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Business

Isetan Mitsukoshi to open duty-free shop in heart of Fukuoka

TOKYO -- Isetan Mitsukoshi Holdings will collaborate with two other Japanese companies to open a duty-free shop inside its department store in Fukuoka by April 2016.

     The partners are Nishi-Nippon Railroad, known as Nishitetsu, and Fukuoka Airport Building, operator of the terminal buildings at Fukuoka Airport.

     To be located inside Fukuoka Mitsukoshi, the store will be the first in any urban center in the southern Japanese region of Kyushu that is set up just like the duty-free shops found inside airports, with a range of goods including jewelry, clothing and alcoholic beverages, all sold completely free of taxes and import duties.

     Visitors to Japan who purchase items at the store can pick them up after they have gone through the embarkation procedure for international flights at airports.

     The three partners soon will set up a joint venture to operate the store, held 10% by Isetan Mitsukoshi, 30% by Nishitetsu, and 60% by Fukuoka Airport Building, which will also oversee store operations.

     In addition, Isetan Mitsukoshi is planning to set up a similar business with Japan Airport Terminal, operator of the Haneda Airport terminal buildings, to open a duty-free store inside Ginza Mitsukoshi in the heart of Tokyo.

(Nikkei)

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