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Kuraray Fastening Co., Ltd. (Head Office: Kita-ku, Osaka; President: Toru Tanokura; hereinafter “Kuraray Fastening”) hereby announces its decision to increase the prices of MAGIC TAPE™, MAGILOCK™ and other hook and loop fastener products for shipments commencing July 1, 2021.
Costs associated with the offerings listed below have been increasing due to a surge in the prices of primary raw materials as well as rises in utility, logistics and other expenses. This increase in costs is in excess of the effects of its cost-reduction endeavors.
Under these circumstances, Kuraray Fastening has decided to implement the price revisions set out below.
| 1.Scope of Revision | MAGIC TAPE™, MAGILOCK™, MAGIC BAND™ and other relevant hook and loop fastener products for retail marketing |
|---|---|
| 2.Range of Price Increase | 15% or more from the current prices |
| 3.Effective Date | Shipments from July 1, 2021 |
