FILE PHOTO – Japanese brewer Kirin Holdings’ Heartland bottled beers are seen in a crate at its factory in Toride, Ibaraki Prefecture, Japan July 14, 2017. REUTERS/Kim Kyung-Hoon
August 6, 2019
TOKYO (Reuters) – Japanese brewer Kirin Holdings Co Ltd <2503.T> said on Tuesday it would take a 30.3% stake in cosmetics company Fancl Corp <4921.T> for 129 billion yen ($1.21 billion) as it reduces its exposure to the shrinking domestic beer market.
Kirin’s strategy contrasts with peer Asahi Group Holdings Ltd <2502.T> that has snapped up overseas beer brands.
($1 = 106.5200 yen)
(Reporting by Sam Nussey; Editing by Himani Sarkar)
