Majority of Japan's food, household goods makers plan 2023 price hike

Businesses struggle to absorb blow from rising costs, weak yen: survey

Kirin Holdings, a major Japanese brewer, expects the cost of materials to climb 10% to 20% in 2023. (Photo by Yo Inoue)

YUSUKE YAGI, Nikkei staff writer

January 3, 2023 07:05 JST

TOKYO -- Price increases are planned in 2023 at the majority of Japanese companies that produce food and other daily necessities, a Nikkei survey finds, with businesses caught between covering surging costs and keeping customers happy.

The December survey of 46 leading companies found that 27, or 59%, intend to raise the sticker price of their products or reduce their size, essentially a price hike by other means.