JAPAN: Asahi acquires Kyowa Hakko alcohol business
Japanese brewer, Asahi, has acquired the alcohol interests of the chemicals group, Kyowa Hakko Kogyo, for around Y20 billion (US$150.7m). With around 350 employees, Kyowa Hakko manufactures a range of alcoholic drinks including shochu. The deal will make Asahi Japan's second largest producer of shochu.