Headline: UNCAPTIONED: Japan Raids Major Beer Makers Over Alleged Price-Fixing Cartel
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Japan Raids Major Beer Makers Over Alleged Price-Fixing Cartel. Japanese regulators raided four major beer producers over allegations they coordinated price increases across the market. Asahi, Sapporo, Kirin and Suntory confirmed searches by the Japan Fair Trade Commission on Wednesday morning. The investigation reportedly focuses on price increases announced in October 2022 and again last April nationwide. All four companies previously blamed higher raw material, energy and transportation costs for raising prices nationwide. Kirin said its brewery subsidiary was searched on suspicion of violating Japan's Antimonopoly Act during trading. Suntory confirmed an inspection related to possible antitrust violations involving domestic alcohol trade practices in Japan. Asahi also acknowledged the investigation, while all four companies pledged full cooperation with regulators during proceedings. Shares in Asahi, Kirin and Sapporo fell after news of the investigation became public on Wednesday.
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Keywords: Current Affairs & Politics,Japan,beer makers,price-fixing cartel,Asahi,Sapporo,Kirin,Suntory,Japan Fair Trade Commission,price increases,Antimonopoly Act,antitrust violations,raw material costs,brewery investigation,Japanese beer market
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