Do we like them?

Do we like Sapporo?

Japanese brewer and drinks maker (Sapporo Beer, Yebisu, Pokka Sapporo); based in Tokyo, selling its real estate arm.

Our score: 6 out of 10. A steady, long-established brewer that is refocusing on beer. We found no major scandals in our searches, but we also found little on workers or the environment, so we'd back it only cautiously.

Sapporo Holdings is one of Japan's big brewers, listed in Tokyo as 2501. It also runs the Yebisu brand and Pokka Sapporo drinks. For years it also owned a big property business, including Yebisu Garden Place in Tokyo.

In December 2025 it agreed to sell its real estate unit to a group led by KKR and PAG. The sale is staged between June 2026 and June 2029, and the proceeds are meant to go into the alcohol business. Reported deal values differ by source, from about $2.6bn to $3.1bn.

Pressure came from activist investor 3D Investment Partners, which pushed for the property business to be divested. Sapporo chose an outright sale rather than the spin-off 3D preferred, and it keeps a 30% stake in Yebisu Garden Place.

Hiroshi Tokimatsu took over as president from Masaki Oga in 2025. The company is also folding Sapporo Breweries into the parent from July 2026, and it sold the Stone brand in the US. CDP named it an A-list company for supplier engagement. Our searches turned up little on labour or privacy, so the score stays middling.