Seibu & Sogo announced that it will close its Seibu Shibuya store in September, bringing an end to the 58-year history of what was once a symbol of the district and marking the disappearance of traditional department stores from Shibuya. (News On Japan)

Italian furniture exports to Japan have grown steadily for over a decade, but this growth has not been driven by aggressive retail expansion. (News On Japan)

As the impact of the effective closure of the Strait of Hormuz spreads, the government announced it will begin releasing national oil reserves from 11 bases across the country starting March 26th, in a move aimed at minimizing disruption to economic activity. (News On Japan)

Japan’s nationwide consumer price index rose 1.6 percent in February from a year earlier, marking the first time in nearly four years that the rate has fallen below 2 percent, largely due to the abolition of a temporary gasoline tax rate and the impact of government subsidies. (News On Japan)