Tourism and price hikes send Japan retail profits to post-COVID highs

Quarterly earnings up despite relatively weak domestic consumer spending

20240112N Japan department store

Foreign tourists shop at a Tokyo department store. (Photo by Kosuke Imamura)

KYOKA OMICHI, Nikkei staff writer

TOKYO -- Major Japanese retailers in September-November enjoyed their most profitable quarter since the global spread of COVID-19, buoyed by price hikes and a recovery in inbound tourism, a Nikkei analysis found.

The combined operating profit of 79 major companies that announced results for the period rose 16% on the year to 540.4 billion yen ($3.7 billion).

Sponsored Content

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