Amid a nationwide trend of retail closures, Japan s department store sector has achieved record profits, particularly bolstered by the influx of foreign tourists, fueled by a favorable exchange rate.
Amid a nationwide trend of retail closures, Japan s department store sector has achieved record profits, particularly bolstered by the influx of foreign tourists, fueled by a favorable exchange rate.
Since 2008, about a third of department stores in Japan have closed down, with Ichibata in Shimane the latest to shut its doors, leaving four prefectures in Japan without any department stores at all.