3D Investment Partners becomes largest shareholder in Sapporo Holdings (updated)

Sapporo Breweries

05/01/2024 09:58

(Updates first paragraph to reflect that 3D has become largest
shareholder, adds Sapporo comments in paragraphs 4 and 5)
    By Anton Bridge
       TOKYO, Jan 5 (Reuters) - Singapore-based 3D Investment
Partners has become the largest shareholder in Japanese
beverages manufacturer Sapporo Holdings  2501.T  after
increasing its stake several times in recent months.
    In October last year, Sapporo launched a strategic review of
its business, having come under pressure from shareholders -
including 3D - unhappy with stagnant growth.
    Since then, 3D has increased its shareholding multiple
times. It held 5.09% until around the end of October but now
holds 15.97%, according to filings.
    A Sapporo statement said 3D's share of voting rights has
reached 16.19%, taking it above former leading shareholder The
Master Trust Bank of Japan.
    Separately, a spokesperson for Sapporo said "we will
continue to work to explain our medium-term strategy that aims
to improve corporate value so as to gain the understanding of
all of our shareholders."
    3D had previously criticised Sapporo for what it said was an
undue focus on its real estate business and suboptimal capital
allocation which 3D said hinders growth in the core alcoholic
beverage business.
        

 (Reporting by Anton Bridge and Shinichi Uchida; Editing by
Jacqueline Wong and Emelia Sithole-Matarise)
 ((Anton.Bridge@thomsonreuters.com;))