Businesses in Japan feel the pinch of pricier crude amid ongoing energy crisis

Mr Fumiaki Kobayashi, owner of The Laundry Shop Kobayashi in Tokyo, may have to raise prices for the first time in over two decades. ST PHOTO: WALTER SIM
New: Gift this subscriber-only story to your friends and family

TOKYO/SEOUL - A humble mom-and-pop laundry that has been in business since 1935 is considering its first price hike in more than two decades.

The Laundry Shop Kobayashi, in Tokyo's Osaki district, is one of many businesses that are suffering from the twin blows of slow recovery from Covid-19 and an ongoing energy crisis that has sent crude prices surging.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.