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>The number of new mall developments in 2024 in Japan held steady but will collapse in 2025 due to higher costs, lower demand and a lack of labour.</li>
<li>At the same time, for existing malls, sales were robust through 2023 and 2024 and look set to continue at higher levels despite consumer restraint.</li>
<li>Both locals and tourists alike use malls for leisure, entertainment and shopping and, as the number of malls falls, and upgrades continue, efficiency is improving.</li>
</ul>


The number of new mall developments in 2024 in Japan held steady but will collapse in 2025 due to higher costs, lower demand and a lack of labour.
At the same time, for existing malls, sales were robust through 2023 and 2024 and look set to continue at higher levels despite consumer restraint.
Both locals and tourists alike use malls for leisure, entertainment and shopping and, as the number of malls falls, and upgrades continue, efficiency is improving.


Japan Shopping Mall Sector in 2025: Robust Sales, Fewer Doors

<ul>
<li>That department stores in city centres did well in 2024 won’t be a surprise to anyone given the support from inbound tourists buying luxury goods on a cheap Yen.</li>
<li>But that the sector overall managed to exceed 2019 sales is an achievement given the ongoing contraction in the regions.</li>
<li>The gap is widening further between the best and the rest but the top firms look set to continue increasing profits as they work to add value to existing buildings.</li>
</ul>


That department stores in city centres did well in 2024 won’t be a surprise to anyone given the support from inbound tourists buying luxury goods on a cheap Yen.
But that the sector overall managed to exceed 2019 sales is an achievement given the ongoing contraction in the regions.
The gap is widening further between the best and the rest but the top firms look set to continue increasing profits as they work to add value to existing buildings.


Department Store Sales Higher than Pre-Covid

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.</li>
<li>The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.</li>
<li>Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-February 2025.</li>
</ul>


JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.
The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.
Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-February 2025.


Quiddity JPX-Nikkei 400 Rebal 2025: End-Feb 2025 Ranks

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>Tech and Semi's rebounding sharply which should see related names in JP trade better after yesterdays persistent weakness.</li>
<li>Da Vinci procedures seeing strong growth...will Sysmex's Hinotori also fly? </li>
<li>Tourist numbers surging in JP should see YTD losers back in the spotlight.</li>
</ul>


Tech and Semi's rebounding sharply which should see related names in JP trade better after yesterdays persistent weakness.
Da Vinci procedures seeing strong growth...will Sysmex's Hinotori also fly? 
Tourist numbers surging in JP should see YTD losers back in the spotlight.


Japan Morning Connection: CPI to the Rescue for Risk-On Growth Style Plays

<ul>
<li>JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.</li>
<li>The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.</li>
<li>Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-<em>December</em> 2024.</li>
</ul>


JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.
The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.
Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-December 2024.


Quiddity JPX-Nikkei 400 Rebal 2025: End-Dec 2024 Ranks

Japan

Isetan Mitsukoshi Holdings Ltd. is a holding company established through a merger of Mitsukoshi and Isetan. The group operates department stores nationwide, selling clothing, foods, household goods, cosmetics and general merchandise.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Isetan Mitsukoshi Holdings Ltd (3099 JP)

Japan Shopping Mall Sector in 2025: Robust Sales, Fewer Doors

New mall developments in Japan to collapse in 2025 due to higher costs, lower demand, and lack of labor, while existing malls see robust sales and...

Michael Causton

Department Store Sales Higher than Pre-Covid

City center department stores thrived in 2024 thanks to tourist spending, while the sector as a whole surpassed 2019 sales despite regional...

Michael Causton

Quiddity JPX-Nikkei 400 Rebal 2025: End-Feb 2025 Ranks

There are 45 Potential ADDs and 44 Potential DELs (unique names) presented in the current Quiddity Leaderboard. The High and Medium conviction ADDs...

Janaghan Jeyakumar, CFA

Japan Morning Connection: CPI to the Rescue for Risk-On Growth Style Plays

Tech and Semi's rebounding should be positive for related JP names. Da Vinci procedures show strong numbers - what of Hinotori? JP tourist numbers...

Andrew Jackson

Quiddity JPX-Nikkei 400 Rebal 2025: End-Dec 2024 Ranks

The LONGs have outperformed the SHORTs by 3.1% in December 2024. The HIGH and MED potential ADDs could continue to outperform the HIGH and MED...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Shopping Mall Sector in 2025: Robust Sales, Fewer Doors

​New mall developments in Japan to collapse in 2025 due to higher costs, lower demand, and lack of labor, while existing malls see robust sales and...

Michael Causton

Department Store Sales Higher than Pre-Covid

​City center department stores thrived in 2024 thanks to tourist spending, while the sector as a whole surpassed 2019 sales despite regional...

Michael Causton

Quiddity JPX-Nikkei 400 Rebal 2025: End-Feb 2025 Ranks

There are 45 Potential ADDs and 44 Potential DELs (unique names) presented in the current Quiddity Leaderboard. The High and Medium conviction ADDs...

Janaghan Jeyakumar, CFA

Japan Morning Connection: CPI to the Rescue for Risk-On Growth Style Plays

​Tech and Semi's rebounding should be positive for related JP names. Da Vinci procedures show strong numbers - what of Hinotori? JP tourist numbers...

Andrew Jackson

Quiddity JPX-Nikkei 400 Rebal 2025: End-Dec 2024 Ranks

The LONGs have outperformed the SHORTs by 3.1% in December 2024. The HIGH and MED potential ADDs could continue to outperform the HIGH and MED...

Janaghan Jeyakumar, CFA

New mall developments in Japan to collapse in 2025 due to higher costs, lower demand, and lack of labor, while existing malls see robust sales and...

City center department stores thrived in 2024 thanks to tourist spending, while the sector as a whole surpassed 2019 sales despite regional...

Tech and Semi's rebounding should be positive for related JP names. Da Vinci procedures show strong numbers - what of Hinotori? JP tourist numbers...