One of Japan's two largest brewers, Kirin Brewery Co. Ltd., said on Monday, September 27 that shareholder Mizuho Corporate Bank would sell up to 7.341 million shares, 0.7 % of its shares outstanding, mainly in European markets.

The shareholder, Mizuho Corporate Bank, the core banking unit of Mizuho Financial Group Inc, would offer the shares for sale on October 1, Kirin said in a statement. It gave no reason for the planned transaction, but Japanese financial institutions have been offloading their investments in industrial companies in recent years. Before the announcement, Kirin shares ended up 0.97 percent at 938 yen, compared with a 0.33 percent decline in the benchmark Nikkei average . The sale is worth 6.88 billion yen ($62.2 million) at that closing price.

29 September, 2004