Coca-Cola West Japan Co. has acquired a 30.8% stake in Mikasa Coca-Cola Bottling Co for Y6.316 billion ($53.8m).

It has been reported in the Japan Times that Coca-Cola West intends to increase its stake further to 51% through a tender and is to offer Y1,160 ($9.88) per Mikasa share.

The report claims that in an attempt to fend off growing competition from other soft drink producers, co-operation with another Coca-Cola distributor is needed.

Coca-Cola West is now looking to acquire an additional 3.6 million shares through the tender (or 20.36% in Mikasa).