Japan's Fair Trade Commission raided the offices of the country's four dominant brewers — Asahi, Kirin, Sapporo and Suntory — on Wednesday, on suspicion they operated a cartel to fix wholesale prices for beer and beer-like drinks. All four companies confirmed the searches in separate statements and pledged full cooperation.
Broadcaster NHK reported the commission suspects the brewers coordinated prices over several years. Kirin Holdings said its Kirin Brewery unit was searched "on suspicion of a violation of the Antimonopoly Act," while Asahi Breweries said it was under investigation for a suspected breach of the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade.
The operation was backed by court-issued warrants — a compulsory, criminal-grade search. Kyodo News, citing a source familiar with the matter, said it is the agency's first-ever compulsory investigation involving food and beverage companies, and that the commission judged the case "particularly serious" given its broad potential impact on consumers.
The Brewers Association of Japan may also have been searched. According to Kyodo, company sales representatives allegedly held secret meetings — after regular monthly gatherings of the industry association — to exchange information and coordinate the timing and size of price increases.
The Japan Times reports that all four brewers raised prices on beer and beer-like drinks in October 2022, October 2023 and April 2025. Each time, the stated reason was identical: rising raw-material costs, alongside higher energy and transportation expenses.
That uniformity is exactly what investigators are questioning — whether the hikes were independent responses to costs, or were choreographed in advance behind closed doors.
Japan's National Tax Agency puts domestic sales of beer and low-malt beer at about ¥1.6 trillion (roughly $10 billion) in 2024. The four giants together control around 90% of the domestic beer market — so if the cartel allegations hold, virtually every beer bought in Japan over the past three years carried an inflated price.
Shares in the three listed brewers fell on Wednesday: Kirin dropped 2.31% in the morning session to a three-month low before closing down 1.4%, Asahi shed 1.0%, and Sapporo fell 1.8%. Suntory is privately held and was spared the market reaction.
All four companies deny wrongdoing but say they will cooperate. The commission is expected to continue gathering evidence, and could seek administrative penalties, heavy fines — or refer the case to prosecutors. A criminal filing would make this the first criminal-level antitrust case ever brought against Japan's food and beverage sector.