On behalf of the Asahi Group, I would like to express my sincere appreciation for your enduring support.

The Asahi Group continues to make progress towards its Long-Term Vision 2015 of “Striving for transforming the bounty of nature into the kando (joy and satisfaction) of food while becoming a trusted company with global quality.” As a key milestone in that vision, we have been implementing our Medium-Term Management Plan 2012.

In fiscal 2012, the final year of the Medium-Term Management Plan 2012, we have focused on the core goals of establishing a new growth structure and raising the profitability of existing businesses. At the same time, we are moving ahead with initiatives to raise the corporate value of the entire Group by generating synergies among Group companies.

In terms of establishing a new growth structure, in October we acquired all shares in Calpis Co., Ltd., Japan’s leading manufacturer of lactic acid bacteria drinks. This move bolstered the foundation of our soft drinks business to prepare us for further growth. In September, we established a soft drink production and sales joint venture in Indonesia with the nation’s largest food company, creating a foothold in a key soft drinks market amid robust economic growth in Southeast Asia. These and other initiatives have furthered the establishment of a portfolio that promises sustainable growth into the future.

In terms of raising the profitability of existing businesses, Asahi Breweries, Ltd., Asahi Soft Drinks Co., Ltd. and other Group companies have bolstered and nurtured their core brands. In addition, we have implemented growth strategies and reformed profit structures in our domestic businesses through such initiatives as the streamlining of production systems in the beer-type beverage business and improved production processes at each of our Group companies.

2013 will mark the first year of our new medium-term management plan scheduled to be announced in February. We will continue to create value at Group companies through new value propositions and technological innovation. At the same time, we will strive to raise corporate value through utilizing our global network and collaboration among Group companies to maximize Group synergies.

Through all of our activities, the Asahi Group aims to share even greater levels of joy and satisfaction with our customers and society while maintaining their trust. We appreciate your enduring support.

January 1, 2013
Naoki Izumiya, President and Representative Director
Asahi Group Holdings, Ltd.