Japan Fair Trade Commission Probes Six Major Ice Cream Makers Over Price-Fixing Suspicions
Six Japanese confectionery and dairy companies--Morinaga Milk (TYO:2264), Morinaga & Co.(TYO:2201), Akagi Nyugyo, Lotte, Ezaki Glico (TYO:2206), and Meiji (TYO:2269)--are being investigated by the Japan Fair Trade Commission (JFTC) on suspicion of violating the Antimonopoly Act.All six companies confirmed the on-site inspections and pledged full cooperation with authorities, according to statements on their websites on Thursday.The inspections, which took place on June 16, centered on suspected coordination over the determination of prices for ice cream and frozen dessert products.Akagi Nyugyo, Lotte, Glico, and Meiji each specifically acknowledged the price-fixing suspicions in their statements, while Morinaga Milk and Morinaga & Co. confirmed the inspections without detailing the nature of the alleged violations.All six companies said they are taking the inspections seriously and will cooperate fully with the JFTC's investigation.Lotte, in a response to MT Newswire's email, confirmed that an on-site inspection took place and that it will fully cooperate with the investigation.The Japan Fair Trade Commission has not replied to MT Newswire's query at press time.
