Shares of Japan beer makers fall after raids over cartel suspicion (updated)

Sapporo Breweries

07/10/2026 06:43

    (Changes story format, adds background and updates share
moves)
       TOKYO, Oct 7 (Reuters) - Shares of major Japanese beer
makers fell nearly 4% on Wednesday after Japan's Fair Trade
Commission said it raided the country's four major beer makers
on suspicion of collusion in sales of beer and other products to
wholesalers. 
    The beer divisions of Kirin Holdings Co  2503.T , Asahi
Group Holdings  2502.T , unlisted Suntory Holdings as well as
Sapporo Breweries  2501.T ,  which together control more than
90% of Japan's domestic beer market, are suspected of
coordinating prices over several years.
    Public broadcaster NHK said the Fair Trade Commission was
probing whether the companies formed a cartel when they raised
prices in April last year and October 2022, citing factors
including rising raw material costs.
    The anti-trust watchdog is expected to continue its
investigation and could file a criminal complaint, a source
familiar with the matter said, declining to be named because the
person was not authorised to talk to the press. The Commission
declined to elaborate on the investigation.
    Shares in Sapporo fell as much as 3.73%, while Kirin briefly
shed a little over 3% to hit its lowest level in more than three
months. Asahi dropped nearly 2.5% before recouping some losses.
    In statements, the four beer makers separately confirmed the
raids and said they intend to cooperate with the investigation.
    The Fair Trade Commission has carried out similar probes
into well-known Japanese companies in recent months. In June, it
raided six Japanese ice-cream makers, including Morinaga Milk
Industry   2264.T  and Meiji Holdings  2269.T , over allegations
of operating a cartel.

    (Reporting by Kentaro Okasaka; Writing by Hina Suzuki and
Satoshi Sugiayama;  Editing by Muralikumar Anantharaman and
Lincoln Feast.)