Japan beer giants raided over alleged price-fixing cartel

Japanese officials have raided the country's biggest beer makers over allegations they worked together to raise the price of their beverages.Asahi and Kirin confirmed to the BBC their premises had been searched by the Japan-fair-trade-commission" class="entity-link entity-organization" data-entity-id="147938" data-entity-type="organization">Japan Fair Trade Commission, adding that they would fully cooperate with the government authority.There are reports Sapporo Breweries and Suntory-spirits" class="entity-link entity-organization" data-entity-id="214635" data-entity-type="organization">Suntory Spirits were also raided. Both firms have been contacted for comment.Asahi, Kirin and Sapporo all saw their share price fall after news of the investigation broke on Wednesday. Suntory is not publicly-listed.According to Japan-times" class="entity-link entity-organization" data-entity-id="152496" data-entity-type="organization">The Japan Times, the investigation centres on the companies raising their prices in April last year and in October 2022.All four companies announced increases, citing the rising cost of raw materials as well as other factors such as energy and transportation. Kirin-holdings" class="entity-link entity-organization" data-entity-id="214636" data-entity-type="organization">Kirin Holdings said its subsidiary, Kirin-brewery-company" class="entity-link entity-organization" data-entity-id="214637" data-entity-type="organization">Kirin Brewery Company, was searched "on suspicion of a violation of the Antimonopoly Act". It said it takes the matter "very seriously", adding it would "fully cooperate with the Japan-fair-trade-commission" class="entity-link entity-organization" data-entity-id="147938" data-entity-type="organization">Japan Fair Trade Commission's investigation and any requests for cooperation".