Sanyo raises RI prices

Sanyo raises RI prices

TOKYO (Reuters): Sanyo Electric Co Ltd said on Tuesday it raised wholesale prices of its products in Indonesia by 50 percent in January in line with rising costs of importing components and materials caused by the weakened Indonesian currency.

Jakarta-based Sanyo Industries Indonesia, owned 65 percent by Sanyo and the rest by local investors, cut production by 20 percent in mid-January, a Sanyo spokesman said.

Sanyo Industries Indonesia produces refrigerators, air conditioners and washing machines, as well as compressors for use in refrigerators and air conditioners. Sanyo had raised the price of its products in Indonesia by 15 percent in autumn last year.