JV to open duty free store

Department store operator Isetan Mitsukoshi is expanding into the duty-free business.

It has entered into a JV agreement with NAA Retailing Corp and Japan Airport Terminal Co to open duty free stores, the first at Isetan’s flagship in Tokyo’s Ginza district.

The 3300sqm duty free Ginza on the eighth floor of the Ginza Mitsukoshi department store will open next fall.

“Japan is promoting and strengthening tourism promotion policies (to attract more tourists), and I think this kind of tax-free store in the metropolitan area will form part of an infrastructure to serve visitors,” said Japan Airport Terminal President Isao Takashiro.

The JV has a capital of US$10 million.

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