Coca-Cola Co., the world's largest soft-drink maker, will buy a 34 percent stake in Tokyo Coca-Cola Bottling Co. to expand its business in the Japanese market.
Coca-Cola Japan Co., the company's Japanese subsidiary, will buy new shares of the Tokyo-based bottler, according to a statement released Tuesday thorough Business Wire.
Coca-Cola Japan will name a new president of Tokyo Coca-Cola and appoint one-third of its board members. Keiji Takanashi, representative director and president of the bottler, will stay on as chairman and chief executive officer.