By  on June 20, 2018

As the Japanese population ages and declines and the economy weakens, Hiroshi Onishi, former chief executive officer and president of Isetan Mitsukoshi Holdings Ltd., believes that innovation is needed to change society and create a new environment for growing Japanese businesses, while also motivating younger generations.

Department store spending in Japan has stalled over the years. “The overall market size has remained almost unchanged at $1.3 trillion to $1.5 trillion for some time. Consumption is important for each economy; of course, we need to have a solution to this,” said Onishi.

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