Japan Investigates Ice Cream Cartel Ahead of Hot Summer

5 sourcesFirst reported 1 month agoUpdated 1 month ago

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Authorities raided six major ice cream companies in Japan over cartel allegations.
The firms are suspected of colluding to artificially raise product prices during a time of inflation.
This investigation marks the first known inquiry into possible price-fixing in Japan's ice cream market.
The Fair Trade Commission is leading the investigation amidst rising consumer frustration.
The Japanese ice cream market reached a historic high of 663 billion yen in the last financial year.

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