Menu Prices to Be Lowered at U.S. “Ikinari Steak” Restaurants

July 12, 2018

New York- The U.S. arm of Pepper Food Service Co. said Wednesday that it will lower the prices of menu items provided at its U.S. outlets of "Ikinari Steak," a Japan-based steakhouse chain, from Thursday.

The price for a 10-ounce rib-eye steak will fall from the current 23 dollars to 16 dollars, which is cheaper than the price at outlets in Japan, at the equivalent of 18 dollars.

The reduced menu prices will be available at all eight Ikinari Steak restaurants in New York.

"Many restaurant chains that expanded to the United States, where the cost of living is high, set prices that are about double those in Japan," Hideki Kawano, head of the U.S. branch, said at a press conference in New York on Wednesday.

He added that the U.S. Ikinari Steak stores are able to provide cheaper menu items than those in Japan as beef procured within the United States is not subjected to tariffs.

According to Kawano, sales at the restaurants increased two to three times the usual level when prices on the menu were lowered on a trial basis in late June at all outlets in New York.

Pepper Food plans to open three more Ikinari Steak stores in New York by the end of this year.

"We'd like to open stores, mainly franchise stores, all over the United States next year and beyond," Kawano said. Jiji Press