30% of Japan supermarkets in red

TOKYO, Oct 18 (News On Japan) - Due to the impact of surging prices, 30 percent of supermarkets in Japan are operating at a loss.

According to a private research firm, "Teikoku Databank", of approximately 1,100 companies nationwide, 31.3% reported losses for the fiscal year of 2022.

Combining this with companies that reported 'reduced profits' from the previous year, about 70% of companies have seen a decline in performance.

While prices for products are gradually being adjusted in light of soaring procurement costs and utilities, smaller supermarkets are bearing the burden as they try to compete with major retailers offering sales and discounts.

By region, Tottori Prefecture had the highest percentage of supermarkets operating at a loss, followed by Tokushima, Shiga, Gifu, and other primarily regional supermarkets. Population decline is a major issue facing these regions.

Supermarkets that performed well have been introducing measures such as self-checkout systems to reduce the need for staff and cut costs.

by Brian Dentry

Japan's Agriculture Ministry Urges Nationwide Action to Combat Avian Flu

The Ministry of Agriculture, Forestry, and Fisheries held an emergency meeting to address the rapid outbreak of avian influenza, urging prefectural governments to strengthen hygiene management measures.

Japan Grapples with Poverty and Rising 'Invisible Homeless'

Japan is facing a deepening crisis of poverty and inequality, with rising reports of 'invisible homeless' individuals and growing economic hardships among the population. Discussions over reforms to the country's tax and welfare systems have taken center stage, as policymakers grapple with how to provide meaningful support.

Ueno Toshogu Shrine Shines in Gold with Special Lighting

A special lighting ceremony was held on November 20th at Ueno Toshogu Shrine, located in Ueno Park, Taito Ward, Tokyo. The event featured a unique lighting design created by renowned lighting designer Motoko Ishii.

World's First Fiber Made From Bagworm Silk Revolutionizes Industry

A Japanese pharmaceutical company has announced the successful commercialization of fiber made from silk produced by bagworms.

Japan's Year-End Jumbo Lottery Kicks Off Nationwide

Sales for the Year-End Jumbo Lottery, which offers a combined prize of 1 billion yen for the first prize and adjacent prizes, have officially begun.

MEDIA CHANNELS

MORE Business NEWS

Japan Allocates Budget for Securing Copper Mine Interests

The Japanese government plans to incorporate securing copper mine interests into its upcoming economic measures, according to a report by TV Tokyo. Copper, an essential material for electric vehicles (EVs), semiconductors, and data centers, faces increasing global demand, raising concerns over supply shortages.

Beaujolais Nouveau hits shelves without price hike

This year's bottles of Beaujolais Nouveau have hit store shelves across Japan. And in some more good news for wine drinkers, many retailers and importers have kept prices unchanged despite the weak yen. (NHK)

Japanese chipmaker Kioxia to debut on TSE in mid-December

Japanese semiconductor maker Kioxia Holdings is expected to be listed on the Tokyo Stock Exchange next month after years of postponement. (NHK)

New Osaka Marubiru to Open in 2030

The iconic Osaka Marubiru in Umeda, closed last year due to aging, will be replaced with a new 192-meter skyscraper, the tallest in the Osaka Station area.

Tokyo Condo Prices Surge as Demand for Luxury Units Grows

The average price for a newly built condominium in Tokyo’s 23 wards has remained above 100 million yen for six consecutive months.

Rice Trade Prices Reach Record High for Second Consecutive Month

The average transaction price of newly harvested rice between agricultural cooperatives and wholesalers reached a record high for the second consecutive month in October. The price of unpolished rice was 23,820 yen per 60 kilograms.

NVIDIA Invests in Japan's 'Sakana AI'

NVIDIA has thrown its weight behind Sakana AI, a Tokyo-based startup rapidly gaining traction in the booming generative AI field. Since ChatGPT's debut in November 2022, industry giants like Google and Meta have entered the fray, intensifying the competitive landscape.

Ueda: BOJ rate decisions depend on prices, economic trends

Bank of Japan Governor Ueda Kazuo says the BOJ makes decisions on interest rates by carefully assessing all risk factors at each monetary policy meeting. (NHK)

< 2 3 4 5 >