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Kirin stock declines on quarterly loss

China Daily | Updated: 2008-05-02 07:58

Kirin Holdings Co, Japan's largest beverage maker, fell the most in eight years in Tokyo trading after posting a quarterly loss on higher raw material costs and a weakening performance at its soft-drink business.

The company posted a net loss of 675 million yen ($6.5 million) in the three months ended March 31, its first quarterly loss in four years. Kirin shares fell 122 yen, or 6.6 percent, to 1,728 yen at 3 pm on the Tokyo Stock Exchange, their biggest decline since January 2000.

Kirin forecasts costs for aluminum cans, brewing malt and other materials will rise 10.2 billion yen this year.

Kirin stock declines on quarterly loss

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