JAPAN: Kirin starts London delisting
Japan's largest brewer, Kirin, has started delisting from the London Stock Exchange.
The move, which was announced in May, took effect at the start of trading last Friday (30 June). Kirin has also pulled its American Depositary Shares (ADR) from the US NASDAQ market.
The decision to delist from the UK and US markets came as part of Kirin's organisational overhaul of the company. Kirin said in May that it planned to consolidate its alcohol, soft drinks and other businesses under one holding company by next summer, a move it hoped would drive efficiencies across the group. Kirin also wants to generate 30% of sales and profits from markets outside Japan by 2015.
The company's shares will continue to trade on the Japanese market.
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