Kirin Holdings Co., Ltd. announced that it will withdraw from the local soft drink manufacturing business by selling the shares of a joint venture that manufactures and sells soft drinks in China for more than 110 billion yen as part of a review of its overseas business. ..
According to the announcement, Kirin Holdings will sell all 40% of the shares held by China Resources Enterprise, a joint venture with a major Chinese beverage company that manufactures and sells soft drinks, to a Chinese fund.
The sale amount is 1 billion dollars, about 115 billion yen in Japanese yen, which means that we will withdraw from the soft drink manufacturing business in China.
However, we will continue to allow local companies to use our own brand, and the beer manufacturing and sales business conducted by our local subsidiaries will continue.
Kirin is activating the review of overseas business, such as selling the shares of a beer company jointly operated with a military-related company and deciding to withdraw from the market in Myanmar where a military coup d'etat occurred. Aims to concentrate overseas management resources in fields such as craft beer, which is more profitable.