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>Aeon Kyushu will accelerate rollout of its new, small store formats, emulating its parent company’s strategy in Tokyo.</li>
<li>The stores will also challenge local players like Cosmos Pharma and Trial. </li>
<li>A year after opening the first small-format supermarket, it has added an ultra small Maxvalu Express in Fukuoka. </li>
</ul>


Aeon Kyushu will accelerate rollout of its new, small store formats, emulating its parent company’s strategy in Tokyo.
The stores will also challenge local players like Cosmos Pharma and Trial. 
A year after opening the first small-format supermarket, it has added an ultra small Maxvalu Express in Fukuoka. 


Aeon Kyushu: The Future Is Small Format Supermarkets

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Bowing before bureaucratic, governmental, societal, and perhaps finally shareholder pressure, <a href="https://www.smartkarma.com/entities/aeon-co-ltd" target="_blank" data-smartkarma-citation="entities:3:1" rel="noopener">Aeon Co Ltd (8267 JP)</a> Friday announced it is rolling up two big subsidiaries. </li>
<li>Aeon Mall will be merged with Aeon in a share exchange and <a href="https://www.smartkarma.com/entities/aeon-delight-co-ltd" target="_blank" data-smartkarma-citation="entities:16763:1" rel="noopener">Aeon Delight (9787 JP)</a> will be taken over via slightly long-dated Tender Offer which starts Monday.</li>
<li>This is probably the wrong price, but it isn't egregiously wrong I expect. And it would be difficult to block. I expect it gets done easily.</li>
</ul>


Bowing before bureaucratic, governmental, societal, and perhaps finally shareholder pressure, Aeon Co Ltd (8267 JP) Friday announced it is rolling up two big subsidiaries. 
Aeon Mall will be merged with Aeon in a share exchange and Aeon Delight (9787 JP) will be taken over via slightly long-dated Tender Offer which starts Monday.
This is probably the wrong price, but it isn't egregiously wrong I expect. And it would be difficult to block. I expect it gets done easily.


Aeon Tender Offer for Aeon Delight (9787) At ¥5,400/Share

<ul>
<li>Aeon just announced record revenues of more than ¥9 trillion for FY2022. </li>
<li>Its supermarkets, mall developments and drugstores continue to strengthen and even the GMS business had a good year even if it still a way to go to generate consistent profit.</li>
<li>Meanwhile, Aeon plans to pour ¥150 billion a year into group-wide digital technologies, after launching the most advanced food online operation Japan has seen yet this month.</li>
</ul>


Aeon just announced record revenues of more than ¥9 trillion for FY2022. 
Its supermarkets, mall developments and drugstores continue to strengthen and even the GMS business had a good year even if it still a way to go to generate consistent profit.
Meanwhile, Aeon plans to pour ¥150 billion a year into group-wide digital technologies, after launching the most advanced food online operation Japan has seen yet this month.


Thematic (Sector/Industry)

The following is an in-depth review of Japanese retail in the last 18 months covering all the main formats and categories, providing a quick way to see an overview of all the key trends and winners and losers in Japanese retailing now and going forward.FY2020 was an anomaly and one that businesses everywhere will want to forget and never repeat. There was more than enough pain among Japan’s top retailers last year, but equally some formats did surprisingly well given the circumstances.For most, work-from-home was the single most important factor in determining a chain’s fortunes. City-centre stores and shopping centres offering mostly discretionary shopping have been hit hard, as have convenience stores.But those chains selling essentials, healthcare, electronics and, most importantly, food, all saw their fortunes improve. The pandemic has also revealed the strong, dynamic players and exposed the weaker ones. Oh, and everyone needs to be online.

The following is an in-depth review of Japanese retail in the last 18 months covering all the main formats and categories, providing a quick way to see an overview of all the key trends and winners and losers in Japanese retailing now and going forward.FY2020 was an anomaly and one that businesses everywhere will want to forget and never repeat. There was more than enough pain among Japan’s top retailers last year, but equally some formats did surprisingly well given the circumstances.For most, work-from-home was the single most important factor in determining a chain’s fortunes. City-centre stores and shopping centres offering mostly discretionary shopping have been hit hard, as have convenience stores.But those chains selling essentials, healthcare, electronics and, most importantly, food, all saw their fortunes improve. The pandemic has also revealed the strong, dynamic players and exposed the weaker ones. Oh, and everyone needs to be online.

The Polarising Pandemic in Japanese Retail

Aeon Group managed to maintain revenues at ¥8.6 trillion in FY2020, the third straight year with little change. Although it has no department store divison to drag it down, GMS operations and its heavy reliance on real estate and SCs, which make up more than 60% of revenues, meant it had a very difficult year in terms of profits – operating profit dropped 30%.
A new five-year plan suggests it will spend heavily on e-commerce, and even wants to earn more from retailing rather than just from renting space. This is what many analysts have been calling for but will take time.

Aeon Group managed to maintain revenues at ¥8.6 trillion in FY2020, the third straight year with little change. Although it has no department store divison to drag it down, GMS operations and its heavy reliance on real estate and SCs, which make up more than 60% of revenues, meant it had a very difficult year in terms of profits – operating profit dropped 30%.
A new five-year plan suggests it will spend heavily on e-commerce, and even wants to earn more from retailing rather than just from renting space. This is what many analysts have been calling for but will take time.

Aeon 2020: A Year of Ups and Downs but a More Profitable Future

Japan

AEON KYUSHU CO.,LTD., a member of AEON Group, operates a supermarket chain based in Kyushu region.  The Company sells various type of merchandise including clothing, foodstuffs, and household utensils.

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Aeon Kyushu (2653 JP)

Aeon Kyushu: The Future Is Small Format Supermarkets

Aeon Kyushu is expanding its small store formats in Fukuoka to compete with local players like Cosmos Yakuhin and Trial, following its parent...

Michael Causton

Aeon: All Signs Point to Higher Returns

Aeon has long been famous for low margins and an empire of diverse business units with less than stellar efficiency. The last five years have seen...

Michael Causton

The Polarising Pandemic in Japanese Retail

A complete review of the Japanese retail sector in the last 18 months, format by format, category by category, providing key trends and winners &...

Michael Causton

Aeon 2020: A Year of Ups and Downs but a More Profitable Future

Aeon has for long had issues with low margins thanks to its dependence on real estate rents over actual retailing. This is changing and for the...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aeon Kyushu: The Future Is Small Format Supermarkets

​Aeon Kyushu is expanding its small store formats in Fukuoka to compete with local players like Cosmos Yakuhin and Trial, following its parent...

Michael Causton

Aeon Tender Offer for Aeon Delight (9787) At ¥5,400/Share

Aeon has announced a Tender Offer for facilities maintenance subsidiary Aeon Delight. It's an all-time high, but the TOB Premium on Aeon Delight is...

Travis Lundy

Aeon: All Signs Point to Higher Returns

Aeon has long been famous for low margins and an empire of diverse business units with less than stellar efficiency. The last five years have seen...

Michael Causton

The Polarising Pandemic in Japanese Retail

A complete review of the Japanese retail sector in the last 18 months, format by format, category by category, providing key trends and winners &...

Michael Causton

Aeon 2020: A Year of Ups and Downs but a More Profitable Future

Aeon has for long had issues with low margins thanks to its dependence on real estate rents over actual retailing. This is changing and for the...

Michael Causton

Aeon Kyushu is expanding its small store formats in Fukuoka to compete with local players like Cosmos Yakuhin and Trial, following its parent...