* * * * * * * * * T E R R I E 'S T A K E * * * * * * *<br>A weekly roundup of news & information from Terrie Lloyd.<br>(<a href="http://www.terrie.com">http://www.terrie.com</a>)<br><br>General Edition Sunday, June 13, 2010 Issue No. 569<br>
<br>+++ INDEX<br><br>- What's New<br>- News<br>- Candidate Roundup/Vacancies<br>- Upcoming Events<br>- Corrections/Feedback<br>- News Credits<br><br>SUBSCRIBE to, UNSUBSCRIBE from Terrie's Take at:<br><a href="http://mailman.japaninc.com/mailman/listinfo/terrie">http://mailman.japaninc.com/mailman/listinfo/terrie</a><br>
<br>BACK ISSUES<br><a href="http://www.japaninc.com/terries_take">http://www.japaninc.com/terries_take</a>, or,<br><a href="http://mailman.japaninc.com/pipermail/terrie/">http://mailman.japaninc.com/pipermail/terrie/</a><br>
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or call: 03-4550-2557.<br><br>------------- PBXL is Business Communications -------------<br><br><br>+++ WHAT'S NEW<br><br>The Japanese retailing scene is undergoing a <br>transformational change, as deflation ensures that only <br>
innovators and price busters make money and pretty much <br>everyone else loses. The biggest losers are those unwilling<br>or unable to make/source their own products and who are <br>hamstrung by intransigent suppliers who won't cut costs. <br>
Thus it has come about that the big brands who rely on <br>Japan's famously byzantine distribution networks are <br>suffering serious declines in sales.<br><br>In our opinion there are four domestic companies leading <br>
the charge towards efficiency, vertical integration, and <br>price cutting in four major retailing sectors. These are <br>companies that over the next 5-10 years will start to grow <br>overseas and could challenge the foreign leaders in each <br>
sector with their self discipline and increasing purchasing<br>power. Significantly, they will grow in Asia first, out of <br>the reach of the U.S. majors who could most seriously <br>damage them while they are learning to navigate <br>
international markets. If they can stay under the radar for<br>a while, then we may be witnessing the next generation of <br>Japanese global competitors.<br><br>The four sectors are apparel, furniture, shoes, and general<br>
merchandise and the players are Uniqlo, Nittori, ABC-Mart, <br>and Don Quijote. Of course there are also some very <br>aggressive and successful foreign brands in the first two <br>sectors: such as The Gap and Ikea, but we've yet to see <br>
strong foreign players in footwear or general merchandising<br>(GMS) -- perhaps Walmart over time will fill the GMS <br>sector.<br><br>It's often occurred to us that there is one more important <br>retailing sector which has yet to be staked out by a single<br>
retailing chain, and that's cosmetics. Yes, there is DHC, <br>which now has over 100 stores nationwide, about 3,000 <br>employees, and almost 8m mail order customers. But the <br>company is private and no one really knows what condition <br>
the business is in or if it is making serious profits in <br>the order of its listed compatriots. We definitely think <br>there is an open opportunity for Uniqlo or someone else to <br>create a similar phenomenon to the clothing business in <br>
cosmetics. It would need, as DHC is already doing, an <br>end-to-end capability, so as to give Japanese consumers the<br>same quality they get with brand products, for a fraction <br>of the price -- and of course strong marketing <br>
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<br>Most of these relatively new players were established in <br>the 1980's (Uniqlo stores appeared in 1983, although Fast <br>Retailing was established much earlier in 1963) and were <br>just "one of the pack" for the first 10-15 years of their <br>
existence. But with the bursting of the bubble in the early<br>1990's, deflation started kicking in and Japanese who still<br>needed their shopping therapy, even though their purchasing<br>power had dropped, started flocking to the leading <br>
cost-cutters. Bred in a mercantilistic society, each firm has <br>understood that it needs to control the end-to-end production <br>of goods that it sells to its consumers, thus eliminating <br>middleman margins and allowing absolute quality control and <br>
responsiveness to consumer demands.<br><br>What a minute, you might say, what about Don Quijote? Don't<br>they just sell loads of junk and other people's brands, <br>rather than having end-to-end control? If you're familiar <br>
with Donki's (an affectionate term for the store by <br>regulars) standard stores, yes, you would have to say that <br>they are more of a traditional retailer and you would have <br>to wonder how they are able to push prices down so low. <br>
<br>But if you take a look at their recent acquisitions such as<br>Nagasakiya GMS and Big1 discounters (they took over <br>Nagasakiya in 2007 and Big1 last year), they are hard at <br>work turning them into MEGA Don Quijote stores, which are <br>
more like regular supermarkets. In doing this, it appears <br>that even Don Quijote is moving to an end-to-end model, not<br>just with products made in China, but also local products <br>and produce as well.<br><br>Don Quijote is an interesting company. It isn't as <br>
profitable as Uniqlo, but is nonetheless growing by leaps <br>and bounds both through M&A and also through continuing <br>store openings and regular refreshment of existing stores. <br>Surprisingly the company is only 21 years old and yet <br>
already has estimated sales (as of the end of this month, <br>June, 2010) of JPY496bn (US$5.45bn) and anticipated profits<br>this year of JPY20.7bn (US$220.77m). <br><br>The company is famous for its unconventional retailing <br>
style, using what it called a "compressed" presentation <br>system. By this it means that it haphazardly stacks goods <br>of all types from floor to ceiling and challenges shoppers <br>to find what they are looking for. This type of format has <br>
been criticized in the past as a fire hazard, and an <br>arsonist tried to prove that point a few years ago. <br>However, according to the founder, Takao Yasuda, the <br>shopping maze approach is on purpose, so that people will <br>
keep coming back to make fresh finds -- a bit like being in<br>a treasure hunt. <br><br>Clearly this kind of shopping is not for people who know <br>what they want, but rather those who are shopping for <br>recreation. Yasuda recognizes this and says that regular <br>
Don Quijote stores are for younger people and night owls, <br>who shop for therapy. To emphasize the point, the company <br>shows in its IR materials that foot traffic after 23:00 is <br>still quite high. On the other hand, more purposeful <br>
customers like housewives can go to the new and<br>much more orderly MEGA stores, which are also <br>opening all around the country.<br><br>Shopping therapy is a recurring theme with this new <br>generation of successful cost cutting retailers, where the <br>
products themselves are so cheap people can afford to buy <br>them for entertainment, not because they necessarily need <br>them. However, unlike Don Quijote, which just keeps piling <br>products on top of others, Uniqlo et al are more into more <br>
disciplined displays and rely on regular highly-publicized <br>refreshment of their store inventories to bring shoppers <br>back on a repeating basis.<br><br>Another difference with Don Quijote is that it isn't trying<br>
to stake out any particular niche, indicating the fact that<br>they are not yet completely bought in to the concept of <br>controlling the entire concept-to-sale process. Instead, <br>they are more conventionally traders, seizing opportunistic<br>
deals to present and shock/entertain their customers. In <br>May they announced the cheapest suit you can buy in Japan, <br>at just JPY4,900, including a jacket and trousers. Until <br>that time, the cheapest suit was a JPY5,000 outfit from <br>
Seiyu GK (aka Walmart). We don't think Don Quijote was <br>really looking for profits in marketing the suit -- it is <br>just one more piece of entertainment for loyal shoppers.<br><br><br>...The information janitors/<br>
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foreign multinationals, including some of the world's<br>largest banks, logistics, and retailing companies.<br><br>Service Offerings:<br>* IT Infrastructure Projects, Office Setups/Relocations<br>* MS Office Training, Hardware/Software Procurement<br>
* IT Personnel Outsourcing and Recruiting<br>* BiOS NetCare: Bilingual IT Service Desk and Support<br>* BiOS Advanceserve: Secure Online Data Backup (free trial)<br><br>BiOS is committed to providing quality services at <br>
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<br><br>+++ NEWS<br><br>- Golf club memberships get cheaper<br>- Good time to be negotiating rents<br>- Mortgages way down as well<br>- Satellite proves space program isn't so bad after all<br>- PM says Miyazaki foot & mouth epidemic a national crisis<br>
<br><br><br>-> Golf club memberships get cheaper<br><br>Golf club membership broker and industry publisher Juchi <br>Golf has announced that the value of golf club memberships <br>continued to drop and were down 4% since January 2010. It <br>
now costs an average of JPY1.55m to buy a membership, well <br>down on the JPY10m or more being paid out 20 years ago at <br>the peak of the bubble. Juchi says that selling by <br>corporations looking to hoard cash is pushing down club <br>
membership values. Currently there are more sellers than <br>buyers. ***Ed: While Juchi expects prices to fall even <br>further, we don't think it will be long before savvy <br>Chinese players realize that they can get better golfing <br>
here in Japan and start buying up golf courses to cater to <br>the new-rich from that country.** (Source: TT commentary <br>from <a href="http://nikkei.com">nikkei.com</a>, Jun 11, 2010)<br><br><a href="http://e.nikkei.com/e/ac/tnks/Nni20100611D11SS964.htm">http://e.nikkei.com/e/ac/tnks/Nni20100611D11SS964.htm</a><br>
<br>-> Good time to be negotiating rents<br><br>Your landlord giving you a hard time (ours certainly is)? <br>Maybe you need to quote them the fact that according to <br>realtor Miki Shoji, the office vacancy rate in central <br>
Tokyo is at a record high 8.94%, up 0.12% in May from <br>April. This is the highest vacancy rate since Miki Shoji <br>started tracking rents in 1989. The average rents are down <br>12.45% from the same period in 2009. (Source: TT commentary<br>
from <a href="http://nikkei.com">nikkei.com</a>, Jun 11, 2010)<br><br><a href="http://search.japantimes.co.jp/cgi-bin/nb20100611a5.html">http://search.japantimes.co.jp/cgi-bin/nb20100611a5.html</a><br><br>-> Mortgages way down as well<br>
<br>When people are worried about their futures, they <br>stop making large capital investments, particularly on <br>homes. And that is what is happening in the domestic <br>housing sector this year. According to the Bank of Japan, <br>
new mortgages were down 4.6%, falling to JPY14.15trn, which<br>is the lowest loan level in 9 years. The Ministry of Land <br>reckons that a small uptick in housing starts in April, to <br>66,568 units, indicates that things may be turning around, <br>
but at 0.6% of an increase, it's obviously not enough to be<br>a solid trend at this stage. As a result, banks are <br>offering very competitive home mortgage rates -- with SBI <br>Sumishin Net Bank offering a variable rate loan of just <br>
1.075% annual interest at present. (Source: TT commentary <br>from <a href="http://nikkei.com">nikkei.com</a>, Jun 10, 2010)<br><br><a href="http://e.nikkei.com/e/ac/tnks/Nni20100609D09JFA15.htm">http://e.nikkei.com/e/ac/tnks/Nni20100609D09JFA15.htm</a><br>
<br>-> Satellite proves space program isn't so bad after all<br><br>Although the Japanese space program has suffered a number <br>of setbacks in the last nine months resulting in the loss <br>of at least two JPY10bn satellites, the JAXA team have had <br>
at least one impressive win. Their Hayabusa spacecraft, <br>launched 7 years ago to land on a passing asteroid and take<br>samples, is about to touch down somewhere in Australia <br>today (June 13th). This has been quite an amazing feat, <br>
sending the spacecraft out 3bn kilometers to land on a 540m<br>hunk of rock then travel another 3bn kilometers back <br>again... (Source: TT commentary from <a href="http://businessweek.com">businessweek.com</a>, Jun <br>
12, 2010)<br><br><a href="http://tinyurl.com/26radcu">http://tinyurl.com/26radcu</a><br><br>-> PM says Miyazaki foot & mouth epidemic a national crisis<br><br>Those of us living in Tokyo forget that although Japan is <br>
not self sufficient in food, its farming industry is <br>nonetheless quite substantial. However, now one of the <br>leading breeding areas in the country for Wagyu beef is <br>about to have its entire herd wiped out by government <br>
exterminators seeking to get the foot-and-mouth outbreak <br>under control. The PM traveled to Miyazaki and after seeing<br>the extent of the cull sales that the outbreak is a <br>national crisis. More than 200k animals are scheduled to be<br>
culled, and now it looks like a lot more will have to go as<br>well. (Source: TT commentary from <a href="http://channelnewsasia.com">channelnewsasia.com</a>, Jun <br>12, 2010)<br><br><a href="http://www.channelnewsasia.com/stories/afp_asiapacific/view/1062766/1/.html">http://www.channelnewsasia.com/stories/afp_asiapacific/view/1062766/1/.html</a><br>
<br><br>NOTE: Broken links<br>Many online news sources remove their articles after just a<br>few days of posting them, thus breaking our links -- we<br>apologize for the inconvenience.<br><br>***------------------------****-------------------------***<br>
<br>---------- Microfinance in the South Pacific --------------<br><br>Help Combat Poverty in the Pacific through MicroDreams<br><br>The MicroDreams Foundation is a U.S. and N.Z. based <br>charitable organization that empowers the poorest of the <br>
poor to grow micro-businesses and pursue their dreams.<br><br>MicroDreams partners with world class micro-enterprise<br>development organizations to provide poor families <br>especially in the opportunity-starved nations of the <br>
Pacific with:<br><br>- Micro-enterprise development training and financing<br>- Childhood education financing<br>- Housing improvement financing<br>- Savings<br>- Life Insurance<br>- Increased self-esteem<br><br>The easiest way to help MicroDreams is by donating online<br>
at <a href="http://www.microdreams.org">www.microdreams.org</a>.<br>-----------------------------------------------------------<br><br>***------------------------****-------------------------***<br><br>+++ CANDIDATE ROUND UP/VACANCIES<br>
<br>=> BiOS, a Division of the LINC Media group, is actively <br>marketing the following positions for customers setting up <br>or expanding in Japan, as well as other employers of <br>bilinguals.<br><br>** HIGHLIGHTED POSITION(S)<br>
<br>BiOS is currently looking for S&P Vendor Business Manager, <br>for an exciting opportunity to expand your product, <br>business management expertise and take a leadership <br>position on this key function. This is a highly dynamic <br>
role where you will have the opportunity to work with <br>talented people across the various departments at a highly <br>visible Global vendor, and be highly influential in <br>delivering the optimal business result for the client, and <br>
would be well suited to either a System Consultant or a <br>Solutions Architect looking to expand their career in the <br>product/business management field.<br><br>Your key responsibilities in this role will be driving and <br>
delivering on the APC Business result, driving effective <br>sales engagement while managing related product lines. <br>This is a challenging and rewarding role, requiring an <br>in-depth ability to assess and manage the project <br>
portfolio. As you will be required to operate with a <br>minimum of supervision and liaise on a regular basis with <br>project stake holders and executive managers, high levels <br>of responsibility in your previous roles are a must, as are<br>
excellent communication skills and an eye for detail. This <br>is a challenging step up for an experienced PM looking to <br>ground their career in a more international setting.<br><br>Remuneration is up to JPY10m depending on your experience <br>
and technical level.<br><br><br>** POSITIONS VACANT<br><br>- Jnr Sales Rep, Plastics Manf, Ebina, JPY4m – JPY6m<br>- eSourcing Account Manager, JPY4.5m – JPY5.5m<br>- Enterprise System Team Lead JPY6m – JPY8m<br>- Level 3 support Enginer, Global Vendor., JPY6m – JPY8m<br>
- Unix Engineer, Okinawa I-Bank, JPY4m – JPY5m<br><br>Interested individuals may e-mail resumes to:<br><a href="mailto:stuart.gibson@biosjp.com">stuart.gibson@biosjp.com</a><br><br>** BiOS Job Mail<br><br>Every 2 weeks BiOS sends out a regular communication to its<br>
job seeking candidates, called BiOS Job Mail. Every edition<br>carries a list of BiOS's current and most up-to-date<br>vacancies, with each entry featuring a short job<br>description and a direct link to the main entry on the BiOS<br>
home page. Regardless of whether you are unemployed and<br>searching, thinking about a career change, or just curious<br>to know if there is something out there that might suit you<br>better, the BiOS Job Mail newsletter is an easy and<br>
convenient way for you to stay informed. If you would like<br>to register for the BiOS Job Mail, or to find out more,<br>please email <a href="mailto:stuart.gibson@biosjp.com">stuart.gibson@biosjp.com</a>.<br><br>Interested individuals may e-mail resumes to:<br>
<a href="mailto:stuart.gibson@biosjp.com">stuart.gibson@biosjp.com</a><br><br>-----------------------------------------------------------<br><br>----------- Making Web Sites More Affordable --------------<br><br>LINC Media's Electronic Commerce team is proud to announce<br>
its "WEB PARTNERS" program, whereby we create fully EC<br>enabled websites with as much functionality as you need, <br>plus year-round support, for a flat monthly fee.<br><br>Avoid upfront costs and lack of support after the site is<br>
up, with the LINC Media WEB PARTNERS service. Our customers<br>to date include major international airlines, Social <br>Network Service sites, and online stores for consumer<br>products.<br><br>Program includes:<br>- Japanese/English website development<br>
- Configuration of core software (Wordpress or Drupal, etc.)<br>- Software development (PHP, mySQL, etc.)<br>- Daily changes to the site<br>- Hosting, security, and backup<br><br>WEB PARTNERS is backed by a solid fully-bilingual team<br>
with strong credentials and a desire to please. <br><br>Contact: nana.yamaguchi at <a href="http://lincmedia.co.jp">lincmedia.co.jp</a> for details.<br>-----------------------------------------------------------<br><br>***------------------------****-------------------------***<br>
<br><br>+++ UPCOMING EVENTS/ANNOUNCEMENTS<br><br>------------------ ICA Event - June 17th ------------------<br><br>Speaker: Dr. Gerhard Fasol, CEO-Eurotechnology Japan K.K.<br>Topic: Current Mobile Market Trends - Opportunities For <br>
Japan<br><br>Details: Complete event details at: <a href="http://www.icajapan.jp/">http://www.icajapan.jp/</a><br>(RSVP Required)<br><br>Date: Thursday, June 17, 2010<br>Time: 6:30 Doors open, Pizza and Drinks included.<br>
Cost: 4,000 yen (members), 6,000 yen (non-members)<br><br>Open to all - Venue is Beacon Communications.<br>Address: 11F JR Tokyu Meguro Building (Tokyu-line Meguro <br>Station) 3-1-1 Kami-Osaki, Shinagawa-ku.<br><br><a href="http://www.beaconcom.jp/en/#/map">http://www.beaconcom.jp/en/#/map</a><br>
-----------------------------------------------------------<br><br>------------------- CCH HR Seminars 2010 ------------------<br><br>1. Japan Labor & Employment Law Seminar<br>- Navigating Common issues in Managing HR Matters<br>
- Review of amendments to Labor & Employment Law 2010<br>- Topical Issues: Bullying (Power Harassment) & Sexual <br>Harassment<br><br>Date: Friday, June 25th, 1:30pm-5:00pm<br>Speaker: Hideki Kano, Attorney, Anderson, Mori & Tomotsune <br>
<br>2. Managing and Motivating Your Japanese Team for Success<br>-Bridging Cultural Difference as a Leader<br><br>Date: Thursday, 29th July, 1:30pm-5:00pm<br>Speaker: Rochelle Kopp, Principal, Japan Intercultural <br>Consulting<br>
<br>--Both Seminars--<br><br>Venue: Happo-en 5F Linden Room <br>Number of Seats: Each Seminar-50 seats<br>Language: English<br>Fees: Each Seminar-20,000JPY+Tax<br>If you attend both seminars you can receive a 5,000 yen <br>
discount!! Register at: <br><a href="https://www.cch-japan.jp/contents/register/form">https://www.cch-japan.jp/contents/register/form</a><br><br>For more details, Please Contact us at: <a href="mailto:support@cch.co.jp">support@cch.co.jp</a>,<br>
or 03-3265-1161, <a href="http://www.cch-japan.jp">www.cch-japan.jp</a>.<br><br><a href="http://www.cch-japan.jp">www.cch-japan.jp</a><br>-----------------------------------------------------------<br><br>------------- ICA Summer Networking Party!!!!! ------------<br>
<br>The ICA invites you to join our Summer Networking Party at<br>La Boheme in Shirogane. This will be an excellent <br>opportunity to catch up with old friends, meet new people <br>and network with peers in related industries, or simply to <br>
put names to faces.<br><br>Open bar (beer, wine, soft drinks) and great food will<br>be included. Be sure to bring your colleagues and friends <br>to join the party. Open to all, RSVP required.<br><br>Date: Thursday, 29th July, 2010<br>
Time: 19:00 to 21:30pm<br>Venue: La Boheme, Shirogane<br>Map: <a href="http://www.boheme.jp/jp/shirogane/home/location/printer">www.boheme.jp/jp/shirogane/home/location/printer</a><br>Cost: 3,000yen ICA members, 5,000yen non-members. <br>
*Includes open bar (beer, wine, soft drinks) & great <br>quality food.<br>-----------------------------------------------------------<br><br>***------------------------****-------------------------***<br><br>+++ CORRECTIONS/FEEDBACK<br>
<br>In this section we run comments and corrections submitted<br>by readers. We encourage you to spot our mistakes and<br>amplify our points, by email, to <a href="mailto:editors@terrie.com">editors@terrie.com</a>.<br><br>
*** No feedback this week.<br><br>***********************************************************<br>END<br><br>SUBSCRIBERS: 9,033 as of June 13th, 2010<br>(We purge our list regularly.)<br><br>+++ ABOUT US<br><br>STAFF<br>Written by: Terrie Lloyd (<a href="mailto:terrie.lloyd@japaninc.com">terrie.lloyd@japaninc.com</a>)<br>
<br>HELP: E-mail <a href="mailto:Terrie-request@mailman.japaninc.com">Terrie-request@mailman.japaninc.com</a><br>with the word 'help' in the subject or body (don't include<br>the quotes), and you will get back a message with<br>
instructions.<br><br>FEEDBACK<br>Send letters (Feedback, Inquiries & Information) to the<br>editor to <a href="mailto:terrie.lloyd@japaninc.com">terrie.lloyd@japaninc.com</a>.<br><br>ADVERTISING INFORMATION<br>For more information on advertising in this newsletter,<br>
Contact <a href="mailto:ads@japaninc.com">ads@japaninc.com</a>.<br><br>SUBSCRIBE<br>Get Terrie's Take by giving your name and email address at<br><a href="http://www.japaninc.com/newsletters/free_sign_up">http://www.japaninc.com/newsletters/free_sign_up</a>, or go<br>
straight to Mailman at:<br><a href="http://mailman.japaninc.com/mailman/listinfo/terrie">http://mailman.japaninc.com/mailman/listinfo/terrie</a><br><br>BACK ISSUES<br><a href="http://www.japaninc.com/terries_take">http://www.japaninc.com/terries_take</a><br>
or, <a href="http://mailman.japaninc.com/pipermail/terrie/">http://mailman.japaninc.com/pipermail/terrie/</a><br><br>Copyright 2010 Japan Inc. Communications Inc.<br><br>----------------- Japan Inc opens up Japan ----------------<br>
<br>J@pan Inc is Japan's only independently published English-<br>language business website. Authoritatively chronicling <br>online the business trends in Japan, each posting brings <br>you in-depth analysis of business, people and technology in<br>
the world's second largest economy. <br><br>Visit <a href="http://www.japaninc.com">www.japaninc.com</a> for the best business insight on<br>Japan available.<br>-----------------------------------------------------------<br>
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