JAPAN: Sapporo mulls dropping Fujiya - report
Sapporo Beverage Co. is considering dissolving its contract to sell drinks made by food and drinks maker Fujiya Co., according to local reports.
The Mainichi Shimbun said today (17 January) that the soft drink unit of Sapporo Holdings may make the move after Fujiya was caught using ingredients which had past their expiry date.
Should the sales agreement be cancelled, the report said, citing industry sources, then Fujiya may have to sell off its drinks operations.
In fiscal 2005, the beverage division at Fujiya posted sales of JPY4.8bn (US$39.8m).
Late last year, Sapporo confirmed that it will launch Sapporo Hoppu Kenkujo, a soft drink designed to help alleviate the main symptoms of hay fever. The drink was scheduled to be launched this week.
Japanese brewers Sapporo, Asahi, Kirin, Suntory and Orion have shown a second straight month of year-on-year decreases in beer shipments, according to reports....
Steel Partners has warned Sapporo Holdings that its 'advanced warning system' (AWS) is being used in an "inappropriate" manner to ward off attempts by the company to buy the Japanese firm....
Brick Brewing Co. has made itself available to purchase....
Sapporo Holdings posted a net loss for the first quarter, as a result of increased costs on product advertising, but losses at the Japanese brewer have narrowed from the first quarter of 2006....
A survey of the top brewers in Japan has shown total beer and quasi-beer shipments were flat in the first three months of this year....
Shareholders in Sapporo Holdings have approved the Japanese company's anti-takeover measures, according to local reports....
Sapporo Holdings has reportedly repeated its belief that its plan for fresh takeover defence measures will not erode shareholder value....
US private equity firm Steel Partners is lobbying Sapporo Holdings shareholders to reject a proposed 'advance warning system' against potential takeover bids for the Japanese company....
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