Japan's Beer Giants Raided Over Alleged Price‑Fixing Cartel
Japanese officials have raided the country’s biggest beer makers over allegations they worked together to raise the price of their beverages.
Asahi and Kirin confirmed earlier that their premises were searched by the Japan Fair Trade Commission, adding that they would fully cooperate with the regulator.
Sapporo Breweries and Suntory Spirits were also reportedly searched, though no comment has been issued by the two firms.
All four companies saw their share prices slip after the investigation was announced, with Suntory remaining a private entity.
The Japan Times says the focus is on price increases announced in April 2025 and October 2022, which companies claimed were driven by higher costs for raw materials, energy and transport.
Kirin Holdings said its subsidiary Kirin Brewery Company was searched on "suspicion of a violation of the Antimonopoly Act" and that it would fully cooperate with the commission.
Kirin also stated that the impact on its financial results was not yet known and that it would disclose any material developments promptly.
Asahi Breweries said it was under investigation for a suspected violation of the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade, and pledged full cooperation.
The Japan Fair Trade Commission has yet to comment further on the investigation.
