Rengo Co., Ltd. announces that it will revise the prices of its corrugated board/carton and folding carton. An increase of 10% or more over current prices will be applied to all consignments delivered from April 1, 2024 onwards.

The environment continues to be challenging, with raw material and fuel prices remaining high and the prolonged depreciation of the yen. Furthermore, amidst rising logistics costs and worsening labor shortages, including in response to the driver work style reforms that begins in April of this year, various cost-increasing factors have arisen, including the securing of human resources to continue stable supply, rising labor costs due to ongoing wage increases strongly requested by the government, environmental measures to reduce greenhouse gases, and capital investment to improve the working environment.

In addition, under the "Declaration of Partnership Building," Rengo is working to comply with "Promotion Standards" based on the Act on the Promotion of Subcontracting Small and Medium-sized Enterprises and to build partnerships with its suppliers. Rengo is also accepting requests from small and medium-sized subcontracting companies to revise prices in line with cost increases or wage increases.

In response to these changes in cost structure across the entire value chain, Rengo has continued to tackle thorough cost reductions and strive to absorb costs.