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. 

Thematic (Sector/Industry)

<ul>
<li>Japan's drugstore sector is in the midst of consolidation through organic expansion and M&amp;A but who are the leaders and how do they compare?</li>
<li>We provide snapshot profiles on each of the key players, their current strategies and future outlook.</li>
<li>With the sector increasingly threatening the supermarket and convenience store sectors, many of these names will come to dominate Japanese retailing in the next decade.</li>
</ul>


Japan's drugstore sector is in the midst of consolidation through organic expansion and M&amp;A but who are the leaders and how do they compare?
We provide snapshot profiles on each of the key players, their current strategies and future outlook.
With the sector increasingly threatening the supermarket and convenience store sectors, many of these names will come to dominate Japanese retailing in the next decade.


Event-Driven

<ul>
<li>Aeon will almost definitely increase its stake in Tsuruha Holdings, which on its own will catalyse drugstore competitors to consider their mergeable options.</li>
<li>Tsuruha MAY merge with Welcia under Aeon and just talk of this will catalyse drugstore competitors even more.</li>
<li>But the ongoing fusion of drugstore retailing and FMCG formats like supermarkets and convenience stores, will also spur the entire FMCG sector to respond to Aeon's massive potential dominance.</li>
</ul>


Aeon will almost definitely increase its stake in Tsuruha Holdings, which on its own will catalyse drugstore competitors to consider their mergeable options.
Tsuruha MAY merge with Welcia under Aeon and just talk of this will catalyse drugstore competitors even more.
But the ongoing fusion of drugstore retailing and FMCG formats like supermarkets and convenience stores, will also spur the entire FMCG sector to respond to Aeon's massive potential dominance.


Aeon (Maybe) Gets Tsuruha, Could Trigger Wave of Mergers in the Sector (And Beyond)

<ul>
<li>Major food-drugstores like Kusuri no Aoki and Genky Drugstores continue to pressure local supermarket competition. </li>
<li>The model of funding discount foods and FMCG via high profit pharmaceutical and cosmetics ranges is one that traditional food chains cannot match.</li>
<li>Now the largest players are creating brands and expanding into new regions. Many analysts have predicted saturation in the sector in the last decade. They continue to be wrong.</li>
</ul>


Major food-drugstores like Kusuri no Aoki and Genky Drugstores continue to pressure local supermarket competition. 
The model of funding discount foods and FMCG via high profit pharmaceutical and cosmetics ranges is one that traditional food chains cannot match.
Now the largest players are creating brands and expanding into new regions. Many analysts have predicted saturation in the sector in the last decade. They continue to be wrong.


Japan's Drugstores Taking on – and Beating – Supermarkets

<ul>
<li>As outlined in an overview on Japanese drugstores, the sector has outperformed all retail formats and grown 30% since 2015.</li>
<li>The sector continues to consolidate too, with greater share for a smaller number of leading firms.</li>
<li>This is being driven by organic expansion in and outside drugstores as well as M&amp;A, with a lot more of both to come.</li>
</ul>


As outlined in an overview on Japanese drugstores, the sector has outperformed all retail formats and grown 30% since 2015.
The sector continues to consolidate too, with greater share for a smaller number of leading firms.
This is being driven by organic expansion in and outside drugstores as well as M&amp;A, with a lot more of both to come.


<ul>
<li>The drugstore sector is now 30% larger than it was in 2015, the fastest growth of any retail channel other than e-commerce. </li>
<li>In 2020 and 2021 that growth continued, with only some minor signs of slowing after the boost that many chains enjoyed at the beginning of the pandemic. </li>
<li>Expansion into food means that drugstores are fast becoming competitors to other retailers and, by 2025, the sector could even break ¥10 trillion, matching the size of convenience stores.</li>
</ul>


The drugstore sector is now 30% larger than it was in 2015, the fastest growth of any retail channel other than e-commerce. 
In 2020 and 2021 that growth continued, with only some minor signs of slowing after the boost that many chains enjoyed at the beginning of the pandemic. 
Expansion into food means that drugstores are fast becoming competitors to other retailers and, by 2025, the sector could even break ¥10 trillion, matching the size of convenience stores.


Japanese Drugstores: The Best Retail Bet Japan Has

Japan

CREATE SD HOLDINGS Co Ltd operates a chain of drug stores based in Kanagawa. The Company sells medical supplies, cosmetics, foodstuff, baby products and daily goods. CREATE SD HOLDINGS also sells prescription medicine.

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Create Sd Holdings Co (3148 JP)

Leaders of Japan's Drugstore Sector

Japan's drugstore sector is consolidating through organic growth and M&A, with key players poised to dominate retailing in the next decade. But...

Michael Causton

Aeon (Maybe) Gets Tsuruha, Could Trigger Wave of Mergers in the Sector (And Beyond)

Aeon's potential increased stake in Tsuruha Holdings and possible merger with Welcia will likely prompt drugstore competitors to consider their...

Michael Causton

Japan's Drugstores Taking on – and Beating – Supermarkets

Major food-drugstores dominate local supermarkets, leveraging high-profit pharmaceutical and cosmetics to discount foods. These players are...

Michael Causton

Drugstores in Japan: Winners and Losers

Japan's drugstore sector continues to grow but only a few retailers will emerge as winners as competitors carve out greater market share.

Michael Causton

Japanese Drugstores: The Best Retail Bet Japan Has

Japan's drugstore sector has been written off by many leading analysts in the past. They were wrong then and are wrong now. The sector has plenty...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Leaders of Japan's Drugstore Sector

​Japan's drugstore sector is consolidating through organic growth and M&A, with key players poised to dominate retailing in the next decade. But...

Michael Causton

Aeon (Maybe) Gets Tsuruha, Could Trigger Wave of Mergers in the Sector (And Beyond)

​Aeon's potential increased stake in Tsuruha Holdings and possible merger with Welcia will likely prompt drugstore competitors to consider their...

Michael Causton

Japan's Drugstores Taking on – and Beating – Supermarkets

​Major food-drugstores dominate local supermarkets, leveraging high-profit pharmaceutical and cosmetics to discount foods. These players are...

Michael Causton

Drugstores in Japan: Winners and Losers

Japan's drugstore sector continues to grow but only a few retailers will emerge as winners as competitors carve out greater market share.

Michael Causton

Japanese Drugstores: The Best Retail Bet Japan Has

Japan's drugstore sector has been written off by many leading analysts in the past. They were wrong then and are wrong now. The sector has plenty...

Michael Causton

Japan's drugstore sector is consolidating through organic growth and M&A, with key players poised to dominate retailing in the next decade. But...

Aeon's potential increased stake in Tsuruha Holdings and possible merger with Welcia will likely prompt drugstore competitors to consider their...

Major food-drugstores dominate local supermarkets, leveraging high-profit pharmaceutical and cosmetics to discount foods. These players are...