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, Kirin and Suntory Spirits confirmed to the BBC their premises had been searched by the Japan Fair Trade Commission, adding that they would fully cooperate with the government authority. There are reports Sapporo [...] The post Japan beer giants…
Japanese authorities have raided the headquarters of the country's largest beer producers - Asahi, Kirin, Suntory and Sapporo Breweries - over allegations they conspired to raise prices on their beverages. The Japan Fair Trade Commission confirmed the searches, stating the companies would cooperate fully with the investigation. The raids come after news that the firms increased prices in April 2021 and October 2022, citing rising costs of raw materials and other factors.
Suntory, which is not publicly listed, is not publicly listed. Kirin Holdings stated its subsidiary, Kirin Brewery Company, was searched "on suspicion of a violation of the Antimonopoly Act". The company said it takes the matter "very seriously" and will cooperate fully with the JFTC's probe. Suntory confirmed an on-site inspection was carried out in connection with potential Antimonopoly Act violations relating to alcohol trade practices.
It apologized for any concern caused and pledged full cooperation. Asahi Breweries said it is subject to investigation by the Japan Fair Trade Commission and also vowed full cooperation. The Japan Fair Trade Commission has been asked to comment on the allegations.
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