Japan's Kirin to withdraw from its Myanmar brewery venture
ABC News
Japanese beverage giant Kirin says it has decided to withdraw from its joint venture in Myanmar
BANGKOK -- Japanese beverage giant Kirin Holdings said Monday it has decided to withdraw from its joint venture in Myanmar.
Kirin, owner of the San Miguel, Fat Tire and Lion brands, said its board made the decision to “urgently terminate” the partnership with Myanma Economic Holdings Plc, a military-affiliated company, after finding it would be difficult to quickly end the venture in the way Kirin wanted to.
The company announced more than a year ago that it was unhappy with a Feb. 1, 2021, military takeover that violated its corporate standards and human rights policy.
The military ousted the elected government of Aung San Suu Kyi triggering mass nonviolent protests nationwide. When the military and police responded with deadly force, armed resistance arose in the cities and the countryside in a fierce struggle for power.
