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>United Arrows is beginning to flex its market power by launching more new brands rather than just iterations of its eponymous name</li>
<li>A key focus is a move to exploit the massive demand for Korean brands in Japan with Korean licenses for Nice Weather and Osoi.</li>
<li>More licenses are expected in the near future as the select shop retailer looks to take more share of the premium market.</li>
</ul>


United Arrows is beginning to flex its market power by launching more new brands rather than just iterations of its eponymous name
A key focus is a move to exploit the massive demand for Korean brands in Japan with Korean licenses for Nice Weather and Osoi.
More licenses are expected in the near future as the select shop retailer looks to take more share of the premium market.


United Arrows on a Roll Again with Korean Brands

<ul>
<li>Tokyo Base struggled during and after Covid, but the promoter of Japanese design has begun to find a new following.</li>
<li>As well as a new generation of Japanese customers thanks to new banners, it is becoming a favourite with inbound tourists, which account for as much as 25% of sales.</li>
<li>It is now planning greater expansion both at home and overseas</li>
</ul>


Tokyo Base struggled during and after Covid, but the promoter of Japanese design has begun to find a new following.
As well as a new generation of Japanese customers thanks to new banners, it is becoming a favourite with inbound tourists, which account for as much as 25% of sales.
It is now planning greater expansion both at home and overseas


Tokyo Base: Like Human Made, a Potential Export Growth Stock

<ul>
<li>United Arrows is best known for building its own chains but has had a choppy few years spent fixing merchandising, supply chains and a poor e-commerce unit.</li>
<li>It now believes it can take a leaf from the playbook of Mash Holdings by signing promising overseas brands as a way to accelerate growth.</li>
<li>The first of these is the Korean brand, Nice Weather, a sort of lifestyle convenience store beloved by Gen Z.</li>
</ul>


United Arrows is best known for building its own chains but has had a choppy few years spent fixing merchandising, supply chains and a poor e-commerce unit.
It now believes it can take a leaf from the playbook of Mash Holdings by signing promising overseas brands as a way to accelerate growth.
The first of these is the Korean brand, Nice Weather, a sort of lifestyle convenience store beloved by Gen Z.


United Arrows Finds New Growth Path Through Korean Brand

<ul>
<li>United Arrows spent a few years in retreat as a succession of problems around e-commerce, Covid and merchandising hit sales.</li>
<li>Instead, competitors like the unlisted retailers, Baycrews and Mash Holdings, took greater share thanks to innovative ideas and new chains mixing fashion, lifestyle and food.</li>
<li>United Arrows now claims the backend fixes are complete and it is starting to expand again, with new chains and target segments, both at home and overseas. Can it succeed?</li>
</ul>


United Arrows spent a few years in retreat as a succession of problems around e-commerce, Covid and merchandising hit sales.
Instead, competitors like the unlisted retailers, Baycrews and Mash Holdings, took greater share thanks to innovative ideas and new chains mixing fashion, lifestyle and food.
United Arrows now claims the backend fixes are complete and it is starting to expand again, with new chains and target segments, both at home and overseas. Can it succeed?


Thematic (Sector/Industry)

<ul>
<li>In this in-depth review, it is clear that while Japanese clothing markets had a solid year in FY2024-25, once again the top 100 retailers outperformed by a large margin.</li>
<li>This meant they surpassed 71% share of the market but, within the specialty market alone, the top 10 retailers own 34%. This is now a clear oligopoly.</li>
<li>There are no signs of the situation changing either but rather the capacity of the leaders to invest should further expand share at the top.</li>
</ul>


In this in-depth review, it is clear that while Japanese clothing markets had a solid year in FY2024-25, once again the top 100 retailers outperformed by a large margin.
This meant they surpassed 71% share of the market but, within the specialty market alone, the top 10 retailers own 34%. This is now a clear oligopoly.
There are no signs of the situation changing either but rather the capacity of the leaders to invest should further expand share at the top.


The Great Divide: Fashion Retail’s Oligopoly

Japan

UNITED ARROWS LTD., operates fashion stores, specializing in casual clothing and accessory for men and women.  The Company has stores nationwide.  Main forces are United Arrows, Green Label Relaxing and Chrome Hearts.

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United Arrows (7606 JP)

United Arrows on a Roll Again with Korean Brands

United Arrows expands market power by launching new brands, focusing on Korean licenses to meet demand and increase share of premium market.

Michael Causton

Tokyo Base: Like Human Made, a Potential Export Growth Stock

Tokyo Base, a promoter of Japanese design, is finding new success post-Covid with a growing following among Japanese customers and inbound...

Michael Causton

United Arrows Finds New Growth Path Through Korean Brand

United Arrows is looking to accelerate growth by signing promising overseas brands like Nice Weather, following a period of fixing internal issues...

Michael Causton

United Arrows Rising Again

United Arrows faced setbacks, mostly of its own making, but is now expanding again with new chains and target segments, aiming to regain lost...

Michael Causton

The Great Divide: Fashion Retail’s Oligopoly

Japanese clothing market dominated by top 100 retailers in FY2024-25, with top 10 owning 34% in specialty market, solidifying oligopoly. Leaders...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

United Arrows on a Roll Again with Korean Brands

​United Arrows expands market power by launching new brands, focusing on Korean licenses to meet demand and increase share of premium market.

Michael Causton

Tokyo Base: Like Human Made, a Potential Export Growth Stock

​Tokyo Base, a promoter of Japanese design, is finding new success post-Covid with a growing following among Japanese customers and inbound...

Michael Causton

United Arrows Finds New Growth Path Through Korean Brand

​United Arrows is looking to accelerate growth by signing promising overseas brands like Nice Weather, following a period of fixing internal issues...

Michael Causton

United Arrows Rising Again

​United Arrows faced setbacks, mostly of its own making, but is now expanding again with new chains and target segments, aiming to regain lost...

Michael Causton

The Great Divide: Fashion Retail’s Oligopoly

​Japanese clothing market dominated by top 100 retailers in FY2024-25, with top 10 owning 34% in specialty market, solidifying oligopoly. Leaders...

Michael Causton

United Arrows expands market power by launching new brands, focusing on Korean licenses to meet demand and increase share of premium market.

Tokyo Base, a promoter of Japanese design, is finding new success post-Covid with a growing following among Japanese customers and inbound...

United Arrows is looking to accelerate growth by signing promising overseas brands like Nice Weather, following a period of fixing internal issues...

United Arrows faced setbacks, mostly of its own making, but is now expanding again with new chains and target segments, aiming to regain lost...

Japanese clothing market dominated by top 100 retailers in FY2024-25, with top 10 owning 34% in specialty market, solidifying oligopoly. Leaders...