INTERVIEW: Takashimaya Considering Overseas Expansion
Tokyo, May 8 (Jiji Press)--Major Japanese department store chain Takashimaya Co. <8233> plans to strengthen its overseas operations, especially in Southeast Asia where it sees promise for growth, Takashimaya President Yoshio Murata said in a recent interview.
The department store chain currently has outlets in Singapore, Ho Chi Minh City, Bangkok and Shanghai. While Murata noted that "raising the profitability of the four stores is the first step," he also said that opening new stores in Indonesia, Malaysia and the Philippines could be an option.
"As long as there are good conditions, (additional locations) are entirely possible," the company president said.
Murata said that Takashimaya's domestic business, hampered by the aging population and the declining birthrate, is not all smooth sailing and that he will push forward with structural reforms.
"This year will be a crucial one in determining whether (the company's domestic operations) can survive," he said.
[Copyright The Jiji Press, Ltd.]