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 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?


Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

<ul><li>Consolidated revenue grew 13.3% YoY, driven by parent revenue growth and proactive inventory strategies, enhancing merchandising. </li><li>Operating profit rose 38.1% YoY, with SG&A expenses increasing 10.9% YoY due to personnel and advertising costs. </li><li>Revenue from existing stores increased 12.2% YoY, with customer count up 10.3% YoY and average spend up 1.8% YoY. </li></ul>

Consolidated revenue grew 13.3% YoY, driven by parent revenue growth and proactive inventory strategies, enhancing merchandising. Operating profit rose 38.1% YoY, with SG&A expenses increasing 10.9% YoY due to personnel and advertising costs. Revenue from existing stores increased 12.2% YoY, with customer count up 10.3% YoY and average spend up 1.8% YoY. 

United Arrows (7606 JP): Q3 FY03/25 flash update

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

<ul>
<li>There have been a lot of deals in the last 5 years, including M&amp;A between Japanese companies, distribution deals/licenses, foreign companies buying into Japan and Japanese buying foreign brands. </li>
<li>Consolidation is a key motivation but so are category expansion, rationalisation and buying in expertise. All these reasons and more suggest more deals to come in the next few years.</li>
<li>Here we provide a comprehensive list of deals between 2019-2025 as well as a map showing who owns who and, as important, who influences who without any paperwork at all.</li>
</ul>


There have been a lot of deals in the last 5 years, including M&amp;A between Japanese companies, distribution deals/licenses, foreign companies buying into Japan and Japanese buying foreign brands. 
Consolidation is a key motivation but so are category expansion, rationalisation and buying in expertise. All these reasons and more suggest more deals to come in the next few years.
Here we provide a comprehensive list of deals between 2019-2025 as well as a map showing who owns who and, as important, who influences who without any paperwork at all.


[Japan M&A] Who Owns Who in Fashion & Lifestyle Markets

<ul><li>The company applied a new revenue recognition standard, decreasing FY03/22 revenue by JPY3.2bn, with no impact on operating profit.</li><li>Consolidated revenue grew 11.9% YoY, driven by existing store growth and improved product appeal, with operating profit up 66.4% YoY.</li><li>United Arrows Ltd. revised its full-year FY03/25 forecast upward, citing exceeded 1H results and improved external conditions.</li></ul>

The company applied a new revenue recognition standard, decreasing FY03/22 revenue by JPY3.2bn, with no impact on operating profit.Consolidated revenue grew 11.9% YoY, driven by existing store growth and improved product appeal, with operating profit up 66.4% YoY.United Arrows Ltd. revised its full-year FY03/25 forecast upward, citing exceeded 1H results and improved external conditions.

United Arrows (7606 JP): 1H FY03/25 flash update

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

United Arrows (7606 JP)

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