ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Retail

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more