it's a grey area.
the possession of fictional media realistically depicting sexual abuse of children (i.e. a person below 14 years of age) is not allowed.
the question is, if lolicon is realistic or if the fictional characters really are children (1500 years old lolis, etc. ..).
the main reason for this law is to keep people in possession of real cp from defending themselves with crap like "lol, i thought it was fictional - really, i didn't know it was real.", or "no, those are all drawings, no real children involved, lol", ..