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>Consumers have long believed that inflation is about to return – an idea promoted by Abenomics since 2012 despite a stubborn lack of actual progress.</li>
<li>Now, analysts think real inflation might be just around the corner and consumers’ fears could suddenly be justified. </li>
<li>Retailers have begun to announce a series of price cuts, recognising consumers’ worries about prices and looking to reassure and gain market share at the same time.</li>
</ul>


Consumers have long believed that inflation is about to return – an idea promoted by Abenomics since 2012 despite a stubborn lack of actual progress.
Now, analysts think real inflation might be just around the corner and consumers’ fears could suddenly be justified. 
Retailers have begun to announce a series of price cuts, recognising consumers’ worries about prices and looking to reassure and gain market share at the same time.


Nitori and Muji: Cutting Prices as Inflation Nears

Equity Analyst, LightStream Research

Oshadhi Kumarasiri

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.

Equity Bottom-Up

<ul>
<li>Considering the geopolitical relationship over the last 100 years, it doesn’t take much for Chinese people to start developing an anti-Japan sentiment.</li>
<li>The relationship between the two countries was already reaching nervy levels, before Tokyo’s decision to snub the 2022 Winter Olympics.</li>
<li>We think the Japanese government’s decision to not send a government delegation to the Winter Olympics could be all that is needed to spark an anti-Japan sentiment among Chinese consumers.</li>
</ul>


Considering the geopolitical relationship over the last 100 years, it doesn’t take much for Chinese people to start developing an anti-Japan sentiment.
The relationship between the two countries was already reaching nervy levels, before Tokyo’s decision to snub the 2022 Winter Olympics.
We think the Japanese government’s decision to not send a government delegation to the Winter Olympics could be all that is needed to spark an anti-Japan sentiment among Chinese consumers.


Japan’s Boycott of Winter Olympics Could Be the Tipping Point

PAL GROUP Holdings Co., Ltd. / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pal-group-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:2633:1" rel="noopener">PAL GROUP Holdings Co., Ltd. (2726 JP)</a> is mostly a fashion retailer but two decades ago created a new discount variety chain called 3Coins. </li>
<li>3Coins has been one of the best performing retailers during the pandemic, building up a loyal following thanks to its diverse range of popular products.</li>
<li>Sales tripled in the decade to last year but look set to increase a further 25% this year alone.</li>
</ul>



PAL GROUP Holdings Co., Ltd. (2726 JP) is mostly a fashion retailer but two decades ago created a new discount variety chain called 3Coins. 
3Coins has been one of the best performing retailers during the pandemic, building up a loyal following thanks to its diverse range of popular products.
Sales tripled in the decade to last year but look set to increase a further 25% this year alone.


3Coins Proves a Hit in Pandemic and Moves into Food

<ul>
<li>A host of Japanese apparel brands are starting to reject cotton produced in the Xinjiang region.</li>
<li>Even though Fast Retailing is unlikely to stake a strong stand against the Xinjiang cotton controversy, actions by other Japanese brands could still affect Uniqlo in the Chinese market.</li>
<li>The Uniqlo brand resonates with Japan and a boycott of Japanese brands in China could have severe consequences to Uniqlo’s Chinese business.</li>
</ul>


A host of Japanese apparel brands are starting to reject cotton produced in the Xinjiang region.
Even though Fast Retailing is unlikely to stake a strong stand against the Xinjiang cotton controversy, actions by other Japanese brands could still affect Uniqlo in the Chinese market.
The Uniqlo brand resonates with Japan and a boycott of Japanese brands in China could have severe consequences to Uniqlo’s Chinese business.


China’s Boycott of Western Brands Could Extend to Japanese Brands Amidst Xinjiang Cotton Controversy

Convenience store (CVS) retailing remains the most dynamic and innovative physical store sector. It is now 50 years since the first Seven Eleven opened and the sector wide drop in sales in 2020 was the first in its history.Whereas department stores also took a battering last year and are likely to struggle to recover, convenience stores should bounce back quickly, including implementing lessons learned in last year’s crisis.That does not mean the format faces no problems, with labour shortages, overly strict operating procedures and an ageing population of store owners (many are now reaching retirement age with no succession in place) all issues that need solutions, but its willingness and ability to adopt new technologies and adapt to the market will continue to keep CVS strong.The following is an annual in-depth review of the entire CVS sector providing context for investors in any of the big CVS retailers (and their competing formats) as well as reviews of each major firm's KPIs.

Convenience store (CVS) retailing remains the most dynamic and innovative physical store sector. It is now 50 years since the first Seven Eleven opened and the sector wide drop in sales in 2020 was the first in its history.Whereas department stores also took a battering last year and are likely to struggle to recover, convenience stores should bounce back quickly, including implementing lessons learned in last year’s crisis.That does not mean the format faces no problems, with labour shortages, overly strict operating procedures and an ageing population of store owners (many are now reaching retirement age with no succession in place) all issues that need solutions, but its willingness and ability to adopt new technologies and adapt to the market will continue to keep CVS strong.The following is an annual in-depth review of the entire CVS sector providing context for investors in any of the big CVS retailers (and their competing formats) as well as reviews of each major firm's KPIs.

Convenience Stores: First Decline in 50 Years

Japan

RYOHIN KEIKAKU CO., LTD. is a retailer and wholesaler of Mujirushi Ryohin brand products, which were originally a generic private-brand product.  The Company's product line includes knitwear, food, and household items

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Ryohin Keikaku (7453 JP)

Nitori and Muji: Cutting Prices as Inflation Nears

Japanese non-FMCG retailers are facing pressure to cut prices as consumers, under pressure from rising prices of basics like food. In home...

Michael Causton

Japan’s Boycott of Winter Olympics Could Be the Tipping Point

The relationship between the two countries was already reaching nervy levels, before Tokyo’s decision to snub the 2022 Winter Olympics. With the...

Oshadhi Kumarasiri

3Coins Proves a Hit in Pandemic and Moves into Food

Discount retail is booming in Japan and one of the winners is 3Coins, operated by fashion firm, Pal Group. While Pal suffers negatively from the...

Michael Causton

China’s Boycott of Western Brands Could Extend to Japanese Brands Amidst Xinjiang Cotton Controversy

A host of new Japanese apparel makers including Sanyo Shokai and TSI have recently become a part of a growing list of international companies to...

Oshadhi Kumarasiri

Convenience Stores: First Decline in 50 Years

For any investor in Japan's consumer staples sector, the convenience store sector is a key component. The following is an in-depth analysis of the...

Michael Causton

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