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>Lowya began as an online furniture retailer and is still one of the largest in e-commerce, but limited brand awareness has held it back and sales fell last year. </li>
<li>Vega Corporation, Lowya’s parent, is now expanding physical stores and offering omnichannel solutions to fix the problem.</li>
<li>This makes sense in a market where stores remain preeminent and are likely to remain so.</li>
</ul>


Lowya began as an online furniture retailer and is still one of the largest in e-commerce, but limited brand awareness has held it back and sales fell last year. 
Vega Corporation, Lowya’s parent, is now expanding physical stores and offering omnichannel solutions to fix the problem.
This makes sense in a market where stores remain preeminent and are likely to remain so.


Vega's Lowya Expanding Omnichannel to Grow Audience

<ul>
<li>Growth in the Japanese home interiors and furniture markets is set to continue long-term. </li>
<li>At present, just a handful of brands have any major presence led by <a href="https://www.smartkarma.com/entities/nitori-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20386:1" rel="noopener">Nitori Holdings (9843 JP)</a> which continues to expand market share.</li>
<li>With multiple formats, Nitori looks set to continue to dominate but faces competition from unlikely quarters, especially <a href="https://www.smartkarma.com/entities/yamada-denki-co-ltd" target="_blank" data-smartkarma-citation="entities:641:1" rel="noopener">Yamada Denki (9831 JP).</a>
</li>
</ul>


Growth in the Japanese home interiors and furniture markets is set to continue long-term. 
At present, just a handful of brands have any major presence led by Nitori Holdings (9843 JP) which continues to expand market share.
With multiple formats, Nitori looks set to continue to dominate but faces competition from unlikely quarters, especially Yamada Denki (9831 JP).



Interiors Long-Term Growth in Japan a Plus for Nitori

<ul>
<li>Lowya is an online furniture brand run by Vega Corp that hit the headlines with 42% growth in 2020 while most other lifestyle retailers were reeling from the pandemic. </li>
<li>Sales fell last year post-Covid and won't grow much this year either but Lowya wants to become a ¥60 billion business and looks a good bet for the long-term.</li>
<li>Lowya will shift to a mall model similar to Zozo which should allow it to grow faster, while tie-ups with major retailers like Aeon should raise brand awareness fast.</li>
</ul>


Lowya is an online furniture brand run by Vega Corp that hit the headlines with 42% growth in 2020 while most other lifestyle retailers were reeling from the pandemic. 
Sales fell last year post-Covid and won't grow much this year either but Lowya wants to become a ¥60 billion business and looks a good bet for the long-term.
Lowya will shift to a mall model similar to Zozo which should allow it to grow faster, while tie-ups with major retailers like Aeon should raise brand awareness fast.


Thematic (Sector/Industry)

<ul>
<li>Japan may have discovered home decoration and DIY later than some markets but it has made up for this with a convert’s enthusiasm. </li>
<li>In the last decade, the market has grown around 50% and a host of brands and retailers have flourished.</li>
<li>These include <a href="https://www.smartkarma.com/entities/nitori-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20386:1" rel="noopener">Nitori Holdings (9843 JP)</a>, <a href="https://www.smartkarma.com/entities/ryohin-keikaku-co-ltd" target="_blank" data-smartkarma-citation="entities:2765:1" rel="noopener">Ryohin Keikaku (7453 JP)</a> and the home centres like Cainz and <a href="https://www.smartkarma.com/entities/dcm-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:13042:1" rel="noopener">DCM Holdings (3050 JP). </a> The long-term outlook remains positive.</li>
</ul>


Japan may have discovered home decoration and DIY later than some markets but it has made up for this with a convert’s enthusiasm. 
In the last decade, the market has grown around 50% and a host of brands and retailers have flourished.
These include Nitori Holdings (9843 JP), Ryohin Keikaku (7453 JP) and the home centres like Cainz and DCM Holdings (3050 JP).  The long-term outlook remains positive.


Nitori, Muji Still Benefitting from a Flourishing Japan Home Decor Market

Japan

SOLXYZ Co., Ltd. develops computer application software for business use.  The Company also provides system integration services as well as management and maintenance services for its clients' computer systems.

Sobal Corporation develops embedded software and firmware for digital products as well as research and development of wireless communication technologies.

EXTREME CO.,LTD. operates game and digital contents for PC and mobile users. The  company also offers a solution service of entertainment software development.

SHOWA SYSTEM ENGINEERING CORPORATION develops computer software for a various kind of systems such as financial, distribution, manufacturing, and medical. The Company also provides data entry and processing service.

AISAN TECHNOLOGY CO., LTD. develops and markets computer software for surveying and civil engineering works.  The Company also sells computer hardware and its peripherals.  Aisan has its offices throughout Japan and provides support services.

SystemSoft Corporation manufactures and sells packaged software for personal computers and provides user support services.  The Company's products include application and amusement software.  SystemSoft also produces and markets localized Japanese versions of application software developed outside of Japan.

INFORMATION CREATIVE CO., LTD. develops and manages computer system. The Company also develops and sells computer software.  Information Creative provides data processing and system consulting services as well.

Dawn Corporation develops geographic information system (GIS) software and provides licensing services.  The Company also develops application software related to geographic information system.

Aeria Inc. mainly distributes and operates online games.  The Company also provides integrated solutions that enable the delivery of content to users. Aeria is also involved in temporary staffing and real estate leasing.

enish Inc. operates as a social gaming company. The Company offers social games and supports on social networking sites such as GREE, mixi, Mobage, or Ameba.

Feiyu Technology International Co Ltd is a video-game developer. The Company is primarily focused on the development and operation of mobile games.

Reckon Limited distributes, publishes, supports and markets financial management software in Australia.  The Company's products are developed locally by the Group or republished under license from Intuit.  The Company's software targets personal financial management, SME financial management and financial planning and are sold under the "Quicken" brand.

Igloo Security Inc. provides a wide range of Internet security solutions. The Company's solutions include SPiDER SysMon, which monitors the resources and performance of systems including sub-categories such as CPU, memory, disk, process and network interface.

Asphere Innovations Public Company Limited is an online entertainment services. The Company distributes online games and computer games, and also provides related services, covering the website services for game portals and the development of casual games. Asphere Innovations serves customers in Thailand.

Fasoo.Com Co Ltd provides software products and services.  The Company is a Korean supplier of digital rights management (DRM).

Appasia Berhad engages in the research, development, and sale of information communication technology (ICT) security systems, and provision of related professional services in Malaysia.

KL-Net Corp. provides system integration services and electronic data interchange (EDI) service, which enables government agencies and businesses process their transactions electronically.  The Company also markets computer hardware and software, and operates Internet portal service website.

Telcoware Co., Ltd. provides mobile infrastructure solutions and services.  The Company's products include wireless transmission of data and voice systems, such as home location registers, gateway location registers, authentication centers, telephony and IP integration systems, and instant messaging.

Bluedon Information Safe Technology Co Ltd provides information security products, information security integration and information security services. The Company's main products include security gateway type products, security audit type products, and application security products.

Bluedon Information Security Tech (300297 CH)

IOKCOMPANY Co., Ltd. produces, promotes and markets Korea Artist agency management business, Top Artist's Brand Value and branded entertainment business in several formats such as  Korean Drama, advertisement and media programs.

Vega Corporation K.K.'s line of business includes the online retail sales of furnitures. The Company also develops and distribute mobile game apps for smartphone.

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Vega Corp (3542 JP)

Vega's Lowya Expanding Omnichannel to Grow Audience

Lowya, the online furniture retailer, is expanding physical stores and omnichannel solutions to boost sales due to limited brand awareness and...

Michael Causton

Interiors Long-Term Growth in Japan a Plus for Nitori

Japan's interiors consumption has been one of the few categories to grow consistently and will continue to grow steadily as Japanese appetite for...

Michael Causton

Lowya – the Zozo of Home Decor?

Home decoration is a strong consumer category in Japan and Lowya a big name in online furniture. Tie-ups with Aeon and its own stores combined with...

Michael Causton

Nitori, Muji Still Benefitting from a Flourishing Japan Home Decor Market

Japan's home decoration market grew fast in the pandemic but has been growing for 10 years and will continue to outperform other consumer...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Vega's Lowya Expanding Omnichannel to Grow Audience

​Lowya, the online furniture retailer, is expanding physical stores and omnichannel solutions to boost sales due to limited brand awareness and...

Michael Causton

Interiors Long-Term Growth in Japan a Plus for Nitori

Japan's interiors consumption has been one of the few categories to grow consistently and will continue to grow steadily as Japanese appetite for...

Michael Causton

Lowya – the Zozo of Home Decor?

Home decoration is a strong consumer category in Japan and Lowya a big name in online furniture. Tie-ups with Aeon and its own stores combined with...

Michael Causton

Nitori, Muji Still Benefitting from a Flourishing Japan Home Decor Market

Japan's home decoration market grew fast in the pandemic but has been growing for 10 years and will continue to outperform other consumer...

Michael Causton

Lowya, the online furniture retailer, is expanding physical stores and omnichannel solutions to boost sales due to limited brand awareness and...