Japan beer giants raided over suspicions they colluded to set the price of beverages
Summary
Japanese officials searched the offices of the country’s four largest breweries because they suspect the companies worked together to set prices for beer and other drinks. The breweries control over 90% of Japan’s market and may have broken laws that stop businesses from unfairly controlling prices.Key Facts
- Authorities raided Asahi Breweries, Kirin Brewery, Suntory Beer, and Sapporo Breweries.
- These four breweries control more than 90% of Japan’s beer and beverage market.
- The Fair Trade Commission suspects the companies agreed secretly on price increases.
- Prices for beer and similar drinks have gone up several times, most recently in April 2023.
- The investigation is about a possible violation of Japan’s anti-monopoly law.
- The breweries said they will cooperate with the investigation.
- The case is seen as serious because it affects many consumers across Japan.
- Shares of the four companies fell after the raids were announced.
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