McDonald's Japan to raise menu prices for second time this year

McDonald s Holdings Co. Japan Ltd. (MDNDF) will raise its menu prices for the second time this year.

The fast-food chain is about to hike the price of 60% of its products by 10 to 30 yen $0.07 - $0.21 from Sept. 30, according to a company statement.

The move came in the wake of Japan's highest inflation in decades, coupled with a weakening currency.

The report said that the company, which operates stores for Chicago-based McDonald s Corp., said it has been affected by a recent surge in raw material prices, rising labor, logistics and energy costs, as well as rapid exchange rate fluctuations.

Since the beginning of the year, the yen has depreciated by about 24% against the dollar.

See also: Where McDonald's Stands With Analysts

The last time that the company raised its prices in Japan was in March of this year. The report said it hiked the price of nearly 20% of its Japan menu items, citing factors such as the rising cost of beef and wheat.

Price Action: McDonald's Holdings Company Japan's shares closed on Monday, 0.1% higher, and are down about 1.4% year-to-date.