The Japanese market was recovering, but slowly

Japan’s Ministry of Finance recently released the statistics for June, with retail sales of apparels reaching 718.8 billion yen, down 12% year-on-year and up 15.4% month-on-month, rising sharply month-on-month for two consecutive months. Compared with the same period in 2019, it still declined by 23%, which was still a considerable gap from the pre-epidemic level. Although Japan as a whole showed a recovery trend, Tokyo and Osaka saw slow recovery amid emergency.