Hike in Beef-Bowl Prices Sends Japan’s Zensho Shares Higher
Source: Yomiuri Shimbun/AP Images
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Shares of Japanese fast-food restaurant operator Zensho Holdings Co. jumped on its plans to raise prices at beef bowl chain Sukiya. A target price increase by Morgan Stanley MUFG Securities Co. also helped boost the stock.
Zensho surged as much as 7.7% in Tokyo to its highest since November 2023. Prices will increase for about 60% of Sukiya menu items starting Nov. 22 due to a recent rise in Japanese rice prices, the Tokyo-based company said in a statement Monday. The hike comes seven months after it raised prices on higher materials, labor and energy costs.