According to the Financial Association on December 26 (Editor Liu Rui), Japan's Foreign Minister Yoshimasa Hayashi revealed on the 25th at the ministerial "Japan-China High-Level People-to-People Exchange Mechanism" meeting that he would relax the conditions for issuing travel visas for Chinese tourists to Japan and implement more measures to promote tourism between the two countries.

After this news broke, Japanese Stocks related to retail and tourism immediately surged on Thursday. As of the time of the report, the stock price of Japanese department store operator J. Front Retailing Co. increased by 8.38%, leading the Nikkei 225 Index. Isetan Mitsukoshi Holdings and Takashimaya Co., Ltd. also rose by 6.98% and 3.69%, respectively, while the operator of Tokyo Disney Resort, Oriental Land, climbed by 2.5%.

Stock price trend of Japanese department store operator J. Front Retailing Co.

The enthusiasm for traveling to Japan suddenly soared.

It was reported that Japan's specific measures to promote tourism for Chinese tourists include establishing a 10-year valid travel visa and extending the stay duration for group travel visas from 15 days to 30 days to promote economic and cultural exchanges between China and Japan. These relaxation measures are expected to be implemented in the spring of 2025 after preparation is completed.

According to reports by the Financial Association, after the news was released, as of Wednesday (December 25) at 5:30 PM, the search volume for round-trip tickets from domestic locations to Japan during the Spring Festival holiday surged over three times compared to the same period the previous day. The inquiry volume for travel products to Japan during the Spring Festival holiday nearly doubled compared to the same period the previous day. The Qunar Index showed that on December 25, the search index for flights to Tokyo and Osaka increased by 20% compared to last week, currently ranking second and third among overseas destinations. Some relatively less popular destinations, such as Hakodate, Otaru, and Izu, saw hotel search volume increase by more than double.

Chihiro Ota, a senior strategist at Mitsui Sumitomo Trust and Banking, said that although the market had largely factored in the benefits of more Chinese tourists due to relaxed visa conditions, the latest news might make this topic a priority once again in investors' minds.

Earlier this month, there were reports that Japan plans to relax visa regulations for Chinese citizens, which had previously led to a surge in retail stocks.

The number of Chinese tourists is on the rise.

Since the beginning of this year, the number of foreign tourists traveling to Japan has been increasing. This is largely due to the depreciation of the yen, which has reduced the cost of traveling to Japan.

According to data from the Japan National Tourism Organization, the top three sources of overseas tourists visiting Japan last month were South Korea, mainland China, and Taiwan.

Chihiro Ota, a senior strategist at Mitsui Sumitomo Trust and Banking, added that with the continuous increase in tourists to Japan, this has driven sales and profit growth for J. Front, indicating that the increase in overseas tourists indeed helps boost the popularity of the retail industry.

He also predicted that considering the upcoming Chinese Spring Festival holiday, the impact of relaxed visas for Chinese tourists on Japan's retail trade will likely be seen soon.