1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Kirin Holdings Company, Limited
  6. News
  7. Summary
    2503   JP3258000003

KIRIN HOLDINGS COMPANY, LIMITED

(2503)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Kirin may seek Japan aid in dispute with Myanmar military entity

12/21/2021 | 08:58am EDT

The top executive of Kirin Holdings Co. said Tuesday the company may ask the Japanese government for help to resolve a dispute over ending its beer business partnership with a Myanmar military-linked entity.

Kirin Holdings President and CEO Yoshinori Isozaki said in an interview with Kyodo News that his company may need such support, depending on the ruling by a Yangon district court after its partner Myanma Economic Holdings Public Co. unilaterally filed a petition last month to liquidate a joint venture called Myanmar Brewery Ltd.

Isozaki said he hopes the dispute on the venture, the biggest beer company in Myanmar owned 51 percent by Kirin and 49 percent by the Myanmar entity, can be resolved by the end of June.

"I believe the government did not strongly urge us to invest only to feign ignorance when things go badly," the 68-year-old said, referring to a 2014 investment treaty between Japan and Myanmar.

The Tokyo-based company entered the Myanmar market in 2015 following the agreement that protects investors from becoming stripped of their investment assets and as the Southeast Asian country moved toward democratization.

Kirin has two joint ventures -- Myanmar Brewery and Mandalay Brewery Ltd. -- with Myanma Economic Holdings but decided in February to end its partnership with the local partner after the Myanmar military seized power in a coup. Since then, the Japanese company has sought to negotiate but has been unsuccessful.

In response to the legal action by Myanma Economic Holdings, a Kirin subsidiary filed for commercial arbitration with the Singapore International Arbitration Centre earlier this month.

Kirin is looking for a new local partner not linked to the Myanmar military. But Isozaki said Kirin would pull out of the Myanmar market when requested by the Southeast Asian country "if a resolution has been made in a legal and logical manner following a proper discussion."

The chief executive said the military coup was "unexpected" and that the "world is watching" how Kirin will handle the issue.

The partner has yet to respond sufficiently to Kirin's request for talks on the matter, Isozaki said, adding he hopes his company and the country's military government, which is looking for overseas investors, will reach a fair resolution in the dispute.

==Kyodo

© Kyodo News International, Inc., source Newswire

All news about KIRIN HOLDINGS COMPANY, LIMITED
05/18Kyowa Kirin to Start Construction of a New Biopharmaceutical API Manufacturing Building..
AQ
05/17Japan's Nikkei gains for third day on China optimism; subdued earnings weigh
RE
05/16Japan's Nikkei edges higher on China optimism; subdued earnings weigh
RE
05/13Kirin's Q1 Attributable Profit Gains 2.5%
MT
05/12Kirin Holdings Company, Limited Provides Consolidated Earnings Guidance for the Year En..
CI
05/12Kirin Holdings Company, Limited Provides Dividend Guidance for the Second Quarter of 20..
CI
05/10The KIRIN HEALTH INNOVATION FUND Invests In Early Cancer Detection Test Developer Craif..
AQ
04/27Shares in Japanese beermaker Asahi jump after it announces price hikes
RE
04/26Japanese shares fall on Wall Street weakness, corporate outlook
RE
04/18Japan researchers develop electric chopsticks to enhance salty taste
RE
More news
Analyst Recommendations on KIRIN HOLDINGS COMPANY, LIMITED
More recommendations
Financials
Sales 2022 1 919 B 15 071 M 15 071 M
Net income 2022 119 B 938 M 938 M
Net Debt 2022 385 B 3 020 M 3 020 M
P/E ratio 2022 13,6x
Yield 2022 3,33%
Capitalization 1 648 B 12 944 M 12 944 M
EV / Sales 2022 1,06x
EV / Sales 2023 1,03x
Nbr of Employees 29 515
Free-Float 89,6%
Chart KIRIN HOLDINGS COMPANY, LIMITED
Duration : Period :
Kirin Holdings Company, Limited Technical Analysis Chart | 2503 | JP3258000003 | MarketScreener
Technical analysis trends KIRIN HOLDINGS COMPANY, LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 1 977,50 JPY
Average target price 2 228,57 JPY
Spread / Average Target 12,7%
EPS Revisions
Managers and Directors
Yoshinori Isozaki President & Representative Director
Masakatsu Mori Independent Outside Director
Hiroyuki Yanagi Independent Outside Director
Chieko Matsuda Independent Outside Director
Noriko Shiono Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
KIRIN HOLDINGS COMPANY, LIMITED6.28%12 860
ANHEUSER-BUSCH INBEV SA/NV-0.77%110 760
HEINEKEN N.V.-7.18%56 041
CONSTELLATION BRANDS, INC.-2.63%45 893
AMBEV S.A.-8.95%45 668
BUDWEISER BREWING COMPANY APAC LIMITED-5.13%32 673