Article #53916

Six companies are suspected of colluding to use food inflation to raise the prices of their product

Authorities in Japan have raided six of the country’s largest ice-cream firms for allegedly colluding to raise the price of their products, provoking anger from frozen snack aficionados as they face a cruel summer ahead.

Officials from the Japan Fair Trade Commission (JFTC) on Tuesday carried out searches of the corporate headquarters of Akagi Nyugyo, Ezaki Glico, Lotte, Meiji, Morinaga Milk Industry and Morinaga & Co due to suspicions they had violated antimonopoly laws.