More M&A deals for Kirin

IN A BID to pick up its growth pace amidst stagnation in domestic demand, Japanese brewer Kirin said it will ramp up expansion plans in the region, by giving greater authority to its Singapore-based unit to oversee Kirin's growth strategies including merger and acquisition deals in Southeast Asia. The unit will also work closely with Singapore's Fraser & Neave Ltd, which has 37 breweries in 14 countries and has soft drinks businesses in Malaysia, Thailand and Singapore.

Kirin president Senji Miyake said "there may be individual deals in an extension of" talks with F&N as well the possibility of a beer-related M&A deals in China, which accounted for 42 million kL or about 24% of the global beer market.

In its goal to become a leading food and beverage company in Asia and Oceania, Kirin has spent about Y1 trillion on M&As in Japan and overseas over the past several years, and last year bought a 14.7% stake last year in F&N.

For 2011, Kirin has forecast net profit will grow five-fold to Y58 billion.