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 Japan fashion e-commerce sector continues to grow at a pace that outstrips the broader fashion market.</li>
<li>But the gains are increasingly concentrated among a small group of operators that have mastered omnichannel, staff-driven social media, and loyalty marketing and capture</li>
<li>At the same time, smaller, mall-dependent players face mounting pressure and anaemic profits. A full sector review with rankings.</li>
</ul>


The Japan fashion e-commerce sector continues to grow at a pace that outstrips the broader fashion market.
But the gains are increasingly concentrated among a small group of operators that have mastered omnichannel, staff-driven social media, and loyalty marketing and capture
At the same time, smaller, mall-dependent players face mounting pressure and anaemic profits. A full sector review with rankings.


Japan Fashion E-Commerce: Growth but More Divergence

Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

<ul><li>Onward Holdings reported sales of JPY236.8bn (+13.6% YoY) and operating profit of JPY11.6bn (+14.3% YoY).</li><li>The company forecasts sales of JPY247.0bn (+4.3% YoY) and operating profit of JPY12.8bn (+10.3% YoY).</li><li>Mainstay company Onward Kashiyama reported sales of JPY217.9bn (+14.8% YoY) and operating profit of JPY12.7bn (+17.6% YoY).</li></ul>

Onward Holdings reported sales of JPY236.8bn (+13.6% YoY) and operating profit of JPY11.6bn (+14.3% YoY).The company forecasts sales of JPY247.0bn (+4.3% YoY) and operating profit of JPY12.8bn (+10.3% YoY).Mainstay company Onward Kashiyama reported sales of JPY217.9bn (+14.8% YoY) and operating profit of JPY12.7bn (+17.6% YoY).

Onward Holdings (8016 JP): Full-year FY02/26 flash update

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Small cap Japanese manufacturer and purveyor of apparel <a href="https://www.smartkarma.com/entities/daidoh-ltd" target="_blank" data-smartkarma-citation="entities:18256:1" rel="noopener">Daidoh Ltd (3205 JP)</a> has consistently been a target for value investors. In late 2022, Strategic Capital went over 5%.</li>
<li>They have bought more, and as of end-March, they declared 24.85% of TSO (28% of voting rights), but they have 33%. They made proposals for the AGM. They won one. </li>
<li>Now Murakami-san has bought in, going over 5%. This gets interesting. Together they have 39.4% as of last week, and probably more now. That should get them 50+% next AGM/EGM.</li>
</ul>


Small cap Japanese manufacturer and purveyor of apparel Daidoh Ltd (3205 JP) has consistently been a target for value investors. In late 2022, Strategic Capital went over 5%.
They have bought more, and as of end-March, they declared 24.85% of TSO (28% of voting rights), but they have 33%. They made proposals for the AGM. They won one. 
Now Murakami-san has bought in, going over 5%. This gets interesting. Together they have 39.4% as of last week, and probably more now. That should get them 50+% next AGM/EGM.


JAPAN ACTIVISM: Strategic Capital Target Daido (3205) Now A Murakami Target Too

<ul><li>Sales increased by 16.5% YoY to JPY174.7bn, driven by strong winter apparel sales and strategic brand growth. </li><li>Operating profit rose 11.3% YoY to JPY9.5bn, with a flat gross profit margin and slight SG&A ratio increase. </li><li>Overseas Business sales increased, narrowing operating loss, with notable growth in Europe and Asia despite US decline. </li></ul>

Sales increased by 16.5% YoY to JPY174.7bn, driven by strong winter apparel sales and strategic brand growth. Operating profit rose 11.3% YoY to JPY9.5bn, with a flat gross profit margin and slight SG&A ratio increase. Overseas Business sales increased, narrowing operating loss, with notable growth in Europe and Asia despite US decline. 

Onward Holdings (8016 JP): Q3 FY02/26 flash update

<ul>
<li>Onward has quietly but radically transformed its business from wholesale to omnichannel retail.</li>
<li>Even more remarkably for a company whose average customer age was until very recently over 50, its latest brands now appeal to teens and 20s.</li>
<li>The new brands exemplify how much this previously staid wholesaler has changed.</li>
</ul>


Onward has quietly but radically transformed its business from wholesale to omnichannel retail.
Even more remarkably for a company whose average customer age was until very recently over 50, its latest brands now appeal to teens and 20s.
The new brands exemplify how much this previously staid wholesaler has changed.


Onward’s Radical Transformation from Stolid to Trend Leader

Japan

ONWARD HOLDINGS CO., LTD. manufactures men's ready-made suits, women's, and children's wear.  The Company has its own brands, Onward and KUMIKYOKU. Onward also manufactures sports goods, books, stationery, cosmetics, art decoration.

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

Onward Holdings (8016 JP)

Japan Fashion E-Commerce: Growth but More Divergence

Japan's fashion e-commerce sector is booming, but success is concentrated among a few operators utilizing omnichannel strategies, while smaller...

Michael Causton