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>As we have been highlighting in recent years, Itochu has benefitted hugely from its assiduous decision to give more attention to its lifestyle brand business.</li>
<li>Itochu just posted record net profit and cited the strength of these consumer-facing businesses.</li>
<li>It is now doubling down, adding more brands and, especially, more stores as it expands its direct exposure to the consumer market.</li>
</ul>


As we have been highlighting in recent years, Itochu has benefitted hugely from its assiduous decision to give more attention to its lifestyle brand business.
Itochu just posted record net profit and cited the strength of these consumer-facing businesses.
It is now doubling down, adding more brands and, especially, more stores as it expands its direct exposure to the consumer market.


Itochu Mining Profit from Brands and Retail – Investing Further

<ul>
<li>United Arrows is best known for building its own chains but has had a choppy few years spent fixing merchandising, supply chains and a poor e-commerce unit.</li>
<li>It now believes it can take a leaf from the playbook of Mash Holdings by signing promising overseas brands as a way to accelerate growth.</li>
<li>The first of these is the Korean brand, Nice Weather, a sort of lifestyle convenience store beloved by Gen Z.</li>
</ul>


United Arrows is best known for building its own chains but has had a choppy few years spent fixing merchandising, supply chains and a poor e-commerce unit.
It now believes it can take a leaf from the playbook of Mash Holdings by signing promising overseas brands as a way to accelerate growth.
The first of these is the Korean brand, Nice Weather, a sort of lifestyle convenience store beloved by Gen Z.


United Arrows Finds New Growth Path Through Korean Brand

<ul>
<li>United Arrows spent a few years in retreat as a succession of problems around e-commerce, Covid and merchandising hit sales.</li>
<li>Instead, competitors like the unlisted retailers, Baycrews and Mash Holdings, took greater share thanks to innovative ideas and new chains mixing fashion, lifestyle and food.</li>
<li>United Arrows now claims the backend fixes are complete and it is starting to expand again, with new chains and target segments, both at home and overseas. Can it succeed?</li>
</ul>


United Arrows spent a few years in retreat as a succession of problems around e-commerce, Covid and merchandising hit sales.
Instead, competitors like the unlisted retailers, Baycrews and Mash Holdings, took greater share thanks to innovative ideas and new chains mixing fashion, lifestyle and food.
United Arrows now claims the backend fixes are complete and it is starting to expand again, with new chains and target segments, both at home and overseas. Can it succeed?


<ul>
<li>The premium fashion market in Japan is growing again and it is not just department stores.</li>
<li>One of the leader is United Arrows, whose main urban chains are on a roll, up double digits, but is being held back by lower priced suburban chains.</li>
<li>It will now focus more  on the premium market through aggressive category expansion, new brands and M&amp;A.</li>
</ul>


The premium fashion market in Japan is growing again and it is not just department stores.
One of the leader is United Arrows, whose main urban chains are on a roll, up double digits, but is being held back by lower priced suburban chains.
It will now focus more  on the premium market through aggressive category expansion, new brands and M&amp;A.


Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zozo-inc" target="_blank" data-smartkarma-citation="entities:18379:1" rel="noopener">ZOZO Inc (3092 JP)</a> is +10% since the close <em>after</em> the Nikkei 225 inclusion announcement vs Nikkei225 +2%. Fellow upweight Nitori is up too. Disco and Socionext are up less.</li>
<li>All three inclusions and one upweight see considerable inclusion demand when compared to active holdings. Some more than others. </li>
<li>Some trades here are more interesting than others, still. Cumulative excess volumes are one guide. Fundamentals, and flow dynamics are another.</li>
</ul>



ZOZO Inc (3092 JP) is +10% since the close after the Nikkei 225 inclusion announcement vs Nikkei225 +2%. Fellow upweight Nitori is up too. Disco and Socionext are up less.
All three inclusions and one upweight see considerable inclusion demand when compared to active holdings. Some more than others. 
Some trades here are more interesting than others, still. Cumulative excess volumes are one guide. Fundamentals, and flow dynamics are another.


Mar24 Nikkei 225 Rebal: Zozo (3092) And Other ADDs Update

Japan

UNITED ARROWS LTD., operates fashion stores, specializing in casual clothing and accessory for men and women.  The Company has stores nationwide.  Main forces are United Arrows, Green Label Relaxing and Chrome Hearts.

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United Arrows (7606 JP)

Itochu Mining Profit from Brands and Retail – Investing Further

Itochu's focus on lifestyle brands pays off with record profits, plans to expand further into consumer market with more brands and stores.

Michael Causton

United Arrows Finds New Growth Path Through Korean Brand

United Arrows is looking to accelerate growth by signing promising overseas brands like Nice Weather, following a period of fixing internal issues...

Michael Causton

United Arrows Rising Again

United Arrows faced setbacks, mostly of its own making, but is now expanding again with new chains and target segments, aiming to regain lost...

Michael Causton

United Arrows: Premium Growth

Japan's premium fashion market is rebounding, with United Arrows leading the way by expanding into new brands and categories, focusing more on the...

Michael Causton

Mar24 Nikkei 225 Rebal: Zozo (3092) And Other ADDs Update

The Mar24 N225 rebal has 5 days to run. So far, 3 of 4 stocks ADDed or UPweighted are up vs N225. DELETEs are down. There is a big funding sell....

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Itochu Mining Profit from Brands and Retail – Investing Further

​Itochu's focus on lifestyle brands pays off with record profits, plans to expand further into consumer market with more brands and stores.

Michael Causton

United Arrows Finds New Growth Path Through Korean Brand

​United Arrows is looking to accelerate growth by signing promising overseas brands like Nice Weather, following a period of fixing internal issues...

Michael Causton

United Arrows Rising Again

​United Arrows faced setbacks, mostly of its own making, but is now expanding again with new chains and target segments, aiming to regain lost...

Michael Causton

United Arrows: Premium Growth

​Japan's premium fashion market is rebounding, with United Arrows leading the way by expanding into new brands and categories, focusing more on the...

Michael Causton

Mar24 Nikkei 225 Rebal: Zozo (3092) And Other ADDs Update

The Mar24 N225 rebal has 5 days to run. So far, 3 of 4 stocks ADDed or UPweighted are up vs N225. DELETEs are down. There is a big funding sell....

Travis Lundy

Itochu's focus on lifestyle brands pays off with record profits, plans to expand further into consumer market with more brands and stores.

United Arrows is looking to accelerate growth by signing promising overseas brands like Nice Weather, following a period of fixing internal issues...

United Arrows faced setbacks, mostly of its own making, but is now expanding again with new chains and target segments, aiming to regain lost...

Japan's premium fashion market is rebounding, with United Arrows leading the way by expanding into new brands and categories, focusing more on the...