Japan's Kirin brewery to withdraw from Myanmar
14 February 2022
Japanese drinks giant Kirin said Monday (Feb 14) it will withdraw from Myanmar, after a failed bid to disentangle its operations from a joint venture with a junta-owned company after last year's coup.
Kirin said its decision comes after months of wrangling following the coup last February, which prompted the company to express concerns about human rights and eventually seek to end its joint venture Myanmar Brewery Limited.
Kirin has decided "to withdraw from the business in Myanmar in order to urgently terminate its joint venture partnership" with military-linked MEHPCL, the company said in a statement.
[...] Kirin said it had taken "every measure to find a way forward that would allow it to continue to contribute to Myanmar's economy and society".
That included filing for arbitration in Singapore in a bid to end the joint venture and proceed without the military-linked partner.
"In the end, Kirin Holdings determined that it would be difficult to quickly terminate the joint venture in the manner it desires," the company added in a statement.
"Therefore, Kirin Holdings has now commenced and is proceeding with discussions with MEHPCL in order to withdraw from the business in Myanmar, giving top priority to the termination of the joint venture as soon as possible."
A junta spokesperson did not immediately respond to a request for comment.