A rice cooker can cost anywhere between $15 and $230, according to a 2015 Google Shopping listing. The price depends on factors such as capacity, functionality and material quality.
The first commercial rice cooker was created in Japan by the Mitsubishi corporation. It had a very simple design, consisting of an aluminum pot with a heating coil located at the bottom. The first commonly available cooker was created by Toshiba in 1956. The unit had two chambers that used indirect heat and was able to turn off automatically when the rice was finished cooking. At the time, Toshiba produced over 200,000 rice cookers monthly, making it a quintessential Japanese kitchen appliance.