Seibu Yurakucho closes as department store revenues hit 26-year low

Seibu Yurakucho to close in late 2010

Seibu, once the most trendsetting department stores, has hit hard times. Current owners Seven & I Holdings have decided to close the Yurakucho branch near Ginza within the year due to lagging sales. 

Department store revenues in Japan have seen 14 consecutive years of decline, and 2009 saw net sales hit a 26 year-low.

One problem is ubiquity: There are just too many department stores in Tokyo. Even when Seibu closes, Yurakucho will still have Hankyu, plus shopping building Marui. Matsuya and Matsuzakaya are also located a five minute walk away in Ginza proper.

In other news

Dozens of college students protest corporate recruiting system: Many university students are starting to doubt the fairness of the shushoku katsudo college employment system. But in good Japanese manner, other students are adamant that trying to change things or voice opposition is completely futile.

Niigata Prefecture figures out how to save its economy: The answer is James Cameron. If "Avatar" succeeds, that means more 3-D films and more sales of display film.

Japanese bookshops are disappearing: There has been a 29% reduction of bookshops across Japan in the last decade. If you want to read more on the topic, we suggest ordering some books from Amazon Japan.