Key Facts
• June 11, 2025: KitoKoku Shinryo issued a statement denying price manipulation.
• The company reported a 4.9x increase in operating profit (¥1.9 billion) from Jan-Mar 2025.
• Profit growth attributed to higher procurement costs passed to prices and reduced retail discounts.
• Agriculture Minister Koizumi highlighted a 500% profit increase in major wholesalers last week.
• Koizumi aims to improve transparency in rice distribution processes.
Summary
KitoKoku Shinryo, a leading rice wholesaler, denied allegations of unfair price manipulation amid rising rice costs. On June 11, 2025, the company clarified that it had not restricted distribution or engaged in inappropriate practices. From January to March 2025, its operating profit surged 4.9 times year-on-year to ¥1.9 billion, driven by higher procurement costs passed to prices and fewer retail discounts. Agriculture Minister Koizumi recently noted a 500% profit increase among major wholesalers and emphasized the need for transparency in rice distribution.
