TOKYO — Japanese beverage firm Suntory Holdings Ltd. will raise its stake in Daisyo Corp. to 13.41 percent, making it the second-largest shareholder in the operator of Japanese-style pubs.
Daisyo said Friday that it will sell 2.5 million shares of treasury stock to Suntory Beer & Spirits Ltd. for about 2.8 billion yen (US$34 million) on February 8.
Suntory Holdings became a Daisyo investor in 1991 and was Daisyo’s eighth-largest shareholder, with a 1.62 per cent stake, as of August 31, 2010.
Suntory Holdings has supplied products and dispatched directors to the Daisyo group, which runs about 1,000 eateries and drinking establishments nationwide under Shoya and other brands.
By strengthening its ties with Daisyo, Suntory intends to increase sales of beer and other products. Daisyo will use most of the proceeds from the stock sale to repay debt.
Asia Pulse Pte Ltd.