Japanese beverage giant Kirin has decided to sell its Tokyo headquarters in order to reduce debts as the group aggressively buys foreign firms in a bid to expand its global reach, a report said Sunday.

Kirin Holdings and its main subsidiary Kirin Brewery Company will sell their headquarters building in Tokyo to raise an estimated 15 billion to 30 billion yen ($170 million to $340 million), the Yomiuri Shimbun newspaper said.

The group will rent a different building in Tokyo as its global headquarters, the paper said.

The company will use the money to reduce debts accumulated after a series of major overseas acquisitions, according to the report.

AFP