Mitsubishi Heavy Industries Ltd and TCM Corporation have increased their Japanese domestic price lists, effective from April 1.

According to both companies, the price hike of raw materials, in particular steel, has influenced the change in domestic price lists.

Mitsubishi Heavy's prices will increase one per cent to eight per cent, depending on the model, and TCM's prices will increase five per cent across the board.

Forkliftaction.com News's news source speculated Toyota would repeat last July's price increase following price hikes by steel suppliers in April.

"Implementing severe exhaust emissions requirements will surely put pressure on companies to increase prices as well," he said.