Japanese retailer Pan Pacific International Holdings plans to open 250 new stores by 2035, in a bet on continued surging foreign tourism.
The Don Don Donki store operator is aiming to drive tax-free visitor sales and expand in locations of key tourist travel routes, according to a earnings presentation Monday.
Pan Pacific set its 2035 goal for ¥400 billion ($2.7 billion) in tax-free sales, after a record ¥174.2 billion in tax-free sales for fiscal year 2025, driven by increased store traffic from international customers.
The move comes as the government is targeting 60 million annual visitors by 2030, thanks to surging post-pandemic global tourism and a weak yen driving record inbound numbers.
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