Kirin Brewery Co. and Takeda Chemical Industries Ltd. said Wednesday they have agreed to set up a joint venture in April to combine their seasoning and other food business operations.
Takeda Kirin Foods Corp., which will be based in Tokyo, will be owned 51 percent by Japan's biggest brewer and the remainder by Japan's top pharmaceutical firm, the two firms said in a press release.
Takeda will move some 200 employees in its seasoning business and its factory in Takasago, Hyogo Prefecture, to the new firm, while Kirin will take four seats on the board, company officials said, adding that the capital of the new firm will be several billion yen.