Latest news with #Teikoku
The Star
4 days ago
- Business
- The Star
Japan curry shops see record bankruptcies as rice prices soar
Prices of mainstay ingredients in Japanese curry, such as rice and spices, have gone up due to a rice shortage, adverse weather and a weak yen. -- PHOTO: ST FILE TOKYO (Bloomberg): A record number of curry shops in Japan went out of business in the past year, as purveyors of one of the country's most beloved dishes took a hit from soaring rice prices. Thirteen curry shops with more than ¥10 million (US$70,000) in debt filed for bankruptcy in the year ending in March - marking a record high for the second consecutive year, according to a report from Tokyo-based research firm Teikoku Databank. The total number of bankruptcies is likely much higher when considering smaller mom-and-pop shops, Teikoku said. Prices of mainstay ingredients in Japanese curry - such as rice, spices, meat and vegetables - have gone up due to a rice shortage, adverse weather and a weak yen, the report said. Higher energy prices have also dented the profits of shop operators. Japanese curry, a thick brown sauce containing meat and vegetables, is usually served on a bed of rice. A basic curry rice dish, a classic comfort food, now costs ¥365 ($2.50) - a record high, according to Teikoku. Prime Minister Shigeru Ishiba's government has been scrambling to combat skyrocketing rice prices in Japan by releasing stockpiles of the staple ahead of a summer election. During the coronavirus pandemic, takeout and delivery orders had fueled a curry boom - that has now also slowed and hurt sales for curry shops, Teikoku said. -- ©2025 Bloomberg L.P.
Straits Times
4 days ago
- Business
- Straits Times
Japan curry shops see record bankruptcies as rice prices soar
TOKYO – A record number of curry shops in Japan went out of business in the past year, as purveyors of one of the country's most beloved dishes took a hit from soaring rice prices. Thirteen curry shops with more than 10 million yen (S$89,400) in debt filed for bankruptcy in the year ending in March – marking a record high for the second consecutive year, according to a report from Tokyo-based research firm Teikoku Databank. The total number of bankruptcies is likely much higher when considering smaller mom-and-pop shops, Teikoku said. Prices of mainstay ingredients in Japanese curry – such as rice, spices, meat and vegetables – have gone up due to a rice shortage, adverse weather and a weak yen, the report said. Higher energy prices have also dented the profits of shop operators. Japanese curry, a thick brown sauce containing meat and vegetables, is usually served on a bed of rice. A basic curry rice dish, a classic comfort food, now costs 365 yen – a record high, according to Teikoku. Prime Minister Shigeru Ishiba's government has been scrambling to combat skyrocketing rice prices in Japan by releasing stockpiles of the staple ahead of a summer election. During the coronavirus pandemic, takeout and delivery orders had fuelled a curry boom – that has now also slowed and hurt sales for curry shops, Teikoku said. Bloomberg Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
4 days ago
- Business
- Business Times
Japan curry shops see record bankruptcies as rice prices soar
[TOKYO] A record number of curry shops in Japan went out of business in the past year, as purveyors of one of the country's most beloved dishes took a hit from soaring rice prices. Thirteen curry shops with more than 10 million yen (S$89,345) in debt filed for bankruptcy in the year ending in March – marking a record high for the second consecutive year, according to a report from Tokyo-based research firm Teikoku Databank. The total number of bankruptcies is likely much higher when considering smaller mom-and-pop shops, Teikoku said. Prices of mainstay ingredients in Japanese curry – such as rice, spices, meat and vegetables – have gone up due to a rice shortage, adverse weather and a weak yen, the report said. Higher energy prices have also dented the profits of shop operators. Japanese curry, a thick brown sauce containing meat and vegetables, is usually served on a bed of rice. A basic curry rice dish, a classic comfort food, now costs 365 yen – a record high, according to Teikoku. Prime Minister Shigeru Ishiba's government has been scrambling to combat skyrocketing rice prices in Japan by releasing stockpiles of the staple ahead of a summer election. During the coronavirus pandemic, takeout and delivery orders had fuelled a curry boom – that has now also slowed and hurt sales for curry shops, Teikoku said. BLOOMBERG
Bloomberg
31-03-2025
- Business
- Bloomberg
Japan to See Most Price Hikes for Food Products in 18 Months
Japanese food and beverage companies will raise prices on more than 4,000 products starting Tuesday to offset higher costs for everything from raw materials to labor, according to a survey by Teikoku Databank. A total of 4,225 products will get price hikes, the most since October 2023, Teikoku said Monday based on a survey of 195 food and beverage firms. Among products to see price increases are processed foods such as sausage, seasonings and beverages including canned beer.
Japan Times
20-02-2025
- Business
- Japan Times
Record percentage of Japanese firms plan wage hikes, survey shows
More than 60% of Japanese companies — a record high percentage — plan to raise workers' wages in the next fiscal year beginning April as they fight to recruit and retain staff, according to a survey by Teikoku Databank. Some 61.9% of over 11,000 surveyed companies intend to pledge pay increases as part of annual wage negotiations culminating in March, the report Thursday showed. A year ago, when the wage talks ultimately resulted in the biggest increases in decades, 59.7% of companies surveyed by Teikoku flagged pending hikes. About 56% of surveyed firms said they plan to raise base salaries, also marking the highest percentage since the data firm began tracking this question in 2007. The survey was conducted in late January.
