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)

JapanConsuming’s retail ranking for FY2017 has now been compiled, and the results show that the retail industry enjoyed another extremely good year in FY2017. 
There are now 79 companies with sales of ¥250 billion or more, including franchise operators and holding companies, and overall sales grew by 4.5%, way ahead of the 1.9% growth in retail sales overall, showing how much the bigger businesses are outperforming the rest of the sector, and how quickly they are eating up market share.
What follows is a comprehensive review of the major developments, focusing on the two key trends of e-commerce and greater group concentration, with an analysis of each of the major format sectors in the ranking.
It’s a long read but provides a complete and concise summary of both winners and losers, and the key trends in the retail sector at the moment.

JapanConsuming’s retail ranking for FY2017 has now been compiled, and the results show that the retail industry enjoyed another extremely good year in FY2017. 
There are now 79 companies with sales of ¥250 billion or more, including franchise operators and holding companies, and overall sales grew by 4.5%, way ahead of the 1.9% growth in retail sales overall, showing how much the bigger businesses are outperforming the rest of the sector, and how quickly they are eating up market share.
What follows is a comprehensive review of the major developments, focusing on the two key trends of e-commerce and greater group concentration, with an analysis of each of the major format sectors in the ranking.
It’s a long read but provides a complete and concise summary of both winners and losers, and the key trends in the retail sector at the moment.

Retail Ranking FY2017-18: Winners and Losers in Japanese Retailing

Fintech, Real-time Big-Data Analytics Provider, Nowcast, Inc.

Ryota Hayashi

Fintech, Real-time Big-Data Analytics Provider

Nowcast, Inc.

We at Nowcast develop "Big-Data Economic Analytics Platforms".  We aim to revolutionize the financial markets by providing "accurate" and "real-time" analytics based on economic indicators and corporate activity data procured worldwide. 

Our Main Services

(1) Real-time Analytics
With our Nikkei CPI Now Index at our core, we provide real time analytics of global economic indicators such as POS Data. By utilizing Big-Data technology, we also provide real-time analytics of micro level data such as corporate earnings. 

(2) Big-Data Application Consulting
We too provide business consultation and conduct joint research on initiatives that strive to use data, such as from the operation capacity of construction machinery to number of passengers on railroad trains, as economic indicators. We provide continuous support to Data Scientists specialized in economics in their proposal stage, product development and up till its business development. 

(3) Monetary Policy Insights
With the proactive involvement of and support from from academicians in macroeconomics & key figures in the financial industry, we produce reports, conduct seminars and meetings that discuss about the forecast of financial markets, provide intellectual suggestions on asset allocation, etc. 

Macroeconomics

<ul class="ember-tether-target ember-tether-element-attached-top ember-tether-element-attached-left ember-tether-target-attached-top ember-tether-target-attached-right"><li>"Nikkei CPINow" is a statistical database produced by Nowcast Inc. that provides real-time economic statistics using so-called “big data” gathered on a real-time basis; making it possible to “nowcast” economic developments, that is, to gauge them almost in real time.</li><li>Nikkei CPINow was launched in January 2016, disseminating the new “CPINow” price indeces, which succeeds and improves upon the Nikkei UTokyo Daily Price Index.</li><li>This December 2016 Review looks into analyzing the current developments in Japan's economy based on The Nikkei CPINow S index &amp; T index.</li></ul>

"Nikkei CPINow" is a statistical database produced by Nowcast Inc. that provides real-time economic statistics using so-called “big data” gathered on a real-time basis; making it possible to “nowcast” economic developments, that is, to gauge them almost in real time.Nikkei CPINow was launched in January 2016, disseminating the new “CPINow” price indeces, which succeeds and improves upon the Nikkei UTokyo Daily Price Index.This December 2016 Review looks into analyzing the current developments in Japan's economy based on The Nikkei CPINow S index &amp; T index.

December 2016 Review of Current Developments in Japan's Economy

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

While it is not a given that a switch from a high growth, high interest rate environment to a low growth, low interest rate environment is a good one for equities in general, it should be good for defensive stocks, because these are the most bond-like of equities and the switch almost defines a fixed income bull market. Japan may not have been particularly high growth or high interest rate in 2000, but it was certainly higher growth and higher interest rate than today, and it is no surprise that defensive sectors like foods (+210% relative to Topix since 1999) and pharmaceuticals (+160%) have done very well over this time. The question, now, is whether this is set to continue, or whether we might have hit a turning point.

While it is not a given that a switch from a high growth, high interest rate environment to a low growth, low interest rate environment is a good one for equities in general, it should be good for defensive stocks, because these are the most bond-like of equities and the switch almost defines a fixed income bull market. Japan may not have been particularly high growth or high interest rate in 2000, but it was certainly higher growth and higher interest rate than today, and it is no surprise that defensive sectors like foods (+210% relative to Topix since 1999) and pharmaceuticals (+160%) have done very well over this time.  The question, now, is whether this is set to continue, or whether we might have hit a turning point.

Event-Driven

<ul>
<li>Yaoko is now called Blue Zone Holdings, and is shaking up Japan’s supermarket landscape by acquiring two well-matched regional chains just weeks after its launch. </li>
<li>The company plans to accelerate plans to acquire other smaller supermarket chains to build out into a national chain.</li>
<li>The plan also signals a new wave of M&amp;A in the sector as barriers to supermarket consolidation finally start to fall.</li>
</ul>


Yaoko is now called Blue Zone Holdings, and is shaking up Japan’s supermarket landscape by acquiring two well-matched regional chains just weeks after its launch. 
The company plans to accelerate plans to acquire other smaller supermarket chains to build out into a national chain.
The plan also signals a new wave of M&amp;A in the sector as barriers to supermarket consolidation finally start to fall.


Yaoko Spearheads M&A Rush in Japanese Supermarket Sector

Equity Bottom-Up

<ul>
<li>Deep discounter OK Super’s entry into the Kansai market is causing local competitors real headaches –one estimate says it has taken 10% share around its first store already. </li>
<li>OK has exposed just how derivative most existing chains have become and, with the introduction of genuine price competition at a time when consumers are increasingly price sensitive</li>
<li>While OK Super is a private company, some of the competitors are listed like Kansai Food Market who, without new ideas, will suffer in the next three years.</li>
</ul>


Deep discounter OK Super’s entry into the Kansai market is causing local competitors real headaches –one estimate says it has taken 10% share around its first store already. 
OK has exposed just how derivative most existing chains have become and, with the introduction of genuine price competition at a time when consumers are increasingly price sensitive
While OK Super is a private company, some of the competitors are listed like Kansai Food Market who, without new ideas, will suffer in the next three years.


OK Super: Disrupting Kansai Supermarket Sector

Japan

LIFE CORPORATION operates a supermarket chain mainly in Kansai and Kanto areas. The Company sells mainly groceries, and also clothing, and household utensils.

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Life Corp (8194 JP)

Retail Ranking FY2017-18: Winners and Losers in Japanese Retailing

JapanConsuming’s retail ranking for FY2017 has now been compiled, and the results show that the retail industry enjoyed another extremely good year...

Michael Causton

December 2016 Review of Current Developments in Japan's Economy

"Nikkei CPINow" is a statistical database produced by Nowcast Inc. that provides real-time economic statistics using so-called “big data”...

Nowcast, Inc.

Death Rattle for Defensives?

While it is not a given that a switch from a high growth, high interest rate environment to a low growth, low interest rate environment is a good...

Pelham Smithers Associates

Yaoko Spearheads M&A Rush in Japanese Supermarket Sector

Blue Zone Holdings (Yaoko), is expanding in by acquiring regional chains, with plans to become a national chain through further M&A, part of a new...

Michael Causton

OK Super: Disrupting Kansai Supermarket Sector

OK Super's entry into the Kansai market is shaking up local competitors with its deep discounts, posing a threat to existing chains lacking...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Retail Ranking FY2017-18: Winners and Losers in Japanese Retailing

JapanConsuming’s retail ranking for FY2017 has now been compiled, and the results show that the retail industry enjoyed another extremely good year...

Michael Causton

December 2016 Review of Current Developments in Japan's Economy

"Nikkei CPINow" is a statistical database produced by Nowcast Inc. that provides real-time economic statistics using so-called “big data”...

Nowcast, Inc.

Death Rattle for Defensives?

While it is not a given that a switch from a high growth, high interest rate environment to a low growth, low interest rate environment is a good...

Pelham Smithers Associates

Yaoko Spearheads M&A Rush in Japanese Supermarket Sector

​Blue Zone Holdings (Yaoko), is expanding in by acquiring regional chains, with plans to become a national chain through further M&A, part of a new...

Michael Causton

OK Super: Disrupting Kansai Supermarket Sector

​OK Super's entry into the Kansai market is shaking up local competitors with its deep discounts, posing a threat to existing chains lacking...

Michael Causton

Blue Zone Holdings (Yaoko), is expanding in by acquiring regional chains, with plans to become a national chain through further M&A, part of a new...

OK Super's entry into the Kansai market is shaking up local competitors with its deep discounts, posing a threat to existing chains lacking...