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>Muji continues its impressive growth streak both at home and abroad – sales in March alone rose 33% in Japan.</li>
<li>Muji has grown in part because of its ability to move into new categories, even cosmetics and food, possible because <strong>Muji's biggest asset is how well it is trusted</strong>.</li>
<li>The latest, with significant potential given inbound demand, is Muji Stay which includes its own hotels, rooms in other hotels and inns, as well as house rentals on Airbnb.</li>
</ul>


Muji continues its impressive growth streak both at home and abroad – sales in March alone rose 33% in Japan.
Muji has grown in part because of its ability to move into new categories, even cosmetics and food, possible because Muji's biggest asset is how well it is trusted.
The latest, with significant potential given inbound demand, is Muji Stay which includes its own hotels, rooms in other hotels and inns, as well as house rentals on Airbnb.


<ul>
<li>World may finally have found the key to real growth after years of trying to build a fashion retail business in shopping centres, but with limited success.</li>
<li>The big problem was that it didn’t have the supply chain skills to compete with the big retailers like Uniqlo and Adastria.</li>
<li>Buying the supplier that helped grow those same chains means World now has a real chance to enter the big leagues.</li>
</ul>


World may finally have found the key to real growth after years of trying to build a fashion retail business in shopping centres, but with limited success.
The big problem was that it didn’t have the supply chain skills to compete with the big retailers like Uniqlo and Adastria.
Buying the supplier that helped grow those same chains means World now has a real chance to enter the big leagues.


<ul>
<li>Ryohin Keikaku made a big splash in 2021 when it announced a sales target of ¥3 trillion by 2030, more than a six-fold increase. </li>
<li>Following a reshuffling of management, targets have been slashed but growth rates still remain impressive with a near doubling of sales by 2030.</li>
<li>At home, the push into food is working and at last, overseas markets are getting the attention they deserve. The next Uniqlo?</li>
</ul>


Ryohin Keikaku made a big splash in 2021 when it announced a sales target of ¥3 trillion by 2030, more than a six-fold increase. 
Following a reshuffling of management, targets have been slashed but growth rates still remain impressive with a near doubling of sales by 2030.
At home, the push into food is working and at last, overseas markets are getting the attention they deserve. The next Uniqlo?


Muji Growing Fast but Not to ¥3 Trillion by 2030

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Every year it's the same trade. This year it is Thursday and Friday. There is some funkiness to Monday too.</li>
<li>There is meaningful directional buying on one day, which then kind of gets stretched a bit. This year, circumstances suggest high confidence buying should be at the top end.</li>
<li>This year, because circumstances, I expect the trade is a lot larger than last year. I'd say ¥1.6trln. </li>
</ul>


Every year it's the same trade. This year it is Thursday and Friday. There is some funkiness to Monday too.
There is meaningful directional buying on one day, which then kind of gets stretched a bit. This year, circumstances suggest high confidence buying should be at the top end.
This year, because circumstances, I expect the trade is a lot larger than last year. I'd say ¥1.6trln. 


The Biggish Sep 2024 "Thursday-Friday Trade"

<ul>
<li>Today, the Nikkei Index Committee decided to delete Nippon Paper (3863) for low liquidity, and DIC (4631) for sector over-representation, and added Nomura Research Institute (4307) and Ryohin Keikaku (7453).</li>
<li>The only <em>auto-delete</em> was Nippon Paper. The DIC delete was "discretionary." But they could have done a third. Why did they not do a third change? I do not know.</li>
<li>The whole shebang should be ¥350-375bn a side. At current price, Fast Retailing is set for another capping (selling) event in March 2025. And there is one shoo-in then too.</li>
</ul>


Today, the Nikkei Index Committee decided to delete Nippon Paper (3863) for low liquidity, and DIC (4631) for sector over-representation, and added Nomura Research Institute (4307) and Ryohin Keikaku (7453).
The only auto-delete was Nippon Paper. The DIC delete was "discretionary." But they could have done a third. Why did they not do a third change? I do not know.
The whole shebang should be ¥350-375bn a side. At current price, Fast Retailing is set for another capping (selling) event in March 2025. And there is one shoo-in then too.


Sep24 Nikkei 225 Review Results:  A Slightly Baffling 2 IN, 2 OUT

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)

Trust in Muji Reaps Big Returns

Muji's rapid growth fuelled by trust, allowing it to expand into growing new categories like cosmetics and food, now venturing into inbound...

Michael Causton

World Buys Mitsubishi Clothing Business

World has found the key to growth by acquiring a supplier business owned by Mitsubishi Corp to compete with big retailers like Uniqlo and Adastria.

Michael Causton

Muji Growing Fast but Not to ¥3 Trillion by 2030

Ryohin Keikaku looks set for impressive growth with revised sales targets, focusing on food and expanding into overseas markets.

Michael Causton

The Biggish Sep 2024 "Thursday-Friday Trade"

This year, the September dividend trade is likely quite a bit larger than last year. Last year was likely reduced by de-allocation. Not this year....

Travis Lundy

Sep24 Nikkei 225 Review Results: A Slightly Baffling 2 IN, 2 OUT

The Nikkei 225 Sep24 Review is out. Ryohin Keikaku/NRI in, Nippon Paper/DIC out. Fast Retailing capped. Much as expected. Except why 2 changes, not...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Trust in Muji Reaps Big Returns

​Muji's rapid growth fuelled by trust, allowing it to expand into growing new categories like cosmetics and food, now venturing into inbound...

Michael Causton

World Buys Mitsubishi Clothing Business

​World has found the key to growth by acquiring a supplier business owned by Mitsubishi Corp to compete with big retailers like Uniqlo and Adastria.

Michael Causton

Muji Growing Fast but Not to ¥3 Trillion by 2030

​Ryohin Keikaku looks set for impressive growth with revised sales targets, focusing on food and expanding into overseas markets.

Michael Causton

The Biggish Sep 2024 "Thursday-Friday Trade"

This year, the September dividend trade is likely quite a bit larger than last year. Last year was likely reduced by de-allocation. Not this year....

Travis Lundy

Sep24 Nikkei 225 Review Results: A Slightly Baffling 2 IN, 2 OUT

The Nikkei 225 Sep24 Review is out. Ryohin Keikaku/NRI in, Nippon Paper/DIC out. Fast Retailing capped. Much as expected. Except why 2 changes, not...

Travis Lundy

Muji's rapid growth fuelled by trust, allowing it to expand into growing new categories like cosmetics and food, now venturing into inbound...

World has found the key to growth by acquiring a supplier business owned by Mitsubishi Corp to compete with big retailers like Uniqlo and Adastria.

Ryohin Keikaku looks set for impressive growth with revised sales targets, focusing on food and expanding into overseas markets.