Sapporo Holdings investor 3D writes to external directors seeking overhaul -Nikkei

Sapporo Breweries

07/11/2022 24:16

TOKYO, Nov 7 (Reuters) - Sapporo Holdings Ltd  2501.T 
investor 3D Investment Partners has reached out to the Japanese
beer maker's five external directors seeking major changes in an
attempt to improve its performance, the Nikkei business daily
reported on Monday.
    Unhappy with Sapporo's low profit margins and return on
equity, the Singapore-based fund has asked the five outside
directors to postpone the announcement of a new business plan
scheduled on Wednesday, among other requests, the paper said.
    3D Investment Partners and Sapporo Holdings declined to
comment on the report. 
    In a letter to the directors dated Nov. 3, the fund noted
that Sapporo Holdings had failed to meet its sales target during
the past 15 years, and that its return on equity (ROE) averaged
2% in the past five years - far lower than rivals Kirin
Holdings's  2503.T  14% and Asahi Group Holdings's  2502.T  11%,
the Nikkei said.    
 (Reporting by Chang-Ran Kim and Makiko Yamazaki; Editing by
Christian Schmollinger)
 ((ran.kim@thomsonreuters.com; +81-3-4520-1228;))