World
Japan raids Asahi, Kirin and Suntory over beer prices
BBC News··5d ago
Japanese officials raided the country's biggest beer makers over alleged price fixing. Asahi, Kirin and Suntory Spirits told the BBC their premises were searched by the Japan Fair Trade Commission and said they would cooperate. Reports also named Sapporo Breweries. The Japan Times said the probe centres on price rises in April last year and October 2022.
Prism
What It Means For You
- Beer buyers in Japan face an antitrust probe into how list prices were set.
- Asahi, Kirin and Sapporo shares fell after the investigation news broke Wednesday.
- Suntory is not publicly listed, so equity markets did not price its response.
What's Happening
- Kirin said Kirin Brewery Company was searched over a suspected Antimonopoly Act breach.
- Suntory confirmed an on-site inspection over domestic alcohol trade practices.
- Asahi said it was under JFTC investigation and would cooperate fully.
What the Companies Said
- Firms had cited higher raw material, energy and transport costs for earlier increases.
- Kirin said any financial impact was not yet determined.
- Suntory apologised for concern caused to customers and partners.
all-news
