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>Descente has improved profitability since being taken over by Itochu three years ago but much of the growth has come from overseas. </li>
<li>The Descente brand remains weak in Japan but Itochu has plans to rebuild the eponymous label by splitting it into two while creating several new brands.</li>
<li>The plans should help recover momentum in Japan and drive further expansion in China and even into Europe and the US.</li>
</ul>


Descente has improved profitability since being taken over by Itochu three years ago but much of the growth has come from overseas. 
The Descente brand remains weak in Japan but Itochu has plans to rebuild the eponymous label by splitting it into two while creating several new brands.
The plans should help recover momentum in Japan and drive further expansion in China and even into Europe and the US.


<ul>
<li>After decades of industrial, urban focus, city-dwelling Japanese first began a tentative reengagement with nature through hiking two decades ago. </li>
<li>This has evolved into more extended trips that began to include camping and visits to wilder areas.</li>
<li>These excursions are still a bit forbidding for many, so camping and outdoor activities in a park managed by a trusted brand have strong appeal, providing new revenue for brands.</li>
</ul>


After decades of industrial, urban focus, city-dwelling Japanese first began a tentative reengagement with nature through hiking two decades ago. 
This has evolved into more extended trips that began to include camping and visits to wilder areas.
These excursions are still a bit forbidding for many, so camping and outdoor activities in a park managed by a trusted brand have strong appeal, providing new revenue for brands.


Branded Camping from Goldwin and Snow Peak

<ul>
<li>
<a href="https://www.smartkarma.com/entities/goldwin-inc" target="_blank" data-smartkarma-citation="entities:410:1" rel="noopener">Goldwin Inc (8111 JP)</a> has risen to hold a leading share in outdoor wear retailing on the back of the success of The North Face.</li>
<li>It has developed considerable retail and marketing skills in the process and is now applying these to its own brand with hopes of going global.</li>
<li>Demand for new forms of sports and outdoor brand remain strong in Japan and globally and Goldwin's mix of technical fabrics and quality could give it an edge.</li>
</ul>



Goldwin Inc (8111 JP) has risen to hold a leading share in outdoor wear retailing on the back of the success of The North Face.
It has developed considerable retail and marketing skills in the process and is now applying these to its own brand with hopes of going global.
Demand for new forms of sports and outdoor brand remain strong in Japan and globally and Goldwin's mix of technical fabrics and quality could give it an edge.


<ul>
<li>Descente Ltd (8114 JP)  is about the same size as Goldwin but has traditionally depended for half of its sales on South Korea.</li>
<li>
<a href="https://www.smartkarma.com/entities/itochu-corp" target="_blank" data-smartkarma-citation="entities:18448:1" rel="noopener">Itochu Corp (8001 JP)</a> acquired control in a fraught battle with management, in order to reduce this dependence. As a result, Descente managed a return to the black in 1H202.</li>
<li>It has ambitious plans to create a set of brands strong both at home and abroad by copying much of Goldwin’s playbook, particularly its investment in retail and online.</li>
</ul>


Descente Ltd (8114 JP)  is about the same size as Goldwin but has traditionally depended for half of its sales on South Korea.

Itochu Corp (8001 JP) acquired control in a fraught battle with management, in order to reduce this dependence. As a result, Descente managed a return to the black in 1H202.
It has ambitious plans to create a set of brands strong both at home and abroad by copying much of Goldwin’s playbook, particularly its investment in retail and online.


Thematic (Sector/Industry)

The latest Census in Japan confirms the ongoing fall in total population across most of the country but reveals surprising growth markets in small pockets, particularly around Greater Tokyo which now accounts for just under 30% of the total population.There are also ever growing numbers of single people, expanding the promising solo market. In the bigger cities, younger people bring new types of consumption but the increase in older singles is a growing problem.The following provides background macro trends for any investor looking at the Japan consumer space and some stocks we think will benefit from these macro trends.

The latest Census in Japan confirms the ongoing fall in total population across most of the country but reveals surprising growth markets in small pockets, particularly around Greater Tokyo which now accounts for just under 30% of the total population.There are also ever growing numbers of single people, expanding the promising solo market. In the bigger cities, younger people bring new types of consumption but the increase in older singles is a growing problem.The following provides background macro trends for any investor looking at the Japan consumer space and some stocks we think will benefit from these macro trends.

Shrinking, Ageing Japan but a Growing Solo Market

Japan

GOLDWIN INC. manufactures and markets sportswear for skiing, snowboarding, soccer, tennis, swimming, and other outdoor activities.

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Goldwin Inc (8111 JP)

Descente Puts on Some Pace

Japanese outdoor brands are on a roll. Descente, now part of the Itochu empire, is rebuilding its brand at home and overseas, with significant...

Michael Causton

Branded Camping from Goldwin and Snow Peak

Branded camping and outdoor leisure in Japan is big business and will provide new revenue streams for the leaders, Goldwin and Snow Peak, over the...

Michael Causton

Goldwin Expecting Record Sales

Goldwin is a Japanese sports/outdoor success story but much of this success has relied on a foreign brand, The North Face. Goldwin now wants to...

Michael Causton

Descente: The Next Goldwin?

Japan's outdoor/sports market remains one of the few consistent growth categories in consumer markets. Goldwin was the most visible success story...

Michael Causton

Shrinking, Ageing Japan but a Growing Solo Market

Japan's population is contracting but there are areas of growth, particularly the solo market (single people living alone) and the senior market....

Michael Causton

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