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>And ST’s online platform is becoming a popular channel for third-party brands. </li>
<li>It is increasingly regarded by the company as the future core of its business, not only in fashion but in other lifestyle products. </li>
<li>And ST is also signing more overseas brands to build up its portfolio.</li>
</ul>


And ST’s online platform is becoming a popular channel for third-party brands. 
It is increasingly regarded by the company as the future core of its business, not only in fashion but in other lifestyle products. 
And ST is also signing more overseas brands to build up its portfolio.


And ST (Adastria) Expands Mall Platform in Bid for ¥400 Billion in Sales

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-Japan in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Tokio Marine, Aeon, Itochu, Nippon Steel, Advantest, Rakuten, Sumitomo Mitsui Financial.</li>
</ul>


We analysed the earning revision of component stocks of MS-Japan in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Tokio Marine, Aeon, Itochu, Nippon Steel, Advantest, Rakuten, Sumitomo Mitsui Financial.


MS-Japan Index Earning Revision (Jan): Tokio Marine, Aeon, Itochu, Nippon Steel, Advantest, Rakuten

<ul>
<li>We analysed the earning revision of component stocks of TOPIX CORE 30 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Toyota Motor, Itochu, Tokio Marine, SoftBank, Mitsubishi UFJ Financial, Takeda Pharmaceutical, Advantest.</li>
</ul>


We analysed the earning revision of component stocks of TOPIX CORE 30 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Toyota Motor, Itochu, Tokio Marine, SoftBank, Mitsubishi UFJ Financial, Takeda Pharmaceutical, Advantest.


TOPIX CORE 30 Index Earning Revision (Jan): Toyota Motor, Itochu, Tokio Marine, SoftBank

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mamezo-co-ltd" target="_blank" data-smartkarma-citation="entities:46031:1" rel="noopener">Mamezo (202A JP)</a> has announced a tender offer from <a href="https://www.smartkarma.com/entities/eqt-ab" target="_blank" data-smartkarma-citation="entities:28922:1" rel="noopener">EQT (EQT SS)</a> at JPY3,551, a 11.7% discount to the last close but a 18.4% premium to the undisturbed price. </li>
<li>The offer is below the midpoint of the IFA DCF valuation range and the special committee’s requested price. However, EQT’s offer was the highest received in an auction process. </li>
<li>Irrevocables (Integral) exceed the two-thirds voting threshold. Therefore, there is no lower limit, and this is a done deal.</li>
</ul>



Mamezo (202A JP) has announced a tender offer from EQT (EQT SS) at JPY3,551, a 11.7% discount to the last close but a 18.4% premium to the undisturbed price. 
The offer is below the midpoint of the IFA DCF valuation range and the special committee’s requested price. However, EQT’s offer was the highest received in an auction process. 
Irrevocables (Integral) exceed the two-thirds voting threshold. Therefore, there is no lower limit, and this is a done deal.


Mamezo (202A JP): EQT’s Takeunder Offer at JPY3,551

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Jan 9th. The aggregated net margin trading position is USD20,644m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in Shibaura Electronics, SoftBank, Skylark, Kioxia, McDonald's, Ise Chemicals, Mitsubishi UFJ Financial, Disco, Itochu, Mitsubishi Heavy Industries, Shibaura Electronics, Softbank, Skylark, Kioxia, Mcdonald'S.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jan 9th. The aggregated net margin trading position is USD20,644m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in Shibaura Electronics, SoftBank, Skylark, Kioxia, McDonald's, Ise Chemicals, Mitsubishi UFJ Financial, Disco, Itochu, Mitsubishi Heavy Industries, Shibaura Electronics, Softbank, Skylark, Kioxia, Mcdonald'S.


JPX Margin Trading Weekly (Jan 9th): Shibaura Electronics, SoftBank, Skylark, Kioxia, McDonald's

Japan

ITOCHU Corporation is a general trading firm handling textiles, wood, machinery, metals, food, chemicals, construction materials, commodities, and energy related products such as oil and gas. The Company operates around the world. Itochu diversifies by operating in satellite communication and data communication businesses.

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Itochu Corp (8001 JP)

And ST (Adastria) Expands Mall Platform in Bid for ¥400 Billion in Sales

ST's online platform is now popular with third-party brands, and seen as the future of the company's business in fashion and other lifestyle...

Michael Causton

MS-Japan Index Earning Revision (Jan): Tokio Marine, Aeon, Itochu, Nippon Steel, Advantest, Rakuten

We analyzed MS-Japan's consensus for Jan 2026 and highlighted changes of EPS in Tokio Marine, Aeon, Itochu, Nippon Steel, Advantest, Rakuten,...

Ke Yan, CFA, FRM

TOPIX CORE 30 Index Earning Revision (Jan): Toyota Motor, Itochu, Tokio Marine, SoftBank

We analyzed TOPIX CORE 30's consensus for Jan 2026 and highlighted changes of EPS in Toyota Motor, Itochu, Tokio Marine, SoftBank, Mitsubishi UFJ...

Ke Yan, CFA, FRM

Mamezo (202A JP): EQT’s Takeunder Offer at JPY3,551

Despite being the result of an auction, the offer is below the midpoint of the IFA DCF valuation range. However, due to irrevocables, this is a...

Arun George

JPX Margin Trading Weekly (Jan 9th): Shibaura Electronics, SoftBank, Skylark, Kioxia, McDonald's

We analyzed JPX margin trading positions report for the past week and highlighted Shibaura Electronics (6957 JP), SoftBank (9984 JP), Skylark (3197...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

And ST (Adastria) Expands Mall Platform in Bid for ¥400 Billion in Sales

​ST's online platform is now popular with third-party brands, and seen as the future of the company's business in fashion and other lifestyle...

Michael Causton

MS-Japan Index Earning Revision (Jan): Tokio Marine, Aeon, Itochu, Nippon Steel, Advantest, Rakuten

We analyzed MS-Japan's consensus for Jan 2026 and highlighted changes of EPS in Tokio Marine, Aeon, Itochu, Nippon Steel, Advantest, Rakuten,...

Ke Yan, CFA, FRM

TOPIX CORE 30 Index Earning Revision (Jan): Toyota Motor, Itochu, Tokio Marine, SoftBank

We analyzed TOPIX CORE 30's consensus for Jan 2026 and highlighted changes of EPS in Toyota Motor, Itochu, Tokio Marine, SoftBank, Mitsubishi UFJ...

Ke Yan, CFA, FRM

Mamezo (202A JP): EQT’s Takeunder Offer at JPY3,551

Despite being the result of an auction, the offer is below the midpoint of the IFA DCF valuation range. However, due to irrevocables, this is a...

Arun George

JPX Margin Trading Weekly (Jan 9th): Shibaura Electronics, SoftBank, Skylark, Kioxia, McDonald's

We analyzed JPX margin trading positions report for the past week and highlighted Shibaura Electronics (6957 JP), SoftBank (9984 JP), Skylark (3197...

Ke Yan, CFA, FRM

ST's online platform is now popular with third-party brands, and seen as the future of the company's business in fashion and other lifestyle...