ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Where did the middle class go?

Isetan Mitsukoshi head Hiroshi Ohnishi, right, and Adaro Energy CEO Garibaldi Thohir attend a panel discussion in Bangkok on Oct. 7.

BANGKOK -- The rise of an Asian middle class with higher disposable incomes was supposed to be a bonanza for retailers. Yet Japan's leading department store operator, Isetan Mitsukoshi Holdings, is not seeing the kind of sales it was expecting from its shops in China, Singapore, Malaysia, Thailand and Taiwan.

"The middle class is growing. But they aren't purchasing in ways that we thought they would," Hiroshi Ohnishi, the group's president and CEO, said Friday at a business conference in Bangkok hosted by the Nikkei Asian Review.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more