Japanese beer maker shares declined following inspections by the Japan Fair Trade Commission. Regulators are investigating Asahi Breweries, Kirin Brewery, Sapporo Breweries, and Suntory Spirits for suspected price-fixing. Authorities suspect the brewers coordinated price increase timing and levels.
Sapporo shares dropped up to 3.7%, while Kirin Holdings and Asahi Group Holdings fell up to 3% and 2.5%, respectively. The four companies dominate the Japanese beer market and confirmed full cooperation with the investigation. The probe occurs amid a liquor tax reform that lowered levies on beer, shifting focus to higher-margin products.
Brewers also face challenges from Japan's shrinking population affecting long-term consumption. Nikkei earlier reported the investigation.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing