Japanese Beer Maker Asahi Announces Price Hikes
Japanese beer maker Asahi Group Holdings 2502.T has announced its first price increases for canned beer in 14 years and a range of other price hikes to cope with rising costs.
Retail prices on 162 items, mostly beer products, will rise between 6% and 10% from 1 October, reflecting increasing costs for materials, energy and transportation, it said.
After decades of deflation in Japan, consumer price pressures have mounted as the cost of fuel and other commodities soar in the wake of Russia's invasion of Ukraine and due to logistical snags caused by the coronavirus pandemic.
Rivals Kirin Holdings Co 2503.T and Sapporo Holdings Ltd 2501.T have said that they are also considering price increases but have not made a decision yet.
A Suntory Holdings Ltd spokesperson said that the company had no comment, noting the company's last price changes for its beer and wine products were in October 2020.
Japan's Biggest Beer Maker
Asahi is Japan's biggest beer maker, commanding nearly 40% of the market.