Coca-Cola Japan to Hike Prices for 1st Time in 27 Yrs
Tokyo, Jan. 8 (Jiji Press)--Coca-Cola Bottlers Japan Inc., the country's biggest beverage maker, said Tuesday it will raise the prices of Coca-Cola and other drinks for the first time in 27 years due to higher materials and logistics costs.
Meanwhile, Mercian Corp., under the wing of Kirin Holdings Co. <2503>, announced plans to lower the prices of wine made within the European Union, as Japanese import tariffs will be removed upon the effectuation of the economic partnership agreement between Japan and the EU in February.
Coca-Cola Bottlers Japan's price hike reflecting logistics costs due to labor shortages followed similar moves by food makers, such as Nippon Flour Mills Co. <2001>.
Other beverage makers are likely to follow suit.
The price of a 1.5-liter Coca-Cola bottle will rise to 367 yen from the current 345 yen, for shipments from April 1.
[Copyright The Jiji Press, Ltd.]