TOKYO—Isetan Mitsukoshi Holdings Ltd. said Thursday it will close six of its department stores in Japan, underscoring the weakness of consumer goods market in the island nation.
Isetan Co. and Mitsukoshi Ltd. merged earlier this year to become the country’s largest department store operator. In May of next year, it will shutter a Mitsukoshi in the busy shopping neighborhood of Ikebukuro in northwest Tokyo and subsequently sell the spot to a real estate investment trust for 75 billion yen, or $709 million. It will also close another five Mitsukoshi stores elsewhere in Japan in the spring of next year.
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