Telco/Internet specialist

Kirk Boodry

Redex Research

Thematic (Sector/Industry)

<a href="https://www.smartkarma.com/entities/softbank-corp" target="_blank" data-smartkarma-citation="entities:27445:1" rel="noopener">Softbank Corp (9434 JP)</a> said today that it would launch commercial 5G services on 27 March with two handsets.  Nominally, 5G will cost an additional ¥1,000/month although the fee is being waived for the first two years and we expect that the operators will never collect 5G surcharges. Since 2011, Japanese mobile operators have traded higher speeds or larger bundles for revenue stability and there is no reason to think that changes as 5G proliferates.  For the incumbents, adding 5G to their already high-quality networks should help them compete with Rakuten, which despite an anticipated June 2020 5G launch, is really years away from matching incumbent quality.

Softbank Corp (9434 JP) said today that it would launch commercial 5G services on 27 March with two handsets.  Nominally, 5G will cost an additional ¥1,000/month although the fee is being waived for the first two years and we expect that the operators will never collect 5G surcharges. Since 2011, Japanese mobile operators have traded higher speeds or larger bundles for revenue stability and there is no reason to think that changes as 5G proliferates.  For the incumbents, adding 5G to their already high-quality networks should help them compete with Rakuten, which despite an anticipated June 2020 5G launch, is really years away from matching incumbent quality. 

Softbank Corp: Commercial 5G in Japan Arrives Later This Month

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. 

What statistics are available suggest that Japan lags behind China, USA and the UK in terms of e-commerce penetration but this position overlooks the single-minded shift of retailing to integrate e-commerce with traditional retailing.
Japan still has much to offer customers in the high street and these physical stores are now being heavily supplemented through online channels. Already we’re seeing the role of some stores shift towards showrooms making management more efficient and meaningful.
Japan is set to see the e-commerce sector as big as 20% of retail sales by 2024 and many of the operational problems holding online retail back globally, such as last mile fulfilment, could well be solved first in Japan.
Amazon, Rakuten and Softbank/Z/Zozo dominate the market and this dominance looks set to continue but other players are growing too with some retailers also finally working out how to make e-commerce work.

What statistics are available suggest that Japan lags behind China, USA and the UK in terms of e-commerce penetration but this position overlooks the single-minded shift of retailing to integrate e-commerce with traditional retailing.
Japan still has much to offer customers in the high street and these physical stores are now being heavily supplemented through online channels. Already we’re seeing the role of some stores shift towards showrooms making management more efficient and meaningful.
Japan is set to see the e-commerce sector as big as 20% of retail sales by 2024 and many of the operational problems holding online retail back globally, such as last mile fulfilment, could well be solved first in Japan.
Amazon, Rakuten and Softbank/Z/Zozo dominate the market and this dominance looks set to continue but other players are growing too with some retailers also finally working out how to make e-commerce work.

Japanese E-Commerce Review 2020: Softbank/Z, Rakuten and Amazon to Dominate Further

'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

ja research

ja research is an independent research platform focused exclusively on Japanese equities. Leveraging data and graphic analysis provided by Japan Analytics, we provide insights on small and medium-sized companies that have been ignored by the sell-side as well as challenging conventional wisdom on larger companies. We also offer analyst and corporate access, the latter with translation if required. 

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/115/943/original/2020-02-01_07-00-20.png?1580599138" class="editor-image img-responsive" data-smartkarma-image-id="115943"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/115/944/original/2020-02-02_08-38-57.png?1580600364" class="editor-image img-responsive" data-smartkarma-image-id="115944"></figure><div class="content-caption">Source • Japan Analytics</div>30TH JANUARY ROUNDUP - The downward trends in both our Results Score and Forecast/Revision Scores that have been building all week are now more apparent last Friday. On the second-busiest day of this quarter's 'calendar', there were 407 results and 114 forecasts or revisions announcements. The Results Score declined by nine basis points to 0.68, the lowest since April 2017 while the Forecast/Revision Score fell by 15bps and was last this low in December 2016. The 'upside gap' between the market and both Scores is still larger than at any time since our data series commenced and needs to close further. The Bank of Japan bought ETFs on three days last week and will be back in action on Monday.<hr>• SECTOR TIMELINE •<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/115/946/original/2020-02-02_09-01-27.png?1580601710" class="editor-image img-responsive" data-smartkarma-image-id="115946"></figure><div class="content-caption">Source • Japan Analytics</div>SECTOR TIMELINE - This quarter's Sector winners and losers are now emerging.  The former are lead by Banks, Non-Bank Finance, Machinery, Technology Hardware, and Electrical Equipment, with the losers being Transportation, Consumer Services, Healthcare, Utilities and Building Materials.  Of the top ten positive changes in all-cap Results Score on Friday, eight were in the financial sectors. A shift in earnings momentum leadership from consumer to finance and technology-related Sectors is in train.

Source • Japan Analytics30TH JANUARY ROUNDUP - The downward trends in both our Results Score and Forecast/Revision Scores that have been building all week are now more apparent last Friday. On the second-busiest day of this quarter's 'calendar', there were 407 results and 114 forecasts or revisions announcements. The Results Score declined by nine basis points to 0.68, the lowest since April 2017 while the Forecast/Revision Score fell by 15bps and was last this low in December 2016. The 'upside gap' between the market and both Scores is still larger than at any time since our data series commenced and needs to close further. The Bank of Japan bought ETFs on three days last week and will be back in action on Monday.• SECTOR TIMELINE •Source • Japan AnalyticsSECTOR TIMELINE - This quarter's Sector winners and losers are now emerging.  The former are lead by Banks, Non-Bank Finance, Machinery, Technology Hardware, and Electrical Equipment, with the losers being Transportation, Consumer Services, Healthcare, Utilities and Building Materials.  Of the top ten positive changes in all-cap Results Score on Friday, eight were in the financial sectors. A shift in earnings momentum leadership from consumer to finance and technology-related Sectors is in train.

🇯🇵 JAPAN • Results & Revisions Daily Roundup - 31st January ►6861 ▲9433 8473 ▼3099 9062 4922

As part of its recently held <a href="http://docomo-openhouse.jp/2020/en/index.html" target="_blank" rel="noopener">open house on network R&amp;D</a>, <a href="https://www.smartkarma.com/entities/ntt-docomo-inc" target="_blank" data-smartkarma-citation="entities:1089:1" rel="noopener">NTT Docomo Inc (9437 JP)</a> has released a white paper on 5G evolution and 6G.  The key takeaways from DoCoMo’s report are teething issues with 5G as network launches start plus a rough sketch of what mobile networks will look like beyond 2030.  That NTT DoCoMo issued this report is interesting because it highlights its position as the mobile operator with by far the most robust R&amp;D capability globally and a key partner for equipment vendors in determining mobile technology evolution. Unfortunately, the benefits of leadership are hard to quantify. On one hand, DoCoMo will be the first to 5G in Japan but even new entrant Rakuten with no existing network today will have 5G capability in the next few years.

As part of its recently held open house on network R&amp;D, NTT Docomo Inc (9437 JP) has released a white paper on 5G evolution and 6G.  The key takeaways from DoCoMo’s report are teething issues with 5G as network launches start plus a rough sketch of what mobile networks will look like beyond 2030.  That NTT DoCoMo issued this report is interesting because it highlights its position as the mobile operator with by far the most robust R&amp;D capability globally and a key partner for equipment vendors in determining mobile technology evolution. Unfortunately, the benefits of leadership are hard to quantify. On one hand, DoCoMo will be the first to 5G in Japan but even new entrant Rakuten with no existing network today will have 5G capability in the next few years. 

NTT DoCoMo Flags up Its 6G Vision. Yes, that Is a Six!

The Ministry of Industry Affairs and Communications (MIC, the regulator) will submit changes to the Radio Law next year that allow the use of shared spectrum for 5G. By the mid-2020s, the MIC hopes to have 10 GHz of spectrum deployed, which would increase the amount of spectrum available for the industry by more than 3x whilst use cases like tele-medicine and autonomous driving have been cited as key applications requiring a wider spectrum deployment.  Specific bands have not yet been identified but shared spectrum is a component of global 5G standards and in that sense this is not a surprising development. Spectrum awards should be considered positive for the industry and proposed rule changes from the MIC are a step in that direction.

The Ministry of Industry Affairs and Communications (MIC, the regulator) will submit changes to the Radio Law next year that allow the use of shared spectrum for 5G. By the mid-2020s, the MIC hopes to have 10 GHz of spectrum deployed, which would increase the amount of spectrum available for the industry by more than 3x whilst use cases like tele-medicine and autonomous driving have been cited as key applications requiring a wider spectrum deployment.  Specific bands have not yet been identified but shared spectrum is a component of global 5G standards and in that sense this is not a surprising development. Spectrum awards should be considered positive for the industry and proposed rule changes from the MIC are a step in that direction.

Japan Mobile: Rule Changes for 5G Spectrum Sharing Should Enable a Further 3x Increase in Bandwidth

Japan

KDDI CORPORATION provides mobile communication services and sells mobile devices.  The Company also is a broadband provider.

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KDDI Corp (9433 JP)

Softbank Corp: Commercial 5G in Japan Arrives Later This Month

Softbank Corp (9434 JP) said today that it would launch commercial 5G services on 27 March with two handsets. Nominally, 5G will cost an...

Kirk Boodry

Japanese E-Commerce Review 2020: Softbank/Z, Rakuten and Amazon to Dominate Further

What statistics are available suggest that Japan lags behind China, USA and the UK in terms of e-commerce penetration but this position overlooks...

Michael Causton

🇯🇵 JAPAN • Results & Revisions Daily Roundup - 31st January ►6861 ▲9433 8473 ▼3099 9062 4922

30TH JANUARY ROUNDUP - The downward trends in both our Results Score and Forecast/Revision Scores that have been building all week are now more...

Campbell Gunn

NTT DoCoMo Flags up Its 6G Vision. Yes, that Is a Six!

As part of its recently held open house on network R&D, NTT Docomo Inc (9437 JP) has released a white paper on 5G evolution and 6G. The key...

Kirk Boodry

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Softbank Corp: Commercial 5G in Japan Arrives Later This Month

Softbank Corp (9434 JP) said today that it would launch commercial 5G services on 27 March with two handsets. Nominally, 5G will cost an...

Kirk Boodry

Japanese E-Commerce Review 2020: Softbank/Z, Rakuten and Amazon to Dominate Further

What statistics are available suggest that Japan lags behind China, USA and the UK in terms of e-commerce penetration but this position overlooks...

Michael Causton

🇯🇵 JAPAN • Results & Revisions Daily Roundup - 31st January ►6861 ▲9433 8473 ▼3099 9062 4922

30TH JANUARY ROUNDUP - The downward trends in both our Results Score and Forecast/Revision Scores that have been building all week are now more...

Campbell Gunn

NTT DoCoMo Flags up Its 6G Vision. Yes, that Is a Six!

As part of its recently held open house on network R&D, NTT Docomo Inc (9437 JP) has released a white paper on 5G evolution and 6G. The key...

Kirk Boodry

Japan Mobile: Rule Changes for 5G Spectrum Sharing Should Enable a Further 3x Increase in Bandwidth

The Ministry of Industry Affairs and Communications (MIC, the regulator) will submit changes to the Radio Law next year that allow the use of...

Kirk Boodry