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. 

Event-Driven

<ul>
<li>ACT's bid for Seven &amp; I has been withdrawn and Seven will be better off long-term because of it – although we detail here how competitors are catching up fast.</li>
<li>Once York HD has been split off, the company can at last focus on its crucial local CVS operation: Japan makes up 25% of revenues but almost 50% of profits.</li>
<li>The potential is real and we are bullish on the long-term value but we would have been more bullish if the former CEO Ryuichi Isaka was still on board.</li>
</ul>


ACT's bid for Seven &amp; I has been withdrawn and Seven will be better off long-term because of it – although we detail here how competitors are catching up fast.
Once York HD has been split off, the company can at last focus on its crucial local CVS operation: Japan makes up 25% of revenues but almost 50% of profits.
The potential is real and we are bullish on the long-term value but we would have been more bullish if the former CEO Ryuichi Isaka was still on board.


The Final ACT Comedy of Errors Opens the Way for Real Value to Emerge at Seven & I

Equity Bottom-Up

<ul>
<li>Opening new stores at a rate of 60-100 a year, Kyushu-based Cosmos Pharmaceutical will soon operate nationwide. </li>
<li>It will also hit ¥1 trillion in sales this year and continues to map out expansion opportunities in the big urban centres.</li>
<li>It is now looking to diversify, with plans to do to the hotel industry what it has done to supermarkets.</li>
</ul>


Opening new stores at a rate of 60-100 a year, Kyushu-based Cosmos Pharmaceutical will soon operate nationwide. 
It will also hit ¥1 trillion in sales this year and continues to map out expansion opportunities in the big urban centres.
It is now looking to diversify, with plans to do to the hotel industry what it has done to supermarkets.


Cosmos Pharma Update: From Discount Drugstores to Cheap Hotels

Thematic (Sector/Industry)

<ul>
<li>Japan’s food retail sector is worth ¥55.8 trillion and is undergoing fast consolidation. If you are investing in Japanese food retailers/brands, this in-depth review will provide context and key trends. </li>
<li>National chains are finally displacing regional operators through M&amp;A and organic expansion – already, the top five food retailers control 29.5% of the market.</li>
<li>Private label is eroding national brand share as inflation bites and supermarkets are replacing fresh foods with higher margin deli, providing significant margin growth.</li>
</ul>


Japan’s food retail sector is worth ¥55.8 trillion and is undergoing fast consolidation. If you are investing in Japanese food retailers/brands, this in-depth review will provide context and key trends. 
National chains are finally displacing regional operators through M&amp;A and organic expansion – already, the top five food retailers control 29.5% of the market.
Private label is eroding national brand share as inflation bites and supermarkets are replacing fresh foods with higher margin deli, providing significant margin growth.


Consolidation in Japanese Food Retail as Top 5 Grab 30% Share

<ul>
<li>Drugstores have become Japan’s most dynamic brick‑and‑mortar format, expanding far beyond their pharmaceutical roots into food, beauty, household goods and healthcare services.  </li>
<li>Chain operators now control two thirds of the ¥15 trillion health &amp; beauty market and with more M&amp;A, the sector will consolidate further in the next two years.</li>
<li>Food &amp; drug hybrids, inbound tourism and private‑brand development are also transforming drugstores into neighbourhood one-stop-shop and health hubs – and 97% of inbound tourists say they shop there too.</li>
</ul>


Drugstores have become Japan’s most dynamic brick‑and‑mortar format, expanding far beyond their pharmaceutical roots into food, beauty, household goods and healthcare services.  
Chain operators now control two thirds of the ¥15 trillion health &amp; beauty market and with more M&amp;A, the sector will consolidate further in the next two years.
Food &amp; drug hybrids, inbound tourism and private‑brand development are also transforming drugstores into neighbourhood one-stop-shop and health hubs – and 97% of inbound tourists say they shop there too.


Food, Scripts and Lipsticks: Japan’s Drugstores

<ul>
<li>OK Super opened its first store in Kansai in November with a second already due in January and at least one more by the end of 2025</li>
<li>But then it will open 10 stores a year in the region aiming to take the lead in Kansai just as it did in Tokyo/Kanto – bigger even than Aeon.</li>
<li>More than 300 people queued to get into the supermarket and OK’s EDLP strategy is certain to prove a hit with customers in the region. Competitors will be hit hard.</li>
</ul>


OK Super opened its first store in Kansai in November with a second already due in January and at least one more by the end of 2025
But then it will open 10 stores a year in the region aiming to take the lead in Kansai just as it did in Tokyo/Kanto – bigger even than Aeon.
More than 300 people queued to get into the supermarket and OK’s EDLP strategy is certain to prove a hit with customers in the region. Competitors will be hit hard.


OK Super Fast Rollout in Kansai a Threat to Kansai Super and Others

Japan

COSMOS Pharmaceutical Corporation operates drug stores based in Kyushu. The Company sells daily necessities such as drug medicines, foodstuffs, and alcoholic beverages.

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Cosmos Pharmaceutical (3349 JP)

The Final ACT Comedy of Errors Opens the Way for Real Value to Emerge at Seven & I

ACT's bid for Seven & I withdrawn, company to focus on crucial CVS operation in Japan for long-term growth, potential vast but more bullish if...

Michael Causton

Cosmos Pharma Update: From Discount Drugstores to Cheap Hotels

Kyushu-based Cosmos Pharmaceutical rapidly expanding nationwide, reaching ¥1 trillion in sales and will now diversify into cheap hotels for which...

Michael Causton

Food, Scripts and Lipsticks: Japan’s Drugstores

Drugstores in Japan have evolved into dynamic one-stop shops, way beyond pharmaceuticals and is the sector that is consolidating fastest, with...

Michael Causton

OK Super Fast Rollout in Kansai a Threat to Kansai Super and Others

OK Super has just begun expanding in Kansai, with plans to open multiple stores each year, drawing in customers with its EDLP strategy. OK Super...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Final ACT Comedy of Errors Opens the Way for Real Value to Emerge at Seven & I

​ACT's bid for Seven & I withdrawn, company to focus on crucial CVS operation in Japan for long-term growth, potential vast but more bullish if...

Michael Causton

Cosmos Pharma Update: From Discount Drugstores to Cheap Hotels

​Kyushu-based Cosmos Pharmaceutical rapidly expanding nationwide, reaching ¥1 trillion in sales and will now diversify into cheap hotels for which...

Michael Causton

Consolidation in Japanese Food Retail as Top 5 Grab 30% Share

​Japan's food retail sector is rapidly consolidating, with national chains taking over regional operators. Private label and higher margin products...

Michael Causton

Food, Scripts and Lipsticks: Japan’s Drugstores

​Drugstores in Japan have evolved into dynamic one-stop shops, way beyond pharmaceuticals and is the sector that is consolidating fastest, with...

Michael Causton

OK Super Fast Rollout in Kansai a Threat to Kansai Super and Others

​OK Super has just begun expanding in Kansai, with plans to open multiple stores each year, drawing in customers with its EDLP strategy. OK Super...

Michael Causton

ACT's bid for Seven & I withdrawn, company to focus on crucial CVS operation in Japan for long-term growth, potential vast but more bullish if...

Kyushu-based Cosmos Pharmaceutical rapidly expanding nationwide, reaching ¥1 trillion in sales and will now diversify into cheap hotels for which...

Japan's food retail sector is rapidly consolidating, with national chains taking over regional operators. Private label and higher margin products...

Drugstores in Japan have evolved into dynamic one-stop shops, way beyond pharmaceuticals and is the sector that is consolidating fastest, with...

OK Super has just begun expanding in Kansai, with plans to open multiple stores each year, drawing in customers with its EDLP strategy. OK Super...