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>
<a href="https://www.smartkarma.com/entities/adastria-co-ltd" target="_blank" data-smartkarma-citation="entities:11895:1" rel="noopener">Adastria Co Ltd (2685 JP)</a> has rebuilt and renamed its online store as it aims to create a major fashion mall to rival the likes of Zozo and Rakuten Fashion.</li>
<li>Unlike those rivals, it has a chain of stores linked to the mall, an advantage in a market where omnichannel is well supported by customers.</li>
<li>To boost sales from younger Japanese with fewer savings, it has also tied with <a href="https://www.smartkarma.com/entities/acom-co-ltd" target="_blank" data-smartkarma-citation="entities:8897:1" rel="noopener">Acom Co Ltd (8572 JP)</a> to offer small loans.</li>
</ul>



Adastria Co Ltd (2685 JP) has rebuilt and renamed its online store as it aims to create a major fashion mall to rival the likes of Zozo and Rakuten Fashion.
Unlike those rivals, it has a chain of stores linked to the mall, an advantage in a market where omnichannel is well supported by customers.
To boost sales from younger Japanese with fewer savings, it has also tied with Acom Co Ltd (8572 JP) to offer small loans.


Adastria Targets Zozo with New Online Mall, ‘And ST’

Event-Driven

<ul>
<li>Seven &amp; I released 1H24 earnings today as well as details on planned restructuring of its business. Results included some one-off items hitting operating profit as well as lower footfall.</li>
<li>The bigger news was the plan to hive off the non-CVS retail operations into a new company, York Holdings, leaving a newly named 7-Eleven Corporation running CVS globally.</li>
<li>Unusually, Seven also mentioned the possibility of new strategic partners investing in York, including even the "original founding families", suggesting one way of holding on to control.</li>
</ul>


Seven &amp; I released 1H24 earnings today as well as details on planned restructuring of its business. Results included some one-off items hitting operating profit as well as lower footfall.
The bigger news was the plan to hive off the non-CVS retail operations into a new company, York Holdings, leaving a newly named 7-Eleven Corporation running CVS globally.
Unusually, Seven also mentioned the possibility of new strategic partners investing in York, including even the "original founding families", suggesting one way of holding on to control.


7-Eleven Corporation: A Clear Strategy for Long-Term Value, Founding Family Return to Super-Stores

Highly Differentiated Ideas and Insights, Made in Japan

Made in Japan

Highly Differentiated Ideas and Insights

The mission of MIJ is to become your field guide to Business and Investing in Japan. My goal is to make businesses in Japan more accessible to everyone by breaking down cultural barriers and provide differentiated ideas and insights.

<ul>
<li>Welcome to Part 2 of my logistics series. I’ll briefly talk about a nanocap that could benefit from the shake-up in the logistics industry.</li>
<li>This particularly interested me because it covers 2 themes I like which are: the 2024 Problem but also the 2025 Digital Cliff (in other words, DX).</li>
<li>The company is Logizard $4391.JP, which is not a Pokemon (You’re thinking about Charizard) but probably the only listed pure-play Warehouse Management System (WMS) SaaS company in Japan.</li>
</ul>


Welcome to Part 2 of my logistics series. I’ll briefly talk about a nanocap that could benefit from the shake-up in the logistics industry.
This particularly interested me because it covers 2 themes I like which are: the 2024 Problem but also the 2025 Digital Cliff (in other words, DX).
The company is Logizard $4391.JP, which is not a Pokemon (You’re thinking about Charizard) but probably the only listed pure-play Warehouse Management System (WMS) SaaS company in Japan.


Logistics in Crisis ? The 2024 Problem: Part 2

<ul>
<li>M&amp;A is now a core strategy for expansion among lifestyle retailers as depopulation shrinks the overall market. </li>
<li>Adastria is leading this trend, acquiring several businesses in the past year, and will now add variety stores from Welcome, the operator of Dean &amp; Deluca, and a restaurant chain.</li>
<li>It is also developing new product lines in categories as diverse as sexual wellbeing and home decor, all part of wider plans to become Japan’s “biggest general lifestyle retailer”.</li>
</ul>


M&amp;A is now a core strategy for expansion among lifestyle retailers as depopulation shrinks the overall market. 
Adastria is leading this trend, acquiring several businesses in the past year, and will now add variety stores from Welcome, the operator of Dean &amp; Deluca, and a restaurant chain.
It is also developing new product lines in categories as diverse as sexual wellbeing and home decor, all part of wider plans to become Japan’s “biggest general lifestyle retailer”.


Adastria Bets on Diversification for Future Growth

<ul>
<li>The almost viral popularity of Familymart’s line of basic clothing items continues to grow and shows the real potential for convenience stores to diversify and adapt. </li>
<li>Backed by Itochu, Familymart has expanded the product range and added new, limited edition items and brand collaborations, creating a success story that Seven Eleven may find hard to emulate.</li>
<li>Lawson, however, is controlled by Mitsubishi Corp which happens to have a clothing production arm that was behind the early success of Uniqlo and Adastria.</li>
</ul>


The almost viral popularity of Familymart’s line of basic clothing items continues to grow and shows the real potential for convenience stores to diversify and adapt. 
Backed by Itochu, Familymart has expanded the product range and added new, limited edition items and brand collaborations, creating a success story that Seven Eleven may find hard to emulate.
Lawson, however, is controlled by Mitsubishi Corp which happens to have a clothing production arm that was behind the early success of Uniqlo and Adastria.


Convenience Wear: Familymart Competes with Uniqlo in Basics

Japan

and ST HD Co Ltd operates a chain of clothing stores in Japan. The Company also operates stores in China, Taiwan, Hong Kong and Korea.

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And ST HD Co Ltd (2685 JP)

Adastria Targets Zozo with New Online Mall, ‘And ST’

Adastria Co Ltd aims to rival Zozo and Rakuten Fashion with a new online store and omnichannel strategy, targeting younger Japanese with small...

Michael Causton

7-Eleven Corporation: A Clear Strategy for Long-Term Value, Founding Family Return to Super-Stores

Seven & I showed some falls in SSS and income in 1H. Plans to restructure business by creating York Holdings for non-CVS retail ops, with the...

Michael Causton

Logistics in Crisis ? The 2024 Problem: Part 2

Welcome to Part 2 of my logistics series. I’ll briefly talk about a nanocap that could benefit from the shake-up in the logistics industry. This...

Made in Japan

Adastria Bets on Diversification for Future Growth

Lifestyle retailers turn to M&A for growth amid depopulation, with Adastria leading the trend by acquiring new businesses and expanding product...

Michael Causton

Convenience Wear: Familymart Competes with Uniqlo in Basics

Familymart is successfully diversifying through clothing, a hit line that Seven Eleven may struggle to replicate. Lawson, backed by Mitsubishi...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Adastria Targets Zozo with New Online Mall, ‘And ST’

​Adastria Co Ltd aims to rival Zozo and Rakuten Fashion with a new online store and omnichannel strategy, targeting younger Japanese with small...

Michael Causton

7-Eleven Corporation: A Clear Strategy for Long-Term Value, Founding Family Return to Super-Stores

​Seven & I showed some falls in SSS and income in 1H. Plans to restructure business by creating York Holdings for non-CVS retail ops, with the...

Michael Causton

Logistics in Crisis ? The 2024 Problem: Part 2

Welcome to Part 2 of my logistics series. I’ll briefly talk about a nanocap that could benefit from the shake-up in the logistics industry. This...

Made in Japan

Adastria Bets on Diversification for Future Growth

​Lifestyle retailers turn to M&A for growth amid depopulation, with Adastria leading the trend by acquiring new businesses and expanding product...

Michael Causton

Convenience Wear: Familymart Competes with Uniqlo in Basics

Familymart is successfully diversifying through clothing, a hit line that Seven Eleven may struggle to replicate. Lawson, backed by Mitsubishi...

Michael Causton

Adastria Co Ltd aims to rival Zozo and Rakuten Fashion with a new online store and omnichannel strategy, targeting younger Japanese with small...

Seven & I showed some falls in SSS and income in 1H. Plans to restructure business by creating York Holdings for non-CVS retail ops, with the...

Lifestyle retailers turn to M&A for growth amid depopulation, with Adastria leading the trend by acquiring new businesses and expanding product...