News On Japan

Shimane's Sole 'Departo' Closes After 65 Years, Leaving Four Prefectures Without Department Stores

TOKYO - 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.

There were 280 department stores throughout Japan in 2008, but that number has dropped to just 180 as of November last year.

Ichibata Department Store closed its doors on Sunday, marking the end of a 65-year history, and a sign of a changing consumer environment.

With the closure of other 'departo' such as Onuma Yamagata Main Store, Sogo Tokushima Store, and Gifu Takashimaya, four prefectures are now without a single department store.

The question arises: why are department stores closing nationwide?

Consumer economy analyst Hiroaki Watanabe suggests, "Shopping malls have emerged, offering a wider variety of products than department stores in front of stations, attracting customers. The rise of internet shopping in recent years has also contributed."

In their wake, new commercial facilities are being opened as part of the redevelopment around train stations.

'Nagasaki Stadium City,' scheduled to open near JR Nagasaki Station, will include a soccer stadium, a basketball arena, and also commercial real estate and hotels, offering music concerts, created by the e-commerce giant 'Japanet.'

In Tokyo, the 'Toyosu Senkyakubanrai,' opening Feb 1, will feature an open-air bath with a 24-hour view of Tokyo Bay and restaurants utilizing its location next to the Toyosu Market.

Source: ANNnewsCH

News On Japan
POPULAR NEWS

Toyota Motor will begin operating fully autonomous taxis in 2027 through a partnership with U.S. self-driving technology company Waymo, marking a major step in the Japanese automaker's efforts to expand driverless transportation services.

Mount Fuji has received its first snowcap of the season, the Japan Meteorological Agency announced on October 30, after temperatures at the summit plunged to minus 9.4 degrees Celsius, marking the arrival of winter conditions on Japan's highest mountain.

U.S. intelligence agencies suspect that a Chinese female intelligence operative developed a close relationship with Nvidia CEO Jensen Huang in an attempt to obtain confidential corporate and U.S. government information, according to a report published by The New York Times on October 29th.

The Japanese government has asked major telecommunications operators to forcibly block access to websites believed to contain personal information stolen in a cyberattack on GMO, it emerged on October 29th, as authorities moved to prevent further exposure of sensitive data online.

Typhoon No. 31 was located near Minamitorishima Island in the Pacific Ocean, as of 3 a.m. on October 30, and was expected to approach the Ogasawara Islands south of Tokyo over the October 31-November 1 weekend while maintaining very strong intensity, bringing a growing risk of dangerously high waves, powerful swells and extremely rough seas.

MEDIA CHANNELS
         

MORE Business NEWS

A series of cyberattacks has exposed millions of personal records belonging to customers of major Japanese companies, including Muji, Matsuya and All Nippon Airways, as well as individuals connected to the Foreign Ministry, while cybersecurity experts investigating a separate attack involving GMO say a serious mistake by the hackers may provide crucial clues to their identities.

Japan's furniture and home goods retailer Nitori opened what it describes as its largest store in the world on October 30th in Osaka's Chayamachi district, bringing a major new retail destination to an area east of Hankyu Osaka-Umeda Station known for its youth culture, fashion boutiques, and specialty shops.

Japan's Nikkei 225 Stock Average plunged 1,369.36 points, or 2.12%, to close at 63,290.11 at 3:30 p.m. on Friday, October 30, ending a three-day winning streak as a sharp selloff in semiconductor and artificial intelligence-related shares swept through the Tokyo market, while the Bank of Japan's decision to leave interest rates unchanged failed to restore investor confidence.

The Bank of Japan announced on October 30th that underlying inflation has effectively reached its 2% target for the first time since the goal was introduced in 2013, marking a major milestone in the country's efforts to achieve sustained price growth, while keeping its benchmark interest rate unchanged at 1.25% as policymakers assess the impact of last month's rate increase.

Halloween celebrations across Japan are becoming increasingly expensive as October 31 approaches, with costume prices nearly doubling over the past five years and the average spending budget rising to 8,148 yen, prompting more people to find creative ways to enjoy the annual event without stretching their finances.

Hands Shibuya, one of Tokyo's best-known variety stores, will close on November 15 after 48 years in business, bringing an end to a shopping destination famous for its enormous selection of innovative household goods, stationery and unusual gadgets, with around 100,000 products still filling its shelves in the final weeks before closure.

Tokyo stocks extended their recovery on Thursday, October 29, with the Nikkei 225 closing at 64,659.47 points at 3:30 p.m., up 705.28 points, or 1.10%, from the previous session, as renewed buying of semiconductor and artificial intelligence-related shares helped the benchmark record its third consecutive daily gain ahead of the Bank of Japan's monetary policy decision.

GMO has announced a reward totaling approximately 150 million yen for information leading to the identification of hackers responsible for a cyberattack on its systems, while also pledging compensation to customers whose personal information has been exposed, as Japan faces a growing wave of cyberattacks targeting major companies.