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

Pan Pacific International Holdings / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pan-pacific-international-holdings-corporation" target="_blank" data-smartkarma-citation="entities:13475:1" rel="noopener">Pan Pacific International Holdings (7532 JP)'</a> Don Quijote stores rebounded strongly from Covid, despite the lack of inbound tourists, reflecting the hard work done to update stores and merchandise.</li>
<li>This innovation continues and Don Quijote stores recently even began offering several new private brand cosmetics ranges and new electronics, including a new small footprint freezer. </li>
<li>The company expects 15% of domestic sales from private brands alone but rising to 25% in the near term, with significant upside for operating profits.</li>
</ul>



Pan Pacific International Holdings (7532 JP)' Don Quijote stores rebounded strongly from Covid, despite the lack of inbound tourists, reflecting the hard work done to update stores and merchandise.
This innovation continues and Don Quijote stores recently even began offering several new private brand cosmetics ranges and new electronics, including a new small footprint freezer. 
The company expects 15% of domestic sales from private brands alone but rising to 25% in the near term, with significant upside for operating profits.


More Profit for Donki as It Expands Private Label, Even Freezers

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>
<a href="https://www.smartkarma.com/entities/pan-pacific-international-holdings-corporation" target="_blank" data-smartkarma-citation="entities:13475:1" rel="noopener">Pan Pacific International Holdings (7532 JP)</a> is Japan’s largest discount retailer but also a major GMS operator. </li>
<li>It is on track to achieve consolidated sales around ¥1.87 trillion by the end of the year, 85% of this in Japan despite the lack of inbound tourists.</li>
<li>PPI also has a great retail proposition in Asia which is proving popular. The long-term outlook at home and overseas looks solid.</li>
</ul>



Pan Pacific International Holdings (7532 JP) is Japan’s largest discount retailer but also a major GMS operator. 
It is on track to achieve consolidated sales around ¥1.87 trillion by the end of the year, 85% of this in Japan despite the lack of inbound tourists.
PPI also has a great retail proposition in Asia which is proving popular. The long-term outlook at home and overseas looks solid.


Donki Back with a Plan at Home and Overseas

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 href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" rel="noopener">Seven &amp; I Holdings (3382 JP)</a> did not dispute the <a href="https://www3.nhk.or.jp/news/html/20241119/k10014643321000.html" target="_blank" rel="noopener">NHK article’s</a> claims that the founding family aims to raise buyout funds by the end of the fiscal year.</li>
<li>Since 13 November, there have been conflicting press reports on the MBO offer price. The NHK article’s implied offer price of JPY3,082 seems the most credible. </li>
<li>The MBO’s aggressive completion timeline pressures <a href="https://www.smartkarma.com/entities/alimentation-couche-tard-inc" target="_blank" data-smartkarma-citation="entities:25103:1" rel="noopener">Alimentation Couche-Tard (ATD CN)</a> to respond by either overbidding, working with the founding family at the back-end or walking away.</li>
</ul>



Seven &amp; I Holdings (3382 JP) did not dispute the NHK article’s claims that the founding family aims to raise buyout funds by the end of the fiscal year.
Since 13 November, there have been conflicting press reports on the MBO offer price. The NHK article’s implied offer price of JPY3,082 seems the most credible. 
The MBO’s aggressive completion timeline pressures Alimentation Couche-Tard (ATD CN) to respond by either overbidding, working with the founding family at the back-end or walking away.


Seven & I Holdings (3382 JP): Evaluating the Potential MBO

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pan-pacific-international-holdings-corporation" target="_blank" data-smartkarma-citation="entities:13475:1" rel="noopener">Pan Pacific International Holdings (7532 JP)</a>  is one of Japan’s top retailers whose core business is the Don Quijote discount store chain.</li>
<li>The company recorded FY06/23 sales of JPY1,936.8bn, operating profit of JPY105.3bn, recurring profit of JPY111.0bn, and net income attributable to owners of the parent of JPY66.2bn.</li>
<li>Pan Pacific International Holdings Corporation has announced a revision to its full-year earnings forecast for FY06/24, which was announced on August 16, 2023.</li>
</ul>



Pan Pacific International Holdings (7532 JP)  is one of Japan’s top retailers whose core business is the Don Quijote discount store chain.
The company recorded FY06/23 sales of JPY1,936.8bn, operating profit of JPY105.3bn, recurring profit of JPY111.0bn, and net income attributable to owners of the parent of JPY66.2bn.
Pan Pacific International Holdings Corporation has announced a revision to its full-year earnings forecast for FY06/24, which was announced on August 16, 2023.


Pan Pacific International Holdings (7532): Revision to Full-Year FY06/24 Company Forecast

Japan

Pan Pacific International Holdings Corporation operates discount stores which sell consumer electronics, daily necessities, groceries, watches, and sporting goods. The Company mostly operates small scale stores based in Tokyo.

Pan Pacific International Holdings (7532 JP)

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Pan Pacific International Holdings (7532 JP)

More Profit for Donki as It Expands Private Label, Even Freezers

Pan Pacific's Don Quijote chain managed to improve same-store sales in the past year despite previously relying on inbound tourists for 10% of...

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

Donki Back with a Plan at Home and Overseas

Don Quijote has been spurned by some investors recently but this is a mistake. PPIH remains at the heart of Japan's evolving discount boom and its...

Michael Causton

Seven & I Holdings (3382 JP): Evaluating the Potential MBO

The NHK article increases the credibility of the MBO. The completion time pressures Couche-Tard to respond by either overbidding, working on a...

Arun George

Pan Pacific International Holdings (7532): Revision to Full-Year FY06/24 Company Forecast

Pan Pacific International Holdings is a top Japanese retailer known for its Don Quijote discount store chain, with revised earnings forecast for...

Shared Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

More Profit for Donki as It Expands Private Label, Even Freezers

Pan Pacific's Don Quijote chain managed to improve same-store sales in the past year despite previously relying on inbound tourists for 10% of...

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

Donki Back with a Plan at Home and Overseas

Don Quijote has been spurned by some investors recently but this is a mistake. PPIH remains at the heart of Japan's evolving discount boom and its...

Michael Causton

Seven & I Holdings (3382 JP): Evaluating the Potential MBO

The NHK article increases the credibility of the MBO. The completion time pressures Couche-Tard to respond by either overbidding, working on a...

Arun George

Pan Pacific International Holdings (7532): Revision to Full-Year FY06/24 Company Forecast

​Pan Pacific International Holdings is a top Japanese retailer known for its Don Quijote discount store chain, with revised earnings forecast for...

Shared Research

Pan Pacific International Holdings is a top Japanese retailer known for its Don Quijote discount store chain, with revised earnings forecast for...