SHANGHAI/TOKYO -- Japanese department store Takashimaya was on the verge of becoming the latest foreign retailer to withdraw from the Chinese market, following such others as French grocery chain Carrefour, until Shanghai offered incentives to convince it to stay.
Takashimaya announced its U-turn just two days before the planned closing of its money-losing Shanghai outlet last month, after it had held clearance sales and put up notices in three languages.
