Key Facts
• Sapporo Holdings plans to conclude real estate business separation by Nov-Dec 2025.
• Discussions ongoing with multiple external capital partners for the separation process.
• Sapporo Real Estate Development owns 70% of the 83,000 m² Ebisu Garden Place.
• Three investment fund groups are preparing bids for the real estate business.
• Off-balance process began in September 2024; proposals from over 10 firms reviewed.
• 2025 H1 operating profit fell 6.1% YoY to ¥7.1 billion; revenue dropped 1.2% to ¥244.6 billion.
• Beer and canned alcoholic beverages saw increased sales due to price adjustments.
• Full-year 2025 operating profit forecast remains at ¥20 billion, a 92% YoY increase.
• Annual dividend forecast maintained at ¥60 per share.
Summary
Sapporo Holdings is advancing plans to separate its real estate business, targeting a decision by November-December 2025. The company is in discussions with multiple external capital partners, with three investment fund groups preparing bids. Sapporo Real Estate Development, a subsidiary, owns significant properties, including 70% of the 83,000 m² Ebisu Garden Place in Tokyo. The off-balance process began in September 2024, with over 10 proposals reviewed and shortlisted. Financially, Sapporo reported a 6.1% YoY drop in H1 2025 operating profit to ¥7.1 billion, while revenue declined 1.2% to ¥244.6 billion. Despite challenges, beer and canned alcoholic beverages saw growth due to price adjustments. The company maintains its full-year 2025 profit forecast at ¥20 billion, a 92% YoY increase, and an annual dividend of ¥60 per share.
