Business Progress Update in View of the Delayed FY2026 Q1 Results Announcement
Following the system disruption caused by a cyberattack on September 29, 2025, Asahi Group Holdings, Ltd. (the “Company”) has delayed the announcement of its financial results for the first quarter of fiscal 2026, originally scheduled for May 2026. The date on which those results will be formally announced is yet to be determined (*Note the simultaneous disclosure of the “Notice Regarding the Announcement Date of Financial Results for the Fiscal Year Ended December 31, 2025” on May 22, 2026).
Since the impact of the above-mentioned disruption is limited to systems managed in Japan, the Company is providing this overview of current progress and future outlooks for each of its regional headquarters (RHQ) that operate primarily in international markets.
The date for the announcement of financial results for the first quarter of fiscal 2026 will be disclosed as soon as it has been confirmed.
Progress Report and Outlook for Each Business Segment (Constant Currency Basis)
Europe
In the first quarter of fiscal 2026, revenue from the Europe segment contracted by 2.4% year on year. While unit sales prices increased, sales volumes decreased in Poland, due to a rebound from temporary demand ahead of the deposit return scheme introduced in 2025, and in Romania, which was adversely impacted by changes in the external environment including tax increases.
Core Operating Profit contracted by the low 10% range year-on-year, mainly due to the decline in sales volumes despite improvements in product and price mixes and controlled variable costs.
Against the full-year plan (Revenue: mid-single-digit year-on-year increase, Core Operating Profit: low single-digit year-on-year increase), while revenue fell short, Core Operating Profit remains in line with plan, supported by improved cost efficiencies. Going forward, the Company will continue to invest in core brands in each market and global brands to help achieve the planned full-year Core Operating Profit levels.
Asia Pacific
In the first quarter of fiscal 2026, revenue increased by 1.5% year on year. While revenue from Southeast & South Asia contracted, the Alcohol Beverages Business and Non-alcohol Beverages Business in Oceania expanded year on year as a result of buoyant Easter trading.
Core Operating Profit also recorded a mid-single-digit year-on-year increase driven by higher sales volumes in Oceania and improved product and price mixes, which offset higher variable costs.
Against the full-year plan (Revenue: low single-digit year-on-year increase, Core Operating Profit: mid-single-digit year-on-year increase), both revenue and Core Operating Profit are slightly below plan, mainly due to shortfall in Southeast & South Asia. Going forward, the Company will aim to achieve planned Core Operating Profit levels by promoting consistent growth in unit sales prices and greater cost efficiencies.
Japan & East Asia
The Company is unable to determine accurate revenue and Core Operating Profit data for the Japan & East Asia segment for the first quarter of fiscal 2026 due to the impact of the system disruption. However, a cumulative sales overview of core Japanese operating companies for the January-to-March period was published in the Monthly Sales Results for March 2026 dated April 10, 2026. The impact of the system distribution is expected to result in a decline in first-quarter revenue and a consequent decline in Core Operating Profit.
Reference: Sales Data for Three Core Operating Companies in Japan for January-to-March 2026
The earnings forecast for fiscal 2026 will be disclosed along with the announcement of the full-year results for fiscal 2025, which has been tentatively scheduled for July 8, 2026. The aim is to inspire a recovery in performance by systematically strengthening existing brands in each business, introducing new products, and enhancing advertising and sales promotions.
■Comment from Company President and Group CEO Atsushi Katsuki
We have been unable to disclose our full-year consolidated earnings forecast for fiscal 2026 due to the impact of the system disruption. However, the first-quarter results show that while sales revenue from both the Europe and Asia Pacific segments is tracking below plan due primarily to market environment, improved cost efficiencies helped generate a level of Core Operating Profit broadly in line with plan in Europe and just marginally below plan in the Asia Pacific. The impact of the system disruption continues to weigh on the performance of the Japan & East Asia segment. However, year-on-year revenue shortfalls have been narrowing since distribution operations started to normalize from February and we strengthened marketing to help restore and recover business.
Going forward, while we will need to keep a close eye on the situation in the Middle East and any impact that might have on our business, our core aim is to achieve the planned performance in Europe and Asia Pacific by promoting growth investment and earnings structure reforms. At the same time, in Japan & East Asia, we will enhance marketing ahead of the pending liquor tax revisions and promote structural reforms with a focus on greater profitability.
We are also looking to strengthen our business portfolio, with the acquisition of shares in Diageo plc’s East Africa businesses that was agreed in December 2025 being one such example. Furthermore, to achieve our Key Indicator Guidelines through 2030, we will aim to increase corporate value through the appropriate allocation of capital designed to ensure financial soundness and improve capital efficiency including shareholder returns.
We thank you for your continued support.
Since the impact of the above-mentioned disruption is limited to systems managed in Japan, the Company is providing this overview of current progress and future outlooks for each of its regional headquarters (RHQ) that operate primarily in international markets.
The date for the announcement of financial results for the first quarter of fiscal 2026 will be disclosed as soon as it has been confirmed.
Progress Report and Outlook for Each Business Segment (Constant Currency Basis)
Europe
In the first quarter of fiscal 2026, revenue from the Europe segment contracted by 2.4% year on year. While unit sales prices increased, sales volumes decreased in Poland, due to a rebound from temporary demand ahead of the deposit return scheme introduced in 2025, and in Romania, which was adversely impacted by changes in the external environment including tax increases.
Core Operating Profit contracted by the low 10% range year-on-year, mainly due to the decline in sales volumes despite improvements in product and price mixes and controlled variable costs.
Against the full-year plan (Revenue: mid-single-digit year-on-year increase, Core Operating Profit: low single-digit year-on-year increase), while revenue fell short, Core Operating Profit remains in line with plan, supported by improved cost efficiencies. Going forward, the Company will continue to invest in core brands in each market and global brands to help achieve the planned full-year Core Operating Profit levels.
Asia Pacific
In the first quarter of fiscal 2026, revenue increased by 1.5% year on year. While revenue from Southeast & South Asia contracted, the Alcohol Beverages Business and Non-alcohol Beverages Business in Oceania expanded year on year as a result of buoyant Easter trading.
Core Operating Profit also recorded a mid-single-digit year-on-year increase driven by higher sales volumes in Oceania and improved product and price mixes, which offset higher variable costs.
Against the full-year plan (Revenue: low single-digit year-on-year increase, Core Operating Profit: mid-single-digit year-on-year increase), both revenue and Core Operating Profit are slightly below plan, mainly due to shortfall in Southeast & South Asia. Going forward, the Company will aim to achieve planned Core Operating Profit levels by promoting consistent growth in unit sales prices and greater cost efficiencies.
Japan & East Asia
The Company is unable to determine accurate revenue and Core Operating Profit data for the Japan & East Asia segment for the first quarter of fiscal 2026 due to the impact of the system disruption. However, a cumulative sales overview of core Japanese operating companies for the January-to-March period was published in the Monthly Sales Results for March 2026 dated April 10, 2026. The impact of the system distribution is expected to result in a decline in first-quarter revenue and a consequent decline in Core Operating Profit.
Reference: Sales Data for Three Core Operating Companies in Japan for January-to-March 2026
| ・Asahi Breweries (Beer-type beverages, revenue) | : 84% of the same period last year |
|---|---|
| ・Asahi Soft Drinks (Asahi Soft Drinks total, sales volume) | : 88% of the same period last year |
| ・Asahi Group Foods: (Asahi Group Food total, revenue) | : 98% of the same period last year |
The earnings forecast for fiscal 2026 will be disclosed along with the announcement of the full-year results for fiscal 2025, which has been tentatively scheduled for July 8, 2026. The aim is to inspire a recovery in performance by systematically strengthening existing brands in each business, introducing new products, and enhancing advertising and sales promotions.
■Comment from Company President and Group CEO Atsushi Katsuki
We have been unable to disclose our full-year consolidated earnings forecast for fiscal 2026 due to the impact of the system disruption. However, the first-quarter results show that while sales revenue from both the Europe and Asia Pacific segments is tracking below plan due primarily to market environment, improved cost efficiencies helped generate a level of Core Operating Profit broadly in line with plan in Europe and just marginally below plan in the Asia Pacific. The impact of the system disruption continues to weigh on the performance of the Japan & East Asia segment. However, year-on-year revenue shortfalls have been narrowing since distribution operations started to normalize from February and we strengthened marketing to help restore and recover business.
Going forward, while we will need to keep a close eye on the situation in the Middle East and any impact that might have on our business, our core aim is to achieve the planned performance in Europe and Asia Pacific by promoting growth investment and earnings structure reforms. At the same time, in Japan & East Asia, we will enhance marketing ahead of the pending liquor tax revisions and promote structural reforms with a focus on greater profitability.
We are also looking to strengthen our business portfolio, with the acquisition of shares in Diageo plc’s East Africa businesses that was agreed in December 2025 being one such example. Furthermore, to achieve our Key Indicator Guidelines through 2030, we will aim to increase corporate value through the appropriate allocation of capital designed to ensure financial soundness and improve capital efficiency including shareholder returns.
We thank you for your continued support.
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