Three of the major Japanese restaurant chains specializing in beef-on-rice dishes have launched a price war, vying for customers with offers of cheaper meals.
The chains, Yoshinoya, Sukiya and Matsuya have dropped the price of their beef-on-rice dishes to between 250 and 270 yen, albeit for a limited period.Yoshinoya apparently lowered its prices after facing stiff competition from its two main rivals. In December last year, Sukiya and Matsuya lowered the price of their regular beef-bowl servings to 280 and 320 yen, respectively. Yoshinoya did not immediately follow suit, pointing out that it was using 100 percent high-priced U.S. beef, but it started to lose customers as a result, with traffic at its existing stores down 22.3 percent in March compared with the same month the previous year.
Yoshinoya's move is a temporary measure to help turn around its performance, but immediately after the restaurant operator launched its campaign, Sukiya and Matsuya announced a limited sale undercutting Yoshinoya's prices once again, meaning the chain could boast of the lowest prices for just two days.
Yoshinoya has remained calm, with a public relations representative stating: "It's convenience stores and McDonald's that we are competing with. The effects (of the price battle) are not zero, but they are small."
http://mdn.mainichi.jp/mdnnews/business/news/20100410p2a00m0na005000c.html
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