JR Tokai Group, one of Japan’s major railroad operators, announced on April 5 that it has partnered with Hyatt Hotels, a major U.S. hotel company, to develop its first luxury hotel, Hotel Nei Nara. The hotel will be part of Hyatt’s “Unbound Collection by Hyatt” luxury brand, aiming to attract inbound guests, especially from Europe, […]
The number of overseas travelers from Japan is expected to increase due to the nine-day weekend in the year-end and New Year holiday season (the miraculous nine-day weekend), according to various travel agencies. According to a survey by JTB, the number is expected to reach 520,000, up 13% from the previous year, which was the […]
Matsuya Ginza, a department store operator in Ginza, Tokyo, announced on November 27 that it has launched a new e-commerce site, “matsuyaginza.com” to realize OMO (Online Merges with Offline). The new digital platform will allow customers to access a luxury product lineup from around the world, including brands that have stores in Matsuya Ginza as […]
According to preliminary November sales figures released by four major department store operators, all of them posted year-on-year increases. Isetan Mitsukoshi Holdings Ltd. posted a 10.4% y-o-y sales increase, J. Front Retailing (total of department store operations) a 7.6% increase, H2O Retailing (total of all Hankyu Hanshin department stores) a 5.8% increase, and Takashimaya stores […]
Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial groups, announced on November 29 that it will acquire WealthNavi, Japan’s largest robo-advisor provider of discretionary investment services. In Japan, the government has been promoting the realization of an asset management nation, and new initiatives such as the small amount investment tax exemption (NISA; […]
Okinawa Prefecture has announced that it will introduce a “lodging tax” to be levied on hotel and inn guests in the prefecture. The prefecture expects to receive approximately 7.8 billion yen (about 50M USD) annually from the lodging tax, with the aim of securing a stable source of revenue for tourism-related policies. This will be […]
More and more men, especially young men, are using cosmetics in Japan. According to a market research firm, the size of the men’s cosmetics market in Japan has grown to 43.3 billion JPY by 2023; compared to its size in 2017, it has expanded 1.74 times over the past six years and is expected to […]
The used smartphone market continues to expand, growing to account for 10% of smartphone sales in Japan. According to MM Research Institute, a private research firm, the number of used smartphones sold in 2023 reached a record high of 2,728,000 units, up 16.6% from the previous year. This figure accounts for 9.7% of all smartphone […]
Major manufacturers of household goods and food products are focusing their attention on the growing market for high-end pet supplies in Japan. In recent years, more and more people in Japan consider their pets to be members of the family and want to choose healthy food and high-quality furniture for their pets, even if they […]
The average price per unit of a new condominium in Tokyo’s 23 wards exceeded 100 million JPY (approximately 650K USD) for the sixth consecutive month. The average price per unit in Tokyo’s 23 wards rose 48.6% year-on-year to 129.4 million JPY in October, the Real Estate Economic Institute announced on November 20. The number of […]