Japan: Brewers racing to launch new products ahead of tax cut

Major Japanese brewers are racing to launch new products, expecting that a tax cut in October and the waning impact of the COVID-19 pandemic will help reverse a downturn in the domestic market, Jiji Press reported on July 6.

"This year is an important year for the beer market that comes once in a few years," a beer maker official said.

Beer tax will be lowered by 6.65 yen per 350 millilitres in October. Major makers are already launching new products that are more expensive than their mainstay products, which are priced at around 231 yen per 350-milliliter can.

Asahi Breweries Ltd., which is believed to be the top Japanese brewer in volume last year, is scheduled to launch Asahi Shokusai on July 11 in a special can that produces foam when opened.

The company plans to sell the new product around 284 yen per 340-milliliter can, a price that could be regarded as steep. Still, an Asahi official said confidently, "The trend of treating oneself to a bit of luxury will continue."

06 July, 2023