Japan Competition Watchdog Raids Six Ice Cream Makers Over Alleged Price-Fixing Cartel
Japan's competition watchdog has launched an investigation into several of the nation's leading ice cream manufacturers following allegations of a price-fixing cartel. The Japan Fair Trade Commission (JFTC) carried out on-site inspections at six companies on Tuesday, suspecting they manipulated the prices of frozen desserts.
Among the firms raided were Meiji, known for its Hello Panda snacks, and Ezaki Glico, producer of Pocky. Other companies subjected to inspection included Morinaga Milk Industry, Lotte, Morinaga, and Akagi Nyugyo.
The JFTC has refrained from issuing a public statement regarding the ongoing investigation. However, media reports, citing anonymous sources, suggest the companies improperly increased prices of popular desserts “several times by 5-10% over the years.” This comes as Japan faces a summer marked by record high temperatures.
Statements from Meiji, Glico, and Morinaga Milk confirmed their cooperation with the authorities. Meiji stated it was subject to an inspection “on suspicion of violating the Antimonopoly Act in connection with the setting of sales prices for ice cream and other products,” adding they “take this inspection very seriously and will cooperate fully.”
The raids indicate a robust enforcement action against alleged anti-competitive practices, particularly concerning consumer staples during periods of high demand.
