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. 

Private Capital Markets

Nitori Holdings / Private Capital Markets

<ul>
<li>Iconic retail chain, Tokyu Hands, is to be acquired by Cainz, Japan’s leading home centre retailer. </li>
<li>Tokyu Hands remains as popular as ever thanks to its unique merchandising, but it has struggled to be profitable for a long time.</li>
<li>Cainz should be able to fix this and Hands will be part of Cainz’s plans to become the <a href="https://www.smartkarma.com/entities/workman-co-ltd" target="_blank" data-smartkarma-citation="entities:8467:1" rel="noopener">Workman Co Ltd (7564 JP)</a> of home retailing – bringing competition to Nitori.</li>
</ul>


Iconic retail chain, Tokyu Hands, is to be acquired by Cainz, Japan’s leading home centre retailer. 
Tokyu Hands remains as popular as ever thanks to its unique merchandising, but it has struggled to be profitable for a long time.
Cainz should be able to fix this and Hands will be part of Cainz’s plans to become the Workman Co Ltd (7564 JP) of home retailing – bringing competition to Nitori.


Cainz Takes on Nitori with Tokyu Hands Takeover

Thematic (Sector/Industry)

<ul>
<li>Consumers have long believed that inflation is about to return – an idea promoted by Abenomics since 2012 despite a stubborn lack of actual progress.</li>
<li>Now, analysts think real inflation might be just around the corner and consumers’ fears could suddenly be justified. </li>
<li>Retailers have begun to announce a series of price cuts, recognising consumers’ worries about prices and looking to reassure and gain market share at the same time.</li>
</ul>


Consumers have long believed that inflation is about to return – an idea promoted by Abenomics since 2012 despite a stubborn lack of actual progress.
Now, analysts think real inflation might be just around the corner and consumers’ fears could suddenly be justified. 
Retailers have begun to announce a series of price cuts, recognising consumers’ worries about prices and looking to reassure and gain market share at the same time.


Nitori and Muji: Cutting Prices as Inflation Nears

Equity Analyst, LightStream Research

Oshadhi Kumarasiri

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>Considering the geopolitical relationship over the last 100 years, it doesn’t take much for Chinese people to start developing an anti-Japan sentiment.</li>
<li>The relationship between the two countries was already reaching nervy levels, before Tokyo’s decision to snub the 2022 Winter Olympics.</li>
<li>We think the Japanese government’s decision to not send a government delegation to the Winter Olympics could be all that is needed to spark an anti-Japan sentiment among Chinese consumers.</li>
</ul>


Considering the geopolitical relationship over the last 100 years, it doesn’t take much for Chinese people to start developing an anti-Japan sentiment.
The relationship between the two countries was already reaching nervy levels, before Tokyo’s decision to snub the 2022 Winter Olympics.
We think the Japanese government’s decision to not send a government delegation to the Winter Olympics could be all that is needed to spark an anti-Japan sentiment among Chinese consumers.


Japan’s Boycott of Winter Olympics Could Be the Tipping Point

PAL GROUP Holdings Co., Ltd. / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pal-group-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:2633:1" rel="noopener">PAL GROUP Holdings Co., Ltd. (2726 JP)</a> is mostly a fashion retailer but two decades ago created a new discount variety chain called 3Coins. </li>
<li>3Coins has been one of the best performing retailers during the pandemic, building up a loyal following thanks to its diverse range of popular products.</li>
<li>Sales tripled in the decade to last year but look set to increase a further 25% this year alone.</li>
</ul>



PAL GROUP Holdings Co., Ltd. (2726 JP) is mostly a fashion retailer but two decades ago created a new discount variety chain called 3Coins. 
3Coins has been one of the best performing retailers during the pandemic, building up a loyal following thanks to its diverse range of popular products.
Sales tripled in the decade to last year but look set to increase a further 25% this year alone.


3Coins Proves a Hit in Pandemic and Moves into Food

<ul>
<li>A host of Japanese apparel brands are starting to reject cotton produced in the Xinjiang region.</li>
<li>Even though Fast Retailing is unlikely to stake a strong stand against the Xinjiang cotton controversy, actions by other Japanese brands could still affect Uniqlo in the Chinese market.</li>
<li>The Uniqlo brand resonates with Japan and a boycott of Japanese brands in China could have severe consequences to Uniqlo’s Chinese business.</li>
</ul>


A host of Japanese apparel brands are starting to reject cotton produced in the Xinjiang region.
Even though Fast Retailing is unlikely to stake a strong stand against the Xinjiang cotton controversy, actions by other Japanese brands could still affect Uniqlo in the Chinese market.
The Uniqlo brand resonates with Japan and a boycott of Japanese brands in China could have severe consequences to Uniqlo’s Chinese business.


China’s Boycott of Western Brands Could Extend to Japanese Brands Amidst Xinjiang Cotton Controversy

Japan

RYOHIN KEIKAKU CO., LTD. is a retailer and wholesaler of Mujirushi Ryohin brand products, which were originally a generic private-brand product.  The Company's product line includes knitwear, food, and household items

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Ryohin Keikaku (7453 JP)

Cainz Takes on Nitori with Tokyu Hands Takeover

Nitori and Muji have pretty much had the interiors market to themselves until now thanks to IKEA's slow rollout but new competition is coming from...

Michael Causton

Nitori and Muji: Cutting Prices as Inflation Nears

Japanese non-FMCG retailers are facing pressure to cut prices as consumers, under pressure from rising prices of basics like food. In home...

Michael Causton

Japan’s Boycott of Winter Olympics Could Be the Tipping Point

The relationship between the two countries was already reaching nervy levels, before Tokyo’s decision to snub the 2022 Winter Olympics. With the...

Oshadhi Kumarasiri

3Coins Proves a Hit in Pandemic and Moves into Food

Discount retail is booming in Japan and one of the winners is 3Coins, operated by fashion firm, Pal Group. While Pal suffers negatively from the...

Michael Causton

China’s Boycott of Western Brands Could Extend to Japanese Brands Amidst Xinjiang Cotton Controversy

A host of new Japanese apparel makers including Sanyo Shokai and TSI have recently become a part of a growing list of international companies to...

Oshadhi Kumarasiri

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