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Torikizoku headed for red ink as price hike deters eaters

'Izakaya' operator abandons plan to have 1,000 locations

Torikizoku raised prices for the first time in 28 years in 2017, but the strategy seems to have backfired. (Photo by Tetsuo Oshiro)

TOKYO -- Torikizoku, an operator of Japanese-style izakaya pubs, said Friday that it expects to book a parent-only net loss of 356 million yen ($3.2 million) for the year ending July, as customers continue to stay away after the chain raised prices on all items in 2017.

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