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. 

Equity Bottom-Up

<ul>
<li>Oisix is planning to double its sales by 2030 and looks set to reach this targets early through both organic expansion and M&amp;A.</li>
<li>The recent acquisition of several B2B and other companies will help sales grow 72% this year alone.</li>
<li>But the longer-term consumer-facing business continues to look positive thanks to continued demand for convenience meal kits and home delivery of quality foods. Profit though remains anaemic.</li>
</ul>


Oisix is planning to double its sales by 2030 and looks set to reach this targets early through both organic expansion and M&amp;A.
The recent acquisition of several B2B and other companies will help sales grow 72% this year alone.
But the longer-term consumer-facing business continues to look positive thanks to continued demand for convenience meal kits and home delivery of quality foods. Profit though remains anaemic.


Thematic (Sector/Industry)

<ul>
<li>The following is an in-depth review of the Japanese retail sector in 2021-22 and is designed to provide a complete overview for any investor in Japanese retail/consumer markets.</li>
<li>FY2021-22 proved a rebound year for retailers at the sector level. But on a company by company basis, there has been radical divergence between the best and the rest. </li>
<li>We look at the reasons for this divergence and the implications for Japanese retail and consumer firms in the years ahead.</li>
</ul>


The following is an in-depth review of the Japanese retail sector in 2021-22 and is designed to provide a complete overview for any investor in Japanese retail/consumer markets.
FY2021-22 proved a rebound year for retailers at the sector level. But on a company by company basis, there has been radical divergence between the best and the rest. 
We look at the reasons for this divergence and the implications for Japanese retail and consumer firms in the years ahead.


Japanese Retailing 2021-22: What's Really Going on and What's Next?

<ul>
<li>Core inflation rates remain stubbornly high and real wages are still falling. </li>
<li>Surveys suggest one more major round of price hikes in October but the government still thinks prices will stabilise below its 2% target by the end of the year.</li>
<li>The increases are lowering consumer confidence – bad news for most retailers, although major discount chains are making hay while the sun, well, doesn’t shine.</li>
</ul>


Core inflation rates remain stubbornly high and real wages are still falling. 
Surveys suggest one more major round of price hikes in October but the government still thinks prices will stabilise below its 2% target by the end of the year.
The increases are lowering consumer confidence – bad news for most retailers, although major discount chains are making hay while the sun, well, doesn’t shine.


Japanese Prices Rise Again; 60% of Consumers Feeling the Pinch and Looking for Better Value

<ul>
<li>E-Commerce growth slowed marginally as the sector consolidated post-Covid but remained higher than any other channel in 2022. </li>
<li>By 2025-26, it will be the largest channel, overtaking convenience stores – but Japan’s continuing support for retail stores means that omnichannel will be the main model.</li>
<li>As a result, the majority of transactions will be researched, initiated, and fulfilled through a combination of online and physical stores.</li>
</ul>


E-Commerce growth slowed marginally as the sector consolidated post-Covid but remained higher than any other channel in 2022. 
By 2025-26, it will be the largest channel, overtaking convenience stores – but Japan’s continuing support for retail stores means that omnichannel will be the main model.
As a result, the majority of transactions will be researched, initiated, and fulfilled through a combination of online and physical stores.


E-Commerce in Japan: Omnichannel Consolidation

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments - <a href="https://www.smartkarma.com/entities/ecopro-materials" target="_blank" data-smartkarma-citation="entities:36806:1" rel="noopener">EcoPro Materials (ECO123 KS)</a>, <a href="https://www.smartkarma.com/entities/wuxi-xdc-cayman-inc" target="_blank" data-smartkarma-citation="entities:39917:1" rel="noopener">WuXi XDC Cayman (1877628D HK)</a>, <a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> and <a href="https://www.smartkarma.com/entities/cainiao-smart-logistics-network" target="_blank" data-smartkarma-citation="entities:36859:1" rel="noopener">Cainiao Smart Logistics Network (1437124D HK)</a> IPOs</li>
<li>Event-Driven developments - <a href="https://www.smartkarma.com/entities/eoflow-co-ltd" target="_blank" data-smartkarma-citation="entities:36100:1" rel="noopener">Eoflow (294090 KS)</a>, <a href="https://www.smartkarma.com/entities/benesse-holdings-inc" target="_blank" data-smartkarma-citation="entities:12877:1" rel="noopener">Benesse Holdings (9783 JP)</a>, <a href="https://www.smartkarma.com/entities/shidax-corp" target="_blank" data-smartkarma-citation="entities:7754:1" rel="noopener">Shidax Corp (4837 JP)</a>, <a href="https://www.smartkarma.com/entities/ps-mitsubishi-construction" target="_blank" data-smartkarma-citation="entities:16582:1" rel="noopener">Ps Mitsubishi Construction (1871 JP)</a>, <a href="https://www.smartkarma.com/entities/hollysys-automation-technologies" target="_blank" data-smartkarma-citation="entities:26078:1" rel="noopener">Hollysys Automation Technologies (HOLI US)</a>, <a href="https://www.smartkarma.com/entities/irc-ltd" target="_blank" data-smartkarma-citation="entities:20649:1" rel="noopener">Irc Ltd (1029 HK)</a>.        </li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments - EcoPro Materials (ECO123 KS), WuXi XDC Cayman (1877628D HK), Midea Group Co Ltd A (000333 CH) and Cainiao Smart Logistics Network (1437124D HK) IPOs
Event-Driven developments - Eoflow (294090 KS), Benesse Holdings (9783 JP), Shidax Corp (4837 JP), Ps Mitsubishi Construction (1871 JP), Hollysys Automation Technologies (HOLI US), Irc Ltd (1029 HK).        


Weekly Deals Digest (12 Nov) - Eoflow, Benesse, Shidax, PS Mitsubishi, IRC, Hollysys, WuXi XDC

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 Targeting ¥300 Billion by 2030

Oisix aims to double sales by 2030, with recent acquisitions boosting sales by 72% this year. Consumer demand for meal kits and quality food...

Michael Causton

Japanese Retailing 2021-22: What's Really Going on and What's Next?

There is increasing divergence between the winners and losers in Japanese retailing and the following in-depth review looks at performance in the...

Michael Causton

Japanese Prices Rise Again; 60% of Consumers Feeling the Pinch and Looking for Better Value

Japanese consumer markets have three big trends: higher prices/squeezed incomes, doubling of single households and more people feeling the pinch....

Michael Causton

E-Commerce in Japan: Omnichannel Consolidation

E-commerce growth in Japan remains strong post-Covid, set to overtake convenience stores by 2025-26, with omnichannel model becoming dominant for...

Michael Causton

Weekly Deals Digest (12 Nov) - Eoflow, Benesse, Shidax, PS Mitsubishi, IRC, Hollysys, WuXi XDC

Last week, notable developments occurred in Event-Driven (Eoflow, Benesse, Shidax, PS Mitsubishi, CMIC, Cybernet, IRC, Hollysys, OreCorp, Tietto,...

Arun George

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52-week Range

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Oisix Targeting ¥300 Billion by 2030

​Oisix aims to double sales by 2030, with recent acquisitions boosting sales by 72% this year. Consumer demand for meal kits and quality food...

Michael Causton

Japanese Retailing 2021-22: What's Really Going on and What's Next?

There is increasing divergence between the winners and losers in Japanese retailing and the following in-depth review looks at performance in the...

Michael Causton

Japanese Prices Rise Again; 60% of Consumers Feeling the Pinch and Looking for Better Value

Japanese consumer markets have three big trends: higher prices/squeezed incomes, doubling of single households and more people feeling the pinch....

Michael Causton

E-Commerce in Japan: Omnichannel Consolidation

​E-commerce growth in Japan remains strong post-Covid, set to overtake convenience stores by 2025-26, with omnichannel model becoming dominant for...

Michael Causton

Weekly Deals Digest (12 Nov) - Eoflow, Benesse, Shidax, PS Mitsubishi, IRC, Hollysys, WuXi XDC

Last week, notable developments occurred in Event-Driven (Eoflow, Benesse, Shidax, PS Mitsubishi, CMIC, Cybernet, IRC, Hollysys, OreCorp, Tietto,...

Arun George

Oisix aims to double sales by 2030, with recent acquisitions boosting sales by 72% this year. Consumer demand for meal kits and quality food...

E-commerce growth in Japan remains strong post-Covid, set to overtake convenience stores by 2025-26, with omnichannel model becoming dominant for...