Kirin to Become Fancl's Top Shareholder

Economy

Tokyo, Aug. 6 (Jiji Press)--Kirin Holdings Co. <2503> said Tuesday that it will become the top shareholder of Fancl Corp. <4921>, a Japanese cosmetics and dietary supplement maker.

The Japanese beverage group will spend 129.3 billion yen to acquire a 33 pct stake in Fancl in terms of voting rights on Sept. 6.

Kirin aims to develop supplements, skincare products and other items with Fancl in an effort to strengthen its health care business.

It plans to send two directors and one auditor to Fancl.

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