Days after the putsch in February 2021, Kirin announced it would end its joint venture Myanmar Brewery with the junta-linked MEHPCL, saying it was"deeply concerned by the recent actions of the military in Myanmar".
Kirin said Thursday that a share buyback agreement worth about 22.4 billion yen had been reached to transfer its 51 percent stake back into the subsidiary, ending the joint venture. According to figures published by Kirin in 2018, Myanmar Brewery -- whose beverages include the ubiquitous Myanmar Beer brand -- boasted a market share of nearly 80 percent.
Investors piled into Myanmar after the military relaxed its iron grip in 2011, paving the way for democratic reforms and economic liberalisation.
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