Recently, Japanese Prime Minister Sanae Takaichi made remarks concerning the "Taiwan issue," drawing dissatisfaction from China. In response, China's Ministry of Foreign Affairs and Ministry of Culture and Tourism have repeatedly called on citizens to avoid traveling to Japan, and have issued study-abroad warnings, attempting to exert pressure on Japan through the tourism economy. Affected by these bearish factors, Japanese consumption and tourism-related stocks fell on the 17th.
During Monday's session, Japan Airlines once fell as much as 5.8%, ANA Holdings dropped 3.8%, Shiseido fell 11%, Sanrio declined 7.8%, Asics fell 6.6%, Fast Retailing (the parent company of Uniqlo) dropped 6.9%, and Isetan fell over 12%.
Some analysts say that China’s related action will put sales growth expectations under pressure for companies like Shiseido, which rely heavily on tourism. In addition, the risk of a domestic boycott of Japanese goods in China is also increasing. If this happens, it will hinder the plans of Shiseido, Uniqlo, Muji, and Asics to further expand sales in China.
Chinese tourists account for nearly 25% of all visitors to Japan, and their spending surpasses that of other tourists.
Korea's Lotte Tour Development Company Shares Rise Over 9.5%
Meanwhile, as of 11:58 a.m. on the 17th, the share price of Korean travel agency Lotte Tour Development Company jumped more than 9.5%.
Earlier, Yonhap News Agency reported that since South Korea began trialing a visa-free policy for Chinese tour groups in September this year, the number of Chinese tourists visiting South Korea is expected to continue to grow.
Several Korean travel agencies pointed out that the recent friendly attitude of the Chinese government has made it easier for the industry to attract Chinese customers. In particular, after Chinese President Xi Jinping visited South Korea at the end of last month and met with South Korean President Lee Jae-myung, the willingness of Chinese tourists to visit South Korea is expected to rise further.