Japan’s Kirin says won’t part with non-beer assets, braces for proxy fight
TOKYO- Japan’s Kirin Holdings on Tuesday stepped up its defences against an activist investor who has called on it to sell off non-beer assets, saying the company’s investments in cosmetics and healthcare were crucial to its survival.
CEO Yoshinori Isozaki, preparing for a possible proxy battle with UK-based Independent Franchise Partners (IFP) later this month, said Kirin opposes two board members proposed by IFP because they do not appear to know enough about the company.
Isozaki was speaking to reporters on the sidelines of a meeting with investors ahead of the company’s annual general meeting on March 27.
(Content and photos syndicated via Reuters)