12 May, 2006

Japan: JP Morgan lifts its rating for Kirin Brewery to "overweight"

Kirin Brewery up 5.6% at Y1,875 with JP Morgan lifting its rating for brewery to "overweight" from "neutral" on 3-tier scale, Dow Jones Newswires posted on May 12.

Hike comes after Kirin Brewery said it will shift to holding company structure in July 2007, turning soft drink unit Kirin Beverage into wholly owned subsidiary. JP Morgan report says plan shows Kirin Brewery shifting to business stance with greater focus on long-term growth.

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