Japanese Beer Stocks Drop After Cartel Raids
Major Japanese beer makers' shares fell nearly 4% after the Fair Trade Commission raided four companies on suspicion of collusion in sales to wholesalers. The divisions of Kirin Holdings, Asahi Group Holdings, Sapporo Holdings and Suntory Beverage & Food were involved.
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 division of Kirin Holdings Co TSE:2503 was among the companies named in the report.