Kirin Group saw significant revenue growth in Q1 2024, driven by new beer launches, whiskey expansion, and functional beverages. The Japanese beverage giant reported an 11.4% year-on-year revenue increase to JPY501.8bn (US$3.41bn) and a remarkable 120.2% rise in profits before tax, thanks in part to the absence of one-time costs from 2023.
Key drivers included the launch of KIRIN Beer Harekaze, the company's first new beer brand in 17 years, which exceeded expectations and targeted younger consumers with its smoother taste and local Tohoku hops. Kirin also saw its whiskey brand Fuji triple in sales, particularly in Japan and Europe. Functional beverages contributed with a 32% revenue increase, led by products featuring LC-Plasma technology, which grew 39%.
As Kirin strengthens its investments in beer and non-alcoholic offerings, the company is well-positioned for continued growth in the competitive beverage market.
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