In Japan, a large U.S. export market, there has been growing public opposition against genetically modified (GM) foods. Using a dichotomous choice contingent valuation method, findings show the discount needed for Japanese Seikyou consumers to purchase GM food products is positively affected (i.e., a greater discount is required) by higher levels of self-reported risk perceptions toward GM food, higher levels of concern about food safety and the environment, higher self-reported knowledge about biotechnology, education levels, and income. Interestingly, gender does not significantly affect the discount needed for GM food. Further, it can be inferred from the results that a transformation of Japanese consumers’ perceptions and attitudes is needed for GM food products to successfully enter the Japanese market.