Potential Japan Consumption Tax Break Would Lift F&B Demand -- Market Talk

Dow Jones01-19

0807 GMT - Nissin and Yakult would benefit the most from a potential suspension of consumption tax on food-and-beverage products in Japan, as they have notable earnings exposure to products that would be likely to qualify, Bernstein analysts say in a note. The Japanese government is considering a plan to offer a two-year consumption tax holiday on F&B products to help ease cost-of-living pressures, according to local media reports citing unnamed sources. Toyo Suisan, Ajinomoto and Kikkoman would benefit on a smaller scale, while Asahi and Kirin could benefit through their domestic nonalcohol divisions. Bernstein expects brand owners to hold off on price increases in the first year of a tax holiday, though the second year may offer greater scope for price hikes. (jason.chau@wsj.com)

(END) Dow Jones Newswires

January 19, 2026 03:07 ET (08:07 GMT)

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Toyo Suisan, Ajinomoto and Kikkoman would benefit on a smaller scale, while Asahi and Kirin could benefit through their domestic nonalcohol divisions. Bernstein expects brand owners to hold off on price increases in the first year of a tax holiday, though the second year may offer greater scope for price hikes. 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The Japanese government is considering a plan to offer a two-year consumption tax holiday on F&amp;B products to help ease cost-of-living pressures, according to local media reports citing unnamed sources. Toyo Suisan, Ajinomoto and Kikkoman would benefit on a smaller scale, while Asahi and Kirin could benefit through their domestic nonalcohol divisions. Bernstein expects brand owners to hold off on price increases in the first year of a tax holiday, though the second year may offer greater scope for price hikes. 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