Asahi Group Holdings H1 2026: Revenue grew 7.7%, but strip out the currency tailwind and Core Operating Profit fell 8.5%

Asahi Group Holdings published its H1 2026 financial results on 14 August 2026 – the first complete set of half-year figures since a cyberattack on 29 September 2025 disrupted Japan operations and forced the company to delay all its reporting by several months. The headline numbers look strong on a reported basis: revenue grew 7.7% to JPY1,464.0 billion and profit attributable to owners of parent grew 68.8% to JPY99.1 billion. Those figures require careful reading. Both are heavily inflated by favourable currency movements. On a constant currency basis – stripping out the yen’s significant weakening against the euro and Australian dollar – revenue fell 0.6% and Core Operating Profit fell 8.5%.