HCM CITY (FIA) — Japanese brewer Sapporo Viet Nam has reported year-to-date revenue growth of 20 per cent.

The company's general director, Mikio Masawaki, at a media briefing late last week, said however the company has yet to break even three years after coming to Viet Nam.

He ascribed it to the fact that Sapporo is still focused on developing its brands and setting up facilities rather than revenues.

But he expected that in the next 10 years Sapporo Viet Nam would contribute 10 per cent of the company's global revenues.In 2016 the company expects revenue to continue growing in double digits, he said.

Sapporo has 10 breweries -- six in Japan, three in Canada and one in Viet Nam, which has a capacity of 40 million litres a year.

Masawaki told Viet Nam News that 10 per cent of its output is exported to Australia, New Zealand, Singapore, Hong Kong, and Thailand.

Its capacity would be increased gradually to 150 million litres based on demand, he said.

Meanwhile, the Viet Nam National Tobacco Corporation (Vinataba) has sold its 29 per cent stake in Sapporo Viet Nam to Sapporo International Inc, which now assumes 100 per cent ownership of the Vietnamese operations.

Japan's Nikkei newspaper claimed the transaction is valued at US$8.28 million. — VNS