News On Japan

Chinese cash keeps Japan's struggling hot spring resorts bubbling

May 13 (South China Morning Post) - An exodus of money from China has turned into a lifeline for cash-strapped inns and hotels fighting to survive after years of Covid curbs

Overseas buyers made up almost half of Japanese hotel deals that closed in the year to March, according to MSCI Real Assets. High-profile hotels such as the Rihga Royal Hotel in Osaka and the Tokyo Hyatt Regency are among the assets that have changed hands recently.

Japan’s tourism industry enjoyed a steady boom from 2012 until the pandemic, as the government sought to attract inbound tourists and the yen weakened. Many traditional ryokan, however, have struggled to attract enough foreign visitors to stay afloat as they fell behind more modern hotels in adapting to things like online bookings or multilingual services, while holding on to other traditions.

Many ryokan for example serve fixed-menu meals in the guest’s room as part of a rigid package – a custom that some, including the Atami Pearl Star, are starting to rethink. Offering food and accommodation separately gives guests more freedom, while area residents or day trippers can enjoy meals without needing to spend the night.

The predicted influx of Chinese investment into Japan also comes as rich individuals increasingly explore the country as a place to invest or even live. ...continue reading

News On Japan
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Pan Pacific International Holdings, the operator of Don Quijote, has announced its entry into the low-cost SIM card market. The company will offer plans starting at 770 yen per month for 3GB, using NTT Docomo’s network.

Ricoh announced on September 12th that it will reduce its workforce by approximately 2,000 employees globally by March 2025. With the market for office equipment shrinking due to the advancement of digitalization, the company plans to restructure its overseas sales and service operations while focusing its management resources on supporting digital transformation (DX).

A Bank of Japan policy board member has signaled that the central bank should raise its short-term interest rate to at least around one percent in stages for price stability. (NHK)

Hair salon bankruptcies in Japan are on the rise, with 139 cases recorded between January and August 2024, a significant increase from previous years. Factors such as rising competition, material costs, and labor expenses are contributing to this surge. Despite these challenges, some salons are finding ways to thrive by adopting cost-effective strategies.

Foreign influencers are sparking fierce competition as they quickly sell Japanese gold jewelry using nothing more than a smartphone.

The announcement of the iPhone 16 has sent sellers flocking to the second-hand iPhone market in Japan, with iPhones 12 and 13 going for less than half the price of a new model.

Japanese firm Smile-Up., formerly known as Johnny & Associates, says representative director Fujishima Julie has stepped down from executive posts of its affiliated firms. (NHK)

Bookstores across Japan continue to close, and publishers are facing equally harsh business conditions. According to private research firm Teikoku Databank, 36.2% of publishers posted losses last fiscal year, the highest percentage in the past 20 years.