Kirin Holdings to raise prices on some of its products by around 8%-9% starting May 1, citing rising costs of raw materials, containers, packaging materials, energy and logistics

TOKYO , January 19, 2024 (press release) –

Kirin Beverage Company, Limited will implement price revisions for certain products from May 1, 2024 , due to the increasing costs of raw materials and related expenses. The price revision rate will be +8 to +9% from the recommended retail price excluding sales tax.

Key Highlight:

* The price revision is due to the soaring prices of raw materials, containers, packaging materials, energy, and logistics

Original Press Release:

TOKYO , Jan. 18 -- Kirin Holdings issued the following news release:

Kirin Beverage Company, Limited ( Kirin Beverage ) will revise the prices for certain products delivered from Wednesday, May 1, 2024 .

In order to deliver safe and high quality products at reasonable prices, we have been working hard to improve productivity and reduce costs in all aspects of our business, and have been making efforts to improve our corporate management and rationalize our operations. However, we expect that the uncertain and difficult business environment will continue in the future, as prices of raw materials, containers and packaging materials, and related costs such as energy and logistics continue to soar. Under these circumstances, we have once again decided, out of necessity, to implement price revisions for some of our products.

Kirin Beverage will continue its efforts to improve management efficiency through continuous corporate efforts to deliver safe, high-quality products that will delight consumers.

Summary of Price Revision

Disclaimer: Table can be viewed at: https://www.kirinholdings.com/en/newsroom/release/2024/0118_01.html

About Kirin Holdings

Kirin Holdings Company, Limited is an international company that operates in the Food & Beverages domain (Food & Beverages businesses), Pharmaceuticals domain (Pharmaceuticals businesses), and Health Science domain (Health Science business), both in Japan and across the globe.

Kirin Holdings can trace its roots to Japan Brewery which was established in 1885. Japan Brewery became Kirin Brewery in 1907. Since then, the company expanded its business with fermentation and biotechnology as its core technologies, and entered the pharmaceutical business in the 1980s, all of which continue to be global growth centers. In 2007, Kirin Holdings was established as a pure holding company and is currently focusing on boosting its Health Science domain.

Under the Kirin Group Vision 2027 (KV 2027), a long-term management plan launched in 2019, the Kirin Group aims to become “A global leader in CSV [*] creating value across our world of Food & Beverages to Pharmaceuticals.” Going forward, the Kirin Group will continue to leverage its strengths to create both social and economic value through its businesses, with the aim of achieving sustainable growth in corporate value.

Footnote:

[*]: Creating Shared Value. Combined added value for consumers as well as for society at large.

[Category: Beverage & Tobacco, Soft Drinks, Specialty Retail, Regulatory and Legal]

Source: Kirin Holdings