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>Sanyo Shokai has posted losses in every year since FY2016 despite promising a return to profit on an annual basis too.</li>
<li>Its latest 3-year plan is typically optimistic but, equally typically, lacks real substance as to just where this growth will come from.</li>
<li>Of all Japan's larger apparel firms, Sanyo Shokai has the least promising outlook and that is saying something.</li>
</ul>


Sanyo Shokai has posted losses in every year since FY2016 despite promising a return to profit on an annual basis too.
Its latest 3-year plan is typically optimistic but, equally typically, lacks real substance as to just where this growth will come from.
Of all Japan's larger apparel firms, Sanyo Shokai has the least promising outlook and that is saying something.


<ul>
<li>All of Japan's big apparel firms have radically restructured but there is a lot more work to be done.</li>
<li>Onward has done a great job of transitioning to e-commerce but this is not enough to sustain the business and provide new sources of growth.</li>
<li>Trading will improve but slowly and more dynamism is needed in brand development and marketing.</li>
</ul>


All of Japan's big apparel firms have radically restructured but there is a lot more work to be done.
Onward has done a great job of transitioning to e-commerce but this is not enough to sustain the business and provide new sources of growth.
Trading will improve but slowly and more dynamism is needed in brand development and marketing.


Japan Apparel Reset: Onward Looks to E-Commerce for Growth

<ul>
<li>Onward is proving adept at moving sales online even as its turnover drops dramatically as it restructures and slashes old stores – some 1,700 stores in two years. </li>
<li>It now wants to integrate the remaining stores better with online and targets 50% of sales from e-commerce within three years.</li>
<li>This won't be enough to offset lost sales at department stores but should mean improving returns for long-term investors.</li>
</ul>


Onward is proving adept at moving sales online even as its turnover drops dramatically as it restructures and slashes old stores – some 1,700 stores in two years. 
It now wants to integrate the remaining stores better with online and targets 50% of sales from e-commerce within three years.
This won't be enough to offset lost sales at department stores but should mean improving returns for long-term investors.


Onward: Moving to Showroom Stores and Click & Collect by 2024

Private Capital Markets

<ul>
<li>Baycrews is an unlisted fashion retailer but is proving highly disruptive to both competitors and online malls like <a href="https://www.smartkarma.com/entities/zozo-inc" target="_blank" data-smartkarma-citation="entities:18379:1" rel="noopener">ZOZO Inc (3092 JP)</a>.</li>
<li>It is making best use of staff knowledge and experience, an increasingly crucial asset in the competitive online fashion market, to create true omnichannel retailing.</li>
<li>As a result, it garners more than 70% of online sales from its own store, proving that the biggest competitor to Zozo is merchant direct sales, not other platforms.</li>
</ul>


Baycrews is an unlisted fashion retailer but is proving highly disruptive to both competitors and online malls like ZOZO Inc (3092 JP).
It is making best use of staff knowledge and experience, an increasingly crucial asset in the competitive online fashion market, to create true omnichannel retailing.
As a result, it garners more than 70% of online sales from its own store, proving that the biggest competitor to Zozo is merchant direct sales, not other platforms.


Baycrews Grows Online Sales to 50% of Turnover

Thematic (Sector/Industry)

<ul>
<li>Department stores are desperate to get back on track, having lost both the middle class at home and travellers from overseas. </li>
<li>There have been further squeezes on the middle class in the past 18 months and the <strong>average salary in 2020 stood at ¥4.24 million, just ¥180,000 more than in 1990.</strong>
</li>
<li>As a result, department stores are in a gold rush fervour to climb back upmarket and ply their wares to the rich. The problem is so is everyone else.</li>
</ul>


Department stores are desperate to get back on track, having lost both the middle class at home and travellers from overseas. 
There have been further squeezes on the middle class in the past 18 months and the average salary in 2020 stood at ¥4.24 million, just ¥180,000 more than in 1990.

As a result, department stores are in a gold rush fervour to climb back upmarket and ply their wares to the rich. The problem is so is everyone else.


Japanese Department Stores: Going After the Newly Wealthy

Japan

ONWARD HOLDINGS CO., LTD. manufactures men's ready-made suits, women's, and children's wear.  The Company has its own brands, Onward and KUMIKYOKU. Onward also manufactures sports goods, books, stationery, cosmetics, art decoration.

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

Onward Holdings (8016 JP)

Sanyo Shokai: More Unfulfilled Promises

Sanyo Shokai has promised a return to profit for more than five years. There seems to be more chance than for years for this to happen but it...

Michael Causton

Japan Apparel Reset: Onward Looks to E-Commerce for Growth

Onward Holdings has slashed stores by more than 1,700 and invested in e-commerce but this is not enough to deliver sustained growth. More work is...

Michael Causton

Onward: Moving to Showroom Stores and Click & Collect by 2024

Onward has closed 1,700 stores in two years and still needs to close more but its close integration of remaining stores and online should lead to...

Michael Causton

Baycrews Grows Online Sales to 50% of Turnover

Baycrews is leading the fashion sector on developing more direct online sales, pulling traffic away from the big online malls like Zozo. This is...

Michael Causton

Japanese Department Stores: Going After the Newly Wealthy

Japanese department stores are waking up to the fact that the middle class is no longer their natural customer. The renewed focus on the wealthy is...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)