Japan to sell two-thirds of state alcohol maker

TOKYO, Dec 25 (Reuters) - The Japanese government plans to sell two-thirds of a state-owned alcohol maker at an auction in February, the Ministry of Finance said on Tuesday.

The government has already booked proceeds from the share sales totalling 14 billion yen ($125 million) in its budget for the current fiscal year to March 31.

The government currently owns all 60,000 shares of the company, Japan Alcohol Corp., and it aims to sell 39,999 of them at an auction on Feb. 15, a ministry official said.

The government will continue to own just over one-third of the company for now in order to maintain its right to veto any important decision that could be proposed at a shareholders' general meeting, the official said. Bids will be accepted from Jan. 15-18, with the smallest unit set at 10 shares.

Japan Alcohol, which produces fermented alcohol, recorded sales of 11.05 billion yen and a recurring loss of 293 million yen in the half year to Sept. 30. (Reporting by Yuzo Saeki; Editing by Mike Miller)