Curry chain plans to raise its prices

JIJI

The Coco Ichibanya curry restaurant chain plans to raise prices next April in line with the scheduled rise in the consumption tax from 5 percent to 8 percent.

The company explained Monday that until now it has not charged customers the consumption tax, but rising costs for cooking oil and packaging for takeouts have eroded its profitability.

Ichibanya Co. President Toshiya Hamajima said at a news conference to announce earnings results for the year to May that the company wants the public to be aware that its prices will rise by the same rate as the sales tax.