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)

The department store sector witnessed a small drop in sales in FY2018 but, considering the large number of closures and conversions, this was a solid result and reflective of the continued support for the format from wealthy Japanese and inbound tourists.
However, only cosmetics and accessories floors performed well while the important apparel category continued to decline sharply. Food floors also suffered a set back last year.
However, the overall data belies a much more positive outlook for the leading stores and chains.
After 20 years of dithering, management has come to a consensus that taking control of sales floors – and becoming real retailers again – is good for growth and especially the bottom line. Department stores will never deliver market leading growth but they could offer investors an opportunity if OP rises significantly. The building blocks are at least being put in place that could make this happen.
As well as this review of the sector, we have also posted an update on the top four department store firms and their medium-term strategies (<a href="https://www.smartkarma.com/insights/hell-will-freeze-over-and-some-japanese-department-stores-will-increase-opm" target="_blank" rel="noopener">Hell Will Freeze over and (Some) Japanese Department Stores Will Increase OPM</a>).

The department store sector witnessed a small drop in sales in FY2018 but, considering the large number of closures and conversions, this was a solid result and reflective of the continued support for the format from wealthy Japanese and inbound tourists.
However, only cosmetics and accessories floors performed well while the important apparel category continued to decline sharply. Food floors also suffered a set back last year.
However, the overall data belies a much more positive outlook for the leading stores and chains.
After 20 years of dithering, management has come to a consensus that taking control of sales floors – and becoming real retailers again – is good for growth and especially the bottom line. Department stores will never deliver market leading growth but they could offer investors an opportunity if OP rises significantly. The building blocks are at least being put in place that could make this happen.
As well as this review of the sector, we have also posted an update on the top four department store firms and their medium-term strategies (Hell Will Freeze over and (Some) Japanese Department Stores Will Increase OPM).

Japanese Department Stores 2018-19: Taking New Risks Creates Opportunity

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Japanese and Asian equity long/short strategies

Uzabase

Specialising in Japanese and Asian equity long/short strategies with a focus on rigorous, but targeted quantitative analysis to temper evaluations of company strategy, potential and vision. At Uzabase, our team of analysts provides coverage of industry dynamics with a local Asian flavour on Speeda, our financial information platform. Going forward we are aiming to channel our focus toward thematic research on emerging industries and company research.

Equity Bottom-Up

With the expiration of its eighteen-month deadline approaching in Mar 2017, Toshiba awaits the Tokyo Stock Exchange’s (TSE) final decision which will determine if it continues trading as a listed entity. A probe into the bourse’s recent history suggests that the company stands a good chance to get off the hook, provided the implementation of effective measures addressing the remaining loopholes in compliance and affiliated company management, highlighted in the TSE’s latest review in Dec 2016, is successful. With a lot at stake, not just limited to a delisting, the company is yet to reveal details on its action plan. However the big question on whether Toshiba will secure its listing in the aftermath of an impending financial scandal, and how, awaits an answer over the next three months.

With the expiration of its eighteen-month deadline approaching in Mar 2017, Toshiba awaits the Tokyo Stock Exchange’s (TSE) final decision which will determine if it continues trading as a listed entity. A probe into the bourse’s recent history suggests that the company stands a good chance to get off the hook, provided the implementation of effective measures addressing the remaining loopholes in compliance and affiliated company management, highlighted in the TSE’s latest review in Dec 2016, is successful. With a lot at stake, not just limited to a delisting, the company is yet to reveal details on its action plan. However the big question on whether Toshiba will secure its listing in the aftermath of an impending financial scandal, and how, awaits an answer over the next three months.

Japan

MATSUYA CO., LTD. operates a chain of supermarkets in and near Nagano Prefecture.  The Company sells food, foodstuffs, household goods, and clothes.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Matsuya Co Ltd (7452 JP)

Japanese Department Stores 2018-19: Taking New Risks Creates Opportunity

The department store sector witnessed a small drop in sales in FY2018 but, considering the large number of closures and conversions, this was a...

Michael Causton

Toshiba: On or Off Alert by March?

With the expiration of its eighteen-month deadline approaching in Mar 2017, Toshiba awaits the Tokyo Stock Exchange’s (TSE) final decision which...

Mio Kato

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)