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. 

Private Capital Markets

Kansai Food Market / Private Capital Markets

<ul>
<li>After only opening its first Kansai store in November 2024, OK Super added its seventh store in the region in January.</li>
<li>It will add six more this year alone and has become an immediate success thanks to its low prices.</li>
<li>It is increasingly a threat to the main incumbents, especially the more traditional Mandai and <a href="https://www.smartkarma.com/entities/kansai-super-market-ltd" target="_blank" data-smartkarma-citation="entities:15519:1" rel="noopener">Kansai Food Market (9919 JP)</a> in particular.</li>
</ul>


After only opening its first Kansai store in November 2024, OK Super added its seventh store in the region in January.
It will add six more this year alone and has become an immediate success thanks to its low prices.
It is increasingly a threat to the main incumbents, especially the more traditional Mandai and Kansai Food Market (9919 JP) in particular.


OK Super a Threat to Kansai Supermarket Incumbents

Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

<ul><li>The company applied ASBJ Statement No. 29 in FY03/22, affecting revenue recognition and sales commission calculations.</li><li>In FY03/26, gross sales increased 0.2% YoY, while operating profit declined 7.0% YoY due to higher expenses.</li><li>For FY03/27, H2O forecasts a 0.4% YoY increase in operating profit, despite higher personnel and utility expenses.</li></ul>

The company applied ASBJ Statement No. 29 in FY03/22, affecting revenue recognition and sales commission calculations.In FY03/26, gross sales increased 0.2% YoY, while operating profit declined 7.0% YoY due to higher expenses.For FY03/27, H2O forecasts a 0.4% YoY increase in operating profit, despite higher personnel and utility expenses.

H2O Retailing (8242 JP): Full-year FY03/26 flash update

<ul><li>In cumulative Q3 FY03/26, Department Store and Shopping Center businesses saw YoY sales and profit declines, while Supermarket business increased.</li><li>Department Store business sales fell 10% YoY in Q1, 1% YoY in Q2, and remained flat YoY in Q3.</li><li>Supermarket business operating profit rose 14.5% YoY, driven by higher gross profit from sales growth despite increased SG&A expenses.</li></ul>

In cumulative Q3 FY03/26, Department Store and Shopping Center businesses saw YoY sales and profit declines, while Supermarket business increased.Department Store business sales fell 10% YoY in Q1, 1% YoY in Q2, and remained flat YoY in Q3.Supermarket business operating profit rose 14.5% YoY, driven by higher gross profit from sales growth despite increased SG&A expenses.

H2O Retailing (8242 JP): Q3 FY03/26 flash update

Thematic (Sector/Industry)

<ul>
<li>Japan’s top retailers had a strong FY2025, with the top 81 companies now controlling 48% of all retail sales, up 5.2 points in a single year.</li>
<li>It was a year defined as much by reconfiguration as growth, with drugstores, discounters and e-commerce taking share from supermarkets, department stores and home centres.</li>
<li>A wave of M&amp;A reshaped the competitive map faster than organic performance alone could explain. This focus examines what results reveal about where Japanese retail is heading next.</li>
</ul>


Japan’s top retailers had a strong FY2025, with the top 81 companies now controlling 48% of all retail sales, up 5.2 points in a single year.
It was a year defined as much by reconfiguration as growth, with drugstores, discounters and e-commerce taking share from supermarkets, department stores and home centres.
A wave of M&amp;A reshaped the competitive map faster than organic performance alone could explain. This focus examines what results reveal about where Japanese retail is heading next.


M&A a Key Tool to Gain Market Share in Japanese Retailing

<ul>
<li>Record tourism in Japan is feeding the coffers of hotels, holiday lets and restaurants but retailers are benefiting less because Chinese make up a declining proportion. </li>
<li>This is a huge problem because Chinese spend more than double other nations on shopping despite spending fewer days there on holiday.</li>
<li>With the Chinese government recommending its citizens stay away from Japan, the outlook for duty-free shopping is not as rosy as it could be.</li>
</ul>


Record tourism in Japan is feeding the coffers of hotels, holiday lets and restaurants but retailers are benefiting less because Chinese make up a declining proportion. 
This is a huge problem because Chinese spend more than double other nations on shopping despite spending fewer days there on holiday.
With the Chinese government recommending its citizens stay away from Japan, the outlook for duty-free shopping is not as rosy as it could be.


Record Tourism Not Boosting Japanese Retailers as Chinese Stay Away

Japan

H2O RETAILING CORPORATION founded in Osaka in 1929, operates railway terminal department stores.  The Company's main store is located at Hankyu terminal in Umeda (Osaka) and sells clothing, foods, sundry goods, furniture, and household utensils.  H2O Retailing also operates restaurants and coffee shops.

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H2O Retailing (8242 JP)

OK Super a Threat to Kansai Supermarket Incumbents

OK Super rapidly expanding in Kansai region, posing a threat to traditional incumbents with its low prices, especially Kansai Food Market.

Michael Causton