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. 

Equity Bottom-Up

<ul>
<li>Competition among the big three e-commerce platforms and the wider sector continues. </li>
<li>All three big firms (Rakuten, Amazon and LY) are leveraging investment in AI, ecosystem capture, and improved customer service to grow market share. </li>
<li>However, last year only Amazon Japan outperformed the sector by a significant margin and has consistently outperformed Rakuten in the past five years too.</li>
</ul>


Competition among the big three e-commerce platforms and the wider sector continues. 
All three big firms (Rakuten, Amazon and LY) are leveraging investment in AI, ecosystem capture, and improved customer service to grow market share. 
However, last year only Amazon Japan outperformed the sector by a significant margin and has consistently outperformed Rakuten in the past five years too.


Rakuten Continues Fight to Hold Share Against Amazon and LY but Amazon Is Ahead

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>A couple of years ago, <a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" data-smartkarma-citation="entities:31:1" rel="noopener">Rakuten (4755 JP)</a> - burning through cash to start its mobile business - announced it would its Bank and Securities units. Bank listed. Securities didn't.</li>
<li>Mizuho ended up buying 49% of Securities. Today, it was announced there would be discussions to put Bank, Securities, Card, and Insurance in a new listed Holdco.</li>
<li>How this works will end up being complicated. More complicated than it should be. But the complexity would make this more of a win-win for everyone. </li>
</ul>


A couple of years ago, Rakuten (4755 JP) - burning through cash to start its mobile business - announced it would its Bank and Securities units. Bank listed. Securities didn't.
Mizuho ended up buying 49% of Securities. Today, it was announced there would be discussions to put Bank, Securities, Card, and Insurance in a new listed Holdco.
How this works will end up being complicated. More complicated than it should be. But the complexity would make this more of a win-win for everyone. 


If Rakuten (4755) Combines Financial Units... Who Wins and How? Well... It's Complicated

<ul>
<li>Rakuten and Yahoo Shopping continued to outperform the e-commerce sector overall in the past six months – Amazon data is due early next year – so market share is rising.</li>
<li>However, a good chunk of recent growth was thanks to a now banned points scheme for tax offsets which led to a surge in sales pre-ban.</li>
<li>This means revenues may now dip again without that incentive but the longer term outlook remains clear: the big malls continue to increase market share in Japanese e-commerce.</li>
</ul>


Rakuten and Yahoo Shopping continued to outperform the e-commerce sector overall in the past six months – Amazon data is due early next year – so market share is rising.
However, a good chunk of recent growth was thanks to a now banned points scheme for tax offsets which led to a surge in sales pre-ban.
This means revenues may now dip again without that incentive but the longer term outlook remains clear: the big malls continue to increase market share in Japanese e-commerce.


Rakuten and Yahoo (And Zozo) Take More Share in Japanese E-Commerce Market

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>May see rebounds for biggest SPE losers over the week - Lasertec -14%, Softy -19%, Rigaku -12% and JX Advanced Metals -16%.</li>
<li>Expect a strong day for the Japanese optical peers, especially Furukawa Electric and Sumitomo Electric Industries.</li>
<li>Japanese telcos may face selling pressure as SpaceX talks with Charter about a consumer mobile offering and Rocket Lab looks to build out its own telecom network.</li>
</ul>


May see rebounds for biggest SPE losers over the week - Lasertec -14%, Softy -19%, Rigaku -12% and JX Advanced Metals -16%.
Expect a strong day for the Japanese optical peers, especially Furukawa Electric and Sumitomo Electric Industries.
Japanese telcos may face selling pressure as SpaceX talks with Charter about a consumer mobile offering and Rocket Lab looks to build out its own telecom network.


Japan Morning Connection: Memory-Exposed SPEs Primed to Rally on South Korean Semi Investment

<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

Japan

Rakuten Group, Inc. provides Internet services. The Company offers Internet finance services which including "Rakuten Card" and "Rakuten Bank". Rakuten Group also provides digital content services including electronic book services.

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Rakuten (4755 JP)

If Rakuten (4755) Combines Financial Units... Who Wins and How? Well... It's Complicated

18mos after Rakuten Bank/Rakuten halted discussions about creating a "Fintech" Group, the discussions are now going to recommence. Since then,...

Travis Lundy

Japan Morning Connection: Memory-Exposed SPEs Primed to Rally on South Korean Semi Investment

Japanese SPEs with memory exposure set for a quarter-end rally. Furukawa and SEI in focus after Corning's breakout. Telcos face headwinds from new...

Andrew Jackson

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Rakuten Continues Fight to Hold Share Against Amazon and LY but Amazon Is Ahead

​Competition in e-commerce sector intensifies as big three firms invest in AI, ecosystem capture, and customer service, with Amazon Japan leading...

Michael Causton

If Rakuten (4755) Combines Financial Units... Who Wins and How? Well... It's Complicated

18mos after Rakuten Bank/Rakuten halted discussions about creating a "Fintech" Group, the discussions are now going to recommence. Since then,...

Travis Lundy

Rakuten and Yahoo (And Zozo) Take More Share in Japanese E-Commerce Market

​Rakuten and Yahoo Shopping lead in growth, but recent surge in sales was partly due to now banned points scheme. Revenues may dip but big malls...

Michael Causton

Japan Morning Connection: Memory-Exposed SPEs Primed to Rally on South Korean Semi Investment

Japanese SPEs with memory exposure set for a quarter-end rally. Furukawa and SEI in focus after Corning's breakout. Telcos face headwinds from new...

Andrew Jackson

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

Competition in e-commerce sector intensifies as big three firms invest in AI, ecosystem capture, and customer service, with Amazon Japan leading...

Rakuten and Yahoo Shopping lead in growth, but recent surge in sales was partly due to now banned points scheme. Revenues may dip but big malls...

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