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. 

Private Capital Markets

Nitori Holdings / Private Capital Markets

<ul>
<li>Iconic retail chain, Tokyu Hands, is to be acquired by Cainz, Japan’s leading home centre retailer. </li>
<li>Tokyu Hands remains as popular as ever thanks to its unique merchandising, but it has struggled to be profitable for a long time.</li>
<li>Cainz should be able to fix this and Hands will be part of Cainz’s plans to become the <a href="https://www.smartkarma.com/entities/workman-co-ltd" target="_blank" data-smartkarma-citation="entities:8467:1" rel="noopener">Workman Co Ltd (7564 JP)</a> of home retailing – bringing competition to Nitori.</li>
</ul>


Iconic retail chain, Tokyu Hands, is to be acquired by Cainz, Japan’s leading home centre retailer. 
Tokyu Hands remains as popular as ever thanks to its unique merchandising, but it has struggled to be profitable for a long time.
Cainz should be able to fix this and Hands will be part of Cainz’s plans to become the Workman Co Ltd (7564 JP) of home retailing – bringing competition to Nitori.


Cainz Takes on Nitori with Tokyu Hands Takeover

Equity Bottom-Up

<ul>
<li>Descente Ltd (8114 JP)  is about the same size as Goldwin but has traditionally depended for half of its sales on South Korea.</li>
<li>
<a href="https://www.smartkarma.com/entities/itochu-corp" target="_blank" data-smartkarma-citation="entities:18448:1" rel="noopener">Itochu Corp (8001 JP)</a> acquired control in a fraught battle with management, in order to reduce this dependence. As a result, Descente managed a return to the black in 1H202.</li>
<li>It has ambitious plans to create a set of brands strong both at home and abroad by copying much of Goldwin’s playbook, particularly its investment in retail and online.</li>
</ul>


Descente Ltd (8114 JP)  is about the same size as Goldwin but has traditionally depended for half of its sales on South Korea.

Itochu Corp (8001 JP) acquired control in a fraught battle with management, in order to reduce this dependence. As a result, Descente managed a return to the black in 1H202.
It has ambitious plans to create a set of brands strong both at home and abroad by copying much of Goldwin’s playbook, particularly its investment in retail and online.


Thematic (Sector/Industry)

<ul>
<li>The last 18 months were the most traumatic for the fashion retail history since WWII. </li>
<li>Average household consumption budgets for apparel fell 18% in 2020 to a monthly average of just ¥10,655, 22% down on five years previously.</li>
<li>The following is an in-depth review of the fashion sector with unique rankings of the top 100, most profitable, fastest growing chains.</li>
</ul>


The last 18 months were the most traumatic for the fashion retail history since WWII. 
Average household consumption budgets for apparel fell 18% in 2020 to a monthly average of just ¥10,655, 22% down on five years previously.
The following is an in-depth review of the fashion sector with unique rankings of the top 100, most profitable, fastest growing chains.


Fashion Retailing 2020-21: Leading Brands Suffer Worst Year in Modern History

<ul>
<li>
<a href="https://www.smartkarma.com/entities/workman-co-ltd" target="_blank" data-smartkarma-citation="entities:8467:1" rel="noopener">Workman Co Ltd (7564 JP)</a> has unveiled another retail banner, this time for the professional tradesperson. </li>
<li>Workman Pro will be used to rebrand existing Workman stores and will also have its own store brands. The new format is part of a push to expand to 1,500 stores.</li>
<li>Although growth has slowed in the past year, Workman continues to mop up market share in outdoor/sports/casual apparel and has plenty of room still left to grow.</li>
</ul>



Workman Co Ltd (7564 JP) has unveiled another retail banner, this time for the professional tradesperson. 
Workman Pro will be used to rebrand existing Workman stores and will also have its own store brands. The new format is part of a push to expand to 1,500 stores.
Although growth has slowed in the past year, Workman continues to mop up market share in outdoor/sports/casual apparel and has plenty of room still left to grow.


The following is an in-depth review of Japanese retail in the last 18 months covering all the main formats and categories, providing a quick way to see an overview of all the key trends and winners and losers in Japanese retailing now and going forward.FY2020 was an anomaly and one that businesses everywhere will want to forget and never repeat. There was more than enough pain among Japan’s top retailers last year, but equally some formats did surprisingly well given the circumstances.For most, work-from-home was the single most important factor in determining a chain’s fortunes. City-centre stores and shopping centres offering mostly discretionary shopping have been hit hard, as have convenience stores.But those chains selling essentials, healthcare, electronics and, most importantly, food, all saw their fortunes improve. The pandemic has also revealed the strong, dynamic players and exposed the weaker ones. Oh, and everyone needs to be online.

The following is an in-depth review of Japanese retail in the last 18 months covering all the main formats and categories, providing a quick way to see an overview of all the key trends and winners and losers in Japanese retailing now and going forward.FY2020 was an anomaly and one that businesses everywhere will want to forget and never repeat. There was more than enough pain among Japan’s top retailers last year, but equally some formats did surprisingly well given the circumstances.For most, work-from-home was the single most important factor in determining a chain’s fortunes. City-centre stores and shopping centres offering mostly discretionary shopping have been hit hard, as have convenience stores.But those chains selling essentials, healthcare, electronics and, most importantly, food, all saw their fortunes improve. The pandemic has also revealed the strong, dynamic players and exposed the weaker ones. Oh, and everyone needs to be online.

The Polarising Pandemic in Japanese Retail

Japan

WORKMAN CO., LTD. designs, produces, and retails work uniforms and related goods including work gloves and safety shoes.  The Company operates its own stores and franchise stores located throughout eastern Japan.

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Workman Co Ltd (7564 JP)

Cainz Takes on Nitori with Tokyu Hands Takeover

Nitori and Muji have pretty much had the interiors market to themselves until now thanks to IKEA's slow rollout but new competition is coming from...

Michael Causton

Descente: The Next Goldwin?

Japan's outdoor/sports market remains one of the few consistent growth categories in consumer markets. Goldwin was the most visible success story...

Michael Causton

Fashion Retailing 2020-21: Leading Brands Suffer Worst Year in Modern History

This insight is an in-depth review of Japan's apparel sector providing key background and comparisons for investors, including rankings of the top...

Michael Causton

Workman (Re)Launches Workman Pro

Workman's share price has collapsed this year but we remain bullish about the retailer's prospects over the long-term given the outstanding growth...

Michael Causton

The Polarising Pandemic in Japanese Retail

A complete review of the Japanese retail sector in the last 18 months, format by format, category by category, providing key trends and winners &...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)