Asahi Group Holdings has cut its outlook for the year ended December 2025, and the downgrade is far sharper for profit than for sales. Revenue is now forecast at 2,890,000 million yen, down from 2,950,000 million yen. Business profit falls to 260,000 million yen from 290,000 million yen, operating profit to 185,000 million yen from 255,000 million yen, and profit attributable to owners of the parent to 120,000 million yen from 167,500 million yen.
| Metric | Previous guide | Revised guide | Change | Change rate |
|---|---|---|---|---|
| Revenue | 2,950,000 | 2,890,000 | △60,000 | △2.0% |
| Business profit | 290,000 | 260,000 | △30,000 | △10.3% |
| Operating profit | 255,000 | 185,000 | △70,000 | △27.5% |
| Profit attributable to owners | 167,500 | 120,000 | △47,500 | △28.4% |
Why the cut bites below the top line
Asahi said sales in its Japan business are likely to come in below earlier assumptions because of system disruption caused by a cyberattack. It then listed three additional pressures on profit: the effect of lower sales, raw-material costs rising more than expected, and the occurrence of impairment losses and expenses related to the system disruption. That mix matters. The revenue downgrade is 2.0%, but business profit is cut 10.3%, operating profit 27.5%, and profit attributable to owners 28.4%. The company also lowered its pretax profit forecast to 175,000 million yen from 242,000 million yen, and basic earnings per share to 80.24 yen from 112.74 yen.
Asahi defines business profit as its own measure of recurring business performance, calculated as revenue less cost of sales and selling, general and administrative expenses. This is not just a top-line trim. The company is describing margin pressure and extra charges on top of weaker sales.
The timetable is part of the story
The awkward detail is when this reset is arriving. Asahi is revising the outlook in June 2026 for a period that ended in December 2025, and it still has not published the full-year results. The company said those overdue results are scheduled for July 8, while the forecast now being revised was the one it originally announced with second-quarter results on August 7, 2025.
The same disruption has also changed the shareholder calendar. Asahi said it had intended to report the business report, consolidated financial statements, parent-only financial statements, and the audit reports from its external auditor and audit committee at the annual shareholders' meeting on March 24. Because the cyberattack caused a system failure that delayed closing procedures, the company said it could not provide those documents with the meeting notice and could not present that reporting item at the annual meeting. It has now set June 30 as the record date for shareholders eligible to exercise voting rights at an extraordinary meeting planned for early September, where that reporting item will be handled instead.
In Asahi's own disclosures, the incident now shows up in three different places at once: sales in Japan, cost and impairment lines, and the formal audit and shareholder timetable.
What remains unclear
The disclosures are clear about direction, but not about attribution. Asahi did not break out how much of the shortfall comes from weaker sales in Japan, how much from raw-material inflation, and how much from impairment or system-related costs. Nor did it disclose the exact date or venue of the extraordinary meeting, saying those details will be announced later.
What the company has offered is a catch-up calendar, not a detailed recovery report. Investors now have a planned results date of July 8 and a shareholder meeting window in early September. What they still do not have is disclosure on the duration, scope or remediation status of the cyberattack itself.