Orion Breweries Ltd., the Okinawa-based beer maker owned by Carlyle Group and Nomura Holdings, is preparing to launch an initial public offering in Tokyo as early as next month, according to sources cited by Bloomberg.
Nomura Securities, SMBC Nikko Securities, and Mizuho Financial Group have been appointed as underwriters. The company could announce the listing date and offering size as soon as next week, though timing remains subject to market conditions.
The planned flotation comes as inflation pressures weigh on Japanese consumer spending and beer sales continue to decline, with June volumes at major brewers falling 4% year-on-year. A successful debut would provide a boost to Japan’s IPO market, which has seen limited activity since the high-profile JX Advanced Metals listing in March.
Carlyle Japan co-head Takaomi Tomioka indicated earlier this year that the firm was targeting an Orion IPO in 2025. Carlyle and Nomura jointly acquired the brewer in 2019 for about ¥57bn ($386m).
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AloJapan.com