Kirin Holdings Co. is still in discussion over plans to buy San Miguel Corp.'s dairy product and soft drink unit in Australia.  

The Tokyo-based beer and beverage maker has been in talks with San Miguel, in which it has a 20% stake, over the possibility of taking a stake in National Foods.

But Kirin was forced to confirm its current position after press speculation over the weekend suggested the deal had been done.

Kirin was quick to calm the reports, saying: "We are now in negotiations and the story is not true."