Major Japanese beer companies raided over accusations of cartelisation

Major Japanese beer companies raided over accusations of cartelisation TOKYO, Oct 7 : Japan's Fair Trade Commission raided the country's four major beer makers on Wednesday on suspicion of cartelisation in sales of beer and other products to wholesalers, the companies said. • The companies are Kirin Holdings Co, Asahi Group Holdings, Sapporo Holdings and Suntory Holdings. All four companies separately confirmed the raids and said they intend to cooperate with the investigation. • The companies are suspected of coordinating prices over several years, public broadcaster NHK said. • The Fair Trade Commission is expected to continue its investigation and could file a criminal complaint, NHK added. • Shares fell on the news, with Kirin shedding 2.31 per cent to its lowest level in more than three months by the end of the morning session, while Sapporo lost 1.97 per cent and Asahi fell 1.54 per cent. [Image text:] te RO 00 LURIE SUGAR ERD TERD 51-30 00 UPER DR 330md 382478 00 340m 4,500 R JJAPPNES SUPER DR 48a ell 340m 4,500 340 4,500 2,1