TOKYO, Dec 13 - Moody's Investors Service assigned a (P)Aa3 rating to Kirin Brewery Co Ltd's (Kirin) 90 billion yen ($734 million), shelf registration effective December 13, 2002.

The rating reflects its leading market position in Japan's beer and happoshu (low-malt beer) market, and its strong financial profile.

While Moody's expects Kirin to maintain an overall strong share of the beer and happo-shu market, the company will also be needing to continually introduce new products and promote multi-brand strategies, both of which require substantial marketing expenditure.

Moody's expects Kirin to maintain its competitiveness by optimising its product offering capabilities, refocusing its distribution channels to large retailers, and expanding its share of growing market segments.

16 December, 2002