2502.T - Asahi Group Holdings, Ltd.
Chart Events
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 4,143.00 |
| Open | 4,192.00 |
| Bid | 4,132.00 x 0 |
| Ask | 4,151.00 x 0 |
| Day's Range | 4,112.00 - 4,259.00 |
| 52 Week Range | 3,006.00 - 5,578.00 |
| Volume | 2,723,000 |
| Avg. Volume | 2,050,943 |
| Market Cap | 1.893T |
| Beta (5Y Monthly) | 0.73 |
| PE Ratio (TTM) | 13.99 |
| EPS (TTM) | 295.34 |
| Earnings Date | Aug 03, 2020 - Aug 07, 2020 |
| Forward Dividend & Yield | 106.00 (2.56%) |
| Ex-Dividend Date | Jun 29, 2020 |
| 1y Target Est | 6,030.80 |
Fair Value
Related Research
- Reuters
Czech breweries roll back the barrels, turn to bottles and cans
Czech breweries -- including Pilsner Urquell and Budejovicky Budvar -- have stopped refilling kegs and started storing their beer in cooled cellars as they seek to limit damage from pub closures caused by the coronavirus outbreak. Breweries have also ramped up bottle and can production lines to offset a loss from keg sales both abroad and in the Czech Republic, which leads the world in per capita beer consumption. "Most neighbouring countries took the same measures and shut their pubs so export has shifted into bottles and cans," he told Reuters.
- Reuters
AB InBev scraps 2020 outlook as coronavirus crisis expands
Anheuser-Busch InBev , the world's largest brewer, said on Tuesday it was scrapping its 2020 outlook as the scale of the coronavirus increased. The Belgium-based maker of Budweiser, Stella Artois and Corona had forecast at the end of February that core profit (EBITDA) would decline by 10% in the first quarter and by between 2 and 5% for the full year. "Given the uncertainty, volatility and fast-moving developments of the pandemic in the markets in which AB InBev operates, the company is withdrawing that 2020 outlook in its entirety because of the impact of COVID-19," it said.
- Reuters
Nikkei closes at 4-month low as coronavirus spreads beyond Asia
Japan's Nikkei share average fell to a four-month low on Tuesday, as investors reduced their equity holdings on their first trade after a long weekend and as a spike in coronavirus cases beyond mainland China threatened the global economy. The broader Topix declined 3.33% to 1,618.26, with 98% of the stocks on the main board in the red, the highest ratio in more than two years. Railway operators, normally seen as defensive plays, were hit hard after the Japanese government advised citizens and companies against unnecessary large gatherings, prompting the cancellation of many events and trips.
- Reuters
Nikkei hits 4-month low as coronavirus epidemic spreads
Japan's Nikkei share average fell nearly 5% to a four-month low on Tuesday, as investors returning after a long weekend dumped riskier assets following a spike in coronavirus infections outside China that threatened global growth.
- Reuters
Beer, wine, spirit makers pledge age-restriction labels on drinks
Twelve leading beer, wine and spirits companies have pledged to put clear age-restriction labels on their drinks and set tighter controls on access to their online content in a bid to reduce underage drinking. The International Alliance for Responsible Drinking (IARD), which includes Anheuser-Busch InBev, Diageo and Pernod Ricard, say age-restriction symbols or wording would be in place in all markets by 2024. The labels would also extend to alcohol-free versions of established brands.
- Moody's
Asahi Group Holdings, Ltd. -- Moody's announces completion of a periodic review of ratings of Asahi Group Holdings, Ltd.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Asahi Group Holdings, Ltd. Tokyo, October 26, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Asahi Group Holdings, Ltd. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
- Bloomberg
Asahi Suffers $2 Billion Hangover on Overseas Beer Expansion
(Bloomberg) -- Asahi Group Holdings Ltd. is already getting a headache from its $11 billion Australian foray.Japan’s biggest brewer, seeking to escape a slow-growing, aging market at home, is buying the Australian assets of Anheuser-Busch InBev NV, which owns iconic but low-priced beers such as Victoria Bitter. To do so, Asahi will double its debt load and issue about 10% more in new shares. That’s becoming a hangover for investors, who lopped $2 billion from the brewer’s market value on Monday.The deal is the latest in an overseas buying spree by Asahi, which picked up Fuller, Smith & Turner Plc’s brewing business for $330 million earlier this year and made a $11 billion push into Europe two years ago. The Japanese brewer, along with Kirin Holdings Co. and Sapporo Holdings Ltd., has seen domestic beer shipments decline for 14 straight years as fewer people reach legal drinking age. To stay ahead of rivals, Asahi now appears to be more willing to weigh down its balance sheet.“The question is whether Asahi can effectively manage the business, while improving profits and cash flows,” said Toshiyasu Ohashi, chief credit analyst at Daiwa Securities Group Inc., who added that Asahi’s credit profile will be hurt as debt grows faster than cash flow. “Can they generate synergies, and can they improve their financials after the deal?”Shares of Asahi dropped 8.9% in Tokyo trading on Monday, the biggest decline since 2011. The stock was up 18% this year before the deal with AB InBev was announced on Friday.Asahi said it’s securing a 1.2 trillion yen ($11.1 billion) bridge loan and selling 200 billion yen worth of shares to pay for AB InBev’s Melbourne-based Carlton & United Breweries. The Japanese brewer is already on the hook for about 1 trillion yen in interest-bearing debt. The company is betting that cash from the Australian business will help pay down debt. The purchase may lift Asahi’s per-share earnings by as much as 20%, according to SMBC Nikko Securities.There are already early signs of concern over Asahi’s creditworthiness. Moody’s Japan placed the company’s ratings on review for downgrade on Monday, saying the deal will “significantly raise Asahi’s financial leverage.” Rating & Investment Information Inc. said it would place the brewer on its rating monitor with a view to downgrading.A representative for Tokyo-based Asahi declined to comment on Monday.The timing of Asahi’s 200 billion yen share sale isn’t ideal, either. That figure represents about a fifth of total equity issued in Japan this year. Companies have issued 1.1 trillion yen of stock so far, down 43% from the same period last year, according to data compiled by Bloomberg.Asahi has been here before. In 2016, it agreed to buy European beers including Peroni, Grolsch and Pilsner Urquell in two transactions from AB InBev for about $11 billion. Since then, the Japanese brewer’s shares have climbed more than 30%, making it easier for Chief Executive Officer Akiyoshi Koji to justify the latest deal to shareholders.What Bloomberg Opinion Says“Asahi is paying a hefty price, almost 15 times the business’s $760 million of Ebitda in 2018. By comparison, Asahi, Kirin Holdings Co. Ltd. and Sapporo Holdings Ltd. trade on an average of about 11 times.”Andrea Felsted, consumer and retail columnistClick here to read the pieceAsahi said the Carlton purchase would give it greater access to distribution across the Australian market, letting it cross-sell its own brands, including Super Dry and Peroni. “Australia is an attractive market enjoying sustainable economic growth,” the brewer said in a statement.Tomonobu Tsunoyama, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co. in Tokyo, agreed. “It’s a mature market, but in terms of making money from premium brands, Australia is very similar to eastern Europe,” he said.Even so, total beer consumption in Australia has more than halved in the past four decades, to 84 liters per person a year, while lower-alcohol brews make up one fifth of the total. With total alcohol consumption declining, InBev had been pushing weaker ales on Australians.“The Australian market is very high margin, but very slow growth,” said Duncan Fox, a Bloomberg Intelligence analyst.Carlton’s portfolio of beers, which account for almost half the Australian market, has something for almost any palate. The collection is built on the 165-year-old Victoria Bitter, still portrayed as the brew of choice for hot and thirsty Aussie laborers, but also includes foreign brands such as Stella Artois and Beck’s. InBev has in recent years added craft beers including 4 Pines, which is made in the Sydney beachside suburb of Manly.Although Carlton fits with Asahi’s long-term strategy, it’s unlikely to deliver benefits beyond the continent, according to Naomi Takagi, an analyst at SMBC Nikko Securities.“The deal is unlikely to lead to expansion in other countries and thus synergies look thin,” Takagi wrote in a research note.(Updates shares, Australian market figures.)\--With assistance from Shiho Takezawa, Angus Whitley and Takashi Nakamichi.To contact the reporter on this story: Kantaro Komiya in Tokyo at kkomiya4@bloomberg.netTo contact the editors responsible for this story: Rachel Chang at wchang98@bloomberg.net, Reed Stevenson, Jeff SutherlandFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Moody's
Asahi Group Holdings, Ltd. -- Moody's places Asahi Group Holdings' Baa1 ratings under review for downgrade
Moody's Japan K.K. has placed Asahi Group Holdings, Ltd.'s Baa1 issuer and senior unsecured ratings on review for downgrade. The rating action follows Asahi's announcement on 19 July 2019 that it had entered into a share purchase agreement with Anheuser-Busch InBev SA/NV (ABI, Baa1 stable) to acquire a 100% equity stake in ABI's Australian subsidiary CUB Pty Ltd, for a consideration of AUD16 billion (about JPY1.2 trillion) in cash. "This large, mostly debt-financed acquisition will significantly raise Asahi's financial leverage," says Moody's Vice President and Senior Credit Officer Motoki Yanase.
- Reuters
Czech brewers put modern pubs on tap to court hipster crowd
For generations, Czechs have consumed world-beating volumes of beer in the smoky, wood-panelled rooms of their local pubs, all but indistinguishable from each other bar the brand of lager flowing from the taps. Czechs are increasingly shunning fusty old watering holes and draft beer sales are sliding, so the world-famous brewers of pilsner are looking to inject some pizzazz into the traditional pub and attract younger patrons looking for a hip, modern feel. People like Marcel are the kinds of drinkers with disposable income that breweries such as Plzensky Prazdroj, the maker of Pilsner Urquell, are seeking to lure back with new concept bars designed to recharge the traditional Czech pub.
