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>Core inflation rates remain stubbornly high and real wages are still falling. </li>
<li>Surveys suggest one more major round of price hikes in October but the government still thinks prices will stabilise below its 2% target by the end of the year.</li>
<li>The increases are lowering consumer confidence – bad news for most retailers, although major discount chains are making hay while the sun, well, doesn’t shine.</li>
</ul>


Core inflation rates remain stubbornly high and real wages are still falling. 
Surveys suggest one more major round of price hikes in October but the government still thinks prices will stabilise below its 2% target by the end of the year.
The increases are lowering consumer confidence – bad news for most retailers, although major discount chains are making hay while the sun, well, doesn’t shine.


Japanese Prices Rise Again; 60% of Consumers Feeling the Pinch and Looking for Better Value

<ul>
<li>Japan's drugstore sector is in the midst of consolidation through organic expansion and M&amp;A but who are the leaders and how do they compare?</li>
<li>We provide snapshot profiles on each of the key players, their current strategies and future outlook.</li>
<li>With the sector increasingly threatening the supermarket and convenience store sectors, many of these names will come to dominate Japanese retailing in the next decade.</li>
</ul>


Japan's drugstore sector is in the midst of consolidation through organic expansion and M&amp;A but who are the leaders and how do they compare?
We provide snapshot profiles on each of the key players, their current strategies and future outlook.
With the sector increasingly threatening the supermarket and convenience store sectors, many of these names will come to dominate Japanese retailing in the next decade.


<ul>
<li>The big merger between Welcia and Tsuruha is part of a wider concentration of market share in the drugstore sector as the leaders take on supermarkets and even convenience stores.</li>
<li>Japan's drugstores have morphed into multiple sub-formats, selling food and other FMCG products in ever higher ratios, creating massive pressure for other sectors. </li>
<li>The net effect is the emergence of a powerful new retail sector that is impacting all other FMCG retail formats and even lifestyle categories like cosmetics.</li>
</ul>


The big merger between Welcia and Tsuruha is part of a wider concentration of market share in the drugstore sector as the leaders take on supermarkets and even convenience stores.
Japan's drugstores have morphed into multiple sub-formats, selling food and other FMCG products in ever higher ratios, creating massive pressure for other sectors. 
The net effect is the emergence of a powerful new retail sector that is impacting all other FMCG retail formats and even lifestyle categories like cosmetics.


Japan Drugstores: More M&A as Sector Attacks Supermarkets and Conbini

<ul>
<li>Major food-drugstores like Kusuri no Aoki and Genky Drugstores continue to pressure local supermarket competition. </li>
<li>The model of funding discount foods and FMCG via high profit pharmaceutical and cosmetics ranges is one that traditional food chains cannot match.</li>
<li>Now the largest players are creating brands and expanding into new regions. Many analysts have predicted saturation in the sector in the last decade. They continue to be wrong.</li>
</ul>


Major food-drugstores like Kusuri no Aoki and Genky Drugstores continue to pressure local supermarket competition. 
The model of funding discount foods and FMCG via high profit pharmaceutical and cosmetics ranges is one that traditional food chains cannot match.
Now the largest players are creating brands and expanding into new regions. Many analysts have predicted saturation in the sector in the last decade. They continue to be wrong.


Japan's Drugstores Taking on – and Beating – Supermarkets

Japan Specialist

Mark Chadwick

<ul>
<li>
Market: The broader Topix Index ended the week 59 points, or -2.6%,</li>
<li>
Movers: Kusuri No Aoki Holdings shares rose sharply this week after the Japanese drugstore operator's first-quarter profit climbed (+49% yoy)</li>
<li>
Activist Watch: Dalton have also taken significant positions in Rinnai and Nitta</li>
</ul>



Market: The broader Topix Index ended the week 59 points, or -2.6%,

Movers: Kusuri No Aoki Holdings shares rose sharply this week after the Japanese drugstore operator's first-quarter profit climbed (+49% yoy)

Activist Watch: Dalton have also taken significant positions in Rinnai and Nitta


Japan Weekly | Kusuri No Aoki, Inpex, Mit Motors, Rinnai

Japan

Kusuri no Aoki Holdings Co., Ltd. operates as a holding company. The Company, through its subsidiaries, provides medicines, cosmetics, health foods, beauty care, and household products. Kusuri no Aoki Holdings serves customers in Japan.

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Kusuri no Aoki Holdings (3549 JP)

Japanese Prices Rise Again; 60% of Consumers Feeling the Pinch and Looking for Better Value

Japanese consumer markets have three big trends: higher prices/squeezed incomes, doubling of single households and more people feeling the pinch....

Michael Causton

Leaders of Japan's Drugstore Sector

Japan's drugstore sector is consolidating through organic growth and M&A, with key players poised to dominate retailing in the next decade. But...

Michael Causton

Japan Drugstores: More M&A as Sector Attacks Supermarkets and Conbini

The merger of Welcia and Tsuruha reflects market consolidation in Japan's drugstore sector, with major attacks on supermarkets and even conbinis....

Michael Causton

Japan's Drugstores Taking on – and Beating – Supermarkets

Major food-drugstores dominate local supermarkets, leveraging high-profit pharmaceutical and cosmetics to discount foods. These players are...

Michael Causton

Japan Weekly | Kusuri No Aoki, Inpex, Mit Motors, Rinnai

Japanese market declines as Topix Index falls 2.6%, while Kusuri No Aoki Holdings sees profit rise and Dalton takes positions in Rinnai and Nitta.

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japanese Prices Rise Again; 60% of Consumers Feeling the Pinch and Looking for Better Value

Japanese consumer markets have three big trends: higher prices/squeezed incomes, doubling of single households and more people feeling the pinch....

Michael Causton

Leaders of Japan's Drugstore Sector

​Japan's drugstore sector is consolidating through organic growth and M&A, with key players poised to dominate retailing in the next decade. But...

Michael Causton

Japan Drugstores: More M&A as Sector Attacks Supermarkets and Conbini

​The merger of Welcia and Tsuruha reflects market consolidation in Japan's drugstore sector, with major attacks on supermarkets and even conbinis....

Michael Causton

Japan's Drugstores Taking on – and Beating – Supermarkets

​Major food-drugstores dominate local supermarkets, leveraging high-profit pharmaceutical and cosmetics to discount foods. These players are...

Michael Causton

Japan Weekly | Kusuri No Aoki, Inpex, Mit Motors, Rinnai

​Japanese market declines as Topix Index falls 2.6%, while Kusuri No Aoki Holdings sees profit rise and Dalton takes positions in Rinnai and Nitta.

Mark Chadwick

Japan's drugstore sector is consolidating through organic growth and M&A, with key players poised to dominate retailing in the next decade. But...

The merger of Welcia and Tsuruha reflects market consolidation in Japan's drugstore sector, with major attacks on supermarkets and even conbinis....

Major food-drugstores dominate local supermarkets, leveraging high-profit pharmaceutical and cosmetics to discount foods. These players are...

Japanese market declines as Topix Index falls 2.6%, while Kusuri No Aoki Holdings sees profit rise and Dalton takes positions in Rinnai and Nitta.