Japan: Cartel authorities investigate ice cream makers for suspected price collusion

Japan's Fair Trade Commission (JFTC) has launched an investigation into six major ice cream manufacturers over suspicions of price-fixing. The companies' offices were searched on Tuesday as part of the probe.

Authorities suspect that representatives from these companies colluded over several years, using emails and meetings to coordinate the timing and scale of price hikes. Local media reports indicate that the companies have been increasing their retail prices annually around the same time, particularly since 2022.

Officials from the JFTC reportedly searched the headquarters of Meiji, Morinaga Milk Industry, Lotte, Ezaki Glico, Morinaga & Co., and Akagi Nyugyo. The investigation is also looking into whether these firms exploited the current inflationary environment. There is a suspicion that they may have raised prices more than justified by the increase in raw material costs.

Five of the implicated companies issued statements on Tuesday and Wednesday, confirming that their offices had been searched. They all stated their intention to "cooperate" with the ongoing investigations. Akagi Nyugo's corporate communications also confirmed that the company would work with investigators following a "on-site inspection."

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