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Economy

Third time lucky? Japan's service sector hopes price hikes stick

Businesses tried to beat deflation twice since 2000; they're at it again

Yakitori chicken skewers sizzle at a Japanese-style pub in Tokyo.   © Reuters

TOKYO -- Japanese-style pub chain Torikizoku saw its stock surge 13% on Monday, Dec. 11. This came as something of a surprise considering that, after the close of trading the previous Friday, it had announced a 2% drop in operating profit for the August-October quarter.

The izakaya operator had raised prices by 6% in October and, to make things worse, two typhoons had slammed the country, discouraging yakitori fans from venturing out. Customer traffic for October had dropped 7%.

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