Summer is “a boom time for ice cream makers”, said Agence France-Presse. But in Japan some of the country’s biggest firms are feeling the heat.
Officials from the Japan Fair Trade Commission (JFTC) have raided six companies on suspicion of colluding to hike prices in a cartel. Staff are believed to have “sent emails or met up for years to co-ordinate the timing and size” of the increases, said an anonymous source, violating anti-monopoly laws.
The anti-trust watchdog searched the head offices of Meiji, Morinaga Milk Industry, Lotte, Ezaki Glico, Morinaga & Co and Akagi Nyugyo, company officials have confirmed. Sources say the six firms are “suspected of raising the suggested retail prices of ice cream” in increments of 10 yen, according to The Japan Times. The aim seems to be “securing profits for each company”.
The case “threatens to undermine the reputations” of some of Japan’s largest food companies, said The New York Times. The ice cream industry has “boomed in recent years”. Last year it was valued at more than $4 billion, up 3% from 2024.
But rising prices have “stoked public anger” in the nation, which is battling inflation for “the first time in decades”, fuelled by higher energy costs from the war in the Middle East.
The JFTC will analyse seized materials and interview individuals to investigate the suspected violation of anti-monopoly laws. But if the commission “concludes that there was a cartel”, said AFP, the anti-trust watchdog will “order the firms to improve their business practices and pay a fine”.
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