Japan raids ice cream giants over price-fixing allegations

2 days agoShareSaveAdd as preferred on Google Osmond ChiaBusiness reporter AFP via The investigation on alleged cartel pricing of ice cream comes as Japan faces record summer temperatures. Japan's competition watchdog has raided some of the country's biggest ice cream makers for allegedly forming a cartel to raise the price of their products. Some of the firms, including Meiji and Pocky maker Ezaki Glico, said this week that they have been subject to an "on-site inspection" (JFTC) over suspicions that they fixed the prices of frozen desserts. The JFTC said it is not releasing a statement regarding the investigation. The companies are suspected of inflating ice cream prices beyond increases in the cost of raw materials, even as the country faces a hot summer with record high temperatures. The six firms that were raided on Tuesday were Meiji, Morinaga Milk Industry, Lotte, Morinaga, Ezaki Glico and Akagi Nyugyo. The BBC has contacted the companies for comment. The firms improperly raised prices of popular desserts "several times by 5-10% over the years", according to Japanese broadcaster NHK, citing anonymous sources. The brands distribute their products wholesale to supermarkets and convenience stores across Japan. Morinaga Milk, Glico and Meiji said in separate statements that they would co-operate with the authorities' investigation. "As reported , our company has been subject to an on-site inspection ," Meiji said. "We take this inspection very seriously and will cooperate fully with the Fair Trade Commission's investigation," the Hello Panda snack maker wrote. Glico said: "We will respond in good faith to the Fair Trade Commission's investigation and cooperate fully." Earlier this year, Japan unveiled a new name for days that reach 40C (104F) or above, after the country experienced its hottest summer on record in 2025. The term - kokushobi - has been translated as "cruelly hot", "brutally hot" or "severely hot" day .