(Yicai Global) Aug. 23 -- Takashimaya, a Japanese department store chain which entered China in 2012, has withdrawn its earlier plan to leave the Chinese market after it got unexpected support from three sides: the local government, the owner of its property in Shanghai, and consumers who flocked the venue, hunting for bargains.

Takashimaya got help from the government and a real estate firm so it will continue operation as normal, the Osaka-headquartered firm announced on its website today, adding that it will stick to its goal of creating better, high-quality department stores. 

On June 24, the company said that its only mainland store had sluggish sales due to increasing competition so it decided to close on Aug. 25. After the announcement, large crowds of shoppers have visited the store to check out clearance sales, according to Chinese social media Pengyouquan. 

Before the discount mania, Takashimaya's sales were slower than expected because the chain has high prices and Chinese consumers are nowadays more keen on shopping at malls instead of department stores, according to data research firm Winshang.

Founded in 1831, Takashimaya sells imported high-end products made in Japan.

Editor: Emmi Laine