A beer brewer based in Okinawa Prefecture has been listed on the top-tier Prime Market of the Tokyo Stock Exchange. TSE officials say the IPO on Thursday by Orion Breweries is the first for a maker from the Japanese southern prefecture.
Orion President Murano Hajime marked the occasion by ringing a ceremonial bell at the stock exchange.
The IPO price of Orion’s shares was 850 yen. But it had no opening price in the morning session because of an overwhelming number of buyers.
The shares first traded at 1,863 yen later in the afternoon and ended the session at 1,950 yen.
Japan’s fifth-largest beer brewery was founded in 1957. Today it holds a dominant share and position in the Okinawan market.
Japanese securities giant Nomura Holdings and the US-based investment fund Carlyle acquired Orion in 2019.
The company aimed for an IPO by improving profitability through the development of new products and enhanced online sales.
Company officials hope the listing will raise its brand recognition. Murano says he hopes to take advantage of this listing to enter the global market. He added that he would like to bring happiness to more people around the world by delivering Orion beer.
The brewery says it will grow its overseas sales. The United States and Taiwan have seen strong growth.
The company also plans to strengthen the foundation of its beer and tourism-related businesses in the prefecture, capitalizing on demand from tourists from overseas.
AloJapan.com