diff --git a/source/detail/serialization/xlsx_consumer.cpp b/source/detail/serialization/xlsx_consumer.cpp
index d23d35db1..ea64b1318 100644
--- a/source/detail/serialization/xlsx_consumer.cpp
+++ b/source/detail/serialization/xlsx_consumer.cpp
@@ -272,8 +272,8 @@ Cell parse_cell(xlnt::row_t row_arg, xml::parser *parser)
             if (level == 2)
             {
                 // <v> -> numeric values
-                // <is> -> inline string
-                if (string_equal(parser->name(), "v") || string_equal(parser->name(), "is"))
+                // <is><t> -> inline string
+                if (string_equal(parser->name(), "v"))
                 {
                     c.value += std::move(parser->value());
                 }
@@ -283,6 +283,14 @@ Cell parse_cell(xlnt::row_t row_arg, xml::parser *parser)
                     c.formula_string += std::move(parser->value());
                 }
             }
+            else if (level == 3)
+            {
+                // <is><t> -> inline string
+                if (string_equal(parser->name(), "t"))
+                {
+                    c.value += std::move(parser->value());
+                }
+            }
             break;
         }
         case xml::parser::start_namespace_decl:
@@ -561,6 +569,7 @@ cell xlsx_consumer::read_cell()
         else if (current_element == qn("spreadsheetml", "is")) // CT_Rst
         {
             expect_start_element(qn("spreadsheetml", "t"), xml::content::simple);
+            has_value = true;
             value_string = read_text();
             expect_end_element(qn("spreadsheetml", "t"));
         }
diff --git a/tests/data/Issue445_inline_str.xlsx b/tests/data/Issue445_inline_str.xlsx
new file mode 100644
index 000000000..4085593b6
Binary files /dev/null and b/tests/data/Issue445_inline_str.xlsx differ
diff --git a/tests/workbook/serialization_test_suite.cpp b/tests/workbook/serialization_test_suite.cpp
index 56660f89b..289e08cad 100644
--- a/tests/workbook/serialization_test_suite.cpp
+++ b/tests/workbook/serialization_test_suite.cpp
@@ -91,6 +91,8 @@ class serialization_test_suite : public test_suite
         register_test(test_streaming_read);
         register_test(test_streaming_write);
         register_test(test_load_save_german_locale);
+        register_test(test_Issue445_inline_str_load);
+        register_test(test_Issue445_inline_str_streaming_read);
     }
 
     bool workbook_matches_file(xlnt::workbook &wb, const xlnt::path &file)
@@ -716,5 +718,23 @@ class serialization_test_suite : public test_suite
         test_round_trip_rw_custom_heights_widths();
         std::locale::global(current);*/
     }
+
+    void test_Issue445_inline_str_load()
+    {
+        xlnt::workbook wb;
+        wb.load(path_helper::test_file("Issue445_inline_str.xlsx"));
+        auto ws = wb.active_sheet();
+        auto cell = ws.cell("A1");
+        xlnt_assert_equals(cell.value<std::string>(), std::string("a"));
+    }
+
+    void test_Issue445_inline_str_streaming_read()
+    {
+        xlnt::streaming_workbook_reader wbr;
+        wbr.open(path_helper::test_file("Issue445_inline_str.xlsx"));
+        wbr.begin_worksheet("Sheet");
+        auto cell = wbr.read_cell();
+        xlnt_assert_equals(cell.value<std::string>(), std::string("a"));
+    }
 };
 static serialization_test_suite x;