Understand
Japan beer giants raided over alleged price-fixing cartel
Overview
Japanese authorities have raided the country's major beer makers, including Asahi and Kirin, over allegations of forming a price-fixing cartel. The Japan Fair Trade Commission is investigating suspected violations of the Antimonopoly Act following coordinated price increases by the companies in October 2022 and April of the previous year.
Key points
- Japanese officials raided major beer makers Asahi and Kirin, with reports indicating Sapporo Breweries and Suntory Spirits were also targeted.
- The Japan Fair Trade Commission is investigating suspected violations of the Antimonopoly Act regarding price-fixing.
- The investigation focuses on price increases implemented by the companies in October 2022 and April of last year.
- Asahi, Kirin, and Sapporo all experienced drops in their share prices following the news of the investigation.
- Both Asahi and Kirin confirmed the raids and stated they are fully cooperating with the authorities.