Tokyo, April 3 - Japan's Kirin Brewery Co. (2503.TO) said Tuesday it will sell its entire stake in food maker Yonekyu Corp. (2290.TO) to trading house Mitsubishi Corp. (8058.TO) for about Y7 billion.
The Tokyo-based brewer said it will sell all of its 19.8% stake in Yonekyu, a meat packer and processed food maker based in Shizuoka prefecture, central Japan.
Kirin is trying to strengthen its core liquor business to raise its market share as Japan's shrinking population begins to chip away at its customer base.