Japan Curry Shops See Record Bankruptcies as Rice Prices Soar
Prices of mainstay ingredients in Japanese curry have gone up.
Photographer: Kiyoshi Ota/BloombergA record number of curry shops in Japan went out of business in the past year, as purveyors of one of the country’s most beloved dishes took a hit from soaring rice prices.
Thirteen curry shops with more than ¥10 million ($70,000) in debt filed for bankruptcy in the year ending in March — marking a record high for the second consecutive year, according to a report from Tokyo-based research firm Teikoku Databank. The total number of bankruptcies is likely much higher when considering smaller mom-and-pop shops, Teikoku said.