Kirin stock declines on quarterly loss

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.