Shares in Japanese beer maker Asahi Group (ASBRF) have been nursing a headache this week after a cyber attack threatened to decimate production of popular tipple Asahi Super Dry.
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Factory Closures
According to an article in the Financial Times, most of the group’s 30 factories in Japan have not operated since Monday after the cyber attack disabled its ordering and delivery system. Asahi has not been able to confirm when its production will return to normal.
Its shares have been battered as a result, dropping 8% on October 1st and now down 5% over the last 6 months – see below:
The FT said that shelves in retailers were emptying and that the country was just days away from running out of its most popular beer.
Japanese Risk
One retail executive warned: “I think we will run out of products soon. When it comes to Super Dry, I think we’ll run out in two or three days at supermarkets.”
Asahi declined to comment on any potential shortages. It is understood to produce the equivalent of 6.7 million large bottles of beer per day on average in the country.
Asahi said it is still investigating whether it was a ransomware attack and that it had postponed the launch of eight new products including fruit soda and protein bars.
The incident underscores the importance of robust cybersecurity measures and may impact the company’s relationships with business partners and stakeholders.
According to Japanese cyber experts, companies in the country are increasingly seen as attractive targets for cyber attackers because of their poor defenses and the willingness of firms to cough up cash in ransomware attacks.
Nippon Ceramic recently reported a data breach affecting 2,850 people and 900 companies. Back in June Sompo Japan Insurance Inc., a subsidiary of Sompo Holdings, reported an unauthorized access to its system, potentially affecting customer data.
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