The two Japanese beer prducers Kirin Brewery and Asahi Breweries are to each acquire a 3% stake in Yukijirushi Access Inc, the distribution business owned by Snow Brand Milk Products Co.

The 3% stakes will cost the brewers ¥1,163.28 (US$9.48m) and reduce Snow Brand’s stake in the business to 27.72%.

Snow Brand Milk will use the proceeds to finance restructuring and improve its financial health as part of a revival plan.