Japan's Fair Trade Commission raids four beer giants over suspected price cartel

Japan’s Fair Trade Commission raided the country’s four major beer makers on Wednesday (7 October) on suspicion of cartelisation in sales of beer and other products to wholesalers, Reuters reported in a 03:30 UTC dispatch.

The companies — Kirin Holdings (2503.T), Asahi Group Holdings (2502.T), Sapporo Holdings (2501.T) and Suntory Holdings — each confirmed the raids and said they intend to cooperate with the regulator, according to the Reuters report.

The brewers are suspected of coordinating prices over several years, public broadcaster NHK reported. The Fair Trade Commission is expected to continue its investigation and could file a criminal complaint, NHK said.

Investors reacted swiftly. Kirin shed 2.31 per cent to its lowest level in more than three months by the end of the morning session, Sapporo lost 1.97 per cent and Asahi fell 1.54 per cent, Reuters reported.

No charges have been announced. The investigation is continuing, and the companies say they will cooperate.