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April 3, 2007
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Sale of Equity in Yonekyu Corporation
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April 3, 2007 −At a meeting of its Board of Directors held today, Kirin Brewery Company, Limited ("Kirin") resolved to sell the equity it holds in Yonekyu Corporation ("Yonekyu"). Details are as follows.
1. Reasons for the sale of equity
In 1998 Kirin acquired a portion of the issued shares of Yonekyu and made it an affiliate accounted for by the equity method. However, Kirin has decided that it would be more beneficial for raising Yonekyu's corporate value to sell all of its equity in Yonekyu to Mitsubishi Corporation. As a result Yonekyu will no longer be an equity-method affiliate of Kirin.
2. Outline of relevant companies
(1) Yonekyu Corporation
| (1) Name: |
Yonekyu Corporation |
| (2) Representative: |
Katsuhiko Ishino |
| (3) Head office address: |
1259, Okanomiya Terabayashi, Numazu-shi, Shizuoka |
| (4) Paid-in capital: |
¥8.634 bn |
| (5) Main businesses: |
Manufacture and sale of meat products, processed food products. Brewing and sale of local brand beer. |
| (6) Financial year-end: |
Final day of February |
| (7) Listings: |
Tokyo Stock Exchange, Nagoya Stock Exchange |
(2) Mitsubishi Corporation
| (1) Name: |
Mitsubishi Corporation |
| (2) Representative: |
Yorihiko Kojima |
| (3) Head office address: |
2-3-1 Marunouchi, Chiyoda-ku, Tokyo |
| (4) Paid-in capital: |
¥ 198.618 billion (as of September 30, 2006) |
| (5) Main business: |
General trading company business |
| (6) Financial year-end: |
March 31 |
| (7) Listings: |
Tokyo Stock Exchange, Osaka Securities Exchange, Nagoya Stock Exchange |
3. Number of shares to be transferred and shareholding status before and after transfer
| (1) Shares held before transfer: |
5,714,000 shares (19.83% of total shares) |
| (2) Shares to be transferred |
5,714,000 shares (19.83% of total shares) |
| (3) Shares remaining held after transfer: |
0 shares (0% of total shares) |
4. Schedule
April 3, 2007: Conclusion of Yonekyu Corporation share transfer agreement
May 1, 2007: Date of transfer of 5,414,000 shares
*The remaining 300,000 shares are planned to be transferred in January 2008.
5. Outlook
The impact of this sale of equity on Kirin's consolidated business results will be included in forecasts for 2007 as part of interim results and other such announcements.
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