Kirin Holdings revises 2024 results, books impairment losses

Kirin Holdings Company, Limited (TSE:2503) announced revisions to its 2024 consolidated financial results forecast, primarily due to the recognition of business restructuring expenses and impairment losses. The company expects to book approximately ¥27.0 billion in expenses related to the transfer of Kyowa Hakko Bio's amino acid and Human Milk Oligosaccharide businesses and ¥19.0 billion in impairment losses from its overseas beer operations. IFRS-based impairment testing of Lion Pty Ltd, Kirin's Australian subsidiary, revealed decreased sales volumes and inflated costs, resulting in an approximate ¥190.0 billion impairment loss. Kirin Holdings will recognize a ¥394.0 billion loss on devaluation of shares of subsidiaries and affiliates in its unconsolidated financial results. Despite these revisions, Kirin maintained its dividend forecast.