According to NHK TV’s report on December 27, Japan will cancel import tariffs on European wines after the economic cooperation agreement between Japan and the European Union takes effect in February next year, leading Japanese wine companies Suntory Group and Asahi Group announced that they will lower the prices of European wines they are proxy for next year.
Suntory International Wine Company, a member of Suntory Group, announced that the ex-factory price of 69 kinds of European wines will be lowered from Feb. 1, next year. Each bottle was lowered by a maximum of 140 yen and a minimum of 20 yen. The conversion rate will be 11% to 1%.
Asahi Breweries, a member of Asahi Group, announced that the guided retail price of 40 kinds of European wines will be lowered from March 1 next year, when they leave the factory. Each bottle was lowered by a maximum of 300 yen and a minimum of 30 yen. The conversion rate is 17% to 4%.
At present, Japan imposes import tariffs on European wine up to 94 yen for 750 ml bottles and on European sparkling wine up to 137 yen for 750 mL bottles.
