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Almost a quarter of Japanese producers plan to lift prices – Kyodo

Among them are Toyota, Nintendo and cosmetics giant Shiseido

TOKYO, November 27. /TASS/. Almost a quarter of Japanese manufacturers plan to increase prices for their products next year due to growing production costs, Kyodo news agency said on Sunday.

According to a poll by the news agency, at least 23% of major Japanese manufacturers, including Toyota, Nintendo and Shiseido, have plans to raise prices for their products next year. At the same time, 49% of polled companies noted that they have not yet made a decision in this regard. An increase in production costs was indicated by companies as one of main drivers for the need to put up prices.

Thirty percent of respondents said they have not decided whether salaries of their employees are increased in the next year. Just 6% of polled companies said they planned to do so and 18% indicated that they would examine this matter.

Kyodo staged the poll from November 7 to 21, with 107 largest Japan’s corporations participating in it.