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TOKYO -- Japanese department
store chain Takashimaya will
shutter its flagship location in
Shanghai
this August and halt
Chinese operations.
The 40,000-sq.-meter store,
catering to well-off locals,
has been losing
money, and the
Osaka-based company deemed a turnaround difficult as
private consumption has slowed in
China amid the trade war with the
U.S.
The focus of overseas operations
will now shift to Southeast Asia, a
region Takashimaya sees as more promising.
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