TOKYO, Nov 17 — Japanese tourism and retail-related stocks slumped on Monday as China warned citizens against traveling to and studying in Japan amid diplomatic tensions, following Japanese Prime Minister Sanae Takaichi’s provocative remarks on the Taiwan question.
The stock price of cosmetics firm Shiseido plunged as much as 11.4 percent on Monday, while Kose Corp’s plunge once hit 3 percent. Share price of retail store Don Quijote’s operator Pan Pacific International Holdings was down by as much as 9.7 percent, which Bloomberg said the decline was “the most since August 2024.” Garment brand Uniqlo’s parent company Fast Retailing lost 6.9 percent at the most on Monday, as of press time.
Department store operator Isetan Mitsukoshi’s stock price was also down by as much as 12 percent, while other department store operators also saw decline in share prices, including Takashimaya Co. and J Front Retailing Co., which lost over 6 percent, respectively, according to Bloomberg.
Apart from retail sector, tourism-related stocks also plunged. For example, amusement park Tokyo Disney Resort operator Oriental Land Co. witnessed a 5 percent plunge.
Transportation operators were also hit. The share price lost of Airline ANA Holdings Inc. hit as much as 3.8 percent. Central Japan Railway Co was down by about 3 percent and Japan Airlines Co was down by about 4 percent as of pres time.
As for accommodation, hotel chain firm Kyoritsu Maintenance Co. was down as much as 8.9 percent.
In the latest quarter ended September, tourists from the Chinese mainland were the top spenders among all foreign visitors, accounting for around 27 percent in total inbound consumption, according to the Japan Tourism Agency, Bloomberg reported.
Chinese Foreign Ministry and Chinese Embassy and Consulates in Japan issued a travel reminder on Friday, advising Chinese nationals to refrain from traveling to Japan in the near future, given the multiple criminal offenses and incidents of attacks against Chinese nationals in Japan this year, coupled with Japanese Prime Minister Sanae Takaichi’s erroneous remarks concerning the Taiwan Straits that have severely undermined the atmosphere for China-Japan personnel exchanges.
And on Sunday, China’s Ministry of Education issued study abroad warning, reminding Chinese nationals to carefully plan study arrangements to Japan.
On the same day, the Ministry of Culture and Tourism also issued a travel notice for Chinese tourists. – Global Times
