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Tag: Japan

  • Shiseido celebrates the re-launch of Clé de Peau Beauté

    Shiseido celebrates the re-launch of Clé de Peau Beauté

    Shiseido Travel Retail has celebrated the relaunch of luxury brand, Clé de Peau Beauté with ‘A Radiant Day’ campaign, fronted by new global Ambassador – Academy Award-Nominated British actress, Felicity Jones.

    The campaign coincides with the introduction of Clé de Peau Beauté’s beauty products to its current travel retail offering. Clé de Peau Beauté has remained a top performing brand for Shiseido Travel Retail, up +120% on FY2017 and representing around 25% of total sales globally, according to the company.

    Asia Pacific and Chinese travellers a key growth driver for the brand. The re-launch will be promoted via an extensive strategic marketing campaign, with premium out-of-home advertising across Hong Kong International Airport already under way.

    A new flagship counter design will also be unveiled in April at T Galleria by DFS, Macau, Shoppes at Four Seasons, providing more engaging and meaningful shopping experiences for Clé de Peau Beauté customers. The aim is to roll out the new design across all travel retail counters in the second half of 2018.

    LOS ANGELES, CA – JANUARY 17: A general view of atmosphere at Cle de Peau Beaute Celebrates the Brand Relaunch with a Global Event in Los Angeles, hosted by Global Brand Face Felicity Jones at Hotel Bel-Air on January 17, 2018 in Los Angeles, California. (Photo by Stefanie Keenan/Getty Images for Shiseido)

    REVITALISED DNA

    With a revitalised brand DNA, “Intelligent, Uncompromising, Exquisite”, and a refreshed new tag line, “Unlock the Power of Your Radiance”, Clé de Peau Beauté has set its sights on becoming a global, luxury brand by 2020.

    Establishing a suite of new universal values – integrity, balance and authenticity, the brand’s newly appointed brand ambassador, Jones, reflects these seamlessly, the company said. Clé de Peau Beauté Chief Brand Officer Yukari Suzuki indicated a crucial element of Clé de Peau Beauté was to help customers feel the brand belonged in their lives.


    Lip Gloss - Dreamstone (High-res)NEW SS18 PRODUCTS

    The relaunch also introduces various new luxury SS18 products to Clé de Peau Beauté’s current travel retail offering. These include the Firming Serum Supreme, a clinically proven formula to unlock a new dimension of skin firmness, Radiant Lip Gloss (pictured left) a new and improved version of the brand’s original lip gloss; three new shades of Lipstick including Peach Stone, Crystal Star and Desert Rose; a new shade of Luminising Face Enhancer in lavender inspired by the spiral of a luminescent seashell; and a new take on its stick Concealer with new skincare ingredients for radiant skin.

    There is also focus on La Créme, a product Shiseido said continued to stand at the pinnacle of Clé de Peau Beauté skincare.

    ‘A Radiant Day’ has already achieved success following the official event launch with Jones, last month at The Beverly Hills Hotel in LA, along with new counter openings in MGM Macau, MGM Cotai and T Galleria by DFS Singapore.

    EXCITING TIME

    Shiseido Travel Retail Vice-President Marketing Elisabeth Jouguelet commented: “This is an exciting time for Clé de Peau Beauté as we look to establish the brand as a true market leader in luxury beauty.

    “The relaunch provides an opportunity for us to enhance the brand’s travel retail offering and solidify its position in the market as a prestigious, but accessible brand. All the elements of the relaunch, from taking on Felicity Jones as our global ambassador, to opening flagship stores in Asia Pacific, are part of a long-term strategy to draw our consumers in further; to offer them memorable, luxury experiences beyond the traditional sense of retail. We are looking forward to a new era for Clé de Peau Beauté.”

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  • Ril Creed launches in Hong Kong

    Ril Creed launches in Hong Kong

    RIL CREED’s collection of sustainable and ethical Japanese handbags opens its first flagship boutique in Hong Kong.

    Launched in 2012 in Japan and 2014 in Hong Kong, The Japanese handbag label RIL CREED is designed by Hanada Kazue, a seasoned designer who has been the design chief at the coveted Kitson Japan.

    With over two decades of experience, Kazue’s designs are made for the modern working women on the go. Using only fine genuine leather, with on-trend colours and versatile designs, each of RIL CREED’s handbags are made for every smart-casual occasion.

    Made to empower every modern women, each RIL CREED handbag is designed in Tokyo and handmade by artisans with age old craftsmanship. With a vision to revolutionize the handbag industry by using sustainable, upcycled materials and encouraging women to see beyond luxury items, RIL CREED redefines handbags as a tool to collect experiences and a companion in women’s journey to change the world.

    RIL CREED’s latest collection is inspired by owls, a spirited animal that symbolizes a deep connection, intuition, and wisdom of the soul. It represents change, transformation, and clarity. The brand aims to empower women through efforts to use sustainable materials and offcuts from factories. This season, upcycled sheepskin, faux fur and suede has been transformed into clean, elegant and effortless designs.

    Born in the 1970s, Hanada Kazue is Chief Designer of one of Japan’s most sought-after handbag brands, RIL CREED. Previously the design chief at Kitson Japan, Hanada has a deep understanding of what a woman needs when it comes to handbags. She has designed some of the bestsellers for the JAYRO, Kitson and Julia Parker labels, and brings to RIL CREED her renowned expertise.

    A seasoned handbag designer with over 20 years of experience, Hanada has created a beautiful, smart-casual collection for RIL CREED using only the finest genuine leather and horsetail in a variety of on-season, contemporary colours.

    These fashionable and practical designs from Hanada have been extremely popular amongst professional women in Japan and California, and have now set pulses racing amongst Hong Kong’s fashionistas.

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  • Arabica Coffee Opens in the Philippines

    Arabica Coffee Opens in the Philippines

    After nearly a year of planning, Kyoto’s % Arabica Coffee has opened its first store for the Philippines.

    It is in Manila’s Bonifacio Global City and is the result of the efforts of a mother-and-daughter team that has been travelling around the world looking for the best coffee spots. Allue Hortazela says she and her mother could not forget the taste of % Arabica, prompting her to return to the Kyoto main branch of % Arabica to contact the owner with the hope of launching a branch in the Philippines.

    Founded in 2014 by Kenneth Shoji, % Arabica uses 100 per cent Arabica coffee beans sourced internationally from countries such as Brazil, Guatemala and Japan.

    To support the opening of the Manila branch, % Arabica global and Kyoto head barista Junichi Yamaguchi flew from Japan to oversee the crafting of coffee for every customer.

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  • Asia gold demand picks up as prices fall

    Asia gold demand picks up as prices fall

    Physical gold demand in Asia picked up towards the end of the week, as a pullback in prices spurred purchases ahead of the Lunar New Year in China and the wedding season in India.

    Spot gold has declined about 1% so far this week and was headed for a second straight weekly drop due to a recovery in the dollar. 

    “Retail buyers are comfortable with the current price range,” said Aditya Pethe, a director at Waman Hari Pethe Jewellers in Mumbai. Local gold prices have declined more than 2% since rising to Rs30,720 per 10 gram last week, the highest since November 9, 2016.

    Dealers were charging a premium of up to $1.5 an ounce yesterday over official domestic prices, down from $2 last week. The domestic price includes a 10% import tax.

    “Demand is not great but the market is still in premium due to limited supplies. Imports were lower last month,” said a Mumbai-based dealer with a private bank. India’s gold imports in January dropped 37% from a year earlier to their lowest in 17 months as buyers postponed purchases in expectation of a cut in the import tax.

    Gold demand in India is likely to remain below its 10-year average for a third year in 2018 as higher taxes and new transparency rules on purchases may cap last year’s rebound in buying, the World Gold Council said on Tuesday.

    In top consumer China, premiums rose to $9-$10 an ounce from $6-$8 last week as demand picked up after prices fell later in the week, traders said.

    In Hong Kong, premiums remained unchanged from last week at between 60 cents and $1 an ounce. Demand in Southeast Asia remained strong ahead of the Chinese New Year that starts from February 16, as dealers stocked up in anticipation of strained supply during the festival week when gold refineries and businesses will be on holidays.

    “Supply-wise, we see some issues… That’s why the market is getting squeezed a bit and premiums are a little higher now,” said Brian Lan, managing director at dealer GoldSilver Central in Singapore.

    “Dealers generally try to get in more inventory during this period to at least get through the one tight week during the Chinese New Year.”

    Premiums for the precious metal in Singapore were slightly higher this week at between 80 cents and $1 an ounce, compared with 60-80 cents last week.

    “There’s no shortage of gold or anything, but it’s because of the festival season and the production schedule,” said Lan.

    In Japan, gold was sold at par after being on discount for the past few weeks, according to a Tokyo-based trader.

    India’s gold imports in January dropped 37% from a year earlier to their lowest in 17 months as buyers postponed purchases in expectation of a cut in the
    import tax.

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  • PUMA And Hello Kitty Just Took Cuteness To The Next Level

    PUMA And Hello Kitty Just Took Cuteness To The Next Level

    Puma Japan has launched a red-and-white themed collection that pays homage to the Hello Kitty character.

    At the centre of the limited-edition collection is a pair of sneakers created to mark the 50th anniversary of Puma Suede.

    For the collection, Hello Kitty appears with her trademark bow and milk bottle.

    On the shoes, the graphic is accented with red laces and red suede on the tongue, heel and sides. Hello Kitty also appears on the tongue, poking out from the laces alongside the Puma logo.

    The Sanrio character can be found on several other items in the German sportswear brand’s range, including a red-and-white tracksuit and a t-shirt. A gymsack and a backpack feature the character on see-through designs.

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  • Asia boosts Hermes international sales

    Asia boosts Hermes international sales

    Hermes international sales showed strong growth last year, pushed by an upward curve in Asia.

    Sales for the French fashion brand were up 9 per cent at constant exchange rates, with consolidated revenues reaching €5.5 billion (US$6.7 billion). After adjustment for the negative currency effect resulting from the year-end strengthening of the euro, the increase was 7 per cent.

    In the final quarter growth was sustained at 5 per cent at constant exchange rates.

    During the year Hermes continued to improve its distribution network, renovating and extending almost 20 stores. It launched websites in Canada and the US, to be followed by China at the end of this year.

    Asia, excluding Japan, saw sales rise 11 per cent with a positive outlook in Mainland China and South Asia.

    Hermes says the context is improving in Hong Kong and Macau. Regional stores were extended and renovated – the Sogo Fuxing store in Taiwan, Kowloon Elements in Hong Kong and the Kuala Lumpur store.

    Despite a high comparison basis, Japan recorded a sustained increase of 4 per cent thanks to its selective distribution network.

    All sectors recorded growth, with a “remarkable” performance by the ready-to-wear and accessories, perfumes and other sectors.

    Leather goods and saddlery sales grew 10 per cent to meet demand for such bags as Constance, Halzan, Lindy and Verrou. Shoes particularly boosted sales in the ready-to-wear and accessories division, up 9 per cent, silk and textiles had a  6 per cent rise, while the perfumes division posted 10 per cent growth with the launch of Twilly d’Hermes.

    There was a 1 per cent rise in watch sales, while other Hermes business lines ‒ encompassing jewellery, Art of Living and Hermes Table Arts ‒ rose 11 per cent.

    Currency fluctuations had a negative impact of €100 million on revenues.

    The company will publish its annual results next month.

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  • Most expensive whiskey in the world

    Most expensive whiskey in the world

    A rare Japanese whisky just became the most expensive ever sold at auction.

    The Spirits Business reports that a limited edition bottle of Yamazaki 50-year-old single malt fetched $300,000 at Sotheby’s Finest and Rarest sale in Hong Kong.

    That’s more than double its pre-sale price estimate of $140,000.

    Paul Wong, specialist at Sotheby’s Wine, Asia, said: “We are absolutely thrilled with the new world auction record set by the Yamazaki Aged 50 Years NV, the highest price achieved for any single bottle of Japanese whisky, illustrating a whisky market in full swing.”

    Assuming that the bottle contains a fifth of its ultra-rare nectar, each pour is worth around a staggering $16,500. That’s one helluva hangover.

    While the Yamakazi may sound absurdly expensive, it’s a long way off from the priciest whisky ever sold. In 2014, a bottle of Macallan Imperiale M set the record with a $628,205 price tag at Sotheby’s.

    Granted, the faceted crystal decanter held 6 liters of hooch and took 7 craftsmen 50 hours to complete.

    For something a little more affordable but probably just as delicious, check out our boozy lists of the 10 best single malt scotches, 10 rare whiskey collections, and the absolute best whiskeys of 2017.

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  • Nestlé goes pink for Valentine’s Day

    Nestlé goes pink for Valentine’s Day

    Nestlé may have struck gold with the release of a new type of Kit Kat made using special “ruby” cacao beans. The new flavor, Kit Kat Chocolatory Sublime Ruby, was launched in select stories in Japan and South Korea on 19 January 19 2018 and shows signs of being a hit.

    The first limited run of 5,000 bars in Japan has sold out and there is even a small black market–or pink market if you prefer–of people reselling the chocolates at a slightly marked up price online.

    In September 2017, the Swiss chocolatier Barry Callebaut announced that they had developed a brand new type of chocolate, using ruby cacoa beans.

    Historically, there have only been three other types of chocolates in existence, according to the company: dark, milk and white. Ruby chocolate is “the fourth chocolate.” The beans have a pinkish red tint and unique taste; they are cultivated in Brazil and the Ivory Coast, among other countries. Chocolate aficionados have eagerly awaited the first ruby chocolates to be released since last summer.

    Nestlé claims to be the first the company to turn the beans into a product. In Japan, the Sublime Ruby Kit Kats were first sold individually at 400 yen ($3.60) for a single package from January 19-25, either at Kit Kat boutique stores or online. From February 1, you can purchase five or seven-piece assorted flavor Valentine’s Day boxes, each including two Ruby Chocolate Kit Kats, that will sell for about $16 and $21 respectively. The main retail shop in Tokyo’s Ginza area will also be offering a Ruby Hot Chocolate set in their cafe, that includes one Ruby Kit Kat, for 1000 yen ($9).

    Kit Kat has been a tremendous success in Japan, partly because the name when pronounced in Japanese, sounds like “Kitto Katsu (きっと勝つ)” which translates as “you (he, she) will surely win.” The company, through clever marketing, convinced Japanese consumers that Kit Kats were auspicious gifts to give to those applying for college or seeking jobs.

    Nestlé has launched over 350 different Kit Kat flavors over the years, including the highly successful green tea version, as well as wasabi, cherry blossoms, beni imo (vermillion potato) and even azuki bean sandwich versions. The firm never has all the flavors available at the same time, but many kinds can be purchased at airports as souvenirs or at boutique Kit Kat stores. It should be noted that some variations have been less successful than others. Last year, Throat Candy (のど飴味) flavored Kit Kats did not appear to do well. These whitish Kit Kats were poorly rated on a website devoted to appraising chocolate snacks, although you might like them, if you like medicinal mint chocolate-chip ice cream, and some ended up on the discount racks of convenience stores.

    The Sublime Ruby edition was designed by a top Japanese pastry chef, Yasuma Takagi, who has spearheaded many Kit Kat creations. Of course, I tried these pinkish delights before writing this. They had a distinct flavor and pleasant sourness that was slightly like a tart berry, but also with a mild sweetness that was reminiscent of milk chocolate.

    Chef Takagi, is quite proud of his work, commenting in press materials: “I am extremely honored to be part of this landmark moment in the history of chocolate, with which I have worked intimately for over thirty years. I have created an especially simple Kit Kat that allows you to enjoy the characteristic fruity fragrance and subtle acidity of Ruby cacao to the fullest. Enjoy wonderful flavors that have never been experienced before.”

    Nestlé suggests that since their new Kit Kat is such a rare and precious chocolate, you should want to give some to that “special person” in your life on Valentine’s Day. It is not a bad sales pitch.

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  • Citiesocial to expand in Asia after the funding boost

    Citiesocial to expand in Asia after the funding boost

    Following series-A funding of US$2.75 million, Taiwan online retail platform Citiesocial seeks to expand into other parts of Asia.

    Its funding round was led by the Taiwan fund of Alibaba Group Holding.

    Citiesocial, which sells items such as water bottles and kitchenware from emerging brands, plans to use the funds to bolster services and technology to help rising designers grow their presence in Asia, says founder Eric Wang. This will start in the next few months with strategic partnerships with e-commerce channels in China, Japan and Korea, he says.

    Citiesocial curates branded goods as a point of difference from other platforms that offer mainstream brands. It revenue last year reached $20 million, with monthly sales valued 130 times more than at the beginning of 2014. It has 600,000 customers and a staff of 42, including Wang, who describes his customer demographic as “leaning slightly” toward a more mature, well-educated male consumer.

    “We curate goods globally to sell at least in Taiwan and Hong Kong,” he says. “A third of our revenue comes from goods that no-one else sells in Taiwan and Hong Kong.”

    One of Citiesocial’s top performing brands is British men’s accessories maker Vanacci, while it has just sold more than 1000 travel jackets from Kickstarter graduate Baubax.

    Taiwan’s fragmented e-commerce market allowed Citiesocial to be able to pivot many times in its seven and half years with only $700,000. Elsewhere he would have burned that money within the first six months, says Wang, who worked in the US for 18 years.

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  • Seven-Eleven becomes first retailer to hit 20,000 stores in Japan

    Seven-Eleven becomes first retailer to hit 20,000 stores in Japan

    7-Eleven Japan has become the country’s first retailer to open more than 20,000 stores.

    The Seven & I Holdings unit reported a store count of 20,033 at the end of last month, up by 54 from the end of December. By comparison, Japan has about 24,000 post offices.

    Making its debut in Tokyo’s Toyosu district in May 1974, 7-Eleven grew to 10,000 stores by August 2003. It reached 15,000 outlets in February 2013.

    The convenience stores can be found in all but one of Japan’s 47 prefectures, the holdout being Okinawa, where locations will open next year.

    Revenue for the chain for the year ended February last year totalled ¥4.51 trillion (US$41 billion), nearly double the sales in the year ended February 2004, when it crossed the 10,000-store mark. Average daily sales per store reached ¥657,000 last fiscal year, a 2 per cent gain.

    An increase in female customers has become an important driver of sales. Males made up 65 per cent of visitors during the year ended February 2004, but now men and women visit in roughly equal numbers.

    More women have been attracted as 7-Eleven has expanded its offerings of ready-made packaged dishes and frozen foods, positioning itself as an alternative to supermarkets.

    A Nikkei survey shows 7-Eleven Japan leading the convenience-store sector with a 40.4 per cent share of sales in fiscal 2016, followed by Lawson and FamilyMart Uny Holdings. Together, the trio accounts for about 90 per cent of the market.

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  • Tokyu Hands goes to global GIA Awards finale

    Tokyu Hands goes to global GIA Awards finale

    Eclectic Japanese department store Tokyu Hands has been named one of the global finalists in this year’s GIA Awards in Chicago.

    Tokyu Hands has 75 stores in Japan and three in Singapore, selling items including fashion and interior goods, but with kitchenwares and other household items as its core. Customers range from teens to seniors.

    “Japanese consumers are said to have the harshest eye in the world for quality and design,” observed a spokesperson for the GIA (Global Innovation Awards). “Tokyu Hands’ buyers think deeply about what their customer wants before selecting products. The sales staff are highly skilled and very knowledgeable to meet the demands of customers with severe eyes. That’s a big reason for why many people visit the store.”

    Another Japanese homewares chain, The Loft, won a GIA Award last year.

    Other finalists from Asia in this year’s awards are Cuccina, a small homewares store in China, and Maissone in Singapore which sells offline and online.

    Each national GIA winner is invited to the International Home + Housewares Show in Chicago where the global GIA jury, consisting of four experts representing Asia, Europe and the Americas, plus a rotating group of co-sponsoring trade publication editors from around the world, will select up to five GIA Global Honorees, the winners of the Martin M Pegler Award for Excellence in Visual Merchandising and the GIA Digital Commerce Award for Excellence in Online Retailing.

    The winners from each region will be honored at a festive awards dinner on Saturday, March 10, during the 2018 International Home + Housewares Show in Chicago.

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  • Singapore lags Japan and China with e-commerce use

    Singapore lags Japan and China with e-commerce use

    In contrast with data about digital transformation and government’s engagement in promoting digital solutions for retail, Singaporeans have not fully embraced e-commerce.

    Credit Suisse data show that Singapore falls behind China, US, and Japan in terms of e-commerce usage.

    In 2017, Singapore e-commerce comprised 5% of the country’s total retail.

    Meanwhile, e-commerce comprised 23% of total retail in China and 8% of retail in the US.

    Singapore still beat other ASEAN countries, however. The proportion of e-commerce in total retail in Indonesia is at 3%, nearly 2% in Malaysia and Thailand, and 1% in Vietnam and the Philippines.

    Those data also do not match with marketers’ opinions that frame those markets as a huge opportunity given the slow development of retail physical infrastructure. The fact that most brands are present in the main cities only, and cannot reach the remote areas yet, places e-commerce  as a complementary service to compensate the offline retail.

    However, those data show that there is still a long way to go. Definitely, millennials in those areas are tech-savvy, but the lack of sophisticated infrastructure slow down the process.

    Credit Suisse said with 158 million middle class consumers, ASEAN is often seen as the next frontier for the e-commerce market, but e-tailing — online retailing — is still at China’s levels in 2010.

    The firm said the entry of Chinese tech giants could change the ASEAN e-commerce scene significantly.

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  • Who’s travelling to Japan?

    Who’s travelling to Japan?

    Japan’s tourism bonanza shows no signs of abating. The country welcomed a record 28.6 million visitors from abroad in 2017, an increase of 19.3% on the year. Travelers also spent significantly more: 4.4 trillion yen ($39.68 billion), up 17.8%.

    So, where are all of these people coming from? Where are they going? And what are they spending their money on?

    The numbers clearly show geographical proximity is a major factor. Mainland China was the No. 1 source of visitors to Japan last year, accounting for 7.35 million, or 25.6% of the total. South Koreans were close behind at 7.14 million, or 24.8%.

    Back in 2007, only 942,439 Chinese tourists came to Japan. But over the next decade, the figure soared by 680.5%.

    Traffic from Taiwan and Hong Kong was also brisk in 2017: the former accounted for 4.56 million visitors, or 15.9%, while the tally from the latter came to 2.23 million, or 7.7%.

    Although China has played a big role in the tourism boom, it is only part of the story.

    Japan has seen exponential growth in the number of tourists from South East Asia. In terms of sheer growth rate from 2007 to 2017, Vietnam actually led the pack, with an 868% increase over 10 years. Arrivals from Thailand surged 489.3%, while those from Indonesia jumped 448.7%.

    What is interesting is also to see where do they go. As for where international travelers stayed in 2017, the usual destinations came out on top: Tokyo, Osaka, Hokkaido and Kyoto. But in terms of growth from the previous year, Tokyo ranked only 33rd out of the country’s 47 prefectures, with Osaka placing 22nd, Hokkaido 26th and Kyoto 19th.

    Oita Prefecture, in the Kyushu region, logged the biggest rise in overseas visitors. Known for its popular hot springs, Beppu Onsen and Yufuin, the prefecture appears to be capitalizing on tourists’ growing tendency to favor uniquely Japanese experiences over shopping.

    Next up was Saga Prefecture, which is now served by more direct, budget flights from Asian cities. Saga is adjacent to another popular destination, Fukuoka Prefecture, making the area a convenient option with ample accommodations.

    At No. 3 was Aomori Prefecture, in the northeastern Tohoku region. This was partly thanks to international carriers: China’s Okay Airways opened a direct flight from Tianjin to Aomori in May, and Korean Air also increased its flights. “Overseas tourists are going to places like open air hot springs by the seaside or hotels with no electricity for visitors — destinations even Japanese people don’t visit that much,” said Akihiko Tamura, commissioner of the Japan Tourism Agency.

    Few will be surprised to find that Chinese tourists topped the spending ranking, forking out an average of 230,382 yen per person in 2017. The bulk of that money went toward shopping.

    Visitors from the U.K. and Australia, meanwhile, spent the most on food and drinks as well as hotels. Visitors from Spain, France and Italy shelled out the most on transportation.

    South Koreans, on the other hand, placed at the bottom of the rankings for hotels, food and drinks, transport and shopping — and, naturally, overall spending. Yet this does not mean they are frugal travelers: since Japan is only a brief flight away, they tend to stay for shorter periods than tourists from other countries, limiting their spending.

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  • Fujifilm to cut 10,000 jobs at subsidiary amid Xerox takeover

    Fujifilm to cut 10,000 jobs at subsidiary amid Xerox takeover

    Japanese technology firm Fujifilm on Wednesday announced 10,000 job cuts by March 2020 at its Fuji Xerox subsidiary, which it said was facing an “increasingly severe” market environment.

    In a major shake-up, Fujifilm also announced it would be combining Fuji Xerox with US giant Xerox, bringing both companies under its umbrella to create what it said was the world’s largest “document solutions company” by revenue.

    As part of a cost-cutting package that it hopes will save 50 billion yen (RM1.793 billion), Fujifilm announced “personnel reductions of 10,000 people domestically and overseas” at Fuji Xerox.

    Founded in 1934, Fujifilm became synonymous with the photography business but has since expanded into cosmetics and medical equipment.

    Fuji Xerox, which manufactures printers and copiers for offices mainly in Asia and the Oceania regions, employs around 46,000 people in total.

    “It is expected that this combination will generate a large number of synergies,” said Fujifilm in a statement, with Fuji Xerox mainly doing business in Japan and Asia and Xerox in the US and Europe.

    Xerox had faced a revolt from two major shareholders, Carl Icahn and Darwin Deason, who between them control 15 percent of the company.

    They recently published a joint letter urging the company to consider selling itself and calling for the immediate replacement of its CEO.

    The restructuring will have an impact on Fujifilm’s operating income, the firm said, revising down its forecasts for the current fiscal year to 130 million yen from 185 million yen.

    Net profit however was forecast to rise to 140 million yen from 125 million yen due to one-off gains from sales of investment securities.

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  • Mori Building and teamLab to launch “MORI Building DIGITAL ART MUSEUM teamLab Borderless” in Odaiba, Tokyo this summer

    Mori Building and teamLab to launch “MORI Building DIGITAL ART MUSEUM teamLab Borderless” in Odaiba, Tokyo this summer

    Mori Building, a leading urban developer in Tokyo, and the art collective teamLab today announced that they will jointly open “MORI Building DIGITAL ART MUSEUM teamLab Borderless,” a full-scale digital art museum in the Palette Town complex of Odaiba, Tokyo in the summer of 2018. The all-new museum concept is a collaborative initiative between Mori Building, a noted supporter of culture and art, and teamLab, an interdisciplinary creative group that utilizes the digital technologies to express art.

    The museum, teamLab’s first permanent exhibition and flagship facility in Tokyo, will boast a massive 10,000 square meters of labyrinthine floor space. The word “Borderless” expresses the museum’s aim to tear down the borders between “one art and another,” “art and visitors” and “oneself and others” by allowing visitors to melt into the art and become part of it. Mori Building and teamLab hope that their groundbreaking museum will inspire people to create enlightened new values and innovative new social frameworks.

    Mori Building actively works to integrate art in cities, including by staging important cultural activities. In the view of the company, cities vitally need culture and art to expand their magnetic power to attract creative people and enterprises from throughout the world.

    teamLab aims to explore a new relationship between humans and the world through art. The collective’s collaborative practice seeks to liberate art from physical constrictions and transcend boundaries in contemporary society, where the border between technologies and creativity is coming fuzzy.

    Through their collaboration, Mori Building and teamLab aim to create a unique destination that enhances the magnetic power of Tokyo toward 2020 and beyond.

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