Japan beer giants raided over alleged price-fixing cartel
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Japan's Fair Trade Commission has raided the country's biggest beer makers over allegations they coordinated price rises. Asahi and Kirin confirmed their premises were searched on suspicion of violating the Antimonopoly Act, and both said they would fully cooperate. Reports indicate Sapporo Breweries and Suntory Spirits were also raided. The investigation reportedly centres on price increases announced by all four firms in October 2022 and April last year, which the companies attributed to rising raw material, energy and transportation costs. Asahi, Kirin and Sapporo shares fell after the probe became public on Wednesday.
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