Visitors in front of the Cinderella Castle at Tokyo Disneyland in Tokyo, Japan on Jan. 17, 2023.
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Japan’s tourism-exposed stocks fell on Monday as tensions with China intensified after Beijing issued a travel and study alert for Chinese citizens considering going to Japan.
Beauty and cosmetics firm Shiseido, which relies heavily on Chinese spending, plunged 11%. Isetan Mitsukoshi Holdings, the parent company of the Mitsukoshi and Isetan department-store chains, lost over 10%.
Oriental Land, operator of Tokyo Disney Resort, declined 4.74%. Shares of airline operator ANA Holdings fell 3.48%. Hankyu Hanshin Holdings, a rail, retail and hotel operator, was more than 2% lower.
Beijing’s travel advisory cited rising risks for Chinese nationals following remarks by Japanese Prime Minister Sanae Takaichi that the use of military force in any Taiwan conflict could be deemed a “survival-threatening situation.” Chinese airlines responded by offering full refunds or free itinerary changes for flights to Japan.
China’s foreign ministry said Takaichi’s remarks amounted to a provocation. “These actions by Japan have inevitably raised strong questions and concerns among its Asian neighbors and the international community,” China’s Foreign Ministry Spokesperson Lin Jian said Friday, according to a Google translation of his remarks.
Tokyo on Saturday urged Beijing to keep its response measured, Minoru Kihara, Japan’s top government spokesperson, was quoted by media outlet Kyodo as saying, while asking China to take “appropriate measures” without elaborating.
