28.11.2022, Japan
Product prices are ready to increase 23% of large companies in Japan, while 49% did not come to a final decision. Kyodo News published such results of the poll held by the newspaper on November 26.
The increase is due to the weakening of the Yen, which in the conditions of fully imported energy and a large share of raw materials led to higher costs for the production of goods. In Tokyo, for example, consumer prices in November rose by 3.6 percent compared to a year earlier, the steepest increase since 1982.
When asked to what extent they could cover the costs associated with higher prices, most companies responded that they were able to cover less than 70% of the costs.
However, 13% of the companies surveyed have not yet raised prices this year, 29% have raised them once, and 14% have raised them twice.
According to the survey, 6% of companies will raise salaries to employees due to price increases, 18% will consider such increases and 3% said they would not do so.
It should be noted that the only surveyed company, which does not plan to raise prices, was Torikizoku Holdings Co., operator of “izakaya” Japanese-style pub chain.
The survey was conducted from November 7 to 21 among 107 major Japanese companies such as Toyota Motor Corp., Nintendo Co. and Shiseido Co. However, 15% of respondents did not answer the questions.
Source: Rossa Primavera News Agency
