Sapporo Holdings has attracted about 10 potential buyers for its real estate assets, marking a significant shift in the Japanese brewer’s strategy to refocus on its core beer business, Nikkei reported.
The property portfolio, valued at approximately 400 billion yen ($2.6 billion), includes prime Tokyo locations like Yebisu Garden Place and a commercial complex in the Ginza district. Major Japanese developers Mitsui Fudosan, Mitsubishi Estate, and Tokyu Land submitted bids alongside U.S. private equity firms KKR and Bain Capital before the December 9 deadline.
Sapporo plans to evaluate shortlisted candidates in early 2024, with a final decision expected by spring. The company announced its intention to divest real estate holdings in February as part of a broader restructuring plan.
The brewer’s President Masaki Oga indicated the company is seeking proposals for its entire real estate operation rather than individual properties. The proceeds from any potential sale would fund acquisitions to strengthen Sapporo’s beverage business.
The move reflects a broader trend among Japanese conglomerates to streamline operations and shed non-core assets under pressure from investors to improve returns. The sale could reshape Tokyo’s commercial property landscape, with domestic developers and international funds competing for rarely available prime locations.
