Kirin, Mitsubishi Corp agree on partial transfer of Yokohama Akarenga shares

Kirin Holdings Co has agreed to transfer 51% of its shares in Yokohama Akarenga Inc to Mitsubishi Corp. The share transfer (21,318 of the total 30,000 shares held by Kirin) will take place in December.

Yokohama Akarenga was established in July 2000 with the aim of creating a lively and culturally active space in the Yokohama port area. The company renovated the Yokohama Red Brick Warehouse, Akarenga Soko, a famous historical landmark once used as Yokohama's customs facility, and transformed it into a bustling shopping mall and restaurant complex frequented by locals and tourists alike. Customer needs have nowadays become more diverse, however, requiring that commercial establishments provide much more sophisticated services than they did before.

Therefore, in an effort to provide better service to customers and contribute to the prosperity of the Yokohama port area, Kirin has decided that transferring a portion of its Akarenga shares.

Kirin will remain as a shareholder in Akarenga following the transfer of shares and will continue its efforts to help improve the Yokohama port area.

© JCN Newswire