Myanmar: Kirin terminates joint-venture with military conglomerate MEHL
"Statement on the situation in Myanmar", 5 February 2021
Kirin Holdings Company, Limited (President and CEO: Yoshinori Isozaki) is deeply concerned by the recent actions of the military in Myanmar, which are against our standards and Human Rights Policy.
We decided to invest in Myanmar in 2015, believing that, through our business, we could contribute positively to the people and the economy of the country as it entered an important period of democratization. Our aspiration was and remains to create a positive impact on Myanmar’s economy and society through our operations at Myanmar Brewery Limited and Mandalay Brewery Limited.
Given the current circumstances, we have no option but to terminate our current joint-venture partnership with Myanma Economic Holdings Public Company Limited, which provides the service of welfare fund management for the military. We will be taking steps as a matter of urgency to put this termination into effect.
We will aim to provide updates as soon as practicably possible.