Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shidax-corp" target="_blank" data-smartkarma-citation="entities:7754:1" rel="noopener">Shidax Corp (4837 JP)</a> is a food service business in the midst of a so-far reasonably successful restructuring. The family had a partner in Unison and hoped to extend. </li>
<li>The founding family and Unison now have ~60% together, and they vote together. Unison wants out. The family wants <a href="https://www.smartkarma.com/entities/oisix-ra-daichi-inc" target="_blank" data-smartkarma-citation="entities:10145:1" rel="noopener">Oisix ra daichi (3182 JP)</a> in. So Oisix has tendered.</li>
<li>But SHiDAX sees the conflict and minorities getting hosed. So they object. The "easy" solution is a full MBO with Oisix support. </li>
</ul>



Shidax Corp (4837 JP) is a food service business in the midst of a so-far reasonably successful restructuring. The family had a partner in Unison and hoped to extend. 
The founding family and Unison now have ~60% together, and they vote together. Unison wants out. The family wants Oisix ra daichi (3182 JP) in. So Oisix has tendered.
But SHiDAX sees the conflict and minorities getting hosed. So they object. The "easy" solution is a full MBO with Oisix support. 


Oisix-Shida Stoush with SHiDAX Suggests Strong but Subtle Strategy

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Thematic (Sector/Industry)

<ul>
<li>Recently, the e-commerce retail market for goods had had more consistent growth than the overall online market, which saw a contraction in BtoB transactions during Covid. </li>
<li>In 2021, online sales of physical goods continued to grow, despite a correction following the spike in sales in 2020 when sales rose 21.7%.</li>
<li>Merchandise sales are set to grow by a similar amount in 2022, with food, fashion and consumer gadgets the highest growth categories.</li>
</ul>


Recently, the e-commerce retail market for goods had had more consistent growth than the overall online market, which saw a contraction in BtoB transactions during Covid. 
In 2021, online sales of physical goods continued to grow, despite a correction following the spike in sales in 2020 when sales rose 21.7%.
Merchandise sales are set to grow by a similar amount in 2022, with food, fashion and consumer gadgets the highest growth categories.


Japanese Merchandise E-Commerce to Grow 6.6% in 2022

Equity Bottom-Up

<ul>
<li>Aeon has finally published numbers on its e-commerce growth and performance.</li>
<li>It has a ¥1 trillion target for FY2025 and while this is still a far off target, Aeon is making progress. </li>
<li>Digital sales have doubled in the past two years and Aeon is now well ahead of Seven &amp; I which continues to fail to present a coherent e-commerce plan.</li>
</ul>


Aeon has finally published numbers on its e-commerce growth and performance.
It has a ¥1 trillion target for FY2025 and while this is still a far off target, Aeon is making progress. 
Digital sales have doubled in the past two years and Aeon is now well ahead of Seven &amp; I which continues to fail to present a coherent e-commerce plan.


Aeon Shows up Seven & I in E-Commerce Growth and Strategy

<ul>
<li>Although subscription consumption was already becoming popular before the pandemic, as familiarity with managing monthly payments for products and services have grown, sign up rates have surged since 2020. </li>
<li>The market reached just under ¥1 trillion in 2021, doubling in five years. Estimates suggest that B2C and B2B subscriptions combined will exceed ¥6 trillion in 2023.</li>
<li>As the sector grows more mainstream, more platforms are emerging to facilitate both set up and marketing, and more diverse subscriptions are launching to target specific niches.</li>
</ul>


Although subscription consumption was already becoming popular before the pandemic, as familiarity with managing monthly payments for products and services have grown, sign up rates have surged since 2020. 
The market reached just under ¥1 trillion in 2021, doubling in five years. Estimates suggest that B2C and B2B subscriptions combined will exceed ¥6 trillion in 2023.
As the sector grows more mainstream, more platforms are emerging to facilitate both set up and marketing, and more diverse subscriptions are launching to target specific niches.


Subscription Retailing Goes Mainstream in Japan

<ul>
<li>This is an in-depth review of Japanese e-commerce in the last 18 months, a time when e-commerce expanded rapidly and by 2023, e-commerce will be Japan’s single biggest retail channel.</li>
<li>We are now riding a wave of change as retailers integrate the e-commerce channel into their businesses, increasingly approaching a true omnichannel model.</li>
<li>And this is important in Japan because, although e-commerce penetration appears low, this overlooks the importance, convenience and ease of access to physical shops and integration with online.</li>
</ul>


This is an in-depth review of Japanese e-commerce in the last 18 months, a time when e-commerce expanded rapidly and by 2023, e-commerce will be Japan’s single biggest retail channel.
We are now riding a wave of change as retailers integrate the e-commerce channel into their businesses, increasingly approaching a true omnichannel model.
And this is important in Japan because, although e-commerce penetration appears low, this overlooks the importance, convenience and ease of access to physical shops and integration with online.


Japan

Oisix ra daichi Inc. sells various food products online. Among other products, the company sells vegetables, fruits, fish, meat, milk, and ready-made food.

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Oisix ra daichi (3182 JP)

Oisix-Shida Stoush with SHiDAX Suggests Strong but Subtle Strategy

SHiDax' founders wants Oisix to buy Unison's stake. SHiDAX thinks there is a conflict with minorities. There is. Unison has asked SHiDAX board...

Travis Lundy

Japanese Merchandise E-Commerce to Grow 6.6% in 2022

Japan's e-commerce market continued to grow in 2021 despite the surge in 2020 (up 21%) and is forecast to grow further in 2022, with food one of...

Michael Causton

Aeon Shows up Seven & I in E-Commerce Growth and Strategy

Aeon is now showing up Seven & I in e-commerce. While both retailers are behind specialty retailers in online share of sales, Aeon is now far ahead...

Michael Causton

Subscription Retailing Goes Mainstream in Japan

Subscription retailing is becoming a mainstream channel for many types of brand and retailer, not just digital services. The model helps shift...

Michael Causton

E-Commerce in Japan: The Big Review

Japan's e-commerce sector expanded rapidly in the last 18 months. The following is a complete review and analysis of the major trends as well as...

Michael Causton

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