Business

Asahi Breweries to cut retail prices for wine imports from EU

JIJI

Asahi Breweries Ltd. has said it will cut the suggested retail prices for wine imported from the European Union, by 4 to 17 percent, starting from shipments on March 1.

The price cut by the unit of Asahi Group Holdings Ltd. comes as an economic partnership agreement between Japan and the EU is scheduled to take effect in February.

Prices for 40 items will be lowered. A bottle of Italian sparkling wine will sell for ¥1,771, down from ¥1,976, Asahi Breweries said on Wednesday.

Immediately after the EPA comes into force Japan will remove its tariff on EU wine, currently set at 15 percent or ¥125 per liter, whichever is less.

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