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Finance

Kirin draws down debt at a faster clip with eye on growth

Beverage giant seeks financial leeway for acqusitions

Jettisoning a money-losing Brazilian business has helped to improve Kirin's profitability.

TOKYO -- Kirin Holdings is rapidly reducing its interest-bearing debt, hoping to lay the groundwork for future growth investments as profitability improves.

Initially, the beverage giant planned to cut 135 billion yen ($1.22 billion) of its debt over the three years ending December 2018. It is now seeks to push the reduction to 220 billion yen by this December, President Yoshinori Isozaki told The Nikkei.

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