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

Zozo promised significant category expansion 18 months ago and it has delivered.Last year, the online mall added a dedicated footwear section complete with measuring tool and then a new section offering a large line up of DtoC brands.This Spring it will add cosmetics alongside yet another data collection tool, this time for skin analysis, as well as a new premium and luxury section with 70 brands.Zozo expects to become the biggest online cosmetics store within a year, a realistic goal (Zozo customers spend ¥82,200 a year on cosmetics, 2.2 times the average for Japan as a whole).In the meantime, GMVs and OP are improving strongly – while Zozo still has some headwinds in the form of competition and falling shipment values, the strong impetus from the consumer shift to digital, a decent management team, and its category and territory expansion bode well for the immediate future.

Zozo promised significant category expansion 18 months ago and it has delivered.Last year, the online mall added a dedicated footwear section complete with measuring tool and then a new section offering a large line up of DtoC brands.This Spring it will add cosmetics alongside yet another data collection tool, this time for skin analysis, as well as a new premium and luxury section with 70 brands.Zozo expects to become the biggest online cosmetics store within a year, a realistic goal (Zozo customers spend ¥82,200 a year on cosmetics, 2.2 times the average for Japan as a whole).In the meantime, GMVs and OP are improving strongly – while Zozo still has some headwinds in the form of competition and falling shipment values, the strong impetus from the consumer shift to digital, a decent management team, and its category and territory expansion bode well for the immediate future.

<a href="https://www.smartkarma.com/entities/rakuten-inc" target="_blank" data-smartkarma-citation="entities:31:1" rel="noopener">Rakuten Inc (4755 JP)</a>  posted a sharp improvement in sales at Rakuten Ichiba in 2020 as customers flocked to the e-commerce platform in lieu of shopping at physical stores. Based on our estimates, Rakuten and Amazon are pretty much neck and neck for leadership in e-commerce in Japan.
Going forward, Rakuten is hoping that the growth in cross-use of its e-commerce service by its new mobile subscriber base will continue as it works further to improve fulfilment reliability and coverage both alone and through its new joint venture with Japan Post.
In recognition of the increasing diversity of the company’s businesses, Rakuten will change its name to Rakuten Group from April.

Rakuten Inc (4755 JP)  posted a sharp improvement in sales at Rakuten Ichiba in 2020 as customers flocked to the e-commerce platform in lieu of shopping at physical stores. Based on our estimates, Rakuten and Amazon are pretty much neck and neck for leadership in e-commerce in Japan.
Going forward, Rakuten is hoping that the growth in cross-use of its e-commerce service by its new mobile subscriber base will continue as it works further to improve fulfilment reliability and coverage both alone and through its new joint venture with Japan Post.
In recognition of the increasing diversity of the company’s businesses, Rakuten will change its name to Rakuten Group from April.

Telco/Internet specialist

Kirk Boodry

Redex Research

Softbank has lifted its full-year guidance for revenue and operating profit after a second consecutive solid quarter, driven by growth in sales to enterprise customers and a smaller budget for coronavirus-related expenses. Looking past Q4, the outlook for FY21 appears positive despite anticipated revenue erosion from reductions in consumer mobile pricing. <a href="https://www.smartkarma.com/entities/softbank-corp" target="_blank" data-smartkarma-citation="entities:27445:1" rel="noopener">Softbank Corp (9434 JP)</a>  shares trade at a premium to the sector thanks to heavier Internet exposure from Z Holdings but this year it is delivering leading financial momentum too.

Softbank has lifted its full-year guidance for revenue and operating profit after a second consecutive solid quarter, driven by growth in sales to enterprise customers and a smaller budget for coronavirus-related expenses. Looking past Q4, the outlook for FY21 appears positive despite anticipated revenue erosion from reductions in consumer mobile pricing. Softbank Corp (9434 JP)  shares trade at a premium to the sector thanks to heavier Internet exposure from Z Holdings but this year it is delivering leading financial momentum too.  

Softbank Corp. Q3 20 Results: Full-Year Guidance up After Second Clear Financial Beat

Thematic (Sector/Industry)

With people staying at home, deliveries for e-commerce orders have a better chance of succeeding, helping failed delivery rates fall from 25% to just 11% in only five years. No wonder e-commerce and transport companies are posting higher profits.

With people staying at home, deliveries for e-commerce orders have a better chance of succeeding, helping failed delivery rates fall from 25% to just 11% in only five years. No wonder e-commerce and transport companies are posting higher profits.

E-Commerce Efficiency Marches on in Japan

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<div class="content-highlight">
The Asian OTT sector is one of the most attractive industries to be in the next five years. In this report, we highlight numerous major potential winners and discuss some of the most important factors impacting the OTT sector in Asia. There are three crucial trends that will impact the Asian OTT sector:
<ul>
<li>A surging growth of 5G services</li>
<li>Increased consolidations and partnerships especially among the global OTTs and local content providers/OTTs</li>
<li>Greater spending on higher quality contents in efforts to improve consumer retention</li>
</ul>
The main purpose of this report is as follows:
<ul>
<li>Identify the major players (both public &amp; private) in the OTT sector in Asia</li>
<li>Specify the key trends driving the Asian OTT industry</li>
<li>Provide an initial overview of the key companies in the Asian OTT industry</li>
</ul>
</div>


The Asian OTT sector is one of the most attractive industries to be in the next five years. In this report, we highlight numerous major potential winners and discuss some of the most important factors impacting the OTT sector in Asia. There are three crucial trends that will impact the Asian OTT sector:

A surging growth of 5G services
Increased consolidations and partnerships especially among the global OTTs and local content providers/OTTs
Greater spending on higher quality contents in efforts to improve consumer retention

The main purpose of this report is as follows:

Identify the major players (both public &amp; private) in the OTT sector in Asia
Specify the key trends driving the Asian OTT industry
Provide an initial overview of the key companies in the Asian OTT industry



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)

Zozo on the March Again

Zozo is back with a stronger, more cohesive and collegiate management team, clear focus and the backing of Softbank to make it happen. The future...

Michael Causton

Rakuten Surges in 2020

Rakuten's Ichiba online shopping platform had a great year based on early numbers coming from CEO Mikitani and looks to have plenty to look forward...

Michael Causton

Softbank Corp. Q3 20 Results: Full-Year Guidance up After Second Clear Financial Beat

Softbank has lifted its full-year guidance for revenue and operating profit after a second consecutive solid quarter and appears optimistic on the...

Kirk Boodry

E-Commerce Efficiency Marches on in Japan

Japanese e-commerce fulfilment efficiency is improving month to month, with delivery failure rates plummeting in the last year. The government and...

Michael Causton

Asian OTT Wars

The Asian OTT sector is one of the most attractive industries to be in the next five years. In this Smartkarma Original, we discuss some of the...

Douglas Kim

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