An announcement by Japan's leading convenience store operator, Seven-Eleven Japan Co., suggests a price war could be brewing in the soft drinks market.

Seven-Eleven said on Friday it was planning to cut prices of some popular soft drinks by 15%, in a bid to win customers back from drug stores and discount retailers.

Among the brands included in the convenience store operator's price-cutting programme will be Coca-Cola and Japanese tea.

Convenience store chains generally keep to suggested retail prices but have been facing tough competition from other retailers such as discounters.