Kirin Holdings Co. Ltd.TSE: 2503

Financial Results as of March 31, 2026PDF: 500KBPDFファイルをダウンロードする

· Issued by Kirin Holdings Co. Ltd.


KIRIN HOLDINGS COMPANY, LIMITED May 14, 2026 SUMMARY OF CONSOLIDATED FINANCIAL RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2026 (UNDER IFRS) (UNAUDITED)

(English Translation)

Fiscal year ending December 31, 2026

KIRIN HOLDINGS COMPANY, LIMITED

NAKANO CENTRAL PARK SOUTH, 10-2, Nakano 4-chome, Nakano-ku, Tokyo, Japan (URL https://www.kirinholdings.com/en/) Code No.: 2503

Shares Listed: Tokyo

Representative: Mr. Takeshi Minakata, President and COO For further information, please contact: Mr. Hidefumi Matsuo,

Executive Officer, General Manager of Finance Department Telephone: +81-3-6837-7015 from overseas

Commencement date of dividend distribution scheduled: －

Preparation of supplementary documents to the financial results: Yes Holding of financial results presentation (for institutional investors and analysts): Yes

  1. Consolidated business results and financial position for the first three months of the current fiscal year (January 1, 2026 - March 31, 2026)

    [Unit: Japanese yen (¥)]

    (1) Results of operations (cumulative): (Amounts are rounded to the nearest ¥1 million) (Percentage change compares current results with those of the same period of the previous year)

    Revenue

    (¥ millions)

    Percentage change

    (%)

    Normalized operating profit (¥ millions)

    Percentage change

    (%)

    Profit before tax (¥ millions)

    Percentage change

    (%)

    Three months ended

    March 31, 2026

    573,033

    5.0

    49,992

    37.7

    50,344

    31.6

    March 31, 2025

    545,852

    8.8

    36,311

    9.9

    38,265

    (13.4)

    Profit

    (¥ millions)

    Percentage change

    (%)

    Profit attributable to owners of the Company (¥ millions)

    Percentage change

    (%)

    Total

    comprehensive income

    (¥ millions)

    Percentage change

    (%)

    Three months ended

    March 31, 2026

    32,838

    19.9

    27,078

    11.3

    76,412

    -

    March 31, 2025

    27,385

    (16.0)

    24,338

    (6.0)

    (18,968)

    -

    Basic earnings per share

    (¥)

    Diluted earnings per share

    (¥)

    Three months ended

    March 31, 2026

    33.46

    -

    March 31, 2025

    30.05

    30.05

    Reference: Operating profit

    Three months ended March 31, 2026

    ¥39,659 million

    28.0%

    Three months ended March 31, 2025

    ¥30,993 million

    0.5%

    * Normalized operating profit is a profit indicator for measuring recurring performance which is calculated by deducting cost of sales and selling, general and administrative expenses from revenue.

    (2) Financial position:

    Total assets

    (¥ millions)

    Total equity

    (¥ millions)

    Equity

    attributable to owners of the Company

    (¥ millions)

    Equity ratio

    attributable to owners of the Company (%)

    As of

    March 31, 2026

    3,408,011

    1,625,813

    1,317,568

    38.7

    December 31, 2025

    3,494,043

    1,595,148

    1,286,991

    36.8

  2. Dividends

    Annual dividends

    First quarter

    Second quarter

    Third quarter

    Year-end

    Total

    (¥)

    (¥)

    (¥)

    (¥)

    (¥)

    Fiscal year ended December 31, 2025 －

    37.00

    -

    37.00

    74.00

    Fiscal year ending December 31, 2026

    -

    Fiscal year ending December 31, 2026 (Forecast)

    38.00

    -

    38.00

    76.00

    Note: Revision of the forecast from recently announced figures: None

  3. Forecast consolidated business results for the current fiscal year (January 1, 2026 - December 31, 2026)

    Revenue

    Percentage change

    Normalized operating profit

    Percentage change

    Profit before tax

    Percentage change

    (¥ millions)

    (%)

    (¥ millions)

    (%)

    (¥ millions)

    (%)

    Fiscal year ending 2,480,000

    1.9

    235,000

    (6.7)

    258,000

    8.5

    (Percentage change compares forecast results with actual results of the previous year)

    December 31, 2026

    Profit

    (¥ millions)

    Percentage change

    (%)

    Profit attributable to owners of the Company

    (¥ millions)

    Percentage change

    (%)

    Basic earnings per share

    (¥)

    Fiscal year ending

    190,000 6.6 156,000 5.7 193.00

    December 31, 2026

    Note: Revision of the forecast from recently announced figures: None

    Reference: Operating profit Fiscal year ending December 31, 2026 ¥211,000 million 0.6%

    * Notes

    1. Significant changes in the scope of consolidation during the period: None Newly included: - Excluded: -

    2. Changes in accounting policies and changes in accounting estimates

      1. Changes in accounting policies required by IFRS: None

      2. Changes in accounting policies due to other reasons: None

      3. Changes in accounting estimates: None

    3. Number of shares outstanding (ordinary shares)

      1. Number of shares outstanding at the end of the period (including treasury shares)

        As of March 31, 2026 816,000,000 shares

        As of December 31, 2025 914,000,000 shares

      2. Number of treasury shares at the end of the period

        As of March 31, 2026 9,169,410 shares

        As of December 31, 2025 103,851,881 shares

      3. Average number of shares during the period (cumulative from the beginning of the fiscal year)

For the three months ended March 31, 2026 809,318,293 shares

For the three months ended March 31, 2025 809,992,823 shares

Note: Number of treasury shares at the end of the period includes shares held in the BIP (Board Incentive Plan) Trust (1,599,007 shares at March 31, 2026 and 1,599,007 shares at December 31, 2025).

These shares are excluded in calculation of the average number of shares during the period.

  • Review of the Japanese-language originals of the attached condensed quarterly consolidated financial statements by certified public accountants or an audit firm:

  • Information about proper usage of forecast business results, and other special instructions

    None

    1. The statements concerning future performance that are presented in this document are based on judgments using information available to Kirin Holdings ("the Company") and the Kirin Group ("the Group") as of the release date of this material. Certain risks and uncertainties could cause the results of the Company and the the Group to differ materially from any projections presented herein. These risks and uncertainties include, but are not limited to, the economic circumstances surrounding the Company's businesses, market trends, and exchange rates.

    2. The Supplementary Documents to the Financial Results and the presentation materials for the Financial Conference held today, are posted today, May 14, 2026, and the main Q&A of the Conference will be posted as soon as possible, on the Company's website.

(URL of the Company's website) https://www.kirinholdings.com/en/investors/

ATTACHED MATERIALS

INDEX

  1. OVERVIEW OF BUSINESS PERFORMANCE 2

  2. CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS.................................................................................... 3

    1. CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF FINANCIAL POSITION........................................................ 3

    2. CONDENSED QUARTERLY CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND COMPREHENSIVE INCOME... 5

    3. CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY........................................................ 7

    4. CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF CASH FLOWS..................................................................... 9

    5. NOTES TO CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS 11

(GOING CONCERN ASSUMPTION) 11

(SEGMENT INFORMATION) 11

  1. OVERVIEW OF BUSINESS PERFORMANCE

    Please refer to "Presentation Material" for Q1 under FY2026 scheduled to be published on the Company's website on May 14th, 2026.

    (URL of the Company's website) https://www.kirinholdings.com/en/investors/

  2. CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS
    1. CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF FINANCIAL POSITION

      (¥ millions)

      At December 31, 2025

      At March 31, 2026

      Assets

      Non-current assets

      Property, plant and equipment

      738,987

      729,707

      Goodwill

      533,321

      542,814

      Intangible assets

      694,668

      689,179

      Equity-accounted investees

      228,794

      232,084

      Other financial assets

      95,058

      94,564

      Other non-current assets

      49,213

      45,126

      Deferred tax assets

      83,092

      80,801

      Total non-current assets

      2,423,132

      2,414,275

      Current assets

      Inventories

      348,418

      297,642

      Trade and other receivables

      535,713

      390,144

      Other financial assets

      6,389

      9,439

      Other current assets

      55,099

      76,109

      Cash and cash equivalents

      125,292

      124,053

      (Sub-total)

      1,070,911

      897,385

      Assets held for sale

      -

      96,351

      Total current assets

      1,070,911

      993,736

      Total assets

      3,494,043

      3,408,011

      (¥ millions)

      At December 31, 2025

      At March 31, 2026

      Equity

      Share capital Share premium Retained earnings Treasury shares Reserves

      Equity attributable to owners of the Company Non-controlling interests

      Total equity

      Liabilities

      Non-current liabilities Bonds and borrowings Other financial liabilities Defined benefit liability Provisions

      Other non-current liabilities Deferred tax liabilities Total non-current liabilities

      Current liabilities

      Bonds and borrowings Trade and other payables Other financial liabilities Current tax liabilities Provisions

      Other current liabilities (Sub-total)

      Liabilities directly associated with assets held

      for sale

      Total current liabilities

      Total liabilities

      102,046

      102,046

      -

      123

      1,201,090

      960,544

      (251,002)

      (22,824)

      234,858

      277,679

      1,286,991

      1,317,568

      308,156

      308,245

      1,595,148

      1,625,813

      842,434

      822,502

      84,883

      85,492

      46,289

      39,447

      11,590

      11,867

      9,489

      4,205

      125,239

      130,250

      1,119,924

      1,093,763

      81,000

      114,997

      381,487

      306,631

      63,014

      57,925

      19,633

      19,520

      11,184

      10,318

      222,653

      174,351

      778,971

      683,742

      -

      4,693

      778,971

      688,435

      1,898,896

      1,782,198

      Total equity and liabilities

      3,494,043

      3,408,011

    2. CONDENSED QUARTERLY CONCOLIDATED STATEMENTS OF PROFIT OR LOSS AND COMPREHENSIVE INCOME CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF PROFIT OR LOSS THREE MONTHS ENDED MARCH 31, 2026

      (¥ millions)

      Three months ended March 31, 2025

      Three months ended March 31, 2026

      Revenue

      545,852

      573,033

      Cost of sales

      292,274

      296,126

      Gross profit

      253,578

      276,907

      Selling, general and administrative expenses

      217,266

      226,915

      Normalized operating profit

      36,311

      49,992

      Other operating income

      1,129

      1,615

      Other operating expenses

      6,447

      11,948

      Operating profit

      30,993

      39,659

      Finance income

      1,662

      7,572

      Finance costs

      3,084

      8,367

      Share of profit of equity-accounted investees

      8,693

      11,480

      Profit before tax

      38,265

      50,344

      Income tax expense

      10,879

      17,506

      Profit

      27,385

      32,838

      Profit attributable to:

      Owners of the Company

      24,338

      27,078

      Non-controlling interests

      3,047

      5,760

      Profit

      27,385

      32,838

      Earnings per share (¥)

      Basic earnings per share

      30.05

      33.46

      Diluted earnings per share

      30.05

      -

      CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME THREE MONTHS ENDED MARCH 31, 2026

      (¥ millions)

      Three months ended March 31, 2025

      Three months ended March 31, 2026

      Profit

      Other comprehensive income

      Items that will not be reclassified to profit or loss

      Net change in equity instruments measured at fair value through other comprehensive income Remeasurements of defined benefit plans

      Share of other comprehensive income of equity-accounted investees

      Items that are or may be reclassified to profit or loss

      Foreign currency translation differences on foreign operations

      Cash flow hedges

      Share of other comprehensive income of equity-accounted investees

      Total other comprehensive income Comprehensive income

      Comprehensive income attributable to: Owners of the Company

      Non-controlling interests

      Comprehensive income

      27,385

      32,838

      193

      (912)

      (0)

      (1)

      (80)

      39

      (56,257)

      38,806

      (781)

      526

      10,573

      5,116

      (46,353)

      43,574

      (18,968)

      76,412

      (17,236)

      68,801

      (1,732)

      7,610

      (18,968)

      76,412

    3. CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY THREE MONTHS ENDED MARCH 31, 2025

      (¥ millions)

      Equity attributable to owners of the Company

      Share capital

      Share premium

      Retained earnings

      Treasury shares

      Reserves

      Net change in equity instruments measured

      at fair value through other comprehensive

      income

      Remeasurements of defined benefit plans

      Balance at January 1, 2025

      102,046

      9,497

      1,130,931

      (251,376)

      19,676

      -

      Effect of changes in accounting

      policies

      -

      -

      (10,731)

      -

      -

      -

      Balance at January 1, 2025 reflecting changes in accounting

      policies

      102,046

      9,497

      1,120,200

      (251,376)

      19,676

      -

      Profit

      Other comprehensive income

      -

      -

      -

      -

      24,338

      -

      -

      -

      -

      306

      -

      (81)

      Comprehensive income

      -

      -

      24,338

      -

      306

      (81)

      Dividends from surplus

      -

      -

      (28,755)

      -

      -

      -

      Acquisition of treasury shares

      -

      -

      -

      (6)

      -

      -

      Share-based payments

      -

      83

      -

      -

      -

      -

      Changes in the ownership interest in a subsidiary without a loss of control Transfer from reserves to retained earnings

      Transfer from retained earnings

      to share premium

      -

      -

      -

      (19,849)

      -

      10,269

      -

      (73)

      (10,269)

      -

      -

      -

      -

      (7)

      -

      -

      81

      -

      Total transactions with

      owners of the Company

      -

      (9,497)

      (39,097)

      (6)

      (7)

      81

      Balance at March 31, 2025

      102,046

      -

      1,105,442

      (251,383)

      19,975

      -

      Equity attributable to owners of the Company

      Non-controlling interests

      Total equity

      Reserves

      Total

      Foreign currency translation differences on

      foreign operations

      Cash flow hedges

      Total

      Balance at January 1, 2025

      169,311

      1,440

      190,427

      1,181,525

      352,189

      1,533,714

      Effect of changes in accounting

      policies

      -

      -

      -

      (10,731)

      -

      (10,731)

      Balance at January 1, 2025 reflecting changes in accounting

      policies

      169,311

      1,440

      190,427

      1,170,794

      352,189

      1,522,984

      Profit

      -

      -

      -

      24,338

      3,047

      27,385

      Other comprehensive income

      (41,009)

      (791)

      (41,575)

      (41,575)

      (4,778)

      (46,353)

      Comprehensive income

      (41,009)

      (791)

      (41,575)

      (17,236)

      (1,732)

      (18,968)

      Dividends from surplus

      -

      -

      -

      (28,755)

      (6,810)

      (35,565)

      Acquisition of treasury shares

      -

      -

      -

      (6)

      -

      (6)

      Share-based payments Changes in the ownership interest in a subsidiary

      without a loss of control

      Transfer from reserves to retained earnings

      Transfer from retained earnings

      to share premium

      -

      -

      -

      -

      -

      -

      -

      -

      -

      -

      73

      -

      83

      (19,849)

      -

      -

      (27)

      (62,720)

      -

      -

      55

      (82,569)

      -

      -

      Total transactions with

      owners of the Company

      -

      -

      73

      (48,527)

      (69,558)

      (118,085)

      Balance at March 31, 2025

      128,302

      649

      148,926

      1,105,031

      280,900

      1,385,931

      THREE MONTHS ENDED MARCH 31, 2026

      (¥ millions)

      Equity attributable to owners of the Company

      Share capital

      Share premium

      Retained earnings

      Treasury shares

      Reserves

      Net change in equity instruments measured

      at fair value through other comprehensive

      income

      Remeasurements of defined benefit plans

      Balance at January 1, 2026

      102,046

      -

      1,201,090

      (251,002)

      23,836

      -

      Profit

      Other comprehensive income

      -

      -

      -

      -

      27,078

      -

      -

      -

      -

      (927)

      -

      38

      Comprehensive income

      -

      -

      27,078

      -

      (927)

      38

      Dividends from surplus

      -

      -

      (29,975)

      -

      -

      -

      Acquisition of treasury shares

      -

      -

      -

      (8,394)

      -

      -

      Disposal of treasury shares

      -

      (0)

      -

      0

      -

      -

      Cancellation of treasury shares

      -

      (236,572)

      -

      236,572

      -

      -

      Change in scope of consolidation

      -

      -

      -

      -

      -

      -

      Share-based payments

      -

      104

      -

      -

      -

      -

      Changes in the ownership interest in a subsidiary without a loss of control Transfer from reserves to retained earnings

      Transfer from retained earnings

      to share premium

      -

      -

      -

      41

      -

      236,550

      -

      (1,098)

      (236,550)

      -

      -

      -

      -

      1,136

      -

      -

      (38)

      -

      Total transactions with

      owners of the Company

      -

      123

      (267,623)

      228,178

      1,136

      (38)

      Balance at March 31, 2026

      102,046

      123

      960,544

      (22,824)

      24,045

      -

      Equity attributable to owners of the Company

      Non-controlling interests

      Total equity

      Reserves

      Total

      Foreign currency translation differences on

      foreign operations

      Cash flow hedges

      Total

      Balance at January 1, 2026

      210,785

      238

      234,858

      1,286,991

      308,156

      1,595,148

      Profit

      -

      -

      -

      27,078

      5,760

      32,838

      Other comprehensive income

      42,090

      521

      41,723

      41,723

      1,851

      43,574

      Comprehensive income

      42,090

      521

      41,723

      68,801

      7,610

      76,412

      Dividends from surplus

      -

      -

      -

      (29,975)

      (7,558)

      (37,533)

      Acquisition of treasury shares

      -

      -

      -

      (8,394)

      -

      (8,394)

      Disposal of treasury shares

      -

      -

      -

      0

      -

      0

      Cancellation of treasury shares

      -

      -

      -

      -

      -

      -

      Change in scope of consolidation

      -

      -

      -

      -

      2

      2

      Share-based payments

      -

      -

      -

      104

      -

      104

      Changes in the ownership interest in a subsidiary without a loss of control Transfer from reserves to retained earnings

      Transfer from retained earnings

      to share premium

      -

      -

      -

      -

      -

      -

      -

      1,098

      -

      41

      -

      -

      34

      -

      -

      75

      -

      -

      Total transactions with

      owners of the Company

      -

      -

      1,098

      (38,224)

      (7,522)

      (45,746)

      Balance at March 31, 2026

      252,875

      759

      277,679

      1,317,568

      308,245

      1,625,813

    4. CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF CASH FLOWS

      (¥ millions)

      Three months ended March 31, 2025

      Three months ended March 31, 2026

      Cash flows from operating activities Profit before tax

      Depreciation and amortization Impairment losses

      Interest and dividends received

      Share of profit of equity-accounted investees Interest paid

      Gain on sale of property, plant and equipment

      and intangible assets

      Loss on disposal and sale of property, plant and equipment and intangible assets (Increase) decrease in trade receivables

      (Increase) decrease in inventories Increase (decrease) in trade payables Increase (decrease) in liquor taxes payable Increase (decrease) in deposits received Other

      Sub-total Interest and dividends received Interest paid

      Income taxes paid

      Cash flows from (used in) operating activities

      38,265

      50,344

      25,379

      27,253

      255

      4,891

      (1,608)

      (2,739)

      (8,693)

      (11,480)

      2,313

      3,284

      (21)

      (66)

      371

      1,695

      74,098

      143,581

      (7,201)

      (9,087)

      (41,208)

      (40,042)

      (23,360)

      (26,960)

      (2,701)

      (1,323)

      (47,258)

      (64,391)

      8,631

      74,959

      8,156

      14,123

      (1,122)

      (1,579)

      (5,422)

      (13,272)

      10,243

      74,231

      (¥ millions)

      Three months ended March 31, 2025

      Three months ended March 31, 2026

      Cash flows from investing activities

      Acquisition of property, plant and equipment and intangible assets

      (36,960)

      (30,924)

      Proceeds from sale of property, plant and

      equipment and intangible assets

      121

      85

      Acquisition of investments

      (260)

      (391)

      Proceeds from sale of investments

      60

      19

      Proceeds from sale of shares of subsidiaries, net of cash disposed of

      -

      5,361

      Payments of cash segregated as deposits

      (7,700)

      -

      Other

      (665)

      245

      Cash flows from (used in) investing activities

      (45,405)

      (25,605)

      Cash flows from financing activities

      Increase (decrease) in short-term borrowings

      81

      (2)

      Increase (decrease) in commercial paper

      201,923

      38,997

      Repayment of long-term borrowings

      (10,000)

      (25,000)

      Payment for redemption of bonds

      (15,000)

      -

      Repayment of lease liabilities

      (5,030)

      (4,978)

      Payment for acquisition of treasury shares

      (6)

      (8,394)

      (Increase) decrease in segregated deposits for purchase of treasury shares

      -

      (21,611)

      Payment for acquisition of treasury shares by

      a consolidated subsidiary

      (2)

      (3)

      Dividends paid

      (28,755)

      (29,975)

      Dividends paid to non-controlling interests

      (6,801)

      (7,540)

      Payments for acquisition of non-controlling interests

      (78,166)

      -

      Other

      (1)

      11

      Cash flows from (used in) financing activities

      58,242

      (58,497)

      Effect of exchange rate changes on cash and

      (8,452)

      8,631

      cash equivalents

      Net increase (decrease) in cash and cash

      14,629

      (1,239)

      equivalents

      Cash and cash equivalents at beginning of period

      118,617

      125,292

      Effect of changes in accounting policies

      (10,731)

      -

      Cash and cash equivalents at beginning of

      107,886

      125,292

      period reflecting changes in accounting policies

      Cash and cash equivalents at end of period

      122,515

      124,053

    5. NOTES TO CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS (GOING CONCERN ASSUMPTION)

      There are no matters to report under this item.

      (SEGMENT INFORMATION)

      1. Summary of reportable segments

        The reportable segments of the Group are determined based on the operating segments which are constituent units of the Group for which separate financial information is available, and which are periodically examined by the Board of Directors for the purpose of deciding the allocation of management resources and evaluating the business results. The Group has identified four reportable segments, namely, "Alcoholic Beverages Business," "Non-alcoholic Beverages Business," "Pharmaceuticals Business" and "Health Science Business."

        "Alcoholic Beverages Business," for which Kirin Brewery Company, Limited, Lion Pty Limited, New Belgium Brewing Company, Inc. and other entities operate businesses in Japan and overseas. Kirin Brewery Company, Limited conducts production and sale of alcoholic beverages such as beer and low alcohol drinks in Japan while Lion Pty Limited conducts production and sale of products such as beer and low alcohol drinks in the Oceania region, in addition to performing New Belgium Brewing Company, Inc. conducts production and sale of products such as craft beer in North America.

        "Non-alcoholic Beverages Business," for which Kirin Beverage Company, Limited and Coca-Cola Beverages Northeast, Inc. and other entities operate businesses in Japan and overseas. Kirin Beverage Company, Limited conducts production and sale of soft drinks in Japan while Coca-Cola Beverages Northeast, Inc. conducts production and sale of Coca-Cola products in the U.S.

        "Pharmaceuticals Business," for which Kyowa Kirin Co., Ltd. and other entities conduct production and sale of pharmaceutical products in Japan and overseas.

        "Health Science Business," for which FANCL Corporation, Blackmores Limited, and other entities operate business such as natural health in Japan and overseas. FANCL Corporation conducts research and development, production and sale of health food and cosmetics. Blackmores Limited conducts production and sale of nutritional supplements and related products in Australia, Southeast Asia, China and other regions.

        Accounting policies for segment information are generally the same as those for the Company's consolidated financial statements.

        Inter-segment revenue is based on actual market prices.

      2. Information on reportable segments

        Information related to each reportable segment is set out below.

        For the three months ended March 31, 2025

        (¥ millions)

        Reportable segment

        Others (Note 1)

        Adjustment (Note 2)

        Consolidated

        Alcoholic Beverages

        Non-alcoholic Beverages

        Pharmaceuticals

        Health Science

        Revenue from unaffiliated customers

        Inter-segment revenue

        248,975

        469

        127,158

        677

        104,655

        70

        60,816

        1,970

        4,247

        16,144

        -

        (19,330)

        545,852

        -

        Total revenue

        249,443

        127,836

        104,725

        62,787

        20,391

        (19,330)

        545,852

        Segment income (loss) (Note 3)

        26,962

        11,683

        9,556

        3,202

        (145)

        (14,947)

        36,311

        Other operating income

        1,129

        Other operating expenses

        6,447

        Finance income

        1,662

        Finance costs

        3,084

        Share of profit of equity-accounted investees

        8,693

        Profit before tax

        38,265

        Notes: 1. "Others" includes segments which are not included in the reportable segments.

        1. Adjustment in segment income (loss) mainly includes inter-segment eliminations and corporate expenses not attributable to any reportable segment. The expenses are mainly group administrative expenses incurred by the Company, a holding company, and administrative expenses relating to multiple reportable segments incurred by shared services companies.

        2. Segment income (loss) represents normalized operating profit which is calculated by deducting the total of cost of sales and selling, general and administrative expenses from revenue.

For the three months ended March 31, 2026

(¥ millions)

Reportable segment

Others (Note 1)

Adjustment (Note 2)

Consolidated

Alcoholic Beverages

Non-alcoholic Beverages

Pharmaceuticals

Health Science

Revenue from unaffiliated customers

Inter-segment revenue

248,143

544

136,277

795

118,388

79

63,757

1,772

6,467

16,428

-

(19,618)

573,033

-

Total revenue

248,687

137,073

118,467

65,529

22,895

(19,618)

573,033

Segment income (loss) (Note 3)

30,288

13,436

17,156

6,027

(296)

(16,618)

49,992

Other operating income

1,615

Other operating expenses

11,948

Finance income

7,572

Finance costs

8,367

Share of profit of equity-accounted investees

11,480

Profit before tax

50,344

Notes: 1. "Others" includes segments which are not included in the reportable segments.

  1. Adjustment in segment income (loss) mainly includes inter-segment eliminations and corporate expenses not attributable to any reportable segment. The expenses are mainly group administrative expenses incurred by the Company, a holding company, and administrative expenses relating to multiple reportable segments incurred by shared services companies.

  2. Segment income (loss) represents normalized operating profit which is calculated by deducting the total of cost of sales and selling, general and administrative expenses from revenue.

Supplementary Documents to

the Consolidated Financial Statements for the Three Months Ended March 31, 2026

  1. Summary of Consolidated Statement of Financial Position

  2. Summary of Consolidated Statement of Profit or Loss, Indices, etc.

  3. Revenue Details

  4. Profit Details

  5. Summary of Consolidated Statement of Cash Flows

KIRIN HOLDINGS COMPANY, LIMITED May 14, 2026
  1. SUMMARY OF CONSOLIDATED STATEMENT OF FINANCIAL POSITION

    (¥ billions)

    As of March 31, 2026, Actual

    As of December 31, 2025, Actual

    Increase (decrease)

    Description of changes

    Non-current assets

    2,414.3

    2,423.1

    (8.9)

    Property, plant and equipment

    729.7

    739.0

    (9.3)

    Goodwill

    542.8

    533.3

    9.5

    Intangible assets

    689.2

    694.7

    (5.5)

    Equity-accounted investees

    232.1

    228.8

    3.3

    Other

    220.5

    227.4

    (6.9)

    Current assets

    993.7

    1,070.9

    (77.2)

    Inventories

    Trade and other receivables

    297.6

    390.1

    348.4

    535.7

    (50.8)

    (145.6)

    Transfer to assets held for sale, etc.

    Decrease due to the year-end of previous year being a bank holiday, etc.

    Cash and cash equivalents

    124.1

    125.3

    (1.2)

    Other

    181.9

    61.5

    120.4

    Increase due to recognition of assets held for sale, etc.

    Total assets

    3,408.0

    3,494.0

    (86.0)

    Equity

    1,625.8

    1,595.1

    30.7

    Equity attributable to owners of the Company

    1,317.6

    1,287.0

    30.6

    Non-controlling interests

    308.2

    308.2

    0.1

    Non-current liabilities

    1,093.8

    1,119.9

    (26.2)

    Bonds and borrowings

    822.5

    842.4

    (19.9)

    Other

    271.3

    277.5

    (6.2)

    Current liabilities

    688.4

    779.0

    (90.5)

    Bonds and borrowings

    115.0

    81.0

    34.0

    Trade and other payables

    306.6

    381.5

    (74.9)

    Decrease due to the year-end of previous year being a bank holiday, etc.

    Other

    266.8

    316.5

    (49.7)

    Total liabilities

    1,782.2

    1,898.9

    (116.7)

    Total equity and liabilities

    3,408.0

    3,494.0

    (86.0)

  2. SUMMARY OF CONSOLIDATED STATEMENT OF PROFIT OR LOSS, INDICES, etc.

    1. Condensed Statement of Profit or Loss, Indices, etc.

      (¥ billions)

      Three months ended March 31, 2026, Actual

      Three months ended March 31,2025, Actual

      Increase (decrease)

      Revenue

      573.0

      545.9

      27.2

      5.0%

      Gross profit

      276.9

      253.6

      23.3

      9.2%

      Selling, general and administrative expenses

      226.9

      217.3

      9.6

      4.4%

      Normalized operating profit

      50.0

      36.3

      13.7

      37.7%

      Other operating income

      1.6

      1.1

      0.5

      43.1%

      Other operating expenses

      11.9

      6.4

      5.5

      85.3%

      Operating profit

      39.7

      31.0

      8.7

      28.0%

      Finance income

      7.6

      1.7

      5.9

      355.6%

      Finance costs

      8.4

      3.1

      5.3

      171.3%

      Share of profit of equity-accounted investees

      11.5

      8.7

      2.8

      32.1%

      Profit before tax

      50.3

      38.3

      12.1

      31.6%

      Income tax expense

      17.5

      10.9

      6.6

      60.9%

      Profit

      32.8

      27.4

      5.5

      19.9%

      Owners of the Company

      27.1

      24.3

      2.7

      11.3%

      Non-controlling interests

      5.8

      3.0

      2.7

      89.0%

      EPS

      ¥33

      ¥30

      ¥3

      11.3%

      Revenue (excluding liquor tax)

      515.3

      470.5

      44.8

      9.5%

      Normalized operating profit ratio (excluding

      liquor tax)

      9.7%

      7.7%

      Gross Debt Equity Ratio

      0.71

      0.94

    2. Exchange Rate for the Consolidation of Profit or Loss of the Major Overseas Companies

      (¥)

      Three months ended March 31, 2026, Actual

      Three months ended March 31, 2025, Actual

      Lion･Blackmores (AUD)

      109.41

      94.36

      Four Roses・Coke Northeast・New Belgium Brewing Co

      etc.(USD)

      156.45

      151.21

    3. Period for the Consolidation of Profit or Loss of the Major Overseas Company

      Three months ended March 31, 2026, Actual

      Three months ended March 31, 2025, Actual

      San Miguel Brewery

      From October 2025

      to December 2025

      From October 2024

      to December 2024

  3. REVENUE DETAILS

    (¥ billions)

    Three months ended March 31,2026, Actual

    Three months ended March 31, 2025, Actual

    Increase (decrease)

    Revenue

    573.0

    545.9

    27.2

    5.0%

    Alcoholic Beverages

    248.1

    249.0

    (0.8)

    (0.3%)

    Kirin Brewery*1

    154.0

    163.4

    (9.5)

    (5.8%)

    Kirin Brewery standalone basis

    140.0

    153.5

    (13.4)

    (8.8%)

    Lion

    53.1

    45.7

    7.4

    16.3%

    New Belgium etc.*2

    23.5

    21.8

    1.7

    7.8%

    Four Roses

    5.8

    6.1

    (0.3)

    (4.6%)

    Other and elimination

    11.7

    11.9

    (0.2)

    (2.1%)

    Non-alcoholic Beverages

    136.3

    127.2

    9.1

    7.2%

    Kirin Beverage

    56.7

    57.3

    (0.6)

    (1.0%)

    Coke Northeast

    77.3

    67.6

    9.7

    14.4%

    Other and elimination

    2.3

    2.3

    (0.0)

    (1.3%)

    Pharmaceuticals

    118.4

    104.7

    13.7

    13.1%

    Kyowa Kirin

    118.5

    104.7

    13.7

    13.1%

    Elimination

    (0.1)

    (0.1)

    (0.0)

    -

    Health Science

    63.8

    60.8

    2.9

    4.8%

    FANCL

    30.4

    27.0

    3.3

    12.4%

    Blackmores

    19.0

    15.3

    3.7

    24.2%

    Other and elimination

    14.4

    18.5

    (4.1)

    (22.2%)

    Other

    6.5

    4.2

    2.2

    52.3%

    (Reference) Revenue excluding liquor tax

    (¥ billions)

    Three months ended March 31, 2026, Actual

    Three months ended March 31, 2025, Actual

    Kirin Brewery standalone basis

    88.6

    93.4

    *1 In addition to Kirin Brewery standalone basis, including consolidated subsidiaries such as Taiwan Kirin. 2 Including North American wine.

  4. PROFIT DETAILS

    1. Normalized Operating Profit Details

      (¥ billions)

      Three months ended March 31, 2026, Actual

      Three months ended March 31, 2025, Actual

      Increase (decrease)

      Normalized operating profit

      50.0

      36.3

      13.7

      37.7%

      Alcoholic Beverages

      30.3

      27.0

      3.3

      12.3%

      Kirin Brewery*1

      18.9

      16.8

      2.0

      12.1%

      Kirin Brewery standalone basis

      15.9

      15.4

      0.4

      2.7%

      Lion

      6.2

      4.9

      1.3

      26.6%

      New Belgium etc.*2

      2.5

      2.5

      (0.0)

      (0.4%)

      Four Roses

      2.4

      2.6

      (0.2)

      (7.8%)

      Others

      0.4

      0.2

      0.2

      124.2%

      Non-alcoholic Beverages

      13.4

      11.7

      1.8

      15.0%

      Kirin Beverage

      2.2

      2.1

      0.2

      7.2%

      Coke Northeast

      10.8

      9.3

      1.5

      16.6%

      Others

      0.4

      0.3

      0.1

      20.7%

      Pharmaceuticals

      17.2

      9.6

      7.6

      79.5%

      Kyowa Kirin

      17.2

      9.6

      7.6

      79.5%

      Health Science

      6.0

      3.2

      2.8

      88.2%

      FANCL

      3.0

      2.7

      0.3

      12.3%

      Blackmores

      2.5

      0.9

      1.7

      190.0%

      Others

      0.5

      (0.4)

      0.8

      -

      Other

      (0.3)

      (0.1)

      (0.2)

      -

      Corporate expenses and inter-segment eliminations

      (16.6)

      (14.9)

      (1.7)

      -

      *1 In addition to Kirin Brewery standalone basis, including consolidated subsidiaries such as Taiwan Kirin.

      1. Including North American wine.

      2. Each normalized operating profit in each segment is calculated by adding back management fees paid to the Company to normalized operating profit.

    2. Other Operating Income and Other Operating Expenses

      (¥ billions)

      Three months ended March 31, 2026, Actual

      Three months ended March 31,2025, Actual

      Increase (decrease)

      Other operating income

      1.6

      1.1

      0.5

      Gain on sale of property, plant and equipment and intangible assets

      0.1

      0.0

      0.0

      Other

      1.5

      1.1

      0.4

      Other operating expenses

      11.9

      6.4

      5.5

      Impairment losses

      4.9

      0.3

      4.6

      Business restructuring expenses

      1.9

      1.2

      0.7

      Loss on disposal and sale of property, plant and equipment and intangible assets

      1.8

      0.6

      1.2

      Other

      3.4

      4.4

      (1.0)

    3. Finance Income, Finance Costs, Share of Profit of Equity-accounted Investees

      (¥ billions)

      Three months ended March 31, 2026, Actual

      Three months ended March 31, 2025, Actual

      Increase (decrease)

      Finance income

      7.6

      1.7

      5.9

      Interest income

      2.7

      1.6

      1.1

      Dividend income

      0.1

      0.1

      0.0

      Gains on valuation of financial instruments

      4.8

      -

      4.8

      Other

      0.1

      0.1

      0.0

      Finance costs

      8.4

      3.1

      5.3

      Interest paid

      3.3

      2.3

      1.0

      Foreign exchange losses (net)

      3.9

      0.7

      3.2

      Other

      1.2

      0.1

      1.1

      Share of profit of equity-accounted investees

      11.5

      8.7

      2.8

      San Miguel Brewery

      9.9

      9.3

      0.6

      Other

      1.6

      (0.6)

      2.2

  5. SUMMARY OF CONSOLIDATED STATEMENT OF CASH FLOWS

(¥ billions)

Three months ended March 31, 2026, Actual

Three months ended March 31, 2025, Actual

Increase (decrease)

Cash flows from operating activities

74.2

10.2

64.0

Profit before tax

50.3

38.3

12.1

Depreciation and amortization

27.3

25.4

1.9

Other

(3.4)

(53.4)

50.0

Cash flows from investing activities

(25.6)

(45.4)

19.8

Acquisition of property, plant and equipment and intangible assets

(30.9)

(37.0)

6.0

Other

5.3

(8.4)

13.8

Cash flows from financing activities

(58.5)

58.2

(116.7)

Increase (decrease) in interest-bearing liabilities

14.0

177.0

(163.0)

Dividends paid

(37.5)

(35.6)

(2.0)

Other

(35.0)

(83.2)

48.2

Exchange rate changes

8.6

(8.5)

17.1

Net increase (decrease) in cash and cash equivalents

(1.2)

14.6

(15.9)

Effect of changes in accounting policies*

-

(10.7)

10.7

*The effect is deducted from cash and cash equivalents at beginning of year, and not included in "Net increase (decrease) in cash and cash equivalents."

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