Japanese brewer shares fall after antitrust raids over suspected price cartel

What happened: Japan's antitrust watchdog raided four major brewers over suspected beer price coordination. Shares of Kirin, Asahi and Sapporo fell. Key numbers: Kirin Holdings fell 2.1% to 2,753 yen. Asahi Group Holdings dropped 1.4% to 1,571 yen. Sapporo Holdings declined 1.3% to 1,850.5 yen. Why it matters: The Japan Fair Trade Commission used its criminal investigation authority, the first time the four largest beer companies were searched together over a suspected price cartel. Sapporo said the earnings impact is unknown.

Japan's antitrust watchdog raided four major brewers over suspected beer price coordination. Shares of Kirin, Asahi and Sapporo fell.

The Japan Fair Trade Commission used its criminal investigation authority, the first time the four largest beer companies were searched together over a suspected price cartel. Sapporo said the earnings impact is unknown.