For Kazuo Tachibana, a liquor store owner in Yokohama, the recent widespread price hike on alcohol looks set to deliver another blow to a business already taking knocks.
"Customer spending has fallen from earlier this year, and many people seem much more hesitant to shop," the 81-year-old said before the prices of thousands of alcoholic and nonalcoholic beverages rose by an average of 4% to 13%, including the first canned beer price rises in 14 years, on Oct. 1.
Japan's four major brewers — Asahi Breweries, Kirin Holdings, Suntory Holdings and Sapporo Breweries — and many other smaller outfits have upped asking prices on beverages due to increasing input costs as inflation rises in Japan.