Asahi Group

Corporate brand

A Japanese food and beverage group best known internationally for Asahi Super Dry beer and a broad portfolio of drinks, alcohol brands, and food products. Asahi Group Holdings is the Japanese listed parent company of the Asahi Group, an international beer, alcoholic-beverage, soft-drink, and food business.

Last updated October 14, 2026

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Overview

Asahi Group, formally Asahi Group Holdings, Ltd., is a Japanese beverage and food group headquartered in Tokyo. Its roots reach back to 1889, when Osaka Beer was established. The company developed from a domestic brewer into one of Japan’s most important beer producers and, through extensive overseas acquisitions, a multinational owner and operator of premium beverage brands. Beer remains the group’s defining business. Asahi Super Dry, introduced in Japan in 1987, became the company’s signature product and helped establish a dry, crisp lager style as a major category in the Japanese market. The brand’s Japanese identity, restrained bitterness and highly carbonated profile have subsequently supported international expansion. Asahi has positioned Super Dry as a premium Japanese lager rather than simply an imported beer, using themes of modern Japan, curiosity, craftsmanship and experiences that exceed expectations. The group’s portfolio extends beyond its flagship lager. Its businesses include alcoholic beverages, non-alcoholic and low-alcohol drinks, soft drinks, mineral water, dairy and other food products. Internationally, the company owns or manages established beer brands acquired through major transactions in Europe and Australia, including Peroni Nastro Azzurro, Pilsner Urquell, Kozel, Grolsch and beer brands associated with Carlton & United Breweries. The exact portfolio varies by market and by licensing or divestment arrangements. Asahi’s international transformation accelerated in the 2000s and 2010s as Japan’s beer market matured and domestic consumption faced structural pressure. The group expanded first through regional beverage and brewing businesses and later through large-scale acquisitions of premium European brands formerly associated with SABMiller and Anheuser-Busch InBev. The 2016–2017 European acquisitions gave Asahi a broader premium beer platform, while the 2020 acquisition of Carlton & United Breweries substantially strengthened its position in Australia. The company operates through a portfolio model combining global brand development with local production, sales and marketing organizations. Its strategy emphasizes premiumization, international scale, innovation, responsible drinking and operational discipline. Alongside conventional beer, Asahi has invested in alcohol-free and reduced-alcohol products to address changing consumption habits and to create additional drinking occasions. Asahi’s corporate statement is “Make the world shine,” while its stated purpose centers on creating taste experiences and enjoyable living culture that exceed expectations. Marketing commonly links its brands with social occasions, sport, modern design and Japanese innovation. Partnerships and campaigns have included global football and rugby properties, digital advertising, influencer activity and market-specific programs for products such as Super Dry 0.0 and Super Dry Nama Jokki. Today, Asahi Group is an active publicly traded corporation with operations spanning Japan, Europe, Australia and other international markets. It should be distinguished from Asahi Super Dry, which is a beer brand, and from individual Asahi breweries or regional subsidiaries. The corporate group is the appropriate subject of this dossier.

History

Asahi Group traces its origins to Osaka Beer, founded in 1889. The early company operated in a Japanese brewing environment that later became increasingly consolidated. A merger involving Nippon Beer in the 1890s expanded the business’s resources and distribution capabilities, and the Asahi name became formally associated with the brewery in the early twentieth century. For much of the twentieth century, Asahi was primarily a domestic Japanese brewer. The company competed in a market dominated by large national producers and developed a portfolio centered on lager beer. Its later growth was driven by a combination of product innovation, manufacturing investment, distribution and brand-building. The decisive turning point came in 1987 with the introduction of Asahi Super Dry. Its sharply crisp, dry profile differentiated it from many established Japanese lagers and helped create a new reference point for beer taste in Japan. Super Dry’s success restored Asahi’s competitive momentum and became the foundation for its later premium international identity. The group broadened its activities beyond beer through beverage and food businesses, while also beginning to develop a more international operating base. As the Japanese market matured and demographic and consumption changes limited the prospects for domestic volume growth, overseas expansion became increasingly important. Asahi acquired or developed businesses in Australia and other markets, including involvement in the Schweppes soft-drink business in Australia during the late 2000s. In 2009, Asahi Group Holdings was established as a holding company structure. The reorganization separated group-level management and strategy from operating businesses and was intended to improve governance, capital allocation and the coordination of a diversified portfolio. The group continued to pursue both domestic innovation and overseas growth. A major international phase began in 2016, when Asahi agreed to acquire several premium beer brands and businesses in Central and Eastern Europe from Anheuser-Busch InBev following the latter’s acquisition of SABMiller. The portfolio included brands such as Pilsner Urquell, Kozel and Tyskie. In a related transaction, Asahi acquired the rights and businesses associated with Peroni Nastro Azzurro and Grolsch. These transactions materially changed Asahi’s profile: it became not only a Japanese brewer selling abroad, but also a multinational owner of well-established local and international beer brands. The next major step was the acquisition of Carlton & United Breweries from Anheuser-Busch InBev. Announced in 2019 and completed in 2020, the transaction gave Asahi a leading position in Australia and added a substantial portfolio of Australian beer brands, including Carlton and Victoria Bitter. The deal was strategically important because it diversified Asahi’s geographic earnings base and reinforced its premium beer ambitions, although its size also increased the importance of balance-sheet management and post-acquisition integration. In the 2020s, Asahi has emphasized premiumization, global brand consistency and growth in alcohol-free and low-alcohol beverages. Super Dry has been marketed internationally through the Beyond Expected platform, which associates the brand with modern Japanese culture and exploration. The company has also supported products such as Super Dry 0.0 and other reduced-alcohol propositions as consumers seek flexibility in when and how they drink. The group continues to combine global brand assets with local market execution. Its current scope includes beer, spirits and other alcoholic drinks, soft beverages and food. Asahi’s corporate communications present the business as a creator of enjoyable living culture, with “Make the world shine” used as its corporate statement. The modern group is therefore the product of three linked transformations: the creation of a distinctive beer franchise through Super Dry, the shift to a holding-company structure, and the acquisition-led construction of an international premium beverage portfolio.

2022
Beyond Expected global campaign launched
[2]Asahi Super Dry launches biggest global marketing campaign in brand’s historyasahibeverages.com
Super Dry's international campaign presented the beer as an expression of progressive, contemporary Japan.
2020
Carlton & United Breweries acquisition completed
[5]Asahi acquisition of AB InBev Australian operationsmergersight.com
The transaction strengthened Asahi's Australian business and expanded its international premium beer portfolio.
2016
European premium beer acquisitions announced
[4]Asahi Group to buy InBev beer brandsfinancierworldwide.com
Asahi agreed to acquire major European beer assets, including brands such as Pilsner Urquell and Peroni Nastro Azzurro.
2011
Holding-company structure formed
[1]Asahi Group Holdings official websiteasahigroup-holdings.com
Asahi Group Holdings was established as the group-level parent, supporting coordination among operating businesses and brands. The group adopted its current holding-company-centered structure, separating group-level management from operating businesses.
2009
Holding-company structure created
[3]Asahi Group brief history referenceportersfiveforce.com
Asahi Group Holdings was established as a pure holding company to coordinate strategy and operating businesses.
1987
Asahi Super Dry introduced
[3]Asahi Group brief history referenceportersfiveforce.com
The launch of Super Dry established a distinctive dry lager proposition, gave Asahi a distinctive crisp-tasting flagship, and became a major turning point in the Japanese beer market and the group's principal growth milestone.
1907
Asahi Brewery name adopted
[3]Asahi Group brief history referenceportersfiveforce.com
The business formally adopted the Asahi Brewery name.
1893
Merger with Nippon Beer
[3]Asahi Group brief history referenceportersfiveforce.com
A merger expanded the brewery's resources and distribution base during its formative period.
1889
Osaka Beer Company established
[1]Asahi Group Holdings official websiteasahigroup-holdings.com
The corporate lineage that became Asahi Group began with the establishment of Osaka Beer in Japan, providing the historical foundation for the group.
1889
Brewing business established
[9]Brewing business establishedasahigroup-holdings.com
The business that forms the historical foundation of Asahi Group Holdings was established in Japan.

Products and positioning

Premium beverage group combining Japanese brewing heritage, crisp lager expertise, international brand ownership, innovation and increasingly diverse alcohol-free and low-alcohol choices. A quality- and innovation-led food and beverage group with a strong Japanese brewing heritage, an internationally recognized flagship lager, and a broad multi-category portfolio. An international beer-centered beverage and food group combining Japanese brewing heritage, globally marketed brands, and regional consumer-product businesses.

Alcohol-free beer · 1987
Asahi Super Dry 0.0%
Asahi’s flagship lager, introduced in 1987 and associated with a crisp, dry and highly refreshing taste profile. Super Dry is the group’s principal international beer brand and is marketed as a premium expression of Japanese brewing and modern Japanese design. It is sold in numerous markets and is supported by global and local campaigns, including Beyond Expected. An alcohol-free extension of the Super Dry proposition intended for consumers who want the brand’s dry-tasting profile without alcohol. Its international marketing emphasizes taste, innovation and additional consumption occasions, reflecting Asahi’s broader interest in low- and no-alcohol beverages. Asahi’s signature lager, introduced in 1987 and associated with a clean, crisp and dry-tasting profile. Its silver visual identity and emphasis on refreshment have made it the group’s most recognizable product internationally. It is sold through retail, hospitality, and food-service channels in Japan and overseas markets. A non-alcoholic extension of the Super Dry proposition designed for consumers who want a beer-like drinking occasion without alcohol. It broadens the flagship brand into moderation, weekday, driving, and other occasions where conventional beer is unsuitable. Asahi's flagship lager, introduced in 1987 and associated with a crisp, dry and highly refreshing taste profile. Its silver visual identity and emphasis on refreshment have made it the group's most recognizable product internationally. Super Dry is the group's principal international beer brand and is marketed as a premium expression of Japanese brewing and modern Japanese design. It is sold in numerous markets through retail, hospitality and food-service channels, and is supported by global and local campaigns, including Beyond Expected. An alcohol-free extension of the Super Dry proposition intended for consumers who want the brand's dry-tasting profile without alcohol. It broadens the flagship brand into moderation, weekday, driving, and other occasions where conventional beer is unsuitable. Its international marketing emphasizes taste, innovation and additional consumption occasions, reflecting Asahi's broader interest in low- and no-alcohol beverages. Asahi Super Dry is the group's best-known beer brand and its most important international consumer-facing offering. It is associated with a crisp, dry taste profile and serves as a prominent expression of Asahi's Japanese brewing identity. The brand has been used as a central platform for the group's overseas marketing and is sold across multiple international markets.
Beer
Peroni Nastro Azzurro
An Italian premium lager acquired as part of Asahi's European brand portfolio expansion. Peroni Nastro Azzurro gives the group an established international brand with a distinctly Italian identity and complements the Japanese positioning of Super Dry within Asahi's premium beer portfolio.
Beer
Pilsner Urquell
A Czech premium lager included in Asahi's European acquisitions. The brand is associated with the pilsner brewing tradition and provides the group with a heritage-led beer proposition distinct from Super Dry's modern Japanese identity.
Beer
Carlton and Victoria Bitter
Major Australian beer brands brought into Asahi's portfolio through the acquisition of Carlton & United Breweries. They give the group strong local-market positions and manufacturing and distribution capabilities in Australia.
Alcoholic beverages
Asahi alcoholic beverage portfolio
The group's alcoholic beverage range extends beyond its core lager business and includes beer-style products, low-malt beverages, spirits, wine, and other offerings managed through relevant operating companies and markets. The portfolio allows Asahi to address different price points, tastes, occasions, and regulatory environments.
Soft drinks
Asahi soft drinks and functional beverages
Asahi's non-alcoholic beverage activities cover soft drinks and functional or health-oriented beverages. These products complement the alcohol business and support participation in everyday hydration, refreshment, and wellness occasions, particularly in the Japanese market.
Packaged food and ingredients
Asahi food products
The group also operates in food-related categories, including packaged foods, supplements, confectionery, yeast, and food ingredients. These businesses extend Asahi beyond beverages and reflect the group’s broader positioning as a food and beverage company. Food is part of the group's diversified consumer-staples scope. Food operations complement the beer and beverage businesses and support the group's stated ambition to contribute to enjoyable living through a broader range of consumer products.
Beer
Asahi beer portfolio
The wider Asahi beer portfolio includes products serving the Japanese market and selected overseas markets. Alongside internationally promoted products, the portfolio reflects the group's long-standing domestic brewing business and its emphasis on beer quality, taste, and everyday consumption occasions.
Beverages
Soft drinks and non-alcoholic beverages
Asahi Group Holdings' broader beverage activities include soft drinks and non-alcoholic products. These businesses extend the group beyond alcohol and allow it to participate in everyday refreshment and consumption occasions across its operating markets.

Controversies

2023
Asahi ends new advertising and promotional use of Johnny's agency talents
Following the agency’s response to allegations of sexual abuse and Asahi’s assessment that victim relief and organizational reform were insufficient, the group said it would stop new advertising and promotional activity involving the agency’s talents. Existing contracts were to run until expiry without renewal. The decision was linked to Asahi’s human-rights policy.
Source
2023
Advertising relationship with Johnny’s agency after abuse allegations
After public allegations concerning sexual abuse by the agency’s former founder and criticism of the agency’s response, Asahi concluded that continued commercial dealings were inconsistent with its human-rights policy. It stopped new advertising and promotional use of affiliated talents and declined contract renewals.
Source
2023
Johnny Kitagawa sexual-abuse scandal and advertising policy
Following findings and public acknowledgment concerning sexual abuse by former Johnny & Associates president Johnny Kitagawa, Asahi Group said it would not use the agency’s talents in new advertising or promotions and would not renew existing contracts after expiry.
Source

2025Q1 2025 social connection and moderation advertising
International
Reported advertising activity during the first quarter of 2025 combined refreshment messaging, social occasions, sports associations, celebrity endorsements and health-conscious or alcohol-free choices across Asahi’s portfolio. Reported advertising activity during the first quarter of 2025 combined refreshment messaging, social occasions, sports associations, celebrity endorsements and health-conscious or alcohol-free choices across Asahi's portfolio. The activity demonstrated a portfolio-based approach designed to address beer drinkers, sports audiences and consumers seeking lower-alcohol options.
Outcome. The activity demonstrated a portfolio-based approach designed to address beer drinkers, sports audiences and consumers seeking lower-alcohol options.
Source
2022Beyond Expected
Australia · International
A large-scale Super Dry campaign portrayed contemporary Japan as creative, energetic and full of unexpected experiences. The campaign used television, video, digital and outdoor media to connect the beer’s crisp taste with exploration and progressive culture. A large-scale Super Dry campaign portrayed contemporary Japan as creative, energetic and full of unexpected experiences. The campaign used television, video, digital and outdoor media to connect the beer's crisp taste with exploration and progressive culture. It was presented as the largest in Super Dry's brand history at launch and supported the brand's international growth ambitions.
Outcome. The campaign was presented as the largest in Super Dry’s brand history at launch and supported the brand’s international growth ambitions.
Source
Beyond Expected alcohol-free campaign
International
A campaign for alcohol-free Super Dry challenged conventional expectations about non-alcoholic beer. Creative work focused on flavor, Japanese innovation and alternative drinking occasions rather than treating alcohol content as the sole product story. The campaign supported Asahi's effort to expand no- and low-alcohol choices as drinking habits diversify.
Outcome. The campaign supported Asahi’s effort to expand no- and low-alcohol choices as drinking habits diversify.
Source

Brand decisions

2019
Agreement to acquire Carlton & United BreweriesM&A
Background
Asahi pursued geographic diversification and a stronger position in the Australian beer market.
Action taken
The group agreed to purchase Anheuser-Busch InBev's Australian brewing business, with completion taking place in 2020.
Aftermath
The deal made Australia a major Asahi market and added leading local beer brands and production capabilities.
Source
2016
Acquisition of European premium beer assetsM&A
Background
Asahi sought international growth and premium brands as Japan's domestic beer market matured.
Action taken
The group acquired European beer businesses and brands including Pilsner Urquell, Kozel and Peroni Nastro Azzurro in transactions completed during the 2016–2017 period.
Aftermath
The acquisitions transformed Asahi into a broader international premium beer owner.
Source
2011
Adoption of a holding-company structureStrategy
Background
Asahi had developed a portfolio spanning brewing, beverages, food, and international operations, creating a need for group-level coordination.
Action taken
Asahi Group Holdings was established as the corporate holding company overseeing the group's operating businesses.
Aftermath
The structure provided a framework for portfolio management, international growth, and coordination across business categories.
Source
2009
Creation of Asahi Group HoldingsStrategy
Background
The expanding company required a structure capable of managing multiple operating businesses and international activities.
Action taken
Asahi reorganized into a holding-company structure, separating group strategy from operating-company management.
Aftermath
The structure provided a platform for portfolio management and later acquisition-led international expansion.
Source
1987
Launch of Asahi Super DryProduct launch
Background
Asahi needed a product capable of differentiating it in a competitive and mature Japanese beer market.
Action taken
The company introduced a lager centered on a crisp, dry taste profile that became the foundation of its modern brand identity.
Aftermath
Super Dry became a defining product for Asahi, helped reshape consumer expectations in Japan, and later supported international brand expansion.
Source

Recent events

2025
Asahi advertising highlighted refreshment, connection and moderation choices[7]GlobalData analysis of Asahi advertising campaignsglobaldata.com
Campaign · Other
Reported first-quarter advertising activity featured Super Dry, alcohol-free products and newer beverage propositions, using sports partnerships, celebrity endorsements and social-oriented creative to address varied consumer occasions.
2025
Asahi considers an African brewing expansion through the Tusker business[12]Asahi considers an African brewing expansion through the Tusker businessnikkei.com
M&A
Reporting described Asahi’s announced plan to acquire a business associated with the Tusker beer brand, presenting a potential expansion into Africa and drawing a cautious market response.
2025
Asahi announces planned acquisition of Diageo’s East African beverage interests[13]Asahi announces planned acquisition of Diageo’s East African beverage interestsjapanir.jp
M&A
Asahi announced an agreement involving Diageo Kenya, UDV Kenya and an indirect interest in East African Breweries, extending its beer, spirits and ready-to-drink presence in East Africa. Completion was described as expected in the second half of 2026.
2022
Asahi Super Dry launched its largest global brand campaign in Australia[2]Asahi Super Dry launches biggest global marketing campaign in brand’s historyasahibeverages.com
Campaign · Product launch
The Beyond Expected campaign presented Super Dry as an expression of contemporary Japan and encouraged consumers to explore unfamiliar ideas and experiences. It used television, video-on-demand, digital and outdoor media in Australia.
2020
Asahi completes acquisition of Carlton & United Breweries[9]Brewing business establishedasahigroup-holdings.com
M&A
Asahi completed the purchase of the Australian brewing business and related assets from Anheuser-Busch InBev, substantially expanding its Oceania platform and international beer portfolio.
2020
Asahi announces equity financing after Australian beer acquisition[14]Asahi announces equity financing after Australian beer acquisitionnikkei.com
Other
The group announced a public offering and treasury-share sale to raise funds, strengthen its balance sheet and reduce borrowings following the CUB acquisition.
Asahi promoted alcohol-free Super Dry through the Beyond Expected platform[6]Beyond Expected alcohol-free beer campaignmarketing-interactive.com
Campaign · Product launch
Asahi and agency Trouble Maker developed an international campaign for an alcohol-free version of Super Dry. The work emphasized taste, Japanese innovation and new drinking occasions rather than relying primarily on alcohol-by-volume messaging.
Asahi Group presents itself as a global food and beverage company[1]Asahi Group Holdings official websiteasahigroup-holdings.com
Other
The company’s official corporate description emphasizes alcoholic beverages, soft drinks, and food products distributed through a global brand portfolio. Its stated corporate purpose centers on exceeding expectations for taste and creating enjoyable living culture.
Asahi Super Dry remains the group’s signature international beer brand[1]Asahi Group Holdings official websiteasahigroup-holdings.com
Product generation
Asahi Super Dry is the group’s most internationally recognizable offering and anchors the Asahi identity in beer markets outside Japan as well as at home.

Sources14 sources

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