Japan beer giants raided over suspected price-fixing cartel

Regulators search brewery offices

Officials from the Japan Fair Trade Commission searched the premises of Asahi, Sapporo, Kirin, and Suntory Spirits. The four firms confirmed their locations were visited by investigators on Wednesday. Each company stated it would fully cooperate with the ongoing review.

Suspected price coordination

The investigation focuses on alleged secret meetings between sales managers to coordinate retail price increases. Sources indicate executives discussed timing and scale of hikes ranging from several yen to dozens of yen. Authorities suspect the breweries bypassed competition to ensure profits after raw material costs rose.

Market impact concerns

These four companies control more than 90 percent of the domestic beer market in Japan. Wholesalers selling to supermarkets and restaurants may have been affected by the alleged cartel activity. Share prices for three of the listed firms fell after news of the investigation broke.