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Nikkei Asia
3 days ago
- Business
- Nikkei Asia
Big drop in tourist tax-free spending signals sluggish days ahead for Japan
Tokyo's time-honored Isetan Shinjuku department store. The emporium's operator has introduced a smartphone app for overseas customers, providing discount coupons as well as information about its outlets in English, Chinese and Korean. (Photo by Makoto Okada) YURIKA YONEDA TOKYO -- Japanese department store sales have been slowing in recent months amid signs that one well-heeled segment of shoppers is losing its appetite for lavish spending, partly due to the knock-on effects of U.S. President Donald Trump's tariff blitz. In June, department store sales fell 7.8% year-on-year to 461.5 billion yen ($3.1 billion). The decline was attributable to a 40.6% plunge in tax-free shopping by foreign visitors, to 39.2 billion yen, according to data released Friday by the Japan Department Stores Association.
Nikkei Asia
3 days ago
- Business
- Nikkei Asia
Big drop in tourist spending signals sluggish days ahead for Japan
Tokyo's time-honored Isetan Shinjuku department store. The emporium's operator has introduced a smartphone app for overseas customers, providing discount coupons as well as information about its outlets in English, Chinese and Korean. (Photo by Makoto Okada) YURIKA YONEDA TOKYO -- Japanese department store sales have been slowing in recent months amid signs that one well-heeled segment of shoppers is losing its appetite for lavish spending, partly due to the knock-on effects of U.S. President Donald Trump's tariff blitz. In June, department store sales fell 7.8% year-on-year to 461.5 billion yen ($3.1 billion). The decline was attributable to a 40.6% plunge in tax-free shopping by foreign visitors, to 39.2 billion yen, according to data released Friday by the Japan Department Stores Association.
Nikkei Asia
10-07-2025
- Business
- Nikkei Asia
Japan's Kirin to expand drinks sales in Taiwan and South Korea
Kirin Brewery President Hideki Horiguchi speaks during an interview on July 4 in Tokyo. A full-scale rollout of the Harekaze beer brand in Taiwan is planned if a three-month trial proves satisfactory, he said. (Photo by Yukinori Okamura) YURIKA YONEDA TOKYO -- Kirin Brewery rolled out a trial of a recently-developed beer brand in Taiwan on Wednesday, as the Japanese drinks group tries to expand beyond its home market which is in decline as the population shrinks. Taiwan will be the first market outside Japan to sell Harekaze beer, a brand launched in April 2024 that Kirin says is popular with consumers who do not normally drink beer.
