Tokyo, Japan, 25 September 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced the listing of Orion Breweries (“Orion”), one of Japan’s leading breweries, on the Prime Market of the Tokyo Stock Exchange. As part of the IPO, Carlyle has sold its entire stake in Orion, assuming full exercise of the over-allotment option.
Founded in 1957 in Okinawa, Orion has over 60 years of history as a brewery and is today recognized as the region’s leading beer brand. Known for its flagship “Orion” branded beer, the company produces and sells a range of alcoholic beverages and soft drinks while also operating a hotel and tourism business.
Carlyle, alongside Nomura Capital Partners, acquired Orion in 2019 and have since worked closely with Orion’s management team to develop and execute a long-term growth strategy aimed at enhancing the company’s brand and driving sustainable growth. This has been achieved through strengthening the company’s management through the appointment of new talent, capturing tourism demand in Okinawa while also expanding the brand overseas, and enhancing manufacturing capacity and optimizing of the supply chain.
Takaomi Tomioka, Co-Head of Carlyle Japan, said: “It has been a real pleasure to work with Murano-san and the Orion management team to grow a much-loved brand. We are grateful to the company’s employees and stakeholders, including the people of Okinawa, for their trust and support. Today’s listing is an important milestone for the company and we wish them continued success in the years ahead.”
Hajime Murano, President and CEO of Orion, said: “We have received invaluable strategic guidance from Carlyle following their investment in 2019 that has contributed significantly to enhancing our corporate value. We are grateful for their support and dedication, which ultimately led to Orion’s listing on the Prime Market of the Tokyo Stock Exchange. Looking ahead, we remain committed to building a brand rooted in its Okinawan heritage that brings smiles to people around the world.”
Carlyle’s Japan buyout platform has invested more than JPY 600 billion across approximately 40 private equity investments since 2000. Orion represents the tenth portfolio company of Carlyle’s Japan buyout platform to become a listed company in the region, and follows the IPO of Rigaku Holdings Corporation in October 2024.
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About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $465 billion of assets under management as of June 30, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.
This press release does not constitute an offer to sell, or a solicitation, or an invitation to trade securities in Japan, the United States or any other state or applicable jurisdiction. Securities of Orion Breweries may not be offered or sold absent required registration or qualification under the securities laws of applicable states or jurisdiction or an exemption from such registration(s). Any public offering of securities to be made in Japan, the United States or any other state or other jurisdiction will be made by means of a prospectus that may be obtained from Orion Breweries and that will contain detailed information about the Orion Breweries and its management, as well as financial statements. This press release has not been reviewed or approved by any regulator or securities exchange and is for information purposes only. All information and statements provided herein are as of the date of this press release and Carlyle is under no obligation to update any statement.
Media Contacts
Carlyle
Andrew Kenny
+44 7385 662334
andrew.kenny@carlyle.com
Kaede Haseda
+81 80 4209 1053
kaede.haseda@carlyle.com
Brunswick Group
Masato Ui / George Ohyama
+81 80 6538 2109 / +81 80 7340 1015
carlylejp@brunswickgroup.com
