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Takashimaya to close Shanghai store, pulling out of China

Japanese retailer shifts to Southeast Asia amid trade war and online onslaught

Even after the impending close of its money-losing Shanghai store, Takashimaya will continue its overseas push.

TOKYO -- Japanese department store chain Takashimaya will close its flagship store in Shanghai in August and halt its operations in China, Nikkei has learned.

The store has been losing money and the Osaka-based company decided it would be difficult to turn the business around as private consumption has slowed in China amid the trade war with the U.S.

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