Latest news with #TakeshiOnishi
Yahoo
29-05-2025
- Business
- Yahoo
Beloved San Francisco Icon Shuts Down After 40 Years
After 40 years of serving its community, a beloved cultural institution is shutting its doors. Japan Video and Media, a long-standing hub for Japanese and Korean media lovers, has announced it will close at the end of the month. Unlike many retailers grappling with sales slumps, inflation, and tariffs, this closure stems from a more personal reason: owner Takeshi Onishi is retiring, The Street reported. Onishi, who founded the store after moving to the U.S. from Japan, dedicated his business to introducing people to Japanese culture. Over the decades, the store became a go-to spot for Japanese and Korean videos with English subtitles, as well as anime collectibles and cultural merchandise. In 2020, Japan Video and Media was honored with legacy business status in San Francisco, a testament to its cultural significance and deep community roots. 'We have served over a million people,' Onishi shared in a heartfelt statement. 'We could not have done it without our loyal customers and our dedicated staff. We are grateful for each and every one of you.' While many small businesses have struggled in recent years—hit hard by the pandemic, economic shifts, and changing consumer habits—Japan Video and Media thrived thanks to its unique offerings and devoted customer base. Its closure isn't about declining demand, but rather Onishi's decision to step away and enjoy a well-deserved retirement. For longtime fans, the end of this chapter is bittersweet. The store's legacy lives on as a reminder of the power of cultural connection, community, and resilience. As Japan Video and Media prepares to close its doors, it leaves behind a story of dedication and impact that won't soon be San Francisco Icon Shuts Down After 40 Years first appeared on Men's Journal on May 29, 2025
Miami Herald
28-05-2025
- Business
- Miami Herald
Iconic local retail store closing after successful 40-year run
The past few years have dealt the retail industry a tough blow. And that extends to major chains and local businesses alike. The trouble started during the pandemic, when retail stores were forced to close their doors to customers. Smaller businesses with an online presence were able to keep going. But those that relied on foot traffic suffered a huge loss of revenue in 2020, to the point where many didn't recover. Don't miss the move: Subscribe to TheStreet's free daily newsletter Even retail businesses thatdid recover from the events of 2020 haven't had it easy since. Related: Costco quietly drops popular product, saddens fans Inflation has plagued consumers since it started creeping upward in 2021. These days, consumers are still paying more for everything from rent to groceries. As a result, people don't have as much money to spend at retail stores. And so not surprisingly, sluggish sales are continuing to force a lot of local retailers to shutter or file for bankruptcy. At this point, it's fair to say that the retail industry on a whole is worried about tariffs. Giants like Walmart and Costco may be reasonably poised to deal with the impact of tariffs, given their massive footprints. Related: Walmart makes surprise cuts as it looks at tariff price hikes But even Walmart has cautioned consumers and investors alike that it may need to raise prices if it can't absorb the entire hit of tariffs on its own. If major retailers are concerned about the impact of tariffs, it stands to reason that small businesses that rely on imports are even more stressed about them. Local businesses don't have the negotiating power that companies like Walmart and Costco do. And it won't be surprising to see many beloved stores shut down if tariff policies substantially drive up the cost of procuring inventory. While sluggish sales, inflation, and tariff worries may be driving a good number of retailers to close, one iconic San Francisco store is shuttering for a different reason. Japan Video and Media, a thriving San Francisco business, has announced plans to close its doors for good at the end of the month. The store has had a successful 40-year run. Related: Iconic department store flagship survives, still could close Owner Takeshi Onishi was born in Japan and moved to the U.S. for college. He decided to stay and open a business in San Francisco's Japantown. Soon after, it gained a reputation as being the only store in the area with a notable inventory of Japanese and Korean videos with English subtitles. Onishi's goal was to open a store that introduced people to Japanese culture and made the language more accessible. Japan Video and Media was also well-known for its selection of anime merchandise and collectibles. The store was so popular that in 2020, San Francisco awarded it legacy business status. More retail: Walmart CEO sounds alarm on a big problem for customersTarget makes a change that might scare Walmart, CostcoTop investor takes firm stance on troubled retail brandWalmart and Costco making major change affecting all customers But now, fans have to say goodbye to Japan Video and Media as Onishi gears up to retire. "We have served over a million people," Onishi wrote in a statement. "We could not have done it without our loyal customers and our dedicated staff. We are grateful for each and every one of you." The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
CBS News
27-05-2025
- Business
- CBS News
Japan Video and Media in San Francisco Japantown closing its doors after more than 40 years
SAN FRANCISCO — A popular San Francisco business is getting ready to shut its doors for good. Japan Video and Media has been around for more than 40 years, 37 of those have been at the Japan Center Mall. "I used to come here all the time as a kid," Miguel Tanato said. "I'm like 34 now." Miguel Tanato said he never expected to walk by and see a large sign with red letters spelling out, "closing sale." "Realizing that it was closing, I was like 'I should take one last look around'," Tanato told KPIX. As he looked through the shelves one last time, he remembered just how significant it was to have exposure to these types of films in the 90s and early 2000s as an Asian kid growing up in San Francisco. "This was a way for me to access a lot of Japanese media when it wasn't easily accessible," said Tanato. He went to Sacred Heart Cathedral Preparatory school, less than a half mile away. He would often walk to the mall and browse the store after school. "The stores that I grew up with, getting to know the owners, and everything, they're going away," said Tanato. "Things are changing. Change is neither good nor bad, you know, it is what it is." The owner, Takeshi Onishi, didn't want to do an interview, but said the store is closing because he's retiring. While the employees understand the decision, they're still feeling the loss. "I'm still trying not to cry to be honest," Maria Suwabe said. "It's a lot of memories." Suwabe has worked at the store for 25 years. She spent the last few days saying goodbye to customers. "They're coming from Los Angeles, New York. Today, there was a convention in San Jose, and they're coming all the way from San Jose to support," Suwabe said. Japan Video is a San Francisco legacy business, in its application it stated the goal was to open a store that introduces and promotes Japanese culture. Suwabe said it's done that well. "It's a bridge between the two countries," she said. CBS News Bay Area asked if it's possible for something else to fill the void. "I don't think so," Suwabe responded. Tanato said he's disappointed to see the shop go, but still optimistic about the future of the area. "I'm kind of excited for what is to come with the revitalization of Japantown, but at the same time I'm kind of sad to see one of the last remnants of old Japantown go," Tanato said. The store is expected to close on May 27.
