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>As we have been tracking in recent months, the market for rapid home delivery of FMCG and food is hotting up, with much of the action at convenience stores.</li>
<li>The CVS sector was one of the hardest hit by the pandemic but with a network of 56,000 stores, there is an opportunity to use these stores as supply points.</li>
<li>CVS need to engage with delivery services given the growing number of firms creating their own dark store networks which compete with local supermarkets and CVS.</li>
</ul>


As we have been tracking in recent months, the market for rapid home delivery of FMCG and food is hotting up, with much of the action at convenience stores.
The CVS sector was one of the hardest hit by the pandemic but with a network of 56,000 stores, there is an opportunity to use these stores as supply points.
CVS need to engage with delivery services given the growing number of firms creating their own dark store networks which compete with local supermarkets and CVS.


Quick Commerce and Unmanned Stores Challenge Japanese Convenience Retailing

<ul>
<li>Convenience stores are bouncing back after a difficult 18 months, aided by efforts to find new ways to meet demand for home deliveries.</li>
<li>While conbini are ideally placed to do this, their less flexible business model means that competitors like food delivery companies are making the first moves.</li>
<li>These firms are already setting up dark stores for local deliveries and could grow into a new form of competition for convenience stores and local supermarkets.</li>
</ul>


Convenience stores are bouncing back after a difficult 18 months, aided by efforts to find new ways to meet demand for home deliveries.
While conbini are ideally placed to do this, their less flexible business model means that competitors like food delivery companies are making the first moves.
These firms are already setting up dark stores for local deliveries and could grow into a new form of competition for convenience stores and local supermarkets.


Home Delivery Next Evolution for Japan's Conbini Sector?

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Uber agreed a €41.50/share recommended cash offer. Board support, irrevocable commitments and Uber's existing stake materially improve completion prospects despite a lengthy regulatory timetable.</li>
<li>The simultaneous €1.4bn sale of 14 businesses to SSW Partners addresses key competition concerns before formal antitrust review, strengthening the transaction's overall deliverability.</li>
<li>At €38.20, Delivery Hero trades at an 8.6% gross spread, implying an estimated 6-6.5% annualised gross return assuming completion during Q4 2027.</li>
</ul>


Uber agreed a €41.50/share recommended cash offer. Board support, irrevocable commitments and Uber's existing stake materially improve completion prospects despite a lengthy regulatory timetable.
The simultaneous €1.4bn sale of 14 businesses to SSW Partners addresses key competition concerns before formal antitrust review, strengthening the transaction's overall deliverability.
At €38.20, Delivery Hero trades at an 8.6% gross spread, implying an estimated 6-6.5% annualised gross return assuming completion during Q4 2027.


Uber Technologies / Delivery Hero: The Last Mile

Latest News from the World’s Leading Innovators

Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

<h2>Headline Development</h2><p>Hertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go to Uber (UBER) drivers.  On top of this, Hertz will also invest significantly in EV charging infrastructure across its global operations.</p>

Headline DevelopmentHertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go to Uber (UBER) drivers.  On top of this, Hertz will also invest significantly in EV charging infrastructure across its global operations.

<ul>
<li>Delivery Hero has confirmed "advanced negotiations" with Uber, materially reducing execution risk and indicating that discussions have progressed well beyond the preliminary approach disclosed in May.</li>
<li>The company continues to decline comment on valuation, suggesting that consideration remains under negotiation, with shareholder expectations appearing anchored around €40/share and above.</li>
<li>The timing also puts the European Commission's decision to extend Prosus' disposal deadline into better context, although the two events cannot be linked directly.</li>
</ul>


Delivery Hero has confirmed "advanced negotiations" with Uber, materially reducing execution risk and indicating that discussions have progressed well beyond the preliminary approach disclosed in May.
The company continues to decline comment on valuation, suggesting that consideration remains under negotiation, with shareholder expectations appearing anchored around €40/share and above.
The timing also puts the European Commission's decision to extend Prosus' disposal deadline into better context, although the two events cannot be linked directly.


Uber Technologies / Delivery Hero: Negotiations Move Centre Stage

United States

Uber Technologies Inc provides ride hailing services. The Company develops applications for road transportation, navigation, ride sharing, and payment processing solutions. Uber Technologies serves customers worldwide.

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Uber Technologies (UBER US)

Quick Commerce and Unmanned Stores Challenge Japanese Convenience Retailing

As we have been tracking in recent months, the market for rapid home delivery of FMCG and food is hotting up, with much of the action at...

Michael Causton

Home Delivery Next Evolution for Japan's Conbini Sector?

Food delivery is evolving fast in Japan but not just for takeaways. Local delivery of essentials by food delivery firms is becoming a new source of...

Michael Causton

Uber Technologies / Delivery Hero: The Last Mile

Uber has agreed to acquire Delivery Hero for €41.50/share. The price is straightforward; the transaction structure is not. That is where most of...

Jesus Rodriguez Aguilar

Weekly Innovation Review (WIRE) #55

Hertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go...

Granite Bay Capital

Uber Technologies / Delivery Hero: Negotiations Move Centre Stage

Delivery Hero has confirmed advanced negotiations with Uber. The announcement answers one question, but leaves the most important one unresolved.

Jesus Rodriguez Aguilar

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