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>Seven Eleven is turning to apparel to boost same-store sales growth as it falls behind rivals.  </li>
<li>Hello Kitty aside, its hands-off tie-up with And ST looks poorly suited to the very specific type of compact, impulse-driven conbini merchandising needed here.</li>
<li>FamilyMart got it right and how has a ¥20 billion clothing line aiming for ¥100 billion – but even then, FamilyMart is still struggling to keep footfall positive.</li>
</ul>


Seven Eleven is turning to apparel to boost same-store sales growth as it falls behind rivals.  
Hello Kitty aside, its hands-off tie-up with And ST looks poorly suited to the very specific type of compact, impulse-driven conbini merchandising needed here.
FamilyMart got it right and how has a ¥20 billion clothing line aiming for ¥100 billion – but even then, FamilyMart is still struggling to keep footfall positive.


Conbini Clothing Wars: No Riches from Rags for Seven Eleven

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>DBS and UOBKH keep 'buy' ratings on Digital Core REIT.                                 </li>
<li>OCBC and DBS have positive outlooks on OUE REIT.</li>
<li>Lim and Tan sets $1.35 target price for Olam. Is it a good buy?</li>
</ul>


DBS and UOBKH keep 'buy' ratings on Digital Core REIT.                                 
OCBC and DBS have positive outlooks on OUE REIT.
Lim and Tan sets $1.35 target price for Olam. Is it a good buy?


Singapore Market Roundup (24-Apr-2026): DBS and UOBKH maintain 'buy' on Digital Core REIT.

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>We first review at Q1 performance in the major markets we follow</li>
<li>The worst may be over in but news flow will drive markets in the short-term</li>
<li>We look at foreign positioning and fund flow data to assess risks</li>
</ul>


We first review at Q1 performance in the major markets we follow
The worst may be over in but news flow will drive markets in the short-term
We look at foreign positioning and fund flow data to assess risks


Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

<ul>
<li>The Asian Alpha Hedge Portfolio performance in 1Q26 was +17.83% versus its benchmark performance of +1.79% for an outperformance of 16.04%.</li>
<li>Over the last year, AAHP's Sharpe ratio is 4.39 with a mean excess annualized return of 69%.  The portfolio has a gross and net exposure of 132% and +30%, respectively.</li>
<li>The war has changed outlooks for economies and markets in the region.  Accordingly, we reduced risk in the portfolio and adjusted our long/short exposures to reflect this new reality.</li>
</ul>


The Asian Alpha Hedge Portfolio performance in 1Q26 was +17.83% versus its benchmark performance of +1.79% for an outperformance of 16.04%.
Over the last year, AAHP's Sharpe ratio is 4.39 with a mean excess annualized return of 69%.  The portfolio has a gross and net exposure of 132% and +30%, respectively.
The war has changed outlooks for economies and markets in the region.  Accordingly, we reduced risk in the portfolio and adjusted our long/short exposures to reflect this new reality.


Asian Alpha Hedge Portfolio (March, 2026)

<ul>
<li>Leadership globally is rotating to cyclical, materials, and commodity sectors</li>
<li>Japan lacks many pure play companies, so premiums will be commanded</li>
<li>We add a couple of cyclical names to increase Japanese exposure</li>
</ul>


Leadership globally is rotating to cyclical, materials, and commodity sectors
Japan lacks many pure play companies, so premiums will be commanded
We add a couple of cyclical names to increase Japanese exposure


Tactical Trading – Increasing Cyclical Exposure in Japan

Japan

Mitsubishi Corporation is a general trading company.  The Company has business groups such as New Business Initiatives, IT & Electronics, Fuels, Metals, Machinery, Chemicals, Living Essentials, and Professional Services.  Mitsubishi diversifies by satellite communications through a joint venture.

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Mitsubishi Corp (8058 JP)

Conbini Clothing Wars: No Riches from Rags for Seven Eleven

Seven Eleven Japan is playing catch up with its rivals in turning its Japan chain into a variety-conbini format. Its new clothing line is an...

Michael Causton

Singapore Market Roundup (24-Apr-2026): DBS and UOBKH maintain 'buy' on Digital Core REIT.

DBS and UOBKH maintain 'buy' ratings on Digital Core REIT; OCBC and DBS are optimistic about OUE REIT. Lim and Tan set Olam's target at $1.35.

Singapore Market Roundup

Q2 Outlook - Asian Equity Markets

Our outlook for Q2 2026 onwards. Separating the short-term noise from our longer-term investment themes. In Part 2 look at Asian equities

Rikki Malik

Asian Alpha Hedge Portfolio (March, 2026)

While we do not believe that the Iran conflict is close to a resolution, we believe that the U.S. side needs to reach one, and that will eventually...

David Mudd

Tactical Trading – Increasing Cyclical Exposure in Japan

Mitsubishi 8058.T rallied 8% yesterday with other potential beneficiaries of the Trump-Takaichi summit. Nikkei link below. Key is the development...

Rikki Malik

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