Premium telescopes, violin bows and speciality paper are bucking a deflationary trend that has defined Japan for decades — all have had their prices hiked by companies confident they can charge more without losing business.
Years of stagnant prices and wages have made corporate Japan nervous about charging more for fear of alienating shoppers and losing market share. Traditionally, firms have chosen belt-tightening in the face of rising costs.
While the overall rise in prices is still modest, more firms are opting for increases, led by market leaders often with speciality products, as commodities and transport costs soar due to the COVID-19 pandemic and a weakening yen makes fuel and imports costly.