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100 Yen Shops (Japanese:百円ショップ hyaku-en shoppu, or One Coin Shops) have steadily gained in popularity over the last several years. 100 Yen shops are everywhere in Japan, and they stock a variety of items from clothing to stationery, housewares to food, with each item priced at 100 yen. A recent variation of the 100 Yen Shops are 99 Yen Shops. Daiei also operates 88 Yen stores. The current Japanese sales tax of 5% is also added, making a 100 Yen purchase actually cost 105 Yen.
One supporter of 100 Yen Shops is Hirotake Yano, the founder of Daiso Industries Co. Ltd., which runs "The Daiso" chain. The first store opened in 1991, and there are now around 1,300 stores in Japan. This number is increasing by around 40 stores per month.
Similar shops have opened around other parts of Asia as well, some of them operated by Japanese companies such as Daiso. In Hong Kong, department stores have opened their own 10-dollar-shop (JPY140) to compete in the market, and thus there are now "8-dollar-shop" (JPY110) in Hong Kong, in order to compete with lower prices.
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