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Placement of Securities on the Stock Exchange of subsidiary Suntory is approved on Wednesday
Tokyo Stock Exchange on Wednesday will approve admission to trading of the securities of the company Suntory Beverage & Food Limited.
Home subsidiary holding company Suntory, as expected, is planning to raise capital from 3,900,000 dollars to 4,900,000 dollars from the offering.
Annual sales of the subsidiary is about 9,600,000 dollars. This is more than half of all revenue Suntory group.
Suntory is engaged in the development of overseas business in the past few years, waiting for the downturn in the domestic market. The company acquired a major French manufacturer of drinks. Suntory says it wants to strengthen its business abroad, using money from going public subsidiary.