Bargain-Hunting Chinese Make Japanese Retail King a Billionaire
- Inbound tourist shoppers have tripled in past three years
- Company started accepting Bitcoin, as well as Alipay, Wechat
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Japanese retail tycoon Ryuji Arai can thank a growing flock of Chinese spenders for his swelling fortune.
Bic Camera Inc., the Tokyo-based consumer electronics retailer that sells everything from cosmetics to liquor at discounted prices, has become a sought-after destination for tourists shopping in Japan. Profit has jumped to a record, sending its shares up by more than 50 percent over the past year.