Six major ice cream giants in Japan are facing the heat from an antitrust watchdog for allegedly forming a price-fixing cartel to raise the cost of their products during the summer.
Japan’s Fair Trade Commission (JFTC) on Tuesday launched raids and inspections at the head offices of leading ice-cream makers Meiji, Morinaga Milk Industry, Lotte, Morinaga, Ezaki Glico and Akagi Nyugyo accusing them of violating the anti-monopoly law.
