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Sapporo Breweries Ltd. (TYO:2501) is launching sales of the world's first beer produced using malt made 100% from
Sapporo Breweries Ltd. (TYO:2501) is launching sales of the world's first beer produced using malt made 100% from "space barley", the progenies of spaceflight barley seeds. Two hundred and fifty successful customers will be selected from among the applicants by lottery. Sapporo is contributing to the promotion of science education for children and the development of space science research in Japan and Russia by donating all of the proceeds to Okayama University.
Sydney, Dec 4, 2009 AEST (ABN Newswire) - Most Asian stock markets were lower Friday due to some profit taking selling before the release of US non-farm payrolls data.

Foreign exchange majors traded in tight ranges as investors remained cautious to the upcoming US employment figures. Tokyo shares gained on Thursday on the weakening yen yesterday. Japanese policymakers signalled further steps might be taken to stop currency appreciation if needed, after the Bank of Japan this week injected one trillion yen into short-term money markets.

Company News

Shares in Pioneer Corp (TYO:6773) was up Friday as the maker of audio equipment said it had concluded an alliance with Suning Appliance Co Ltd (SHE:002024), a Chinese home electronics retailer. The agreement would allow Pioneer to take advantage of Suning's Chinese sales network and Suning Appliance Co. to use Pioneer's brand name on flat-panel televisions sold in China. Suning is expected to pay Pioneer several hundred million yen in licensing fees for the five-year deal.

Japanese brewer Suntory Holdings, which is in talks to merge with domestic rival Kirin Holdings (TYO:2503), will buy a U.S. Pepsi bottler based in South Carolina and may consider more such acquisitions. Suntory will acquire independent Pepsi bottler Conway-Myrtle Beach Inc. through a joint venture 65% held by Suntory and 30% by PepsiCo Inc. (NYSE:PEP). The company did not disclose the terms of the deal but a source said the transaction was estimated at around 10 billion yen. Suntory now produces and sells Pepsi products in Japan and owns Pepsi Bottling Ventures in North Carolina.

Sapporo Breweries Ltd. (TYO:2501) is launching sales of the world's first beer produced using malt made 100% from "space barley", the progenies of spaceflight barley seeds. Two hundred and fifty successful customers will be selected from among the applicants by lottery. Sapporo is contributing to the promotion of science education for children and the development of space science research in Japan and Russia by donating all of the proceeds to Okayama University.

Doosan Infracore (SEO:042670), South Korean producer of machines, said it expects to see its excavator sales hit a record high in the Chinese construction machinery market this year. Its Chinese subsidiary has raised excavator sales to 13,294 units as of the end of November. If the company's excavator sales hit 14,000 as expectation this year, it will be able to retain its leading position for the seventh consecutive year, the company says.

Royal Dutch Shell (LON:RDSA) has pulled out of talks to join China Petroleum & Chemical Corp.(Sinopec)(SHA:600028)(HKG:0386) and Kuwait Petroleum Corp. in a Chinese refinery project estimated to cost US$9 billion, a person close to the negotiations said. The move is in line with Shell's strategy that it focuses on upstream business.

The Spanish Banco Bilbao Vizcaya Argentaria SA (BBVA)(NYSE:BBV) will raise its stake in China CITIC Bank (HKG:0998)(SHA:601998) to 15 per cent by exercising its option to purchase 1.924 billion H-shares of the Chinese bank with HK$12.4 billion, as BBVA seeks to benefit from growing trade between Asia and Latin America. The purchase price was agreed at HK$6.446 per share, 110 percent of the CITIC Bank's Hong Kong initial public offering price in 2007.

Contact

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net


Related Companies

Suntory       
Suning Appliance Co., Ltd.       
Sapporo Holdings Limited       
Sapporo Breweries Limited       
Royal Dutch Shell        
Pioneer Corporation       
PepsiCo, Inc.      
Kirin Holdings Company, Limited.        
Doosan Infracore Co., Ltd.       
China Petroleum & Chemical Corporation (SINOPEC)       
China CITIC Bank Corporation Limited          
Banco Bilbao Vizcaya Argentaria SA       

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