The recent announcement by Suntory that it wants to speed up its overseas expansion through ‘an aggressive merger and acquisition strategy’ led to some interesting insights from a Nomura analyst in the Financial Times:
Japanese “drinks groups would prefer to buy beer companies overseas but, as none are available, they are going after non-alcoholic beverage companies.
“Kirin’s profit margin in its domestic non-beer drinks business was less than 2%, while Asahi’s was about 3%.”
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