ASAHI SAYS WAR CHEST CAN BE BASED ON REVENUE AND BORROWING
December 1st, 2009
BY GAVIN BLAIR
JAPAN'S Asahi Breweries has said it plans to build a Japanese Yen JPY400 billion (US$4.5 billion) war chest for overseas acquisitions by 2012 without raising cash from shareholders, instead using loans and revenue. Company officials have predicted it will earn Yen 360 billion (US$4 billion) by 2012 from overseas holdings including Schweppes Australia and Tsingtao Brewery in China. After dividend payments, the company estimates it will have Yen 225 billion (US$2.5billion), plus Yen 25-30 billion (US$288-335 million) in savings from cost-cutting at ...
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