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Japanese officials have raided the country’s biggest beer makers over allegations they worked together to raise the price of their beverages.<\/b><\/p>\n
Asahi, Kirin and Suntory Spirits confirmed to the BBC their premises had been searched by the Japan Fair Trade Commission, adding that they would fully cooperate with the government authority.<\/p>\n
There are reports Sapporo Breweries was also raided. The firm has been contacted for comment.<\/p>\n
Asahi, Kirin and Sapporo all saw their share price fall after news of the investigation broke on Wednesday. Suntory is not publicly-listed.<\/p>\n
According to the Japan Times, the investigation centres on the companies raising their prices in April last year and in October 2022.<\/p>\n
All four companies announced increases, citing the rising cost of raw materials as well as other factors such as energy and transportation. <\/p>\n
Kirin Holdings said its subsidiary, Kirin Brewery Company, was searched “on suspicion of a violation of the Antimonopoly Act”. <\/p>\n
It said it takes the matter “very seriously”, adding it would “fully cooperate with the Japan Fair Trade Commission’s investigation and any requests for cooperation”.<\/p>\n
Kirin Holdings said: “At present, the impact of this matter on the company’s financial results has not been determined. The company will promptly disclose any material developments as they arise.”<\/p>\n
A spokesperson for Suntory confirmed “an on-site inspection” had taken place “in connection with a potential violation of Japan’s Antimonopoly Act relating to domestic alcohol trade practices”. <\/p>\n
The company said: “We sincerely apologise for any concern or inconvenience this situation may cause to our customers, business partners, and other stakeholders. We will cooperate fully with the JFTC’s investigation.”<\/p>\n
Asahi Breweries said it was “subject to investigation by the Japan Fair Trade Commission”. It added: “We will fully cooperate with the commission.”<\/p>\n
The Japan Fair Trade Commission has been contacted for comment.<\/p>\n<\/div>\n