Nippon Paper to Hike Price Domestically for Woodfree Colored Paper

July 10, 2013 - Japan-based Nippon Paper Industries announced a 10% (minimum) price hike for "woodfree colored paper in the domestic market to all its agencies" effective from August 21.

Nippon Paper said that rising costs for raw materials and depreciation of Japanese yen factored into its decision to increase pricing

"While the business environment of woodfree colored paper has been worsened by the prolonged downturn in the domestic demand and its market price has been falling, there were an upward trend in the price of raw materials and fuels, and rapid depreciation of the yen," Nippon Paper said in a press statement.

"Although the Company has struggled to reduce costs, the negative impact from these environmental changes cannot be absorbed only by the Company's own efforts. For these reasons, the Company decided to raise the price to a sustainable level," Nippon Paper added.

SOURCE: Nippon Paper Industries Co., Ltd.