The Takashimaya store, with 40,000 square metres of retail space in the fashionable Gubei suburb, will be one of the city's largest department stores. The company said the store, which will cover eight floors, will cost about Y4bn ($41.7m) to open and will target Shanghai's large population of wealthy shoppers.
About 48,000 Japanese live in Shanghai, according to the consulate, though removals companies say there has been an increase in people returning home due to the economic crisis. Several US retailers are also understood to be planning to enter the Chinese market.
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