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Kyoto, Nara, Hokkaido, Ginza, Asakusa, and Akihabara are just some of the various tourist destinations in Japan. Many non-Japanese, including Australians and Canadians, are now playing an increasingly vital role in introducing these local attractions to people from around the world. In Hokkaido, an Australian investor has succeeded in luring foreign visitors to a ski resort he acquired and redesigned. Another Australian has been developing and selling condominiums, targeting non-Japanese buyers. Meanwhile, a Canadian tourism consultant is taking a creative approach in bringing foreign tourists to a World Heritage Site that is little known outside Japan. In our latest report, we look at the efforts of these individual tourism ambassadors, who are raising the profile of Japan tourism.
[Newsmaker]
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Japanese retailers have suffered amid the recent consumption downturn and persistent deflation. However, even in these unfavorable conditions, some businesses have been able to increase sales and profits and have come to be known as "deflation beaters". Among them is Japan's biggest furniture and home goods retailer, Nitori Co., Ltd. Originally a small furniture shop in Hokkaido, Nitori has expanded into a chain of over 200 stores by outpricing its competitors by an average 30 percent. The company has also succeeded in growing sales and profits for 22 consecutive years. We talked with its president, Akio Nitori, about how his company strikes a balance between low prices and quality, and the key to raising the bottom line during a consumer downturn.
[The Afternote]
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Visiting the Niseko skiing resort in northern Japan for this report, I was quite surprised to see the overwhelming number of tourists from abroad. It was extremely interesting to see the difference in how they view and appreciate the area, compared to the average Japanese visitor. Niseko is known for its great powder snow, and while many Japanese visitors tend to stay indoors when the weather sours, skiers from abroad tend to hit the slopes the more it snows. The area is known for one of the heaviest snowfalls in Japan, and for the locals, shuttering their houses to keep out the cold is their top priority. But, in contrast, an Australian entrepreneur has been highly successful in building condominiums with floor-to-ceiling windows in every room, saying that the scenery is one of the area's strongest sales points. I truly felt it was through the eyes of such people from outside Japan that will help us rediscover the enjoyment and beauty local areas have to offer. And that will ultimately make Japan more attractive as a tourist destination.
Mr. Nitori knows by heart every item in his vast arsenal of furniture. For this report, he enthusiastically guided us through row after row of sofas, shelves and dining tables, telling us where and from what material the item was made, its price, and even what month it was put on sale! He says only by keeping track of such details can they constantly "lower prices", which is also their company slogan. He told us frankly that the current deflation in Japan was actually giving a boost to his business. However, he hasn't changed his belief that "lower prices make shopping more enjoyable" since first starting out as a small furniture store in northern Japan and is continuing to pursue that philosophy. (Makiko Utsuda)
Air Dates
jibtv (UTC): 2010/1/29(Fri) 00:30 / 4:30 / 8:30 / 12:30 / 16:30 / 20:30
NIKKEI CNBC (JPN): 2010/1/30(Sat) 09:00,2010/1/31(Sun) 22:00,2010/2/4(Thu) 21:00,2010/2/5(Fri) 21:00
CNBC Asia (SIN/HK): 2010/1/31(Sun) 10:00 / 20:30
BS Japan (JPN): 2010/2/12(Fri) 04:45
"NIKKEI Japan Report" is produced by NIKKEI(Nihon Keizai Shimbun) and is an English-language, economic news program broadcast worldwide, focusing on "the Japanese economy's current state and future possibilities". The program is carried by Japan International Broadcasting Inc. (jibtv), CNBC Asia, and NIKKEI CNBC, and airs in various regions, including Europe, the Americas, Asia, Oceania, the Middle East, and Japan.
The program is structured into three segments - "Today's Pick", "Newsmaker", and "Japan by Numbers".
[Today's Pick]
Reporting on the latest trends with a focus on the "underlying strengths" of the Japanese economy, this segment will introduce multinational corporations and small, local factories that possess world-class technologies as well as offer unique, Japan-born products and services.
[Newsmaker]
Leaders of major Japanese companies and key economic and financial policy makers are interviewed on business strategies and success formulas, as they assess the future direction of the Japanese economy.
[Japan by Numbers]
Using statistical data, a macroeconomic expert explains the linkage between the current Japanese market and the global economy.
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