Kirin and Suntory go back to being rivals
Kazuyasu Kato, president of Kirin Holdings, grimaces at the February 8, 2010 press conference where Suntory and Kirin officially called off the merger talks.Suntory-Kirin merger is called off
In Summer 2009, the two Japanese beverage giants Suntory and Kirin announced a possible merger in preparation for greater international expansion.
Yet after six months of talks, the companies called off their merger plans yesterday at a press conference. Apparently the two beverage giants couldn't agree on details like the core merger share ratio and the valuation of Kirin's pharmaceutical business, Kyowa Hakko Kirin. (We know, right, a brewery that makes drugs: Awesome.)
We'd be happy if the merger talk meltdown meant more diversity among the companies' beer offerings. But if it just means more happoshu and third-category beer, well, maybe it's back to the negotiating table for those guys.
In other news
Ozawa and wife are billionaires: Kids, if you want to be really rich, go into Japanese politics. DPJ Secretary General Ichiro Ozawa and his wife, for example, own around ¥2 billion in assets.
Soy products help reduce risk of lung cancer: So says a health ministry study group. You know what also helps? Not smoking.
Walkers and runners clash at the Imperial Palace: As the area around the Imperial Palace grounds becomes a popular jogging spot, there have been increased incidents of conflicts between strolling visitors and serious runners. We say, let's settle this with a competitive compromise: racewalking.
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