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Myanmar Crisis

Japan's Kirin writes off $193m for Myanmar beer unit

Military-linked foreign businesses hit by double whammy of February takeover and COVID

As citizens protested the coup, Myanmar Brewery, in which Kirin owns 51%, became the target of a boycott as many restaurants stopped serving the brand.   © Reuters

TOKYO -- Overseas businesses with links to the Myanmar military, such as Japan's Kirin Holdings, are reporting losses amid a shaky market outlook exacerbated by the military takeover in February.

Kirin Holdings on Tuesday posted an impairment loss of over 21.4 billion yen ($193 million) in the six months through June on account of its beer production businesses in Myanmar.

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