Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

<ul><li>FY03/22 revenue decreased by JPY3.2bn, cost of revenue by JPY1.3bn, and SG&A expenses by JPY1.9bn due to new accounting standards.</li><li>Q1 FY03/25 consolidated revenue grew 10.4% YoY, driven by increased customer count and optimized pricing, despite high raw material prices.</li><li>The company had 308 stores at end-Q1 FY03/25, launched new brands, and expanded internationally with a store in Bangkok.</li></ul>

FY03/22 revenue decreased by JPY3.2bn, cost of revenue by JPY1.3bn, and SG&A expenses by JPY1.9bn due to new accounting standards.Q1 FY03/25 consolidated revenue grew 10.4% YoY, driven by increased customer count and optimized pricing, despite high raw material prices.The company had 308 stores at end-Q1 FY03/25, launched new brands, and expanded internationally with a store in Bangkok.

United Arrows (7606 JP): Q1 FY03/25 flash update

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. 

<ul>
<li>The premium fashion market in Japan is growing again and it is not just department stores.</li>
<li>One of the leader is United Arrows, whose main urban chains are on a roll, up double digits, but is being held back by lower priced suburban chains.</li>
<li>It will now focus more  on the premium market through aggressive category expansion, new brands and M&amp;A.</li>
</ul>


The premium fashion market in Japan is growing again and it is not just department stores.
One of the leader is United Arrows, whose main urban chains are on a roll, up double digits, but is being held back by lower priced suburban chains.
It will now focus more  on the premium market through aggressive category expansion, new brands and M&amp;A.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/united-arrows-ltd" target="_blank" data-smartkarma-citation="entities:4887:1" rel="noopener">United Arrows (7606 JP)</a> is an industry leader in operating clothing select shops in Japan, and is the eighth largest apparel company in the country in terms of sales value.</li>
<li>In FY03/23, United Arrows reported revenue of JPY130.1bn, operating profit of JPY6.4bn, recurring profit of JPY6.9bn, and net income attributable to owners of the parent of JPY4.3bn</li>
<li>In May 2023, the company announced its long-term vision ending in FY03/33 and medium-term management plan ending in FY03/26 as the first step.</li>
</ul>



United Arrows (7606 JP) is an industry leader in operating clothing select shops in Japan, and is the eighth largest apparel company in the country in terms of sales value.
In FY03/23, United Arrows reported revenue of JPY130.1bn, operating profit of JPY6.4bn, recurring profit of JPY6.9bn, and net income attributable to owners of the parent of JPY4.3bn
In May 2023, the company announced its long-term vision ending in FY03/33 and medium-term management plan ending in FY03/26 as the first step.


Thematic (Sector/Industry)

<ul>
<li>The rebound in tourist numbers to Japan after Covid was inevitable given the latent demand and ongoing popularity of the country as a destination.</li>
<li>But more surprising has been the huge diversity of nationalities, making up for the lag in Chinese visitors, boosting traffic at key retailers (as listed below).</li>
<li>Also new is the higher spend per visitor thanks to the cheap Yen, boosting retailers across the spectrum. Data from Google and Qunar suggests much more growth to come.</li>
</ul>


The rebound in tourist numbers to Japan after Covid was inevitable given the latent demand and ongoing popularity of the country as a destination.
But more surprising has been the huge diversity of nationalities, making up for the lag in Chinese visitors, boosting traffic at key retailers (as listed below).
Also new is the higher spend per visitor thanks to the cheap Yen, boosting retailers across the spectrum. Data from Google and Qunar suggests much more growth to come.


Japan Tourist Spending Per Head up 50% on 2019 Amid Record Arrivals

<ul>
<li>After a bumper bonus during Covid, the fashion sector saw calmer spending in the last 18 months as the big return to shops led to more muted growth online. </li>
<li>The overall EC fashion market grew around 4-7% depending on how you measure it, but online market share actually fell as people went back to shops.</li>
<li>This in-depth review highlights the key trends in the sector as well as the winners by sales growth among retailers and fashion brands.</li>
</ul>


After a bumper bonus during Covid, the fashion sector saw calmer spending in the last 18 months as the big return to shops led to more muted growth online. 
The overall EC fashion market grew around 4-7% depending on how you measure it, but online market share actually fell as people went back to shops.
This in-depth review highlights the key trends in the sector as well as the winners by sales growth among retailers and fashion brands.


Fashion E-Commerce: Physical Stores Grow Faster than Online in Japan

Japan

UNITED ARROWS LTD., operates fashion stores, specializing in casual clothing and accessory for men and women.  The Company has stores nationwide.  Main forces are United Arrows, Green Label Relaxing and Chrome Hearts.

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United Arrows (7606 JP)