Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

Independent Leading Corporate Governance Research

Metrical Inc

METRICAL INC. is an independent leading Corporate Governance research firm in Japan where Corporate Governance is increasingly recognized as an important element on corporate management in these days. Thus, CG research and solutions would become an essential component of global capital markets and play important to contribute to transparency of the markets and maximize shareholders’ value in Japan. 

METRICAL INC. provides Corporate Governance research and analysis including rating services, and  also offers investment research and IR services with solutions and customized profound research on CG and IR issues.

<ul>
<li>Since the total shares held by Founder Family, trust Banks and FamilyMart exceed 50%, this director appointment proposal will pass unless the shareholders held by the trust banks oppose it.</li>
<li>Challenges will be noted in the function of the nominating committee, which nominated directors with few elements falling under the skills item, and in the disclosure of the skills matrix.</li>
<li>While PPIH's free cash flow is ample and growth is expected, shareholder returns and governance remain challenges, but with overseas investor equity exceeding 30%, much improvement is expected in future.</li>
</ul>


Since the total shares held by Founder Family, trust Banks and FamilyMart exceed 50%, this director appointment proposal will pass unless the shareholders held by the trust banks oppose it.
Challenges will be noted in the function of the nominating committee, which nominated directors with few elements falling under the skills item, and in the disclosure of the skills matrix.
While PPIH's free cash flow is ample and growth is expected, shareholder returns and governance remain challenges, but with overseas investor equity exceeding 30%, much improvement is expected in future.


Governance and Shareholder Return Are Likely to Improve, and Investors Continue to Pay Attention

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>Inflation is encouraging customers to seek out discount chains, led by PPI’s Don Quijote. </li>
<li>Backed by expansion of private brand lines and more food lines, as well as higher sales to tourists, PPI has been posting record results.</li>
<li>There continues to be high expectations for further growth at home and abroad.</li>
</ul>


Inflation is encouraging customers to seek out discount chains, led by PPI’s Don Quijote. 
Backed by expansion of private brand lines and more food lines, as well as higher sales to tourists, PPI has been posting record results.
There continues to be high expectations for further growth at home and abroad.


Customers Flocking to Donki for Both Discounted Daily Necessities and Tourist Toys

<ul>
<li>There were many sceptics when Don Quijote bought Uny given that no other GMS retailer was performing well.</li>
<li>Today, Uny is finding new relevance thanks to the adoption of merchandising and marketing from Don Quijote.</li>
<li>But the real secret ingredient is, as in Donki stores, giving staff the freedom and responsibility they always wanted – including profitability of each store.</li>
</ul>


There were many sceptics when Don Quijote bought Uny given that no other GMS retailer was performing well.
Today, Uny is finding new relevance thanks to the adoption of merchandising and marketing from Don Quijote.
But the real secret ingredient is, as in Donki stores, giving staff the freedom and responsibility they always wanted – including profitability of each store.


PPI Succeeds with Uny Using Donki Know-How

<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?

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)

Governance and Shareholder Return Are Likely to Improve, and Investors Continue to Pay Attention

I would like to discuss the issues on the August 16 Nikkei article, “Pan Pacific International Holdings Appoints 22-Year-Old Son of Yasuda's...

Metrical Inc

Customers Flocking to Donki for Both Discounted Daily Necessities and Tourist Toys

Inflation drives customers to discount chains like PPI's Don Quijote but the latter also benefits from the tourist boom, leading to record results...

Michael Causton

PPI Succeeds with Uny Using Donki Know-How

Don Quijote's acquisition of Uny has led to a resurgence in the retailer's success through innovative merchandising and empowering staff with...

Michael Causton

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Governance and Shareholder Return Are Likely to Improve, and Investors Continue to Pay Attention

I would like to discuss the issues on the August 16 Nikkei article, “Pan Pacific International Holdings Appoints 22-Year-Old Son of Yasuda's...

Metrical Inc

Customers Flocking to Donki for Both Discounted Daily Necessities and Tourist Toys

​Inflation drives customers to discount chains like PPI's Don Quijote but the latter also benefits from the tourist boom, leading to record results...

Michael Causton

PPI Succeeds with Uny Using Donki Know-How

​Don Quijote's acquisition of Uny has led to a resurgence in the retailer's success through innovative merchandising and empowering staff with...

Michael Causton

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

Inflation drives customers to discount chains like PPI's Don Quijote but the latter also benefits from the tourist boom, leading to record results...

Don Quijote's acquisition of Uny has led to a resurgence in the retailer's success through innovative merchandising and empowering staff with...