BREWERY ACQUISITIONS
Asahi aims to boost revenue with more foreign deals
Japanese makers of consumer goods are scrambling to expand overseas as the domestic population ages
Tokyo — Asahi Group Holdings, Japan’s largest brewery that acquired almost $11bn in European beer assets, is considering more overseas deals. "The domestic market is turning out stable cash flow, but we want overseas markets to be our growth engine," the company’s president, Akiyoshi Koji, said on Tuesday. The company will also decide on options for its minority stake in China’s Tsingtao Brewery in 2017, said Koji. "Ownership without control doesn’t make much sense," he said, referring to the company’s 20% stake in Tsingtao. Japanese makers of consumer goods such as beer and cigarettes are scrambling to expand overseas as the domestic population shrinks and becomes more elderly. Asahi is also contending with intensifying competition in its home market, from rival Kirin Holdings and craft beer makers. Asahi was considering overseas acquisitions as it planned to increase revenue outside of Japan to 33%, up from 24% after its latest purchases were completed, Koji said. The company had ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.