Report: Office Depot to close remaining stores in Japan

New York City Office Depot will shutter its remaining stores in Japan due to intense price competition, according to a Nikkei newspaper report.

Office Depot’s subsidiary in Japan has closed eight stores this year, with the other 20 expected to close by the end of the year, the Nikkei reported Sunday.

Office Depot Japan Ltd. opened its first location in 1997. The subsidiary will continue its mail-order and online sales and soon sell other private-brand goods now marketed overseas, MarketWatch reported.