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 […]
The “Black Friday” sales that have been introduced in supermarkets in Japan are now being introduced in department stores as well. “Black Friday” was originally a large-scale sale held toward the end of November in the U.S., but in recent years, Japanese retailers have begun to introduce the concept as well. Sogo & Seibu, one […]
Beaujolais Nouveau, a new French wine, was released for sale on November 21. Import costs rose due to the weak yen and high fuel prices, but there was a noticeable trend among importers to keep prices unchanged due to sluggish demand. It is said that the import cost of Beaujolais has risen 5% from the […]
Marriott International, Inc. opened its first business hotel in Japan, Four Points Flex by Sheraton Osaka Umeda, in Osaka City on November 18. Four Points Flex by Sheraton is Marriott’s first business hotel brand and the first to open in the Asia-Pacific region. The hotel will offer accommodation services at an affordable price range for […]
The number of cases in which customs offices across Japan stopped the import of counterfeit brand goods in the six months through June of this year was the highest for this time of year. According to the Ministry of Finance, customs offices across Japan detained 18,153 cases of counterfeit brand goods from January to June […]
Japan’s GDP (Gross Domestic Product) from July to September 2024, announced by the Cabinet Office, showed positive growth for the second consecutive quarter. In real terms, excluding price changes, it was up 0.2% from the previous quarter, or 0.9% on an annualized basis. Personal consumption, which accounts for more than half of GDP, was plus […]
Komehyo, a major reuse company which deals with luxury brand products, will open a new store along Ginza Chuo-dori on January 19. KOMEHYO Ginza Store, which has been operating in Ginza 5-chome since 2011, has been relocated. By opening a store in an area where many luxury brand flagship stores are located, the company aims […]
In April, Bulgari Hotel Tokyo, an affiliate of the luxury Italian jewelry brand, will open its first Japanese branch in the 39th to 45th floors of Tokyo Midtown Yaesu, a high-rise building near Tokyo Station. The hotel is expected to offer the highest accommodation rates in Japan, aiming to attract wealthy people from Japan and […]
All four major department stores in Japan announced significant increases in same-store sales for September. Overall sales were boosted by the easing of covid-19 action restrictions this year, as well as continued strong demand for luxury brands and jewelry. Sales of fall/winter clothing were also strong for both men and women. Isetan Mitsukoshi HD posted […]
While domestic consumption of sake has cooled, sake exports from Japan are on the rise, with the volume and value of sake exports reaching record highs in 2021. In particular, the growth in consumption of high-end sake is remarkable. Sake is an alcoholic beverage of Japanese origin made by fermenting rice that has been polished […]