Japan raids ice cream giants over alleged price-fixing as heatwave fuels demand

Japan's competition watchdog has raided some of the country's biggest ice cream makers, accusing them of forming a cartel to inflate prices — just as the nation swelters through record summer temperatures. Investigators from the Japan Fair Trade Commission (JFTC) conducted "on-site inspections" at six firms on Tuesday, including Meiji, Pocky maker Ezaki Glico, Morinaga Milk Industry, Lotte, Morinaga and Akagi Nyugyo. The companies are suspected of fixing the wholesale prices of frozen desserts, raising them by 5-10% "several times over the years", according to Japanese broadcaster NHK citing anonymous sources, beyond what was justified by rising raw material costs. The probe comes as Japan faces extreme heat: earlier this year, the government introduced a new term — kokushobi, or "cruelly hot" day — for temperatures reaching 40C (104F), after the country endured its hottest summer on record in 2025. The JFTC declined to release a statement on the investigation, but three of the raided companies have pledged to cooperate. Meiji, known for Hello Panda snacks, said in a statement: "We take this inspection very seriously and will cooperate fully with the Fair Trade Commission's investigation." Glico added: "We will respond in good faith to the Fair Trade Commission's investigation and cooperate fully." Morinaga Milk also confirmed it would cooperate. The frozen dessert giants distribute their products wholesale to supermarkets and convenience stores across Japan. The BBC has contacted the companies for comment.