Japan brands not likely to cut prices on weaker yen
CNATAIPEI--Prices of Japanese brands in Taiwan, ranging from cars and clothes to food, are unlikely to be lowered in the near future, despite a weaker yen, businesses said yesterday.
January 23, 2013, 12:01 am TWN
Hotai Motor Co., the Taiwanese sales agent for Toyota, said that although it will not lower prices, it has decided to postpone an originally planned mark-up time from January to March.
The country's largest automobile retailer decided last October to raise prices by 3 percent due to production cost increases, but after considering the weaker yen, Yu Shiao-chung, general manager of Hotai Motor's External Affairs Division, said: “We'd like to compromise.”
“We still need to raise prices, but what we can do is postpone the scheduled time,” Yu told CNA, adding that his company holds regular meetings with the Japanese headquarters to relay public opinion.
Meanwhile, Japanese clothes brand Uniqlo said it will not mark down prices as its factories are located worldwide and shipments and production are all valued in U.S. dollars, not Japanese yen.