Japanese authorities raided the offices of the country’s biggest beer makers last Wednesday, launching a probe into alleged price‑fixing.
The Japan Fair Trade Commission (JFTC) searched the premises of Asahi Breweries and Kirin Holdings, while Sapporo Breweries and Suntory Spirits were also targeted, the companies confirmed in statements to the BBC. All four firms have said they will fully cooperate with the investigation.
The raids followed the companies’ own declarations of price increases earlier this year. Asahi, Kirin and Sapporo had all raised prices in April 2025, while Kirin had cited a price jump in October 2022. The firms said they were responding to rising raw material, energy and transportation costs.
After the raid news broke, the shares of Asahi, Kirin and Sapporo all fell, while Suntory – a private firm – has not disclosed its market impact. The JFTC has not yet released a full statement on the probe.
Kirin Holdings said it was being searched “on suspicion of a violation of the Antimonopoly Act” and pledged to “fully cooperate” with any request by the commission. The company also warned that the investigation’s impact on its financial results had not yet been determined.
Asahi Breweries added that it was under investigation for a suspected violation of the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade, and reiterated its commitment to full cooperation.
The JFTC remains a key regulator, with a mandate to prevent unfair competition. The outcome of the investigation could shape the future of Japan’s brewing sector and potentially lead to significant penalties for the firms involved.
