Japan’s competition watchdog raided several of the country’s largest ice cream makers amid allegations of price-fixing. The firms, including Meiji and Ezaki Glico, said this week that they were subjected to an on-site inspection by the Japan Fair Trade Commission (JFTC) over suspicions they fixed prices on frozen desserts. The JFTC has not released a formal statement about the investigation.
The companies are suspected of inflating ice cream prices beyond what would be expected from raw material costs, at a time when Japan is dealing with a hot summer and record temperatures. NHK, citing anonymous sources, said that the brands had raised prices for popular desserts several times by 5-10% over the years. The six raided firms include Meiji, Morinaga Milk Industry, Lotte, Morinaga, Ezaki Glico and Akagi Nyugyo, which distribute their products wholesale to supermarkets and convenience stores across Japan.
Morinaga Milk Industry, Glico and Meiji said they would cooperate with the authorities’ inquiry in separate statements. Meiji said: “As reported by some media outlets today, our company has been subject to an on-site inspection by the Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with the setting of sales prices for ice cream and other products. We take this inspection very seriously and will cooperate fully with the Fair Trade Commission’s investigation.” Glico added: “We will respond in good faith to the Fair Trade Commission’s investigation and cooperate fully.”
The JFTC has not issued further comments on the probe. The episode comes against a backdrop of Japan naming extremely hot days, with forecasts for continued heat amid El Niño conditions, as the country navigates a hot summer after last year’s record heat.
The raid highlights ongoing scrutiny of competition and pricing in consumer goods, as regulators monitor potential restraints on trade in popular food items.
