Yakult Honsha Co. said last month that a Singapore unit of French foods giant Danone SA has raised its stake in the Japanese lactic bacteria drink maker to 19.58% from 5.10% to become the biggest shareholder.
Danone, known for its Dannon dairy products, LU cookies and Evian mineral water, acquired the original 5.10% holding in the Japanese company in April 2000 through the unit. Yakult said Dannon told it that it raised the stake in Yakult as a long-term investment reflecting Danone's confidence in the company and its management. Yakult said it will continue its business as it has been.