HMV Japan will shutter its flagship retail location in Tokyo's Shibuya district on Aug. 22.

The move is more evidence of the collapse of the physical music market in Japan, which lost 27% of it value in 2009 (, January 26, 2010) according to Soft Information Planning (SIP), which operates the Soundscan Japan music charts/market research firm.

HMV Japan will shut down the Shibuya store and three other Japanese stores in August.

The Shibuya outlet, opened in 1990, was the first HMV store in Japan and, with approximately 6,400 square feet (600 sq m.) of floor space, the largest.

This news follows on the heels of the announcement that the Tokyo-based retail CD and DVD rental giant Culture Convenience Club (CCC), which operates the industry-leading chain Tsutaya, would purchase all the shares of HMV Japan from Daiwa Securities SMBC Principal Investments (DPI) effective June 30 (, March 29, 2010).

HMV Japan shut a Tokyo outlet in the busy Shinjuku district, located in the upscale Takashimaya department store, on Jan. 6, 2010. Forty retail stores will remain for HMV Japan after the August closures.

U.K.-based HMV Group Plc. opened the Japan subsidiary in 1990 and sold all shares to DPI in 2007.