By and  on February 23, 2009

TOKYO — Japanese department store operator Takashimaya Co. Ltd. said Tuesday it will open a flagship in Shanghai in 2012, marking its entry into the Chinese retail market.

The store will cover 430,560 square feet of retail space over eight levels. The Japanese company will work with a Chinese property developer to open the store in a residential area on the western side of the city. The investment will total about 4 billion yen, or $42.73 million at current exchange, Takashimaya said.

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