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Meanwhile, unlike American market where most of customers buy books through “word of mouth”, in Japan, 41% customers buy books relying on review and advertisement (Otsubo, 2001). This definitely requires retailers to reduce their revenue for advertising campaigns.
Moreover, Japanese retail bookselling industry does not disclose their financial statements openly. Thus, it is hard to know exactly the total income of each retailer. This explains why the third biggest Japanese bookstore in terms of net sales – Kadokawa- is recorded to have a better financial performance than the biggest one – Maruzen (table IC-1...
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