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Isetan Mitsukoshi's overseas retreat quickens with China closure

No plans to relocate Chengdu emporium as landlord decides to sell property

The Chengdu Isetan store in China's Sichuan Province will close for good at the end of December. (Photo by Shunsuke Tabeta)

TOKYO -- Japanese department store operator Isetan Mitsukoshi Holdings will close its Chengdu Isetan store in China's Sichuan Province at the end of December, Nikkei has learned.

The owner of the land and building has decided to sell the property. There are no plans to relocate the store, and approximately 430 million yen ($3.2 million) in impairment losses related to its closure have been recorded in the consolidated financial statements for the fiscal year ending March 2022. Employees and other related parties have been notified.

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