On October 7, 2026, the Japan Fair Trade Commission (FTC) conducted coordinated raids on the offices of the country's four largest beer manufacturers: Asahi, Kirin, Sapporo, and Suntory. The Japanese authorities initiated the compulsory criminal investigation over suspicions that the brewing giants colluded to set the price of beer and other beverages in a violation of the Antimonopoly Act.
The alleged price coordination primarily involved sales to wholesalers, which supply supermarkets, convenience stores, and the hospitality sector. A practice that media reports said could have forced drinkers to pay over the odds for their everyday beverages. Following the news of the investigation, the stock market reacted immediately, with shares in Sapporo falling by 3.7 percent, Kirin by over 3 percent, and Asahi by nearly 2.5 percent. The beer division of Suntory remains unlisted.
Together, the four companies control more than 90 percent of the domestic beer market, which generates over JPY 1.61 trillion (USD 10.7 billion) annually. The investigation comes at a highly sensitive time for the domestic beverage industry, as manufacturers are simultaneously navigating the final phase of a historic liquor tax reform that recently equalized tax rates across standard and alternative beer categories (inside.beer, 29.09.2026).
The FTC stated it will continue its investigation into the food and beverage sector, with the potential of filing formal criminal complaints with public prosecutors.
