Meitetsu Department Store closed after 71 years — sales halved, redevelopment collapsed

Meitetsu Department Store opened in 1954 as Nagoya's first terminal department store, occupying prime real estate above Meitetsu Nagoya Station. For decades it was a regional retail landmark, known for its iconic Nanachan doll and the world's only C-type vertical-drop escalator. At its peak in 2000, annual sales reached 79.3 billion yen.

Over the next 25 years, sales steadily declined as the department store model struggled against e-commerce, suburban shopping centres, and changing consumer habits. By 2025 annual sales had fallen to 41.3 billion yen — a 48% decline from the peak. The store employed 559 people including contract workers. A planned ¥888 billion redevelopment of the Nagoya Station area, which would have replaced the aging building with two high-rise towers, collapsed when the general contractor withdrew due to labour shortages and construction cost overruns of nearly double the original estimate.

Meitetsu Department Store closed on February 28, 2026 after 71 years of operation. The building remained standing with lower floors used as temporary commercial space. External sales operations were transferred to Meitetsu Seikatsu Souken, and construction-related work to Meitetsu Kyosho. Meitetsu said it would announce the redevelopment direction within fiscal year 2026, likely on a much smaller scale.