Worth reading
70In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
293660
¥ million (year-on-year change in interim profit attributable to owners of the parent)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 January 2026–30 June 2026ConsolidatedIFRSNet Sales235,937¥ millionYear on year +0.3%Progress 46.7%
Operating profit-5,880¥ million
Ordinary income-4,679¥ million
Net income attributable to owners of the parent295,447¥ millionProgress 99.8%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥757.77
Financial position at period-end
Total assets870,528¥ million
of which net assets 514,245 ¥ millionEquity ratio 58.9%vs. prior year-end +25.4pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+3,412
Investment+113,603
Financials-62,524
Net change+54,491
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥77,083 million
Segment revenue
Domestic Business1,74574.0%-1.2%
Overseas Business61426.0%+4.8%
Segment profit
Domestic Business11798.3%+32.0%
Overseas Business21.7%+21.2%
Regional salesOverseas beverages Singapore 64 SGD million (YoY -2.3%) / Malaysia 14 SGD million (YoY +1.7%) / Exports 10 SGD million (YoY -54.3%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥505,000 million (YoY -0.4%)
Business profit¥22,000 million (YoY -12.0%)
Operating profit¥6,000 million (YoY -75.4%)
Ordinary incomeNot disclosed
Profit for the period¥296,040 million
Net income¥296,000 million
Revision to Earnings ForecastNo revision
Annual Dividend Forecast¥90 → ¥40（-55.6%）
Payout ratio5.3
Factors Behind Changes in Business Performance
The effects of structural reforms, including the transfer of the domestic food and beverage business; domestic beer sales; overseas sales of Sapporo-brand beer; the effect of the weaker yen; the effects of price revisions and structural reforms; structural reform costs and impairment losses; and the gain on the loss of control of サッポロ不動産開発.
Disclosure regarding the going concern assumption
No applicable matters
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 Not disclosed
Changes in the scope of consolidationNew 0 companies / Excluded Number of companies 1 / Company name サッポロ不動産開発株式会社
Material subsequent eventsOn 6 July 2026, the company resolved to enter into a strategic capital and business alliance with Carlsberg A/S, focused primarily on Southeast Asia and Hong Kong. The company plans to establish a joint venture in Singapore, invest approximately USD 643 million (approximately ¥102.9 billion), and acquire a 25% interest.
Impairment loss¥9,896 million (impairment losses and reversals of impairment losses. An impairment loss associated with the execution of an absorption-type company split agreement for the vending machine business is disclosed, but the breakdown of the assets subject to the full amount is not disclosed)
Breakdown of extraordinary income (loss)As the company reports under IFRS, the extraordinary gains and losses category is not disclosed. Major non-recurring items include a gain of ¥315,025 million on the loss of control of a subsidiary, impairment losses and reversals of impairment losses of ¥9,896 million, and structural reform costs.
Depreciation and amortization¥9,151 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End393,971,490
Treasury Shares at Period-End3,998,500
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026–30 June 2026 |
| Net Sales | ¥235,937 million (YoY +0.3%) |
| Operating profit | ¥-5,880 million |
| Ordinary income | ¥-4,679 million |
| Profit attributable to owners of the parent | ¥295,447 million |
| Net income per share | ¥757.77 |
| Equity ratio | End of the current fiscal period 58.9 / End of previous period 33.5 |
| Total assets | ¥870,528 million |
| Net assets | ¥514,245 million |
| Cash flows from operating activities | ¥3,412 million |
| Cash flows from investing activities | ¥113,603 million |
| Cash flows from financing activities | ¥-62,524 million |
| Cash and cash equivalents at end of period | ¥77,083 million |
| Full-year earnings forecast | Net Sales ¥505,000 million (YoY -0.4%) / Business profit ¥22,000 million (YoY -12.0%) / Operating profit ¥6,000 million (YoY -75.4%) / Ordinary income Not disclosed / Profit for the period ¥296,040 million / Net income ¥296,000 million |
| Revision to Earnings Forecast | No revision |
| Annual Dividend Forecast | ¥90 → ¥40（-55.6%） |
| Payout ratio | 5.3 |
| Segment revenue | Domestic Business ¥1,745 million (YoY -1.2%) / Overseas Business ¥614 million (YoY +4.8%) |
| Segment profit | Domestic Business ¥117 million (YoY +32.0%) / Overseas Business ¥2 million (YoY +21.2%) |
| Regional sales | Overseas beverages Singapore 64 SGD million (YoY -2.3%) / Malaysia 14 SGD million (YoY +1.7%) / Exports 10 SGD million (YoY -54.3%) |
| Depreciation and amortization | ¥9,151 million |
| Impairment loss | ¥9,896 million (impairment losses and reversals of impairment losses. An impairment loss associated with the execution of an absorption-type company split agreement for the vending machine business is disclosed, but the breakdown of the assets subject to the full amount is not disclosed) |
| Breakdown of extraordinary income (loss) | As the company reports under IFRS, the extraordinary gains and losses category is not disclosed. Major non-recurring items include a gain of ¥315,025 million on the loss of control of a subsidiary, impairment losses and reversals of impairment losses of ¥9,896 million, and structural reform costs. |
| Disclosure regarding the going concern assumption | No applicable matters |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement Not disclosed |
| Changes in the scope of consolidation | New 0 companies / Excluded Number of companies 1 / Company name サッポロ不動産開発株式会社 |
| Material subsequent events | On 6 July 2026, the company resolved to enter into a strategic capital and business alliance with Carlsberg A/S, focused primarily on Southeast Asia and Hong Kong. The company plans to establish a joint venture in Singapore, invest approximately USD 643 million (approximately ¥102.9 billion), and acquire a 25% interest. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 393,971,490 |
| Treasury Shares at Period-End | 3,998,500 |
| Factors Behind Changes in Business Performance | The effects of structural reforms, including the transfer of the domestic food and beverage business; domestic beer sales; overseas sales of Sapporo-brand beer; the effect of the weaker yen; the effects of price revisions and structural reforms; structural reform costs and impairment losses; and the gain on the loss of control of サッポロ不動産開発. |
Items this document does not state (3)
Operating MarginShareholder Return PolicyOrders received and order backlog
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Revenue was broadly unchanged year on year, as the decline resulting from structural reforms, including the transfer of the domestic food and beverage business, was offset by domestic beer sales, sales of Sapporo-brand beer in North America and Asia, and the effect of the weaker yen. Business profit increased due to price revisions and the effects of structural reforms, while operating profit declined due to the recognition of structural reform costs and impairment losses. Interim profit attributable to owners of the parent increased due to the recognition of a gain on the loss of control of サッポロ不動産開発.
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