Nippon
Paper Industries Co., Ltd. today announced that it will increase pricing on its
printing and communication papers, and converting paper sold in the domestic
market.
The
increase will be a minimum of 10%, effective with shipments on October 21.
Nippon
Paper said the price hike is necessary due in part to rising input costs.
“While
the depreciation of Japanese yen trend continues, the prices of raw materials
and fuels are in an upward trend. Although the company has made sustained
efforts to reduce costs, it has proven difficult to absorb all the cost
increases through the Company's own efforts, and it was decided that there was
no alternative but to pass the cost on to the product prices,” Nippon Paper
said in a press release.
