Japan's Major Beer Producers Raided Over Price-Fixing Allegations

Japanese officials have conducted raids on the country's largest beer manufacturers, including Asahi and Kirin, over allegations of collusion to raise beverage prices. Both companies confirmed to the BBC that their facilities were searched by the Japan Fair Trade Commission and stated they would fully cooperate with the investigation. Reports indicate that Sapporo Breweries and Suntory Spirits were also subjected to raids, and both firms have been approached for comments. Following the announcement of the investigation on Wednesday, share prices for Asahi, Kirin, and Sapporo declined, while Suntory is not publicly listed. According to the Japan Times, the investigation focuses on price increases implemented by these companies in April 2022 and October 2022. All four companies cited rising costs of raw materials, energy, and transportation as reasons for their price hikes. Kirin Holdings reported that its subsidiary, Kirin Brewery Company, was searched due to suspicions of violating the Antimonopoly Act. The company expressed its seriousness regarding the matter and committed to cooperating with the Japan Fair Trade Commission. Kirin Holdings noted that the financial impact of the investigation has yet to be determined and promised to disclose any significant developments. Asahi Breweries also stated it is under investigation for a suspected violation of the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade, affirming its commitment to cooperate with the commission. The Japan Fair Trade Commission has been contacted for further comment.