Investigation into Japanese Ice Cream Companies Over Suspected Price-Fixing Cartel

Japan's Fair Trade Commission (JFTC) has launched an investigation into six leading ice cream manufacturers suspected of operating as a cartel and fixing prices. The companies, identified as Meiji, Morinaga Milk Industry, Lotte, Ezaki Glico, Morinaga & Co., and Akagi Nyugyo, had their headquarters searched on Tuesday. This action comes as the summer season, a peak period for ice cream sales, approaches.

Sources close to the investigation revealed that these firms are suspected of coordinating price increases. Evidence suggests that company officials may have exchanged emails and held meetings over several years to synchronize the timing and scale of these hikes. Local media reports indicate that retail prices for ice cream have risen annually around the same period since approximately 2022.

The JFTC is also examining whether these companies used the recent inflationary environment as a pretext to increase prices beyond what could be justified by rising raw material costs. This aspect of the investigation aims to determine if the firms unfairly profited from the economic climate.

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suspected of having colluded to raise their prices

Five of the implicated companies issued statements confirming the JFTC's on-site inspections and affirming their cooperation with the investigation. Akagi Nyugyo also confirmed its collaboration following the inspection. If the JFTC finds evidence of a cartel, the companies could face significant fines and be ordered to reform their business practices.

Despite the investigation, the ice cream market in Japan has shown resilience. According to the Japan Ice Cream Association, sales reached a record high of over 660 billion yen (approximately 3.55 billion euros) in the fiscal year ending March. This surge occurred during 2025, which saw the hottest summer recorded in Japan since data collection began in 1989.

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on-site inspection