Overall, the Overseas Business has yet to make a contribution to Group profits, but in 2010 we cut our losses by selling off Korea's Haitai Beverage. In addition, we have revamped the business model at our other money-losing overseas operation, the Chinese beer business, by entering into a contract production arrangement with Tsingtao Brewery. As a result, our Chinese beer business is now poised to move into the black.

 

Meanwhile, the acquisition of P&N Beverages has solidified the foundation of our Australian soft drink business, and the tie-up with Ting Hsin Group fortifies our Asian food business. Our Overseas Business is therefore now ready to move into an aggressive growth stage.

 

While advancing Asahi Super Dry as a global brand and further expanding our international network, we will endeavor to build optimal product portfolios for each area in which we operate.