March 28, 2011

Company Name: ASAHI BREWERIES, LTD.
President and Representative Director: Naoki Izumiya
Securities Code: 2502
Stock Listings: Tokyo Stock Exchange, First Section
and Osaka Securities Exchange, First Section
Contact: Public Relations Department
Phone: +81-3-5608-5126

Notice of Results of Exercise of Voting Rights
at the 87th Annual General Meeting of Shareholders
ASAHI BREWERIES, LTD. (the “Company”) announces the results of the exercise of voting
rights at the 87th Annual General Meeting of Shareholders (the “Meeting”) held on March 25,
2011, as follows:
All agenda items were approved and resolved.
1. Items to be resolved:
Item 1: Appropriation of surplus
1. Year-end dividends(1) Type of dividend asset
Cash(2) Allocation of dividend assets to shareholders and total amount of allocation¥12.50 per share of common stock
Total amount of payout: ¥5,817,072,575(3) Effective date of dividend payment
March 28, 2011
2. Other appropriation of surplus(1) Surplus account showing an increase, and the amount of such increase
General reserves:¥10,000,000,000(2) Surplus account showing a decrease, and the amount of such decrease
Retained earnings carried forward:-1-¥10,000,000,000

Item 2: Approval of absorption-type demerger agreement
The Company proposes to transfer its alcoholic beverages business to Asahi GroupHoldings, Ltd. (said trade name is scheduled to be changed to “Asahi Breweries,Ltd.” as of July 1, 2011), through an absorption-type demerger to take effect on July
1, 2011.
Item 3: Partial amendments to the Articles of Incorporation
In accordance with the Company’s transition of its management structure from thatof an operating holding company to a pure holding company, the Company’s tradename and business purposes shall be amended (Article 1 and Article 2 of the current
Articles of Incorporation).
Item 4: Election of eleven (11) Directors
Hitoshi Ogita, Naoki Izumiya, Kazuo Motoyama, Akiyosi Koji, Katsuyuki
Kawatsura, Toshihiko Nagao, Toshio Kodato, Yoshihiro Tonozuka, Mariko Bandoand Naoki Tanaka were reelected, and Ichiro Ito was newly elected as Directors.
Item 5: Election of three (3) Corporate Auditors
Takahide Sakurai and Naoto Nakamura were reelected, and Yukio Kakegai wasnewly elected as Corporate Auditors.
2. Status of voting rights
Number of Shareholders with voting rights:

114,481

Total number of voting rights held by the shareholders:

4,645,657

3. Status of exercise of voting rights
Exercise of voting rights
on or prior to the day

Exercise of voting

immediately preceding

rights by attendance atthe Meetingthe date of the Meeting(Prior Exercise)
Number of voting rights

3,757,447

exercised-2-

15,431

Total voting rights
exercised3,772,878

4. Number of voting rights concerning the indication of “for”, “against” or “abstain” for each
item; Requirements for adoption; Results of resolutionsRatio ofItems to Be Resolved

For

AgainstAbstainfavorable

Results

votes
Item 1:

3,756,025

1,565

0

99.96

Approved

3,753,306

1,884

2,408

99.89

Approved

3,753,405

1,787

2,408

99.89

Approved

Hitoshi Ogita

3,747,727

6,192

3,529

99.74

Approved

Naoki Izumiya

3,748,137

5,782

3,529

99.75

Approved

Kazuo Motoyama

3,748,149

5,770

3,529

99.75

Approved

Akiyoshi Koji

3,748,160

5,759

3,529

99.75

Approved

Katsuyuki Kawatsura

3,748,189

5,730

3,529

99.75

Approved

Toshihiko Nagao

3,748,1425,777

3,529

99.75

Approved

Toshio Kodato

3,748,181

5,738

3,529

99.75

Approved

Yoshihiro Tonozuka

3,748,120

5,799

3,529

99.75

Approved

Mariko Bando

3,750,579

6,743

126

99.82

Approved

Naoki Tanaka

3,751,072

6,318

58

99.83

Approved

Ichiro Ito

3,525,489

231,900

58

93.83

Approved

Takahide Sakurai

3,077,709

679,92358

81.90

Approved

Naoto Nakamura

3,752,462

5,173

58

99.86

Approved

Yukio Kakegai

3,699,478

58,15558

98.45

Approved

Appropriation of surplus
Item 2: Approval ofabsorption-typedemerger agreement
Item 3: Partial
amendments to theArticles of Incorporation
Item 4: Election ofeleven (11) Directors

Item 5: Election of three(3) Corporate Auditors-3-Notes:
The requirement for the adoption of each item is as follows:・Item 1:
Approval of a majority of the voting rights of the shareholders present
・Item 2 and Item 3:
Approval at a annual general meeting of shareholders at which shareholders holding
one-third (1/3) or more of voting rights of the shareholders entitled to vote shall be present,by two-third (2/3) or more of the voting rights of the shareholders so present
・Item 4 and Item 5:
Approval at a general meeting of shareholders at which shareholders holding one-third(1/3) or more of voting rights of the shareholders entitled to vote shall be present, by amajority of the voting rights of the shareholders so present
5. Reason why a portion of the voting rights held by the shareholders present at the Meeting was
not added to the number of voting rights
Because the required majority approval for all agenda items was met by the Prior Exercise,the number of voting rights concerning the indication of “for”, “against” or “abstain” as toeach item of the shareholders present at the Meeting was not tallied.

-4-