Kirin Holdings Co. said Monday it will close two out of 11 domestic breweries before the end of 2010 to boost production efficiency in the face of a saturated beverage market.
The move comes as Kirin, Japan's second-largest beer maker last year, pushes ahead with merger talks with Suntory Holdings Ltd., the No. 3 brewer, to create one of the world's largest beverage and food companies.
Kirin said it is aiming for an operating profit of ¥188 billion on consolidated sales of ¥2.49 trillion by 2012. For the current year through December, the company anticipates an operating profit of ¥125 billion on sales of ¥2.3 trillion.