Isetan Mitsukoshi to Delay Renovation of Tokyo Stores, NHK Says

By Naoko Fujimura

Dec. 20 (Bloomberg) -- Isetan Mitsukoshi Holdings Ltd., Japan’s largest department store, will delay renovation of its two flagship outlets in Tokyo by as much as two years from next fiscal year, as the recession saps consumer spending, NHK said on its Web site.

Tobu Department Store Co. also froze its three-year plan to spend 7.3 billion yen ($82 million) to improve a store in Tokyo, Japan’s public broadcaster reported, without saying where it got the information.

J. Front Retailing Co., the operator of Daimaru and Matsuzakaya stores, also put off by a year plans to revamp its stores and decided to cut costs by about 2 billion yen ($22.4 million, the report said.

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