Retail in Asia

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Japan: Department stores race to year-end sales

Major department stores in Japan launched aggressive end-of-year sales campaigns Friday in an attempt to beat deflation and the recession and sustain good business into the New Year holidays.

For five days from Friday, Sogo & Seibu Co., a department-store operator under Seven & I Holdings, will hand out JPY250 coupons in exchange for JPY5,000 worth of purchases of food and other products. The company used a similar sales tactic earlier this month, offering JPY500 coupons for clothing purchases.