DOCSLIB.ORG

Including Style Guide and Master Layouts

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

MARKETVIEW Japan Retail, Q4 2014 Demand remains robust in key markets +0.2% y-o-y Dec. 38.8 Dec. (+1.1 m-o-m) JPY 350,000 JPY 200,000 JPY 120,000 Amount Amount Amount Source: *Ministry of Economy, Trade and Industry, **Cabinet Office, ***CBRE estimate (inc. CAM) Figure 1: Retail Sales (Y-o-Y) Same store basis ( % ) 10 This Sidebar is for Quick Stats, Hot Topics or Executive summary. It has its own styles which are built into the 5 Master. 0 Level 1 – Body Text • Level 2 – Bullet (5) LEVEL 3 – HEADING The Heading box above has built in space below. Use (10) 2008 06 2008 12 2009 06 2009 12 2010 06 2010 12 2011 06 2011 12 2012 06 2012 12 2013 06 2013 12 2014 06 2014 12 to align these text boxes. The divider line can then be 2007 12 pasted in place and snapped to this point. Source: Datastream, Ministry of Economy, Trade and Industry, Q4 2014. A tinted panel needs to be placed behind this text box Figure 2: Department Store Sales (Y-o-Y) Same store basis ( % ) and adjusted in height to suit text depth. The panel is 30 the default style when you insert a rectangle. 25 20 Elements that can be pasted in place, such as the 15 statistics panel above, are provided on slide 3. 10 5 0 (5) (10) (15) (20) 2008 06 2008 12 2009 06 2009 12 2010 06 2010 12 2011 06 2011 12 2012 06 2012 12 2013 06 2013 12 2014 06 2014 12 2007 12 Source: Datastream, Japan Department Store Association, Q4 2014. Figure 3: Consumer Confidence Index vs Consumer Price Index (excludes fresh food) CCI (LHS) CPI (Core, RHS) 50 5 45 4 40 3 35 2 30 1 25 0 20 -1 15 -2 10 -3 5 -4 0 -5 2007 12 2008 06 2008 12 2009 06 2009 12 2010 06 2010 12 2011 06 2011 12 2012 06 2012 12 2013 06 2013 12 2014 06 2014 12 Source: Datastream, Cabinet Office, Statistics Bureau, Q4 2014. Q4 2014 CBRE Research © 2015 CBRE, Inc. | 1 MARKETVIEW JAPAN RETAIL GINZA THE STREET LINKING TWO LARGE NEW DEVELOPMENTS ATTRACTING INTEREST OMOTESANDO LUXURY BRANDS MOVING TO BETTER LOCATIONS OR LARGER STORES SEEING FIRM DEMAND, AS A TRENDSETTING RETAIL DESTINATION Q4 2014 CBRE Research © 2015 CBRE, Inc. | 2 MARKETVIEW JAPAN RETAIL SHINJUKU SHIBUYA WITH SHORTAGE OF SPACE, DEMAND LITTLE SPACE AVAILABLE EVEN IN AREAS FOCUSES ON NEW DEVELOPMENTS FURTHER FROM SHIBUYA STATION BECOMING A POPULAR AREA FOR SECOND-HAND RETAILERS INCREASING DEMAND FROM LUXURY BRANDS Q4 2014 CBRE Research © 2015 CBRE, Inc. | 3 MARKETVIEW JAPAN RETAIL Figure 4: Location of New Store Openings Figure 5: Sector of New Store Openings SHIBUYA SERVICE 13% GINZA 10% 26% SHINJUKU RETAIL Q4 2014 F&B Q4 2014 26% 53% 37% OMOTESANDO 35% Source: CBRE Research, company press releases and media reports Source: CBRE , Q4 2014. Note: Compiled from select sectors and locations, Q4 2014. TOKYO OUTLOOK TOKYO PRIME RENTS FLAT Q-O-Q Q4 2014 CBRE Research © 2015 CBRE, Inc. | 4 MARKETVIEW JAPAN RETAIL Figure 6: New Store Openings Q4 2014 Size Tenant Area Building Name (approx tsubo) ISHIKAWA HYAKUMANGOKU MONOGATARI EDO HONTEN GINZA 101 TH GINZA BUILDING GINZA NAGANO SHIAWASE SHINSYU SHARE SPACE GINZA N/A N/A hartmann GINZA 39 KIRARITO GINZA Eggs'n Things GINZA 80 KIRARITO GINZA ORE NO ITALIAN TOKYO GINZA 88 KIRARITO GINZA ORE NO FRENCE TOKYO GINZA 104 KIRARITO GINZA VACHERON CONSTANTIN GINZA 42 N/A Dior PERFUME & BEAUTY OMOTESAND / HARAJUKU 27 OMOTESANDO HILLS atmos OMOTESAND / HARAJUKU N/A N/A massimo alba OMOTESAND / HARAJUKU N/A ESPACE OMOTESANDO Sretsis Inn OMOTESAND / HARAJUKU N/A N/A SCRAPBOOK (JEANASIS) OMOTESAND / HARAJUKU 91 N/A Monsarrat Brunch Club OMOTESAND / HARAJUKU N/A N/A JEROME DREYFUSS OMOTESAND / HARAJUKU 27 FROM FAST niko and... OMOTESAND / HARAJUKU 291 N/A COS OMOTESAND / HARAJUKU 94 N/A john masters organics OMOTESAND / HARAJUKU N/A IL PALAZZINO OMOTESANDO LINE FRIENDS STORE OMOTESAND / HARAJUKU 47 N/A Tiffany SHINJUKU 100 SHINJUKU TAKANO No.2 BUILDING COACH SHINJUKU N/A SHINJUKU NAKAMURAYA BUILDING au SHINJUKU SHINJUKU 303 Hulic Shinjuku Building KINOKUNIYA SHOTEN SHIBUYA 170 SEIBU SHIBUYA PARKING KAN OLD JOE SHIBUYA N/A SHIBUYA YT BUILDING 02 JUMBLE STORE SHIBUYA 95 FRAME JINNAN-ZAKA atmos SHIBUYA N/A N/A Source: CBRE Research, company press releases and media reports, Q4 2014. Figure 7: Upcoming Retail Developments, Tokyo (GFA of 1,000 tsubo or more) Size Name Area Developer Open (approx tsubo) (Tentative) Ginza 5-Chome Project GINZA 15,035 Tokyu Land Fall 2015 Ginza 6-Chome Area Urban Reconstruction Project GINZA 44,740 Redevelopment Consortium Nov. 2016 (Tentative) Sapporo Ginza Building Reconstruction Project GINZA 2,140 Sapporo Real Estate Co., Ltd. Summer 2016 OMOTESAND / (Tentative) Jingumae 6-Chome Project 2,500 Tokyu Land Spring 2015 HARAJUKU OMOTESAND / Omotesando Project 3,025 Yodobashi Camera 2015 HARAJUKU Shinjuku Toho Building Development Project SHINJUKU 16,760 Toho 2015 (Tentative) Shinjuku Station New South exit Building SHINJUKU 33,580 East Japan Railway Company Spring 2016 Shibuya Station South Block Project SHIBUYA 35,545 Tokyu Corporation 2017 Shibuya Station Area Dogenzaka Block Development Project SHIBUYA 17,850 Dogenzaka 1-Chome Redevelopment Consortium 2018 Source: CBRE Research, company press releases and media report, Q4 2014 *Floor area may contain non-retail spaces. Q4 2014 CBRE Research © 2015 CBRE, Inc. | 5 MARKETVIEW JAPAN RETAIL SHINSAIBASHI SEVERAL MAJOR STORE OPENINGS UMEDA TENANTS REMAIN ACTIVE NOTICABLE INCREASE IN FOREIGN TOURISTS Q4 2014 CBRE Research © 2015 CBRE, Inc. | 6 MARKETVIEW JAPAN RETAIL LUCUA 1100 TO OPEN IN SPRING OSAKA OUTLOOK PRIME OSAKA RENTS IN Q4 AT JPY200,000/TSUBO (INCLUDING CAM) Q4 2014 CBRE Research © 2015 CBRE, Inc. | 7 MARKETVIEW JAPAN RETAIL SAKAE THE CHANGING FACE OF THE NAGOYA RETAIL MARKET POPULAR RETAILERS OPEN STORES NAGOYA OUTLOOK PRIME NAGOYA RENTS IN Q4 JPY120,000/TSUBO (INCLUDING CAM) Q4 2014 CBRE Research © 2015 CBRE, Inc. | 8 MARKETVIEW JAPAN RETAIL Figure 8: Key Osaka/Nagoya Store Openings Q4 2014 Size Tenant Area Building Name (approx tsubo) HUGO BOSS SHINSAIBASHI 151 Shinsaibashi Square TSUTAYA (Refurbishing) SHINSAIBASHI 715 N/A Stradivarius SHINSAIBASHI 420 TESTA Shinsaibashi Yofuku no Aoyama SHINSAIBASHI N/A ZAI Shinsaibashi Building UNIQLO UMEDA 890 YANMAR Flying-Y Building GU UMEDA 260 YANMAR Flying-Y Building Tiffany & Co (Refurbishing) UMEDA 200 Herbis PLAZA ENT SATURDAYS SURF NYC SAKAE 43 PROTECT4 Don Quijote SAKAE 673 SAKAE NANAIRO FOREVER21 SAKAE 400 NAGOYA ZERO GATE Stradivarius SAKAE 170 NAGOYA ZERO GATE SENSE OF PLACE SAKAE 340 NAGOYA ZERO GATE American Eagle Outfitters SAKAE 230 NAGOYA ZERO GATE SUPER SPORTS XEBIO SAKAE 560 NAGOYA ZERO GATE UNDER ARMOUR CLUBHOUSE SAKAE 212 N/A Source: CBRE Research, company press releases and media reports, Q4 2014. Q4 2014 CBRE Research © 2015 CBRE, Inc. | 9 MARKETVIEW JAPAN RETAIL OUTBOUND FIRST OVERSEAS BRANCH OF TOKYU CORP'S SHIBUYA 109 TO OPEN IN HONG KONG RESTAURANT CHAINS SET UP AND EXPAND OVERSEAS RYOHIN KEIKAKU OPENS WORLD'S LARGEST MUJI STORE IN CHENGDU Figure 9: Outbound Japanese Retailers Size Retailer Sector Tenant / Brand Destination (Estimate tsubo) BEAMS Holdings Retail BEAMS Taiwan N/A JFR PLAZA (Affiliate company of J. Front Retailing) Retail PLAZA TOKYO Taiwan 37 Kura Corporation F&B Kura Sushi Taiwan N/A SIAM AUTOBACS Co., Ltd.(Affiliate company of AUTOBACKS) Retail AUTOBACS Thailand 12 Misokatsu Yabaton F&B Misokatsu Yabaton Thailand N/A Takashimaya Department Store (Tentative) Siam Takashimaya Thailand 10,890 SY Food F&B Sekai No Yama-Chan Thailand N/A MUJI Shanghai Retail (Affiliate company of Ryohin Keikaku) Retail MUJI China 950 JR Kyushu Food Service F&B UMAYA NO MEN MEN MEN China 11 AEON MALL SC AEON MALL China 22,385 Ringer Hut F&B Ringer Hut Hong Kong 50 Tokyu Malls Development SC SHIBUYA109 Hong Kong 250 Chikara No Moto Company F&B IPPUDO LONDON UK N/A Smiles F&B Soup Stock Tokyo Singapore N/A UNIQLO Retail UNIQLO Belgium N/A Pepper Food Service F&B Pepper Lunch Canada N/A Source: CBRE Research, company press releases and media reports, Q4 2014. Q4 2014 CBRE Research © 2015 CBRE, Inc. | 10 MARKETVIEW JAPAN RETAIL CAPITAL MARKETS TOKYO THREE DEALS IN OMOTESANDO AREA NOMURA REAL ESTATE MASTER FUND BUYS MULTI-USE COMPLEX BY UNIVERSAL STUDIOS FOR JPY15.5BN. NAGOYA JRF BUYS G-BUILDING NAGOYA SAKAE 01 OSAKA FRONTIER BUYS SHINSAIBASHI SQUARE Q4 2014 CBRE Research © 2015 CBRE, Inc. | 11 MARKETVIEW JAPAN RETAIL Figure 10: Prime Yield (Ginza, Tokyo) Q4 2014* Figure 11: Prime Yield (Shinsaibashi, Osaka) Q4 2014* 5 6 4 5 3 4 2 3 Q12010 Q22010 Q32010 Q42010 Q12011 Q22011 Q32011 Q42011 Q12012 Q22012 Q32012 Q42012 Q12013 Q22013 Q32013 Q42013 Q12014 Q22014 Q32014 Q42014 Q22010 Q32010 Q42010 Q12011 Q22011 Q32011 Q42011 Q12012 Q22012 Q32012 Q42012 Q12013 Q22013 Q32013 Q42013 Q12014 Q22014 Q32014 Q42014 Q12010 Source: CBRE, Q4 2014. Source: CBRE, Q4 2014. *CBRE estimated yield based on market transactions. Figure 12: Major Investment Transactions (Q4 2014) Price* Building Name Buyer Seller Tenant Cap Rate* (JPY Mil) SEKISUI HOUSE/ SPRING b-town Jingumae II N/A X-girl store 1,200 4.6 INVESTMENT G Building Jingumae 04 Broadia Private REIT GK Nijubashi Investment BEAUTRIUM N/A N/A G Building Jingumae 05 Broadia Private REIT GK Nijubashi Investment DIESEL N/A N/A Palk Omotesando Marimo Izumi Shoji N/A N/A N/A Ichigo Kamata Building ICHIGO REIT Domestic TMK YUZAWAYA 1,400 5.2 Kawasaki Mores Nomura Real Estate Master Fund. Domestic GK BOOK OFF SUPER BAZAAR 2,080 6.4 Ichigo Shin-Yokohama Arena Dori Building ICHIGO REIT Ichigo Group Holdings Major F&B chain company 1,700 5.7 Park City MusashiKosugi Praza Jowa Holdings Company Shirotae Kosugi GK DFS Group 10,800 N/A Market Square Sagamihara Activia Properties Tokyu Land K’S Denki 4,800 5.6 G Building Nagoya Sakae 01 Japan Retail Fund Investment Corporation NK Planning UNDER ARMOUR 1,900 4.6 Frontier Real Estate Investment Shinsaibashi Square Mitsui Fudosan HUGO BOSS 8,600 4.0 Corporation SPC (Capitalized by Elliott Universal City Walk Osaka (Partial) Nomura Real Estate Master Fund Hard Rock Cafe 15,500 5.9 Management) Source: CBRE Research, company press releases and media reports, Q4 2014.
Recommended publications
  • 4.1 Potential Facilities List FY 17-18

    4.1 Potential Facilities List FY 17-18

    FY 2017-2018 Annual Report Permittee Name: City of San José Appendix 4.1 FAC # SIC Code Facility Name St Num Dir St Name St Type St Sub Type St Sub Num 820 7513 Ryder Truck Rental A 2481 O'Toole Ave 825 3471 Du All Anodizing Company A 730 Chestnut St 831 2835 BD Biosciences A 2350 Qume Dr 840 4111 Santa Clara Valley Transportation Authority Chaboya Division A 2240 S 7th St 841 5093 Santa Clara Valley Transportation Authority - Cerone Division A 3990 Zanker Rd 849 5531 B & A Friction Materials, Inc. A 1164 Old Bayshore Hwy 853 3674 Universal Semiconductor A 1925 Zanker Rd 871 5511 Mercedes- Benz of Stevens Creek A 4500 Stevens Creek Blvd 877 7542 A.J. Auto Detailing, Inc. A 702 Coleman Ave 912 2038 Eggo Company A 475 Eggo Way 914 3672 Sanmina Corp Plant I A 2101 O'Toole Ave 924 2084 J. Lohr Winery A 1000 Lenzen Ave 926 3471 Applied Anodize, Inc. A 622 Charcot Ave Suite 933 3471 University Plating A 650 University Ave 945 3679 M-Pulse Microwave, Inc. A 576 Charcot Ave 959 3672 Sanmina Corp Plant II A 2068 Bering Dr 972 7549 San Jose Auto Steam Cleaning A 32 Stockton Ave 977 2819 Hill Bros. Chemical Co. A 410 Charcot Ave 991 3471 Quality Plating, Inc. A 1680 Almaden Expy Suite 1029 4231 Specialty Truck Parts Inc. A 1605 Industrial Ave 1044 2082 Gordon Biersch Brewing Company, Inc. A 357 E Taylor St 1065 2013 Mohawk Packing, Div. of John Morrell A 1660 Old Bayshore Hwy 1067 5093 GreenWaste Recovery, Inc.
  • Ohsho Food Service Junichi Shimizu Chief Analyst, Head of Research TSE 1St Section 9936 Industry: Food Service, Retail Gold Medalist in Chinese Cuisine

    Ohsho Food Service Junichi Shimizu Chief Analyst, Head of Research TSE 1St Section 9936 Industry: Food Service, Retail Gold Medalist in Chinese Cuisine

    MITA SECURITIES Equity Research June 22, 2021 MITA SECURITIES Co., Ltd. Ohsho Food Service Junichi Shimizu Chief Analyst, Head of Research TSE 1st Section 9936 Industry: Food service, retail Gold medalist in Chinese cuisine. Enjoy Initiation of coverage dumplings in store or at home; initiating coverage with a Buy rating Rating Initiating coverage with a TP of 7,250 yen and a Buy rating We initiate coverage of Ohsho Food Service Corporation (9936, Ohsho Food Service, the Buy company) with a target price of 7,250 yen and a Buy rating. Target price (JPY) 7,250 The company operates “Gyoza no Ohsho,” the largest Chinese restaurant chain, both Stock price (JPY) (Jun 21) 5,610 directly and through franchisees nationwide. The company’s earnings have been robust Market cap (JPYbn) 130.6 since pre-COVID-19 pandemic. Although sales of in-store dining declined as it was forced Key changes to shorten business hours in the wake of the COVID-19, sales of take-out and delivery have Rating New been strong. The company posted an OP of 6.1bn yen (OPM 7.5%) in FY3/21 while many of Target price New its competitors posted losses. With the withdrawal of underperforming restaurants, the Earnings forecast New potential locations for new openings have been increasing. The company appears to be the Stock price (JPY) only major Chinese restaurant chain that can continue to make positive investments. In our 10,000 view, the company’s competitive advantage will continue to strengthen. 9,000 8,000 7,000 The catalysts we envision for an upturn in the stock price include strong monthly same- 6,000 5,000 store sales, recovery in quarterly profits, easing of requests by local governments to 4,000 3,000 shorten business hours, and progress in vaccination against the COVID-19.
  • HIDAY HIDAKA Corporation

    HIDAY HIDAKA Corporation

    HIDAY HIDAKA Corporation Restaurant chain serving ramen and Chinese dishes to the mass-market: focusing on new business formats despite the impact of COVID-19 TICKER: 7611 | TSE1 | HP: http://hidakaya.hiday.co.jp/english/ | LAST UPDATE: 2021.08.23 Business Strengths and weaknesses Runs Hidakaya restaurant chain near train stations in Greater Tokyo; particular focus Strengths on opening new branches in Kanagawa Cost advantages from area-dominant Business model: Core business is chain of Hidakaya restaurants (94.2% of strategy and central kitchen: GPM above FY02/21 sales) that serve ramen, gyoza (dumplings), and other popular Chinese 70% for over 20 years through FY02/21, dishes. It also offers side dishes that go with alcohol for customers who want a despite relatively low-price menu. One of only quick drink. Customers range from students to businesspeople, late-shift workers, a handful of leading listed restaurant and seniors, all attracted by affordable prices (JPY390 for ramen and JPY230 for operators with a GPM above 70%. gyoza including tax) and late hours (nearly half of stores are open till 2 a.m.; more Directly operated restaurants maintain than 10% are open 24 hours*). Average customer spend is about JPY750 (before quality, boost brand power, and enable tax; FY02/21). Per the company, no other chain operates the same restaurant flexible operations format (serving both ramen and Chinese dishes). From FY02/10 to FY02/19, Low prices and classic dishes keep HIDAY HIDAKA maintained an OPM of over 10%, but in FY02/21 sales fell and the customers coming back: Maintained company posted an operating loss, due in large part to shortened opening hours comparable store sales of at least 100% YoY amid the COVID-19 outbreak.
  • 2017 Thanksgiving Day and Thanksgetting Day Merchant Hours

    2017 Thanksgiving Day and Thanksgetting Day Merchant Hours

    2017 THANKSGIVING DAY AND THANKSGETTING DAY MERCHANT HOURS Mall hours on ThanksGetting Day are from 6am−9pm. Stores listed below are open at different hours. Some stores will stay open from the 23th−24th and are noted below. THANKSGIVING DAY NOVEMBER 23, 2017 THANKSGIVING DAY NOVEMBER 23, 2017 Store/Restaurant Hours Store/Restaurant Hours Aldo etc. 6pm–12am Morton’s Steakhouse 1pm–9pm Chapel Hats 6pm–10pm Nagasaki Champon by Ringer Hut 6pm–11pm Cho Dang 8am–1am (11/24) Nijiya 10am–6pm Claire’s 5pm–1am Old Navy 3pm–1am (11/24) Coach 6pm–12am Panda Express 6pm–12am Cole Haan 9pm–12am Panini Grill 6pm–12am Express 6pm–12amw Patisserie La Palme D’Or 9:30am–2pm Foot Locker 6pm–12am Rip Curl 6pm–2am (11/24) Fossil 6pm–12am Rokkaku Hamakatsu 6pm–10pm GEN Korean BBQ House 10am–11pm Ross Dress For Less 6pm–12am Gymboree 6pm–12am Saint Germain Bakery 8:30am–2pm Happy Wahine 6pm–12am Saks OFF 5TH 6pm–12am Hot Topic 6pm–12am Sbarro 6pm–12am Island Crepes & Lemonade 6pm–12am Sera’s Surf ’n Shore 8pm–1am (11/24) Jade Dynasty Seafood & Shoe Palace 6pm–12am 10:30am–10pm Restaurant Skechers 6pm–12am Jeans Warehouse 6pm–12am Sobaya 6pm–11pm John Masters Organics 6pm–12am Subway 6pm–12am Kids FootLocker 6pm–12am Sunglass Hut 6pm–2am (11/24) Lady FootLocker 6pm–12am Sunglass Hut 6pm–2am (11/24) Lahaina Chicken Co. 6pm–12am Sunglass Hut 6pm–2am (11/24) Lids 6pm–12am Target 6pm–12am Lids 6pm–12am Toys R US Express 6pm–12am Lids Locker Room 6pm–12am Tricked Out Accessories 6pm–12am L’Occitane 6pm–12am True Friends 6pm–12am Longs Drugs 5am–5pm Truffaux 5:30pm–12:30am Lucky Strike Social 10am–12am VR Junkies 6pm–12am malie 6pm–12am Sugarfina 6pm–12am Michael Kors 6pm–12am Wind Spinners 6pm–12am Microsoft 6pm–12am *Sunglass Hut has 3 locations: Street Level 1, Center Court, Level 3, Ewa Wing and Level 3, Mauka Wing.
  • Published on 7 October 2016 1. Constituents Change the Result Of

    Published on 7 October 2016 1. Constituents Change the Result Of

    The result of periodic review and component stocks of TOPIX Composite 1500(effective 31 October 2016) Published on 7 October 2016 1. Constituents Change Addition( 70 ) Deletion( 60 ) Code Issue Code Issue 1810 MATSUI CONSTRUCTION CO.,LTD. 1868 Mitsui Home Co.,Ltd. 1972 SANKO METAL INDUSTRIAL CO.,LTD. 2196 ESCRIT INC. 2117 Nissin Sugar Co.,Ltd. 2198 IKK Inc. 2124 JAC Recruitment Co.,Ltd. 2418 TSUKADA GLOBAL HOLDINGS Inc. 2170 Link and Motivation Inc. 3079 DVx Inc. 2337 Ichigo Inc. 3093 Treasure Factory Co.,LTD. 2359 CORE CORPORATION 3194 KIRINDO HOLDINGS CO.,LTD. 2429 WORLD HOLDINGS CO.,LTD. 3205 DAIDOH LIMITED 2462 J-COM Holdings Co.,Ltd. 3667 enish,inc. 2485 TEAR Corporation 3834 ASAHI Net,Inc. 2492 Infomart Corporation 3946 TOMOKU CO.,LTD. 2915 KENKO Mayonnaise Co.,Ltd. 4221 Okura Industrial Co.,Ltd. 3179 Syuppin Co.,Ltd. 4238 Miraial Co.,Ltd. 3193 Torikizoku co.,ltd. 4331 TAKE AND GIVE. NEEDS Co.,Ltd. 3196 HOTLAND Co.,Ltd. 4406 New Japan Chemical Co.,Ltd. 3199 Watahan & Co.,Ltd. 4538 Fuso Pharmaceutical Industries,Ltd. 3244 Samty Co.,Ltd. 4550 Nissui Pharmaceutical Co.,Ltd. 3250 A.D.Works Co.,Ltd. 4636 T&K TOKA CO.,LTD. 3543 KOMEDA Holdings Co.,Ltd. 4651 SANIX INCORPORATED 3636 Mitsubishi Research Institute,Inc. 4809 Paraca Inc. 3654 HITO-Communications,Inc. 5204 ISHIZUKA GLASS CO.,LTD. 3666 TECNOS JAPAN INCORPORATED 5998 Advanex Inc. 3678 MEDIA DO Co.,Ltd. 6203 Howa Machinery,Ltd. 3688 VOYAGE GROUP,INC. 6319 SNT CORPORATION 3694 OPTiM CORPORATION 6362 Ishii Iron Works Co.,Ltd. 3724 VeriServe Corporation 6373 DAIDO KOGYO CO.,LTD. 3765 GungHo Online Entertainment,Inc.
  • Resolving Labour Shortage? the Digital Transformation of Working Practices in the Japanese Service Sector

    Resolving Labour Shortage? the Digital Transformation of Working Practices in the Japanese Service Sector

    This is an open source publication by LeidenAsiaCentre, July 2019. LEIDENASIACENTRE Resolving Labour Shortage? The Digital Transformation of Working Practices in the Japanese Service Sector Saori Shibata LeidenAsiaCentre is an independent research centre affiliated with Leiden University and made possible by a grant from the Vaes Elias Fund. The centre focuses on academic research with direct application to society. All research projects are conducted in close cooperation with a wide variety of partners from Dutch society. More information can be found on our website : www.leidenasiacentre.nl For contact or orders: [email protected] M. de Vrieshof 3, 2311 BZ Leiden, The Netherlands 0 1. Introduction Many advanced democracies, including Japan, face a shift toward an ageing society and a labour shortage. The Japanese Ministry of Labour, Health and Welfare (MHLW) reports in its Labour Economy Survey that on average roughly 55 % of firms in the hospitality industry (hotels, restaurants and cafes) face a labour shortage of part-time workers in 2018 (MHLW 2018:7). Many restaurants in Japan were already forced to end 24-hour opening due to labour shortages (Harding 2017). It has progressed automation in restaurants. For instance, an increasing number of restaurants and cafes started introducing automation and robotisation, increasing labour productivity, improving advertisement, requiring a smaller number of workers and reducing labour costs. Some restaurants integrated registered customers’ smartphones and send advertising messages to their smartphones when they are near to restaurants. This can contribute to the reduction of advertisement costs and effectively increase customers. IBM Japan invented a system named “Chef Watson”, which creates a large number of menus for restaurants with just a little input of some food ingredients (Nakata 2014).
  • Global Equity Fund Description Plan 3S DCP & JRA MICROSOFT CORP

    Global Equity Fund Description Plan 3S DCP & JRA MICROSOFT CORP

    Global Equity Fund June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA MICROSOFT CORP 2.5289% 2.5289% APPLE INC 2.4756% 2.4756% AMAZON COM INC 1.9411% 1.9411% FACEBOOK CLASS A INC 0.9048% 0.9048% ALPHABET INC CLASS A 0.7033% 0.7033% ALPHABET INC CLASS C 0.6978% 0.6978% ALIBABA GROUP HOLDING ADR REPRESEN 0.6724% 0.6724% JOHNSON & JOHNSON 0.6151% 0.6151% TENCENT HOLDINGS LTD 0.6124% 0.6124% BERKSHIRE HATHAWAY INC CLASS B 0.5765% 0.5765% NESTLE SA 0.5428% 0.5428% VISA INC CLASS A 0.5408% 0.5408% PROCTER & GAMBLE 0.4838% 0.4838% JPMORGAN CHASE & CO 0.4730% 0.4730% UNITEDHEALTH GROUP INC 0.4619% 0.4619% ISHARES RUSSELL 3000 ETF 0.4525% 0.4525% HOME DEPOT INC 0.4463% 0.4463% TAIWAN SEMICONDUCTOR MANUFACTURING 0.4337% 0.4337% MASTERCARD INC CLASS A 0.4325% 0.4325% INTEL CORPORATION CORP 0.4207% 0.4207% SHORT-TERM INVESTMENT FUND 0.4158% 0.4158% ROCHE HOLDING PAR AG 0.4017% 0.4017% VERIZON COMMUNICATIONS INC 0.3792% 0.3792% NVIDIA CORP 0.3721% 0.3721% AT&T INC 0.3583% 0.3583% SAMSUNG ELECTRONICS LTD 0.3483% 0.3483% ADOBE INC 0.3473% 0.3473% PAYPAL HOLDINGS INC 0.3395% 0.3395% WALT DISNEY 0.3342% 0.3342% CISCO SYSTEMS INC 0.3283% 0.3283% MERCK & CO INC 0.3242% 0.3242% NETFLIX INC 0.3213% 0.3213% EXXON MOBIL CORP 0.3138% 0.3138% NOVARTIS AG 0.3084% 0.3084% BANK OF AMERICA CORP 0.3046% 0.3046% PEPSICO INC 0.3036% 0.3036% PFIZER INC 0.3020% 0.3020% COMCAST CORP CLASS A 0.2929% 0.2929% COCA-COLA 0.2872% 0.2872% ABBVIE INC 0.2870% 0.2870% CHEVRON CORP 0.2767% 0.2767% WALMART INC 0.2767%
  • Vanguard Total World Stock Index Fund Annual Report October 31, 2020

    Vanguard Total World Stock Index Fund Annual Report October 31, 2020

    Annual Report | October 31, 2020 Vanguard Total World Stock Index Fund See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports. Important information about access to shareholder reports Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of your fund’s annual and semiannual shareholder reports will no longer be sent to you by mail, unless you specifically request them. Instead, you will be notified by mail each time a report is posted on the website and will be provided with a link to access the report. If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. You may elect to receive shareholder reports and other communications from the fund electronically by contacting your financial intermediary (such as a broker-dealer or bank) or, if you invest directly with the fund, by calling Vanguard at one of the phone numbers on the back cover of this report or by logging on to vanguard.com. You may elect to receive paper copies of all future shareholder reports free of charge. If you invest through a financial intermediary, you can contact the intermediary to request that you continue to receive paper copies. If you invest directly with the fund, you can call Vanguard at one of the phone numbers on the back cover of this report or log on to vanguard.com. Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard.
  • Activia Properties Inc. (Code: 3279/API)

    Activia Properties Inc. (Code: 3279/API)

    （証券コード：3279/API） Activia Properties Inc. (Code: 3279/API) Financial Results Presentation for the 18th Fiscal Period Ended November 2020 – January 2021 Section1 1. Executive Summary 2. Financial Results・Forecasts Section2 3. Internal Growth 4. External Growth 5. Finance・ESG Appendix Relaxing green courtyard (A-PLACE Shinagawa Higashi） 1. Executive Summary Measures to Reiterate “Unitholder Value Improvement” ~ Keys Points for Future Operation ~ 3 ➢ Moving to the new phase where API would be able to demonstrate unique advantages, such as prime location & high quality, after finishing the phase of supporting our tenants to continue their business operations ➢ Occupancy rate is expected to improve after marking its lowest rate during the first half of 2021. Thereafter, as soon as possible, we aim to return to the normalized operation level for all the property types excluding hotels. Business environment Operational results Key points • Potential size of the negative • Fulfilled our social impacts from COVID-19 re- responsibility with minimizing • Leasing strategy aiming at expansion in Japan and overseas negative impact on DPU internal growth is the priority Response to remains uncertain • Implement measures to improve • Continue to grant relief to COVID-19 • Vaccination will raise positive our unitholder value including retailers in response to expectations for post COVID-19 additional provision on sales- circumstances economic recovery linked rent to contract • Leasing activities prolonged due to • Continued to achieve steady increased
  • The Banquet for ICHEP2000

    The Banquet for ICHEP2000

    The Banquet for ICHEP2000 You are cordially invited to the Banquet for ICHEP2000 to be held a Hotel New Otani Osaka at 6:30 PM on July 31, 2000. Your ticket for the banquet is in your name tag holder. If you have ordered a banquet for your accompanying person, it is also in your name tag holder. Please have your n tag attached at the banquet. How to get to the Hotel New Otani Osaka Hotel New Otani is only a 3 minute walk from the subway Osaka Business Park (OBP) station. Take EXIT 1, walk straight ahead for 200m, and you will find the hotel on your left. 1. From the Conference Site (International House, Osaka), Hotel the Live Artex, Miyako Hotel Osaka, Hotel Awina Osaka Tanimachi 9-chome [platform 2, for Dainichi]--(Tanimachi Line)--> Tanimachi 6-chome [platform 1, for Kyobashi, Kadoma Minami] -(Nagahori Tsurumi Ryokuchi Line)--> Osaka Business Park, 230 Yen. Another way is to take a taxi from Uehonmachi, which costs about 1500-2000 Yen. 2. From Holiday Inn Nankai-Osaka, Hotel Nankai Namba Namba [platform 2, for Umeda, Shin-Osaka, Senri-Chuo] --(Midosuji Line)--> Shinsaibashi [platform 1, for Kyobashi, Kadoma Minami] --(Nagahori Tsurumi Ryokuchi Line)--> Osaka Business Park, 230 Yen. Taxi would cost about 2500 - 3000 Yen. 3. From Osaka Namba Washington Hotle Plaza Nipponbashi [platform 2, for Tenjinbashisuji 6-chome, Kitasenri, Takatsuki]--(Sakaisuji Line)--> Nagahoribashi [platform 1, for Kyobashi, Kadoma Minami] -(Nagahori Tsurumi Ryokuchi Line)--> Osaka Business Park, 230 Yen. 4. From Nissin Namba Inn Daikokucho [platform 4, for Namba, Umeda, Senri-Chuo] --(Midosuji Line)--> Shinsaibashi [platform 1, for Kyobashi, Kadoma Minami] --(Nagahori Tsurumi Ryokuchi Line)--> Osaka Business Park, 270 Yen.
  • Prime Retail Markets Across Japan

    Prime Retail Markets Across Japan

    A CUSHMAN & WAKEFIELD RESEARCH PUBLICATION THE CONTINUALLY CHANGING LANDSCAPE OF PRIME RETAIL MARKETS ACROSS JAPAN SEPTEMBER 2017 INSIGHTS INTO ACTION A CUSHMAN & WAKEFIELD RESEARCH PUBLICATION CONTENTS SUMMARY PRIME RETAIL MARKETS ACROSS JAPAN RANKING 4 The landscape of Japan’s mature SILVER SEAT TAKES THE GOLD 5 retail market is gradually changing. RANKINGS DANCE TO THE BEAT OF REDEVELOPMENT & TOURISM 6 Area redevelopment projects will change the pedestrian flow and AMBITIOUS SHIBUYA REDEVELOPMENT HAS THE POTENTIAL TO CHANGE THE LANDSCAPE 8 each submarket’s fundamentals, OUTLOOK 10 continue to show change. Trends like community oriented retail, pop- TOWARDS AN EXPERIENCE BASED RETAIL MARKET 12 up shops, athleisure and food halls COMMUNITY ORIENTED STORES BUILD A SENSE OF BELONGING 13 are reflecting changing consumer HEALTH & WELLNESS TREND PROVIDING TAILWIND FOR ATHLEISURE 14 preferences. Subsequently retail POP-UP SHOPS CREATE BUZZ 15 markets are shifting and we are seeing FOOD HALLS DRAWING IN CONSUMERS 16 changes in the relative positions of Japan’s major retail markets. While the Top Tier Ginza market is showing no signs of relinquishing the number one position, the 56 markets below are due for some exciting changes. INSIGHTS INTO ACTION 2 THE CONTINUALLY CHANGING LANDSCAPE OF 3 PRIME RETAIL MARKETS ACROSS JAPAN A CUSHMAN & WAKEFIELD RESEARCH PUBLICATION This section outlines the shifts happening in Japan’s retail markets through Street examination of the changes in rental rates. When THE SILVER SEAT TAKES GOLD analyzing retail markets, One Way the typical approach is Ginza commands the highest retail Further, Ginza continues to reinvent to look at Tier 1 streets rents in Japan and this comes as no itself and evolve.
  • Activia Properties Inc. Financial Results Presentation for the Period Ended May 2018 (The 13Th Period）July 2018 （Ticker Symbol: 3279/API） 1

    Activia Properties Inc. Financial Results Presentation for the Period Ended May 2018 (The 13Th Period）July 2018 （Ticker Symbol: 3279/API） 1

    View of central Tokyo from DECKS Tokyo Beach Activia Properties Inc. Financial Results Presentation for the Period ended May 2018 (the 13th Period）July 2018 （Ticker symbol: 3279/API） 1. Financial Highlights 2. External Growth, Internal Growth and Financial Strategies 3. Financial Forecasts 4. Others 5. Appendix Portfolio Strategy backed by High Asset Management Capability and External & Internal Growth Strategy generating Virtuous Cycle 2 Construct the most appropriate portfolio through property acquisition reflecting closely the changing market Jun. 2012 Nov. 2015 Jun. 2018 End of Beg. of at IPO 8th period 14th period ¥170.4bn Focused Focused Focused investment ¥292.9bn investment ¥431.5bn investment 79.7% 81.3% 80.6% 24.4% 55.3% 37.2% 44.2% 45.6% 35.0% Diversified portfolio Increased office Continues to through properties promising 28.5% 43.3% 44.9% acquire both retail enhancement of AUM contribution to and office through PO aiming at internal growth by properties of high 71.5% stabilization of 56.7% grasping at early 55.1% 20.3% quality, even after revenue timing the needs in 19.4% important tenants’ 18.7% market, backed by departure stability of retail properties Inner circle : Office Retail Outer circle : Tokyo Office (TO） Activia Account (AA) Urban Retail (UR） Continual external growth created virtuous cycle reinforcing portfolio and generating growth capability API’s strategy for Reinforcement of stability Reinforcement of growth capability external & internal growth cycle Breakdown of area with rent Ratio of rent of top 10