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Over 40% of Japanese companies are raising prices within the next year as the cost of materials goes up due to the COVID-19 pandemic and Russia\u2019s invasion of Ukraine, a survey by a credit research firm showed.<\/p>\n\n\n\n
In the Teikoku Databank Ltd. survey of 1,855 companies in Japan conducted in early April, 43.2% of the firms said they raised prices in April or plan to do so by the end of March next year.<\/p>\n\n\n\n
When combined with the companies that have already increased prices between October and March, the percentage reaches 64.7% of the total, Teikoku Databank said.<\/p>\n\n\n\n
However, 16.4% said they are unable to pass on the higher costs to customers even though they want to, while 7.4% had no plan to increase prices within a year.<\/p>\n\n\n\n
While some industries such as steel, chemical goods and food manufacturing are relatively willing to pass on higher costs, other industries such as transportation companies and hotels ? which face severe price competition ? remain hesitant, the research firm said.<\/p>\n<\/div><\/div>\n\n\n\n