Latest news with #Ito-Yokado
3 days ago
- Business
2,000-Yen Govt-Stockpiled Rice Reaches Consumers in Japan
Tokyo, May 31 (Jiji Press)--Japanese government-stockpiled rice released under no-bid contracts started to hit store shelves at reasonable prices in some areas in the country on Saturday, with the focus now on whether this would lead to price falls for other types of rice. Some retailers, including supermarket chain Ito-Yokado Co., began selling government-stockpiled at some of their outlets the same day and others are set to follow suit one after another from Sunday, meaning that agriculture minister Shinjiro Koizumi's target of realizing rice prices of 2,000 yen per 5 kilograms was achieved in just over a week since it was set out. Ito-Yokado's Omori store in Tokyo's Ota Ward prepared 500 5 kg bags of government-stockpiled rice harvested in 2022 with a price tag of 2,160 yen each, including tax. All of the numbered tickets for the bags were distributed before the store opened at 10 a.m., and the prepared bags were sold out within about 30 minutes after the opening. The situation was similar at an outlet of household goods supplier Iris Ohyama Inc.'s Daisin hardware store chain in Sendai, Miyagi Prefecture, northeastern Japan. Some 250 people were lined up at the store as of 7:30 a.m. for the 95 5 kg bags of government-stockpiled rice put on sale also at 2,160 yen each. They were sold out immediately after going on sale at 9 a.m. On Sunday, major retailer Aeon Co. and discount store operator Don Quijote Co., a subsidiary of Pan Pacific International Holdings Corp., will start selling government-stockpiled rice at their stores in Tokyo. They plan to gradually expand their sales areas. [Copyright The Jiji Press, Ltd.]
Kyodo News
3 days ago
- Business
- Kyodo News
Japan's cheaper stockpiled rice starts hitting store shelves
KYODO NEWS - 6 hours ago - 15:52 | All, Japan The Japanese government's stockpiled rice released through direct contracts with retailers began hitting store shelves Saturday, with consumers flocking to the cheaper products. Major supermarket operator Ito-Yokado Co. and home appliance company Iris Ohyama Inc. were the first to start selling the rice at some of their shops, both setting a price tag of 2,160 yen ($15) including tax for a 5 kilogram-bag. At an Ito-Yokado store in Tokyo's Ota Ward, 500 bags of rice sold out in just 30 minutes since its opening at 10 a.m. Other Ito-Yokado stores will also start selling the rice on Sunday or later. At a home center operated by an Iris Ohyama group company in Sendai, northeastern Japan, some 250 people lined up before 8 a.m. in the rain to get numbered tickets to purchase the rice. "It's cheap, and that helps," Mitsuko Matsuura, 71, said, expressing her relief that she was able to purchase the rice. She also said its taste was "not so different" from newly harvested rice. An 82-year-old man was disappointed that he was not able to make a purchase. "We are a family of five, so it's quite tough. I would like to come again to buy (the rice)." In the latest effort to bring down the soaring price of rice that has been hitting households, the Japanese government began selling its stockpiles through direct contracts with retailers earlier this week. Subject to the direct contracts is 300,000 tons of rice from 2021 and 2022. Ito-Yokado secured 5,000 tons and Iris Ohyama 10,000 tons of the 2022 harvest. Supermarket giant Aeon Co. and discount store chain Don Quijote will also start selling the stockpiles they procured from Sunday. The Ministry of Agriculture, Forestry and Fisheries initially offered reserve rice through auctions. But it switched to selling it directly to retailers in the hope that doing so will be more effective in curbing rice prices. Related coverage: Japan consumer watchdog warns of rice scam websites as prices soar Japan eyes more rice exports as domestic consumption set to decline Japan opposition chief rebuked for calling gov't reserve rice "animal feed"
Japan Today
3 days ago
- Business
- Japan Today
Cheaper stockpiled rice starts hitting store shelves in Japan
Bags of reserve rice released from government stockpiles are seen on the shelves at an Ito-Yokado supermarket in Tokyo on Saturday. The Japanese government's stockpiled rice released through direct contracts with retailers began hitting store shelves Saturday, with consumers flocking to the cheaper products. Major supermarket operator Ito-Yokado Co and home appliance company Iris Ohyama Inc were the first to start selling the rice at some of their shops, both setting a price tag of 2,160 yen including tax for a 5 kilogram-bag. At an Ito-Yokado store in Tokyo's Ota Ward, 500 bags of rice sold out in just 30 minutes since its opening at 10 a.m. Other Ito-Yokado stores will also start selling the rice on Sunday or later. At a home center operated by an Iris Ohyama group company in Sendai, Miyagi Prefecture, some 250 people lined up before 8 a.m. in the rain to get numbered tickets to purchase the rice. "It's cheap, and that helps," Mitsuko Matsuura, 71, said, expressing her relief that she was able to purchase the rice. She also said its taste was "not so different" from newly harvested rice. An 82-year-old man was disappointed that he was not able to make a purchase. "We are a family of five, so it's quite tough. I would like to come again to buy (the rice)." In the latest effort to bring down the soaring price of rice that has been hitting households, the Japanese government began selling its stockpiles through direct contracts with retailers earlier this week. Subject to the direct contracts is 300,000 tons of rice from 2021 and 2022. Ito-Yokado secured 5,000 tons and Iris Ohyama 10,000 tons of the 2022 harvest. Supermarket giant Aeon Co and discount store chain Don Quijote will also start selling the stockpiles they procured from Sunday. The Ministry of Agriculture, Forestry and Fisheries initially offered reserve rice through auctions. But it switched to selling it directly to retailers in the hope that doing so will be more effective in curbing rice prices. © KYODO
Kyodo News
3 days ago
- Business
- Kyodo News
Japan's cheaper stockpiled rice starts hitting store shelves
KYODO NEWS - 11 minutes ago - 14:33 | All, Japan The Japanese government's stockpiled rice released through direct contracts with retailers began hitting store shelves Saturday, with consumers flocking to the cheaper products. Major supermarket operator Ito-Yokado Co. and home appliance company Iris Ohyama Inc. were the first to start selling the rice at some of their shops, both setting a price tag of 2,160 yen ($15) including tax for a 5 kilogram-bag. At an Ito-Yokado store in Tokyo's Ota Ward, 500 bags of rice sold out in just 30 minutes since its opening at 10 a.m. Other Ito-Yokado stores will also start selling the rice on Sunday or later. At a home center operated by an Iris Ohyama group company in Sendai, northeastern Japan, some 250 people lined up before 8 a.m. in the rain to get numbered tickets to purchase the rice. "It's cheap, and that helps," Mitsuko Matsuura, 71, said, expressing her relief that she was able to purchase the rice. She also said its taste was "not so different" from newly harvested rice. An 82-year-old man was disappointed that he was not able to make a purchase. "We are a family of five, so it's quite tough. I would like to come again to buy (the rice)." In the latest effort to bring down the soaring price of rice that has been hitting households, the Japanese government began selling its stockpiles through direct contracts with retailers earlier this week. Subject to the direct contracts is 300,000 tons of rice from 2021 and 2022. Ito-Yokado secured 5,000 tons and Iris Ohyama 10,000 tons of the 2022 harvest. Supermarket giant Aeon Co. and discount store chain Don Quijote will also start selling the stockpiles they procured from Sunday. The Ministry of Agriculture, Forestry and Fisheries initially offered reserve rice through auctions. But it switched to selling it directly to retailers in the hope that doing so will be more effective in curbing rice prices. Related coverage: Japan consumer watchdog warns of rice scam websites as prices soar Japan eyes more rice exports as domestic consumption set to decline Japan opposition chief rebuked for calling gov't reserve rice "animal feed"
Japan Times
03-04-2025
- Business
- Japan Times
Japan retailers boost own-brand products amid inflation
Retailers in Japan are expanding their lineups of private-label products in the hopes of attracting more customers struggling with soaring prices. In April, prices of 4,225 items from major food manufacturers, including cooking oil, beer and processed meat products, will be raised, according to Teikoku Databank. Private-label products, which retailers develop in partnership with manufacturers, can be sold at lower prices than those of name-brand products because of reduced advertising and promotion costs. Aeon on Wednesday started selling three new products for ¥321 ($2.20) each, including a frozen bento boxed meal containing peperoncino pasta and a hamburger steak with tomato sauce. The retail giant will cut prices of 75 items in its Topvalu private-brand series by some 4% to 21% from Wednesday. The price of its 900-gram bottled cooking oil will fall to ¥246 from ¥257. Supermarket chain Ito-Yokado has increased the number of its Seven the Price private-label products by 10%. The line include a ¥321 package of 20 gyoza dumplings made of leftover cabbage and gyoza skins. For its 750-g dashi soup stock, sold at ¥645, the retailer simplified the packaging to cut costs and lower the retail price. Such products are "10 to 20% cheaper than name-brand products," an Ito-Yokado official said. Convenience store operator Lawson renewed its own-brand series for the first time in five years, aiming to popularize the products including onigiri rice balls and desserts by redesigning their packaging. "When the consumer price index rises, the proportion of private-label products (purchased by consumers) also increases," said a Lawson official. "Expectations for own-brand products will definitely grow."
