Japan Beer Giants Raided Over Alleged Price-Fixing Cartel
Japanese officials have raided the country's biggest beer makers over allegations they worked together to raise the price of their beverages.
Asahi, Sapporo, Kirin and Suntory Spirits Confirmed Raids
Asahi, Sapporo, Kirin, and Suntory Spirits have all confirmed to the BBC that their premises were searched by the Japan Fair Trade Commission (JFTC), stating they would fully cooperate with the regulator.
These four firms dominate Japan's beer market, with their drinks widely available in supermarkets and convenience stores nationwide. Asahi, Kirin, and Sapporo experienced a decline in share price following news of the investigation, which began on Wednesday.
"I do not deny that an investigation is underway today, but I'd like to refrain from commenting on the details as a preliminary review is underway," said JFTC Secretary General Iwanari Hiroo, according to local media reports.
Investigation Centers on Price Increases
The investigation focuses on the companies' price hikes in April 2021 and October 2022, with all four firms citing rising raw material costs and other factors like energy and transportation expenses.
Kirin Holdings, through its subsidiary Kirin Brewery Company, faced a search "on suspicion of a violation of the Antimonopoly Act." The company expressed grave taking of the matter, pledging full cooperation with the JFTC's investigation.
Suntory, another raided firm, confirmed an on-site inspection related to potential violations of Japan's Antimonopoly Act concerning domestic alcohol trade practices. They apologized for any inconvenience caused and promised full cooperation.
Asahi also confirmed it was under investigation by the JFTC, stating its commitment to cooperating fully with the regulator. This follows a similar investigation in June targeting some of Japan's biggest ice cream makers, including Meiji and Ezaki Glico's Pocky brand.