February 19, 2020 / 6:55 AM / 2 months ago

Kirin reiterates opposition to activist investor demands

TOKYO, Feb 19 (Reuters) - Japan’s Kirin Holdings Co Ltd on Wednesday reiterated its opposition to an activist shareholder’s call that it divest assets outside its beer business, saying investments in areas such as healthcare were crucial.

Independent Franchise Partners, which owns a 2% stake in Kirin, has called on the company to focus on beer.

“The board is strongly opposed to Franchise Partner’s proposal that all non-beer assets be sold,” the company said in a statement. (Reporting by Ritsuko Ando Editing by Shri Navaratnam)

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