Asahi Breweries to Cut EU Wine Prices

Economy

Tokyo, Dec. 26 (Jiji Press)--Japan's Asahi Breweries Ltd. said Wednesday that it will cut the suggested retail prices of wine imported from the European Union by 4-17 pct from shipments on March 1.

The price cut by the unit of Asahi Group Holdings Ltd. <2502> comes as an economic partnership agreement between Japan and the EU takes effect in February next year.

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

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

END

[Copyright The Jiji Press, Ltd.]

Jiji Press