Japan beer giants raided over alleged price-fixing cartel

What happened: Japan's Fair Trade Commission raided Asahi, Sapporo, Kirin and Suntory Spirits over alleged price-fixing to raise beverage prices. All four confirmed the searches and said they will cooperate. Key numbers: Investigation centres on price rises in April last year and October 2022, per the Japan Times. Why it matters: Asahi, Kirin and Sapporo share prices fell after the news. Kirin said the impact on its financial results is not yet determined.

Japan's Fair Trade Commission raided Asahi, Sapporo, Kirin and Suntory Spirits over alleged price-fixing to raise beverage prices. All four confirmed the searches and said they will cooperate.

Asahi, Kirin and Sapporo share prices fell after the news. Kirin said the impact on its financial results is not yet determined.