Asahi Group Holdings Ltd

2502: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Asahi Earnings: Strong Domestic Demand Ahead of Price Hikes Drove Profit Growth; Retain Valuation

Jacky Tsang

May 13, 2025

Asahi's first-quarter organic sales and operating profit increased by 2.6% and 4.8% year on year, respectively, driven by pull-forward demand in Japan ahead of its April price hikes. Declining Australia volume still weighed on margins in the region.

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Asahi Group Holdings Ltd

Asahi Earnings: Strong Domestic Demand Ahead of Price Hikes Drove Profit Growth; Retain Valuation

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