Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

Japanese online grocery delivery service provider <a href="https://www.smartkarma.com/entities/oisix-ra-daichi-inc" target="_blank" data-smartkarma-citation="entities:10145:1" rel="noopener">Oisix Ra Daichi (3182 JP)</a>  <a href="https://www2.tse.or.jp/disc/31820/140120200409491444.pdf" target="_blank" rel="noopener">confirmed on 30th March</a> that it had received approval to move from the Mothers market to the First Section of the Tokyo Stock Exchange as of 9th April. <div>
TSE1 reassignment triggers inclusion into the TOPIX Index and we expect that the inclusion event will be at the close of trading 28th May 2020.
With Japan going into lock down, online grocery delivery services are experiencing a spike in demand and understandably, such e-commerce businesses have outperformed the broader market in recent weeks. 
In this insight, we take a look at the parameters of the TOPIX Inclusion event and the fundamentals of the company to evaluate if there is potential for further upside to this stock.
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Japanese online grocery delivery service provider Oisix Ra Daichi (3182 JP)  confirmed on 30th March that it had received approval to move from the Mothers market to the First Section of the Tokyo Stock Exchange as of 9th April. 
TSE1 reassignment triggers inclusion into the TOPIX Index and we expect that the inclusion event will be at the close of trading 28th May 2020.
With Japan going into lock down, online grocery delivery services are experiencing a spike in demand and understandably, such e-commerce businesses have outperformed the broader market in recent weeks. 
In this insight, we take a look at the parameters of the TOPIX Inclusion event and the fundamentals of the company to evaluate if there is potential for further upside to this stock.


TOPIX Inclusion: Oisix Ra Daichi (3182 JP)

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. 

Thematic (Sector/Industry)

The apparel and fashion market contracted slightly last year and no single format was immune to the tougher trading environment – even the online channel.
The large store formats suffered the worst but a number of major specialty chains also posted lower sales. In e-commerce, even <a href="https://www.smartkarma.com/entities/zozo-inc" target="_blank" data-smartkarma-citation="entities:18379:1" rel="noopener">ZOZO Inc (3092 JP)</a> suffered its lowest sales growth in several years.
The reasons are clear: consumption of apparel fell again last year while other categories like home interiors, food and communications rose.
At the same time, the leading specialty retailers face saturation in some product categories and territories. As a result, e-commerce share continues to grow as does that of the biggest firms – the top 10 apparel retailers saw their share increase 3 points in a year to 30%.
This is Part I of a 2-part review of Japan's apparel and fashion markets. <a href="https://www.smartkarma.com/insights/winners-losers-and-key-business-trends-in-japanese-fashion-retailing-2018-19" target="_blank" rel="noopener">Part II of our review is here</a> and has profiles of the winners in 2018-19 and key trends impacting performance now and going forward.

The apparel and fashion market contracted slightly last year and no single format was immune to the tougher trading environment – even the online channel.
The large store formats suffered the worst but a number of major specialty chains also posted lower sales. In e-commerce, even ZOZO Inc (3092 JP) suffered its lowest sales growth in several years.
The reasons are clear: consumption of apparel fell again last year while other categories like home interiors, food and communications rose.
At the same time, the leading specialty retailers face saturation in some product categories and territories. As a result, e-commerce share continues to grow as does that of the biggest firms – the top 10 apparel retailers saw their share increase 3 points in a year to 30%.
This is Part I of a 2-part review of Japan's apparel and fashion markets. Part II of our review is here and has profiles of the winners in 2018-19 and key trends impacting performance now and going forward.

Japan Fashion Market Review 2019 Part I: A Stable Market but Tougher Trading All Round

Japan

Scroll Corporation operates catalog mail order business.  The Company sells ladies' apparel and underwear and also sundry goods.  The Company sells its merchandise through on-line stores.  Muto also sells Kimono, furs, and precious stones at exhibition.

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Scroll Corp (8005 JP)

TOPIX Inclusion: Oisix Ra Daichi (3182 JP)

Japanese online grocery delivery service provider Oisix Ra Daichi (3182 JP) confirmed on 30th March that it had received approval to move from the...

Janaghan Jeyakumar, CFA

Japan Fashion Market Review 2019 Part I: A Stable Market but Tougher Trading All Round

The apparel and fashion market contracted slightly last year and no single format was immune to the tougher trading environment – even the online...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)