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. 

Event-Driven

It is almost a year since <a href="https://www.smartkarma.com/entities/yamada-denki-co-ltd" target="_blank" data-smartkarma-citation="entities:641:1" rel="noopener">Yamada Denki (9831 JP)</a> stepped in to save <a href="https://www.smartkarma.com/entities/otsuka-kagu-ltd" target="_blank" data-smartkarma-citation="entities:5139:1" rel="noopener">Otsuka Kagu Ltd (8186 JP)</a> from a choice of bankruptcy or acquisition by a major furniture rival. Yamada has made some improvement, but things have not gone nearly as well as hoped.As a result, Kumiko Otsuka will step down as CEO this month, ending the founding family’s direct involvement with the chain, and Yamada will probably delist the company and make it a wholly owned subsidiary.Then the real work begins as Otsuka will need an entirely new competitive position if it is to survive but should help Yamada take on <a href="https://www.smartkarma.com/entities/nitori-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20386:1" rel="noopener">Nitori Holdings (9843 JP)</a> in the core furniture market.

It is almost a year since Yamada Denki (9831 JP) stepped in to save Otsuka Kagu Ltd (8186 JP) from a choice of bankruptcy or acquisition by a major furniture rival. Yamada has made some improvement, but things have not gone nearly as well as hoped.As a result, Kumiko Otsuka will step down as CEO this month, ending the founding family’s direct involvement with the chain, and Yamada will probably delist the company and make it a wholly owned subsidiary.Then the real work begins as Otsuka will need an entirely new competitive position if it is to survive but should help Yamada take on Nitori Holdings (9843 JP) in the core furniture market.

Otsuka Kagu to Be Absorbed by Yamada Denki as Family CEO Departs

Equity Bottom-Up

Nitori may have achieved 33 years of consecutive growth but the interiors retailer is worried about saturation in the home market and its attempts to make a big push overseas have stalled. To keep the engine running, Nitori has begun diversifying into consumer electronics, cosmetics and apparel.

Nitori may have achieved 33 years of consecutive growth but the interiors retailer is worried about saturation in the home market and its attempts to make a big push overseas have stalled. To keep the engine running, Nitori has begun diversifying into consumer electronics, cosmetics and apparel.

Nitori: Expanding Through Diversification into New Categories

<a href="https://www.smartkarma.com/entities/yamada-denki-co-ltd" target="_blank" data-smartkarma-citation="entities:641:1" rel="noopener">Yamada Denki (9831 JP)</a>  is the largest consumer electronics retailer, not the best sector to be in right now, while <a href="https://www.smartkarma.com/entities/otsuka-kagu-ltd" target="_blank" data-smartkarma-citation="entities:5139:1" rel="noopener">Otsuka Kagu Ltd (8186 JP)</a> increasing looks like a has-been furniture chain.Yamada has now acquired a major stake in Otsuka. While it claims it plans to protect Otsuka’s premium positioning for the time being, the move is really about aiding further diversification, in particular, development of Yamada’s new lifestyle formats like Smile Kan which is attempting to compete with Nitori in furniture and household goods.

Yamada Denki (9831 JP)  is the largest consumer electronics retailer, not the best sector to be in right now, while Otsuka Kagu Ltd (8186 JP) increasing looks like a has-been furniture chain.Yamada has now acquired a major stake in Otsuka. While it claims it plans to protect Otsuka’s premium positioning for the time being, the move is really about aiding further diversification, in particular, development of Yamada’s new lifestyle formats like Smile Kan which is attempting to compete with Nitori in furniture and household goods.

Yamada Denki's Acquisition of Otsuka Kagu Won't Save Otsuka but Will Help Yamada Go After Nitori

Equity Analyst, LightStream Research

Chacko Jacob

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

As far as the history of Japanese department stores goes, <a href="https://www.smartkarma.com/entities/370" target="_blank" data-smartkarma-citation="entities:370:1">Takashimaya (8233 JP)</a> is one of the newer stores in the country despite being founded nearly 190 years ago. Even in terms of market cap, the company is only the fourth largest among domestic department stores. However, the company is now plotting a new course to increase sales and traffic. In this report, we will analyse the company’s medium and long-term plans to grow revenue while also weighing its performance against that of industry peers.

As far as the history of Japanese department stores goes, Takashimaya (8233 JP) is one of the newer stores in the country despite being founded nearly 190 years ago. Even in terms of market cap, the company is only the fourth largest among domestic department stores. However, the company is now plotting a new course to increase sales and traffic. In this report, we will analyse the company’s medium and long-term plans to grow revenue while also weighing its performance against that of industry peers. 

Takashimaya(8233): ASEAN Projects and Inbound Sales Offer Positive Long-Term Growth Outlook

A potential new growth business for Japan’s biggest consumer electronics retailerIt has been just six months since <a href="https://www.smartkarma.com/entities/641" target="_blank" data-smartkarma-citation="entities:641:1">Yamada Denki Co Ltd (9831 JP)</a> started converting existing consumer electronics stores to include home furnishing and interior retailing, but it already has 17 such stores. Last month it introduced private branded furniture and interior goods targeted at single person households. It is aiming to take a significant share of the booming home interiors market, a market currently…

A potential new growth business for Japan’s biggest consumer electronics retailerIt has been just six months since Yamada Denki Co Ltd (9831 JP) started converting existing consumer electronics stores to include home furnishing and interior retailing, but it already has 17 such stores. Last month it introduced private branded furniture and interior goods targeted at single person households. It is aiming to take a significant share of the booming home interiors market, a market currently…

Yamada Denki: Selling Sofas with Consumer Electronics Is Much More Promising than It Might Seem

Japan

OTSUKA KAGU. LTD. retails furniture and interior decor nationwide. The main showrooms are located in Tokyo and Osaka. The Company sells living room furniture, Japanese furniture, dining furniture, carpets and curtains, bedding, electric appliance and others. OTSUKA KAGU also operates in real estate rental and leasing.

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Otsuka Kagu Ltd (8186 JP)

Otsuka Kagu to Be Absorbed by Yamada Denki as Family CEO Departs

It makes sense that Yamada Denki is taking control of furniture retailer. Yamada is building a rival to Nitori and Otsuka will help with that. The...

Michael Causton

Nitori: Expanding Through Diversification into New Categories

Nitori may have achieved 33 years of consecutive growth but the interiors retailer is worried about saturation in the home market and its attempts...

Michael Causton

Yamada Denki's Acquisition of Otsuka Kagu Won't Save Otsuka but Will Help Yamada Go After Nitori

Yamada Denki (9831 JP) is the largest consumer electronics retailer, not the best sector to be in right now, while Otsuka Kagu Ltd (8186...

Michael Causton

Takashimaya(8233): ASEAN Projects and Inbound Sales Offer Positive Long-Term Growth Outlook

As far as the history of Japanese department stores goes, Takashimaya (8233 JP) is one of the newer stores in the country despite being founded...

Chacko Jacob

Yamada Denki: Selling Sofas with Consumer Electronics Is Much More Promising than It Might Seem

A potential new growth business for Japan’s biggest consumer electronics retailerIt has been just six months since Yamada Denki Co Ltd (9831...

Michael Causton

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