Japan’s small and medium- sized enterprises cited surging procurement costs as the biggest strain from the Middle East conflict, a joint survey by the Japan Chamber of Commerce and Industry and the Tokyo Chamber of Commerce and Industry showed.
The survey of 2,497 companies across all 47 prefectures, conducted from May 7-29, found that rising fuel and petrochemical prices affected 70% to 80% of firms, while supply disruptions for petrochemicals hit more than half.
Rising procurement costs topped the list of business impacts at 74.8%, followed by higher fuel prices at 62.9% and increased logistics costs at 38.7%. About 46.6% of firms said they had fully or partially passed on higher costs to customers; 48.4% said they had largely or entirely failed to do so.
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