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>Rakuten still gets a lot of flak for its mobile business but its core e-commerce operation continues to improve.</li>
<li>Rakuten will launch Rakuten Mart this month,  an online supermarket but with Rakuten Ichiba vendors too.</li>
<li>Online food retailing is becoming a major source of competition with Amazon, Aeon and Seven &amp; I all investing heavily but Rakuten is holding its own.</li>
</ul>


Rakuten still gets a lot of flak for its mobile business but its core e-commerce operation continues to improve.
Rakuten will launch Rakuten Mart this month,  an online supermarket but with Rakuten Ichiba vendors too.
Online food retailing is becoming a major source of competition with Amazon, Aeon and Seven &amp; I all investing heavily but Rakuten is holding its own.


Podcast by Dom Cooke to explore big businesses, Business Breakdowns

Business Breakdowns

Podcast by Dom Cooke to explore big businesses

Learn how companies work from the people who know them best. We do deep research and interview industry veterans, investment professionals, and corporate executives to explain the inner workings of public stocks and private businesses. For each company, we break down their history, business model, financial statements, secret sauce, and bull/bear case. We believe every business has lessons to teach us and Breakdowns is here to highlight them. Learn more and stay up to date at www.joincolossus.com.

<ul><li>Rakuten is a Japanese conglomerate with a diverse portfolio of businesses, including e-commerce, finance, travel, and mobile telephony.</li><li>Founded during the late nineties global Internet boom, Rakuten has become a ubiquitous brand in Japan.</li><li>The loyalty point system has become a key feature of Rakuten's business model, connecting its various services together.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Rakuten is a Japanese conglomerate with a diverse portfolio of businesses, including e-commerce, finance, travel, and mobile telephony.Founded during the late nineties global Internet boom, Rakuten has become a ubiquitous brand in Japan.The loyalty point system has become a key feature of Rakuten's business model, connecting its various services together.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Rakuten: Rewiring Japan's Digital Economy - [Business Breakdowns, EP.182]

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kansai-electric-power-co-inc" target="_blank" data-smartkarma-citation="entities:18907:1" rel="noopener">Kansai Electric Power (9503 JP)</a> is looking to raise up to US$3.5bn via a primary offering and a sale of Treasury shares. Pricing date is between 26-29 November.</li>
<li>
<a href="https://www.smartkarma.com/entities/kansai-electric-power-co-inc" target="_blank" data-smartkarma-citation="entities:18907:1" rel="noopener">Kansai Electric Power (9503 JP)</a> is among the better performing stocks from the Electric Utilities industry and trades at higher valuations compared to its peers.</li>
<li>There will be a fair bit of passive buying with around 29% of the offering being bought at the time of settlement of the shares.</li>
</ul>



Kansai Electric Power (9503 JP) is looking to raise up to US$3.5bn via a primary offering and a sale of Treasury shares. Pricing date is between 26-29 November.

Kansai Electric Power (9503 JP) is among the better performing stocks from the Electric Utilities industry and trades at higher valuations compared to its peers.
There will be a fair bit of passive buying with around 29% of the offering being bought at the time of settlement of the shares.


KEPCO (9503 JP): Index Implications of US$3.5bn Primary + Secondary Offering

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Kansai Electric Power / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kansai-electric-power-co-inc" target="_blank" data-smartkarma-citation="entities:18907:1" rel="noopener">Kansai Electric Power (9503 JP)</a> plans to raise up to US$3.5bn (including over-allocation) to partly fund its investment plans.</li>
<li>In our earlier note, we talked about the placement and ran the deal through our ECM framework.</li>
<li>In this note, we talk about the updates and share price performance since then.</li>
</ul>



Kansai Electric Power (9503 JP) plans to raise up to US$3.5bn (including over-allocation) to partly fund its investment plans.
In our earlier note, we talked about the placement and ran the deal through our ECM framework.
In this note, we talk about the updates and share price performance since then.


Kansai Electric US$3.5bn Deal Updates - Has Delivered a Decent Correction, as Compared to past Deals

FineToday Holdings Co Ltd / Equity Capital Markets

<ul>
<li>CVC Capital is aiming to raise over US$500m, via selling some of its stake in <a href="https://www.smartkarma.com/entities/finetoday-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:44092:1" rel="noopener">FineToday Holdings Co Ltd (289A JP)</a> in Japan.</li>
<li>FineToday (FT) is a beauty and personal care company in Asia offering a range of products, including hair care, skin care and body care products.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>


CVC Capital is aiming to raise over US$500m, via selling some of its stake in FineToday Holdings Co Ltd (289A JP) in Japan.
FineToday (FT) is a beauty and personal care company in Asia offering a range of products, including hair care, skin care and body care products.
In this note, we talk about the not-so-positive aspects of the deal.


FineToday Pre-IPO - The Negatives - Growth and Margins Have Wavered

Japan

Rakuten Group, Inc. provides Internet services. The Company offers Internet finance services which including "Rakuten Card" and "Rakuten Bank". Rakuten Group also provides digital content services including electronic book services.

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Rakuten (4755 JP)

Rakuten Mart Launching This Month

Despite criticism of its mobile business, Rakuten's core e-commerce operation is thriving and set to launch Rakuten Mart, an online supermarket,...

Michael Causton

Rakuten: Rewiring Japan's Digital Economy - [Business Breakdowns, EP.182]

Rakuten is a Japanese Internet conglomerate known for its diverse range of services, unique loyalty point system, and strong presence in Japan,...

Business Breakdowns

KEPCO (9503 JP): Index Implications of US$3.5bn Primary + Secondary Offering

KEPCO is down 22.8% from the time of the announcement of the primary + secondary offering. The stock is now back to where it was at the start of...

Brian Freitas

Kansai Electric US$3.5bn Deal Updates - Has Delivered a Decent Correction, as Compared to past Deals

Kansai Electric Power (9503 JP) plans to raise up to US$3.5bn (including over-allocation) to partly fund its investment plans. In this note, we...

Sumeet Singh

FineToday Pre-IPO - The Negatives - Growth and Margins Have Wavered

CVC Capital is aiming to raise over US$500m, via selling some of its stake in FineToday Holdings Co Ltd (289A JP) in Japan. In this note, we talk...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Rakuten Mart Launching This Month

​Despite criticism of its mobile business, Rakuten's core e-commerce operation is thriving and set to launch Rakuten Mart, an online supermarket,...

Michael Causton

Rakuten: Rewiring Japan's Digital Economy - [Business Breakdowns, EP.182]

Rakuten is a Japanese Internet conglomerate known for its diverse range of services, unique loyalty point system, and strong presence in Japan,...

Business Breakdowns

KEPCO (9503 JP): Index Implications of US$3.5bn Primary + Secondary Offering

KEPCO is down 22.8% from the time of the announcement of the primary + secondary offering. The stock is now back to where it was at the start of...

Brian Freitas

Kansai Electric US$3.5bn Deal Updates - Has Delivered a Decent Correction, as Compared to past Deals

Kansai Electric Power (9503 JP) plans to raise up to US$3.5bn (including over-allocation) to partly fund its investment plans. In this note, we...

Sumeet Singh

FineToday Pre-IPO - The Negatives - Growth and Margins Have Wavered

CVC Capital is aiming to raise over US$500m, via selling some of its stake in FineToday Holdings Co Ltd (289A JP) in Japan. In this note, we talk...

Sumeet Singh

Despite criticism of its mobile business, Rakuten's core e-commerce operation is thriving and set to launch Rakuten Mart, an online supermarket,...