Kirin Brewery comments boost Lion Nathan shares

Kirin Brewery, Japan's second-biggest brewer by volume, said yesterday it wants to raise its stake in Australia's second-largest brewer, Lion Nathan, from the current 46 per cent.

Lion Nathan has been a profit driver for Kirin, which faces intensifying competition with rivals Asahi Breweries and Sapporo Holdings in a shrinking domestic market.

The Australian company accounted for 23 per cent of Kirin's consolidated operating profit in 2005, up from 21 per cent in 2004.

Full Story