Kirin Holdings has cut its sales and profits forecast for the first half of 2010. Kirin expects net sales to be JPY43bn (US$492m) for the six months to the end of June, 14% lower than previously predicted, the Japanese drinks giant said today (26 July). It added that net profits are expected to be JPY26bn, 7% lower than its earlier forecast, with operating profits set to be 14% lower at JPY29bn. “The revision is due to smaller dividend income from affiliates than initially forecast,”... ...Read more »

Japanese food and drink group Kirin Holdings has shuffled its management pack as the company looks to push on with plans to drive earnings. Kirin, which owns Australia’s Dairy Farmers and National Foods, said today (10 February) that executive vice president Senji Miyake would become president and CEO from next month. Current CEO Kazuyasu Kato will become Kirin’s chairman. The promotion of Miyake is the latest move from Kirin to establish “a leading company” in food and health... ...Read more »

Kirin Holdings’ purchase of Lion Nathan was implemented today, ensuring the creation of the largest supplier of food and beverages to Australian supermarkets. Kirin’s operations in Australia will now be merged under the name of Lion Nathan National Foods, although the day-to-day operations of the two firms are unlikely to change greatly. The headquarters of Lion Nathan will remain in Sydney, while the headquarters of National Foods will still be in Melbourne. Lion boss Rob Murray will... ...Read more »

Kirin Holdings has received approval from the Federal Court of Australia for their multi-billion dollar takeover of Australia’s second largest brewer, Lion Nathan. Japanese food and beverage conglomerate Kirin has been very active in the Australian marketplace over the past few years with purchases of National Foods and Dairy Farmers. They will now combine these operations into one company, Lion Nathan National Foods, and become the largest supplier to Australian supermarkets with a portfolio... ...Read more »

The Managing Director of Lion Nathan Australia, Andrew Reeves, is set to take the position of MD of dairy and juice group National Foods. Last week Ashley Waugh, the current Managing Director of National Foods, announced his intention to move on from the firm. The management shake-up comes following Lion Nathan shareholder approval for the takeover by Japanese beverage group Kirin Holdings. The approval means that Kirin will combine their Australian operations (which include National Foods) under... ...Read more »

National Foods has announced that CEO and Managing Director, Ashley Waugh, will resign in the wake of the confirmation of Kirin’s successful bid for Lion Nathan. Kirin, which owns National Foods, has reported that their Australian operations will be merged together under the name of Lion Nathan National Foods Pty Ltd with current Lion boss Rob Murray chosen to lead the combined entity. Mr Waugh has been with National Foods since January 2002, joining when National Foods acquired the King Island... ...Read more »

Kirin Holdings has received approval from Lion Nathan shareholders for a multi-billion dollar takeover that will create the largest food and beverage group in Australia. Australia’s second-largest brewer will join National Foods and Dairy Farmers as recent acquisitions by Kirin in Australia as the Japanese firm looks to boost profits while their home market remains in a rut. A meeting with shareholders was held today with 98.75 per cent of votes cast in favour of the scheme. Pending final court... ...Read more »

Kirin Holdings and Suntory have sought approval from the competition watchdog in Japan for their merger plan despite being yet to announce a final agreement on a deal, according to reports from Japan. The merger would create one of the world’s largest food and beverage companies - ranking in the top five globally, with a major presence here in Australia. Together, Suntory and Kirin would combine to create a powerhouse in the beverage industry in Australia; with Kirin having recently purchased... ...Read more »

Japanese brewer Kirin Holdings has reported a 16 per cent drop in operating profit as the exchange rate hurts their Australian operations and Japanese consumption remains subdued. Despite the drop in profit, the owner of National Foods consolidated Dairy Farmers into their Australian fruit juice and dairy business with better-than-expected results and has now raised their profit expectations for the full year. Kirin said that Lion Nathan, which they are currently seeking to buy (they currently own... ...Read more »

Kirin’s Australian operations will soon be renamed Lion Nathan National Foods Pty Ltd, provided shareholders of brewer Lion Nathan accept their takeover proposal. The Japanese brewer’s plans have been outlined today in the Scheme Booklet released by Lion Nathan. It shows that their large food and beverage operation in Australia - National Foods - will be united with Lion Nathan, while the management team will largely be drawn from Lion. The only part of their Australian operation that... ...Read more »