Kirin has invested in the San Miguel's Retirement plan and with a transacted price of 75 pesos per share the total value was PHP 8.8 billion (€120.2m). Kirin originally bought a 15.55 per share in San Miguel back in 2002.
As the largest largest food and beverage company in the Philippines, San Miguel is expanding its operations in Asian-Pacific regions including Thailand, Malaysia, Indonesia, Vietnam, Australia and China. The move forms part of an effort to broaden the company's business reach and to decrease dependency on the domestic market, where it has a virtual monopoly in several categories.
Likewise Kirin is targeting growth in its overseas alcohol beverages business in Asia and Oceania, and is building a strong operational base for business expansion in the region. In line with this approach, Kirin beleives that San Miguel is the right partner to maximize business opportunities and bring synergies among its group of companies in the region.
As part of its drive into international markets, Kirin bought up a 25 per cent stake in Chinese brewer Dailan Daxue in November last year, which it paid CNY 300 million (€27.54m) for. Dailan is one of the leading brewers in the key north eastern region of China. Kirin said that it was hoping to introduce its own methods of quality control in an effort to help drive sales through enhancing the quality of the company's beers.
In a statement Kirin president Koichiro Aramaki, said that San Miguel had proved to be an increasingly important partner for the company ever since its initial investment back in 2002.
"San Miguel's strategy for Asia and Oceania fits well with ours, and I am confident that this transaction will be another successful step in strengthening our long-term partnership," Aramaki said.