Booze is far from the only thing in Japan that has fallen prey to expense-slashing and misguided investing over the past three decades, says Bloomberg Opinion’s Gearoid Reidy.
TOKYO: Some 4,600 grocery items are becoming more expensive this month in Japan as the country’s food and beverage makers continue to pass on costs amid
The beer industry exemplifies that penny-pinching attitude and its dangers better than any other. To understand what’s happening, we need to go back to the early 1990s after Japan’s economic bubble burst. The price difference is substantial: A 350ml can of Asahi Super Dry costs 207 yen or so on Kakuyasu Group’s online store, while Hon Kirin, a best-selling alternative, is just 160 yen.
Meanwhile, the emphasis on reducing expenses above all else got customers used to lower price points, making hikes difficult even when raw materials rose. After a raise at my old workplace, I was lucky enough to be able to afford to switch back to real beer. Now, even that can of Clear Asahi will cost about 10 yen more this month. Nearly a quarter of those surveyed last year by an organisation of brewers say they expect to drink more real beer after the changes come into effect.
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