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CLIP Corporation
CLIP runs a chain of Tsutaya book and video rental stores in Japan and also sells school supplies and office products.
CLIP is the Japanese company behind the Tsutaya bookstore chain, a name almost every shopper in Japan knows. Its stores sell books, magazines, movies, and stationery, and many also rent DVDs and CDs, which is how Tsutaya became famous long before streaming arrived. Think of it as Japan's neighborhood entertainment shop — a place to browse shelves, grab a magazine, or rent a film for the weekend.
The company runs two main businesses. One is the Tsutaya retail segment: bookstores, video rental shops, and a growing number of combined store-and-café formats designed to make browsing a leisure activity, not just a quick errand. The other is a business-to-business segment that sells office supplies and school equipment, mostly to schools, companies, and public institutions. That B2B side is steady and unglamorous, while the retail side carries the brand and the foot traffic. CLIP's biggest challenge is the shift to digital. Streaming and online shopping have eaten into DVD rentals and physical media sales for years, and Japan's shrinking population adds pressure to the retail side. Tsutaya has responded by leaning into bookstores with cafés and shared workspaces — turning stores into places people linger rather than just buy. The company also owns stakes in related ventures and has tied up with partners to keep its real estate and retail formats fresh.
The company is listed on the Tokyo Stock Exchange and remains a well-known but mid-sized player in Japanese retail. It pays a dividend and has generally kept a conservative balance sheet, which suits a business with slow growth and a loyal but aging customer base. The core question for investors is simple: can Tsutaya keep people coming into stores when almost everything it sells can be found online?
Saved answer · last researched 10 Nov 2026