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Business

Japanese companies stoked for China's Singles Day

Some have prepped for months for world's biggest online shopping day

Shiseido is looking to significantly increase sales on China's Singles Day.   © Reuters

TOKYO -- Many Japanese makers of consumer goods are positioning themselves to cash in on China's Singles Day, as the Nov. 11 holiday for celebrating the single life has morphed into an online shopping extravaganza in recent years.

Major Chinese e-commerce company Alibaba Group Holding processed roughly 120 billion yuan ($18 billion in today's exchange rate) worth of online transactions on Singles Day last year. Japanese brands of cosmetics and other consumer goods proved to be extremely popular. Some Japanese companies garnered sales of tens of millions of dollars on that day alone.

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