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Business

Isetan Mitsukoshi plans commercial complex in Philippines

Isetan Mitsukoshi Holdings plans to seek growth elsewhere amid a shrinking domestic market.

TOKYO -- Japanese department store operator Isetan Mitsukoshi Holdings will work with compatriot Nomura Real Estate Holdings to develop commercial-residential facilities in the Philippines. 

The property will be built in a suburb of the capital, Manila, and is slated for partial opening as early as 2022. Project costs are seen totaling around 50 billion yen ($497 million). 

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