- Japan's Fair Trade Commission (JFTC) has launched raids and inspections at six major ice cream manufacturers, including Meiji, Morinaga Milk Industry, and Lotte.
- The companies are accused of violating anti-monopoly law by allegedly colluding to fix and raise the retail prices of their ice cream and frozen desserts.
- It is alleged that since 2022, these firms have repeatedly increased prices by 5-10 per cent, potentially beyond what was justified by rising raw material costs.
- The JFTC suspects senior executives exchanged information through emails and in-person meetings to form a discreet cartel, agreeing on the timing and scale of price hikes.
- The implicated companies have confirmed the raids and pledged to cooperate with the investigation, which could result in substantial fines and mandated changes to their business practices.
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