Major Japanese beer companies raided over accusations of cartelisation
Asahi’s new super dry draft canned beers are seen at a convenience store in Seoul, South Korea, May 12, 2023. REUTERS/Minwoo Park
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
TOKYO, Oct 7 : Japan’s Fair Trade Commission raided the country’s four major beer makers on Wednesday on suspicion of cartelisation in sales of beer and other products to wholesalers, the companies said.
• The companies are Kirin Holdings Co, Asahi Group Holdings, Sapporo Holdings and Suntory Holdings. All four companies separately confirmed the raids and said they intend to cooperate with the investigation.
• The companies are suspected of coordinating prices over several years, public broadcaster NHK said.
• The Fair Trade Commission is expected to continue its investigation and could file a criminal complaint, NHK added.
• Shares fell on the news, with Kirin shedding 2.31 per cent to its lowest level in more than three months by the end of the morning session, while Sapporo lost 1.97 per cent and Asahi fell 1.54 per cent.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
