Japan's top potato chip maker Calbee to raise prices up to 20%

Jun 22 (Business Times) - CALBEE, Japan's answer to Frito-Lay with an enormous product line-up ranging from pizza-flavoured potato chips to low-carb granola, is raising prices again as companies struggle to absorb costs that are climbing at the fastest clip in years.

The Tokyo-based company said in a statement Wednesday (Jun 22) it will raise the prices of snacks and cereals in Japan by 5 per cent to 20 per cent from September because of increasing material costs. Its shares advanced as much as 5.1 per cent in Tokyo after the announcement, their biggest intraday gain in more than a month.

While paying more for food is a worldwide phenomenon, it's an especially sensitive topic in Japan, where stagnant wages make it hard for households to swallow a rush of price hikes for everything from burgers to beer. The yen's slide to a 24-year low against the dollar is also exacerbating price pressures for the resource-poor archipelago, which is heavily reliant on imports for energy and food.

The popularity of the snack maker, whose largest shareholder is PepsiCo, reaches beyond the supermarket aisle. Its regional souvenirs of limited-edition snacks ranging from octopus-ball flavoured potato sticks in Osaka or taco-rice flavoured ones in a nod to a popular dish in the southernmost prefecture of Okinawa are also hugely popular and will cost more come fall, the company said.

Source: 日テレNEWS

Russian military plane intrudes into Japanese airspace, Tokyo lodges protest

A Japanese government spokesperson says a Russian military airplane entered Japanese airspace three times on Monday. (NHK)

Victim number increases to seven after torrential downpours in Ishikawa Pref.

Seven people are dead in the wake of torrential downpours in Japan's central Ishikawa Prefecture that have caused rivers to flood and mudslides across the Noto region. Some people living in temporary shelters following the New Year's Day earthquake are once again facing recovery efforts, this time from flooding. (NHK)

First Snow of Season Observed at Mount Rishiri

Signs of winter are already arriving. Mount Rishiri in Hokkaido recorded the first snowfall of the season on Sunday, making it the first observed in Japan this year.

Flying Car Shows Potential for Disaster Relief

A test flight for flying cars was conducted in Wakayama Prefecture on Saturday, reaching an altitude of 40 meters, demonstrating stability in windy conditions.

Ohtani Hits Milestone with 52-52 Record

Shohei Ohtani returned to Dodger Stadium in spectacular fashion, hitting a home run and stealing a base in his first game back, raising his season total to 52 home runs and 52 stolen bases.

MEDIA CHANNELS

MORE Business NEWS

Tokyo Metro to Go Public on October 23

The Tokyo Stock Exchange announced on Friday that it has approved the initial public offering (IPO) of Tokyo Metro on the TSE Prime Market. The planned listing date is October 23.

Daihatsu Recalls 1.71 Million Vehicles Due to Bolt Issues

Daihatsu Motor announced on Friday that it has filed a recall with the Ministry of Land, Infrastructure, Transport, and Tourism for 1.71 million vehicles, including 15 models such as the Tanto, due to improper tightening of seat bolts.

New Condominium Prices in Tokyo Exceed 100 Million Yen for Fourth Straight Month

The average price of a newly built condominium in Tokyo’s 23 wards has exceeded 100 million yen for the fourth consecutive month.

Why Onna Village Leads Japan's Growth in Land Prices

The village of Onna in Okinawa has recorded the highest land price increase in Japan, with prices for some areas rising by 29%. The average nationwide land price has increased by 1.4% for the third consecutive year, but the sharpest growth is seen in residential areas like Onna Village.

Japan's Land Prices Surge for 4th Straight Year

Land prices across Japan have been rising for four consecutive years, with North Kanto emerging as a key area of interest due to its favorable living conditions.

Sharp Unveils First EV With Extended Living Room

Sharp, a major home appliance manufacturer, has unveiled its first electric vehicle (EV) as part of its move into the electric vehicle market, with a five-seater 'extended livingroom' EV Sharp van.

What’s the Price of Golden Black Jack?

Gold is gaining increasing attention as a stable asset. Among the most eye-catching items at a gold exhibition held in a Sapporo department store are statues of the genius surgeon Black Jack and his assistant Pinoko, both made of gold.

Honda’s First Startup Launches Navigation Device for the Visually Impaired

There are approximately 2 million visually impaired individuals in Japan and 300 million worldwide. Due to their impaired vision, going out often comes with the risk of accidents. In response to this issue, Honda's first startup Asirase, led by CEO Chino, developed a navigation device called 'Ashirase' to assist visually impaired individuals in walking safely.

< 2 3 4 5 >