Japan's antitrust regulator raids four major beer makers over suspected price-fixing cartel

On Wednesday, October 7, 2026, Japan's Fair Trade Commission raided the country's four major beer makers—Kirin, Asahi, Sapporo, and Suntory—on suspicion of cartelization in sales to wholesalers. The companies, which control over 90% of Japan's domestic beer market, are suspected of coordinating price increases over several years. The raids caused their shares to fall by up to 3.73%. The commission is expected to continue its investigation and could file a criminal complaint. The companies confirmed the raids and said they would cooperate.