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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Sapporo Breweries
Sapporo Breweries (2501) investor relations material
Sapporo Breweries Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary11 Nov, 2026
Executive summary
Nine-month revenue was ¥367.3bn (-0.2% YoY) and core operating profit ¥15.9bn (+0.7%); operating profit fell 83.2% to ¥2.6bn.
Profit attributable to owners of parent rose to ¥301.8bn from ¥10.9bn, mainly reflecting gains from the Real Estate transaction and loss of control of subsidiaries.
Financial highlights
Core operating profit margin was 4.3%, unchanged YoY; EBITDA was ¥28.6bn versus ¥28.4bn.
Operating profit was ¥2.6bn versus ¥15.5bn as other operating expenses rose to ¥19.0bn from ¥3.7bn, including impairment losses and structural reform costs.
Profit before tax was ¥4.2bn (-67.8% YoY); continuing-operations profit was ¥1.9bn versus ¥8.5bn.
Operating cash flow was ¥23.0bn, investing cash flow ¥219.4bn and free cash flow ¥242.4bn; investing inflows included ¥237.4bn from investments and asset sales.
Outlook and guidance
FY2026 forecast remained unchanged: revenue ¥505.0bn, core operating profit ¥22.0bn, operating profit ¥6.0bn and attributable profit ¥296.0bn.
FY2026 forecast attributable profit includes ¥290.0bn from discontinued operations; forecast EBITDA is ¥38.6bn (-8.0%).
October’s liquor tax revision is expected to support Japan Premium and Mainstream beer growth; 2027 beer marketing investment is planned above 2026 levels.
Canadian structural reforms aim to restore profitability from 2027 onward through cost optimization and resource shifts toward growth brands; APAC and Europe progress offset Canada challenges.
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Latest events from Sapporo Breweries
- Beer-led premiumization, overseas growth and ¥250 billion in returns anchor the 2030 plan.2501
Corporate presentation - Core profit up 37.2% YoY; net income surged on real estate gain; outlook stable but cautious.2501Q2 2026
- Strategic partnership with Carlsberg accelerates SPB's growth in Asia and Europe via joint venture.2501Corporate presentation
- ROE surpassed targets as capital reallocation and reforms drive growth and shareholder value.2501Investor presentation
- External capital injection enables major reinvestment in core beverage growth and shareholder returns.2501Investor presentation
- Mid- to long-term strategy prioritizes core beverage growth, efficiency, and capital reallocation.2501Corporate presentation
- Core profit rose despite lower revenue, as reforms and overseas growth drove performance.2501Q1 2026
- Record profits and ROE in 2025, with a major real estate gain projected for 2026.2501Q4 2025
- Core profit and EBITDA surged despite lower revenue; profit guidance raised, stock split planned.2501Q3 2025
Next Sapporo Breweries earnings date
Q4 202612 Feb, 2027
Sapporo Breweries
Next Sapporo Breweries earnings date
Q4 202612 Feb, 2027
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Frequently asked questions
Sapporo Holdings Limited is a Japanese company primarily engaged in the production and distribution of alcoholic and non-alcoholic beverages. The company’s portfolio includes beer, wine, spirits, and soft drinks, with its flagship brand, Sapporo Beer, being a prominent product. In addition to beverages, Sapporo operates in the food industry and real estate sector, managing restaurants and commercial properties. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.