Major Japanese beer companies raided over accusations of cartelisation
Major Japanese beer companies raided over accusations of cartelisation TOKYO, Oct 7 (Reuters) - 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 2503.T, Asahi Group Holdings 2502.T, Sapporo Holdings 2501.T 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% to its lowest level in more than three months by the end of the morning session, while Sapporo lost 1.97% and Asahi fell 1.54%.
(Reporting by Kentaro Okasaka; Editing by Muralikumar Anantharaman)
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Major Japanese beer companies raided over accusations of cartelisation