Japan's FTC inspects six ice cream makers over suspected price fixing
The Fair Trade Commission conducted on-site inspections at six companies on Tuesday. The firms are suspected of coordinating suggested retail price increases for ice cream and other products.
Japan TimesThe Fair Trade Commission conducted on-site inspections Tuesday at six ice cream makers suspected of forming a price-fixing cartel. The companies are Meiji, Morinaga Milk Industry, Lotte, Morinaga & Co., Ezaki Glico and Akagi Nyugyo. Officials seized materials and plan to interview individuals as part of the antimonopoly law investigation.
Background on the suspected conduct According to informed sources, executives at the companies exchanged information several years ago and raised suggested retail prices in increments of ¥10. The price adjustments were not tied to higher ingredient costs.
The higher suggested retail prices may have affected wholesale prices and raised costs for consumers. The commission will continue reviewing the seized materials to determine whether the companies violated the antimonopoly law.
