Beer giant Kirin Holdings has announced that it will withdraw from the Myanmar market.
After the Myanmar military coup d'etat, he aimed to dissolve the alliance with the military-related companies, but said that negotiations were difficult and it was difficult to continue the business.
This was revealed by Kirin Holdings President Yoshinori Isozaki at a press conference on the 14th.
Kirin acquired Myanmar's largest beer company under its umbrella in 2015, and has been engaged in a joint venture with a major local conglomerate related to the military, "Myanmar Economic Holdings".
However, following the coup d'etat of the Myanmar Army in February last year, we decided to cancel the tie-up with the joint venture and proceeded with negotiations, but it was difficult.
Under these circumstances, Kirin decided that it would be difficult to continue its business, and sold all the shares it currently holds 51% each of the two joint ventures operating locally, and withdrew from the Myanmar market by June. It is supposed to be.
At the press conference, President Isozaki said, "In February, I had the opportunity to have a dialogue with the other party, but I reconfirmed that the other party had no intention of letting go of the shares, so I announced my intention to withdraw."
The policy is to select the buyers of the shares from companies that are not related to the military, but the future focus will be on finding a partner that can be understood by the international community.