News On Japan

Costco to Hike Membership Fees

TOKYO - Costco announced on February 3rd that it will raise the annual cost of its Gold Star membership by 440 yen to 5,280 yen, while the Executive membership, which offers a 2% rebate on purchases, will increase by 660 yen to 10,560 yen, starting May 1st.

The decision has prompted mixed reactions from customers. A shopper who has been a Costco member for ten years said they purchased ground pork and a Mexican salad wrap, describing their shopping experience as akin to visiting a theme park—both enjoyable and cost-saving. They acknowledged the rising costs, saying, “It’s unavoidable.” Another customer from a seven-person household stated that buying in bulk at Costco remains more economical than shopping at regular supermarkets, and the membership fee increase would not deter them from renewing. However, not all customers shared this view. A 15-year-long member pointed out that there are few exclusive benefits for members beyond the discounts, adding that if the annual fee were to rise to 6,000 or 7,000 yen, it might be too high for them.

Costco explained the reasoning behind the increase, stating that membership fees allow the company to provide products and services at the lowest possible prices. The company emphasized that the fee adjustment was necessary to maintain and improve the quality and value of its offerings.

The fee hike at Costco comes amid a broader trend of rising prices for subscription-based services. Many consumers are already dealing with increasing costs for various subscriptions, with some mentioning they are subscribed to services like Amazon Prime, Netflix, Disney+, YouTube Premium, and ABEMA. A survey of more than 4,000 people found that over half had used subscription services, but many admitted they had not considered the cumulative cost. One respondent said they subscribed to services on a case-by-case basis without calculating the total expense but acknowledged that as costs rise while wages stagnate, the financial burden is becoming more noticeable. Another subscriber, who had signed up for DAZN to watch J.League soccer, mentioned that the service had become significantly more expensive, leading them to consider canceling one of their subscriptions after realizing they were spending nearly 10,000 yen per month.

Price increases are affecting more than just groceries. In 2024, Netflix raised its monthly fees by up to 310 yen, while Amazon Prime increased its annual membership fee by 1,000 yen in 2023.

Source: FNN

News On Japan
POPULAR NEWS

A newly formed tropical depression near Taiwan on June 9th is expected to intensify the seasonal rain front lingering over southwestern Japan, raising the risk of warning-level rainfall across Okinawa and the Amami Islands through around June 11th.

Japan's national soccer team arrived in Nashville, Tennessee, on June 8th from Monterrey, Mexico, where it had been conducting a pre-World Cup training camp, and held its first practice session at its base camp for the FIFA World Cup in North America.

A prolonged eruption at Sakurajima on June 7th blanketed parts of Kagoshima City in volcanic ash, turning roads gray and prompting long lines of vehicles seeking car washes after a plume of smoke rose 1,300 meters above the crater.

A powerful earthquake struck off Mindanao Island in the southern Philippines at 8:38 a.m. (Japan time) on June 8th, generating tsunami waves across parts of the Pacific, causing building collapses and casualties near the epicenter, and prompting the Japan Meteorological Agency to issue tsunami advisories along a wide stretch of Japan's Pacific coastline before lifting all of them at 4:50 p.m.

A clinic director and a former Peruvian staff member have been referred to prosecutors after the man allegedly performed medical procedures without a license, including an external cephalic version—a procedure used to manually turn a baby into the correct position before birth—at an obstetrics and gynecology clinic in Fukuoka City, raising concerns about patient safety and oversight in maternity care.

MEDIA CHANNELS
         

MORE Business NEWS

The Bank of Japan is increasingly expected to raise its policy interest rate to 1.0% at next week's monetary policy meeting, responding to growing concerns that inflation could rise faster than previously anticipated due to soaring oil prices and other cost pressures.

The number of restaurant bankruptcies in Japan reached a record high for the January–May period, highlighting mounting pressures from rising costs, labor shortages, and increasingly cautious consumer spending.

Casio Computer, the company behind some of Japan’s most iconic consumer electronics including calculators, digital cameras, electronic musical instruments, and the G-SHOCK watch, is pursuing a new strategy aimed at reviving its tradition of product innovation.

Nippon Steel plans to invest up to $2.5 billion, or approximately 400 billion yen, over the next three years in the Mon Valley Works steel complex in Pennsylvania, one of the key facilities operated by U.S. Steel, the American steelmaker it acquired in 2025.

Japan's economy grew at an annualized rate of 1.8% in the January–March quarter of 2026, according to revised gross domestic product (GDP) data released by the Cabinet Office, with the figure marked down from the preliminary estimate due largely to weaker-than-expected capital investment.

Japanese stocks suffered a sharp sell-off on June 8th as weakness in U.S. technology shares and growing concerns over higher global interest rates triggered widespread selling, sending the Nikkei Stock Average down 2,563.52 points, or about 3.8%, to close at 64,024.60.

Japan's current account surplus expanded 64.9% from a year earlier to 3.9078 trillion yen in April, marking the 15th consecutive month of positive balance, according to balance of payments data released by the Finance Ministry on June 8th.

Rapid inflation and the weakening yen continue to squeeze household budgets across Japan, prompting renewed debate over the country's economic policies. Former Bank of Japan Governor Haruhiko Kuroda, who spearheaded the central bank's aggressive monetary easing campaign under Abenomics, argues that the overall economy remains on a positive trajectory and that wage growth is now exceeding inflation.