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

While Nissen and <a href="https://www.smartkarma.com/entities/1349" target="_blank" data-smartkarma-citation="entities:1349:1">Senshukai (8165 JP)</a> have hit new lows in the past five years, <a href="https://www.smartkarma.com/entities/5053" target="_blank" data-smartkarma-citation="entities:5053:1">Belluna (9997 JP)</a> has gone from strength to strength by sticking with printed catalogues and tying these to e-commerce and retail store expansion.
The company's strategy is also helped by the core customer demographic being women over the age of 50, one of the few population segments that is still growing.
As a result, group sales have risen by 28.8% in five years and operating profit has almost doubled from ¥7.8 billion to ¥13 billion.
The acquisition of Sagami, a kimono retailer that suffered from lack of attention under Uny's management, could also result in a boost to profits in the next year.

While Nissen and Senshukai (8165 JP) have hit new lows in the past five years, Belluna (9997 JP) has gone from strength to strength by sticking with printed catalogues and tying these to e-commerce and retail store expansion.
The company's strategy is also helped by the core customer demographic being women over the age of 50, one of the few population segments that is still growing.
As a result, group sales have risen by 28.8% in five years and operating profit has almost doubled from ¥7.8 billion to ¥13 billion.
The acquisition of Sagami, a kimono retailer that suffered from lack of attention under Uny's management, could also result in a boost to profits in the next year.

Belluna: Growing by Selling Gentility to the Expanding Older Market in Japan

'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

ja research

ja research is an independent research platform focused exclusively on Japanese equities. Leveraging data and graphic analysis provided by Japan Analytics, we provide insights on small and medium-sized companies that have been ignored by the sell-side as well as challenging conventional wisdom on larger companies. We also offer analyst and corporate access, the latter with translation if required. 

Thematic (Sector/Industry)

A recent Bloomberg article (<a href="https://www.bloomberg.com/news/articles/2018-07-24/the-other-earnings-season-small-cap-zombies-go-nowhere-but-up" target="_blank">https://www.bloomberg.com/news/articles/2018-07-24/the-other-earnings-season-small-cap-zombies-go-nowhere-but-up</a>) pointed out that, in the US, one-third of Russell 2000 companies are money-losing, but so far this year have out-performed profitable companies by 5.3% this year. The article included a chart from The Leuthold Group showing the loss-making percentage for small caps since 1995.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/059/020/original/File%202018-07-26%2012%2054%2030.jpeg?1532605813" class="editor-image img-responsive" data-smartkarma-image-id="59020"></figure><blockquote>“The past nine years’ extremely loose monetary policy has kept alive corporate…</blockquote>

A recent Bloomberg article (https://www.bloomberg.com/news/articles/2018-07-24/the-other-earnings-season-small-cap-zombies-go-nowhere-but-up) pointed out that, in the US, one-third of Russell 2000 companies are money-losing, but so far this year have out-performed profitable companies by 5.3% this year. The article included a chart from The Leuthold Group showing the loss-making percentage for small caps since 1995.“The past nine years’ extremely loose monetary policy has kept alive corporate…

Japan: Fewer Zombies than the Russell 2000

Japan

SAGAMI Co., Ltd. operates a store chain specialized in kimonos and related goods based in Yokohama.  The Company also sells precious stones, women's apparels and furs.  The Company belongs to Uny group.

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Sagami Co Ltd (8201 JP)

Belluna: Growing by Selling Gentility to the Expanding Older Market in Japan

While Nissen and Senshukai (8165 JP) have hit new lows in the past five years, Belluna (9997 JP) has gone from strength to strength by sticking...

Michael Causton

Japan: Fewer Zombies than the Russell 2000

A recent Bloomberg article (https://www.bloomberg.com/news/articles/2018-07-24/the-other-earnings-season-small-cap-zombies-go-nowhere-but-up)...

Campbell Gunn

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