TOKYO -- Japan's Kirin Holdings will increase its investment in the emerging Indian brewer of the popular Bira 91 beer by $70 million, part of a push into the global craft beer market as Japanese sales continue to decline.

Kirin, which invested $15 million in B9 Beverages during 2021, currently owns a 10% stake. The Japanese company did not disclose how large a share it will hold after the new investment, scheduled to be completed in November.