Coverage
Coverage Universe.
Ninety-three Japanese consumer-economy listings, organised across nine industries and twenty-two sub-industries. The publication cycle is staggered: one sub-industry is already covered in depth, the remainder enter the cycle over the coming quarters.
The coverage universe is built around Japanese listings whose share-price dynamics are governed by consumer-economy variables — either domestic household demand or the international projection of iconic Japan consumer brands.
Retail.
Segment structured by store formats — drugstores, department stores, mass and discount, electronics specialty, apparel SPA — and by volume, traffic, or brand-led strategies.
Beauty specialists, hybrid food-pharmacy models, and regional operators.
3088MatsukiyoCocokara· 3141Welcia· 3391Tsuruha· 3349Cosmos Pharmaceutical· 7649Sugi Holdings· 9989Sundrug· 3549Kusuri No Aoki
Urban players exposed to tourism, luxury, and domestic or inbound premium flows.
3099Isetan Mitsukoshi· 8233Takashimaya· 3086J. Front Retailing· 8242H2O Retailing
Mass retail, proximity formats, and discount concepts driven by volume or traffic.
3382Seven & i Holdings· 8267Aeon· 7532Pan Pacific International· 3038Kobe Bussan
Big-box retailers exposed to consumer electronics, services mix, and tourist traffic.
9831Yamada Holdings· 2730Edion· 8282K's Holdings· 3048Bic Camera
Vertically integrated apparel and lifestyle retailers, from global champion to Japan-suburban volume.
9983Fast Retailing· 8227Shimamura· 2726Pal Group· 7453Ryohin Keikaku
Food & Beverage.
Coverage of food and beverage producers, organised by product families.
Players across packaged goods, animal proteins, frozen food, dairy, and bakery.
2269Meiji Holdings· 2201Morinaga & Co· 2264Morinaga Milk Industry· 2282NH Foods· 1332Nissui· 2871Nichirei· 2212Yamazaki Baking
Groups exposed to staples, home cooking, and high-frequency categories.
2802Ajinomoto· 2801Kikkoman· 2809Kewpie· 2897Nissin Foods· 2875Toyo Suisan
Bottlers in soft drinks and brewers in alcoholic beverages.
2587Suntory Beverage & Food· 2579Coca-Cola Bottlers Japan· 2503Kirin Holdings· 2502Asahi Group
Beauty & OTC.
Segment split across prestige cosmetics, mass-market personal care, and OTC health.
Houses exposed to prestige cosmetics, travel retail, and brand desirability.
4911Shiseido· 4922Kose· 4927Pola Orbis
Players in everyday care, hygiene, and consumer health products.
4452Kao· 4527Rohto Pharmaceutical· 4967Kobayashi Pharmaceutical· 8113Unicharm· 4912Lion Corp· 4917Mandom
Foodservice.
Restaurant chains operating across different ticket sizes, usage frequencies, and customer segments.
Operators exposed to domestic traffic, average ticket, and price-volume dynamics.
7550Zensho· 3197Skylark· 3397Toridoll· 7581Saizeriya· 3563Food & Life Companies
Leisure & Hospitality.
Discretionary experience operators — theme parks, family entertainment, hospitality, and resorts.
Experiences, theme parks, hospitality, and membership-based service consumption.
4661Oriental Land· 4680Round One· 4681Resorttrust· 9616Kyoritsu Maintenance
IP & Entertainment.
Coverage of Japanese IP monetisation across video games, animation, films, and physical licensing.
Platforms, proprietary franchises, content ecosystems, and digital monetisation.
9697Capcom· 7974Nintendo· 3635Koei Tecmo· 3659Nexon· 6758Sony Group· 9684Square Enix· 9766Konami
Studios, audiovisual rights, licensing, and cross-media exploitation.
4816Toei Animation· 9602Toho· 9468Kadokawa
Tangible franchise monetisation through toys, figurines, licences, and character goods.
8136Sanrio· 7832Bandai Namco· 7867Tomy
Apparel, Footwear & Accessories.
Performance brands, sports equipment, multi-brand distribution, and watchmaking.
Exposure to active, outdoor, performance, and technical apparel categories.
7936Asics· 8111Goldwin
Specialty manufacturers in cycling components and racket sports.
7309Shimano· 7906Yonex
Multi-brand retailers in footwear and apparel specialty.
2670ABC-Mart· 7606United Arrows
Brands exposed to watchmaking, technical accessories, and consumer electronics niches.
6952Casio· 8050Seiko Group· 7762Citizen Watch
Online Marketplaces.
Intermediation, e-commerce, and marketplace models connecting sellers and buyers.
Digital platforms exposed to e-commerce, resale, and online product discovery.
4385Mercari· 4755Rakuten· 3092Zozo
Autos & Mobility.
OEMs and tire manufacturers, included on the iconic-Japan consumer-brand dimension. Industrial pure-play suppliers without brand-consumer exposure are excluded.
Global models, hybrid leaders, regional platforms, and export profiles.
7203Toyota· 7267Honda· 7201Nissan· 7270Subaru· 7261Mazda· 7211Mitsubishi Motors· 7202Isuzu
Players exposed to the replacement market, OEM channels, and global mobility cycles.
5108Bridgestone· 5110Sumitomo Rubber· 5101Yokohama Rubber· 5105Toyo Tire
| Code | Sub-industry | Ticker | Company | Status |
|---|---|---|---|---|
| 01a | Drugstores & Pharmacies | 3088 | MatsukiyoCocokara | Initiation pending |
| 01a | Drugstores & Pharmacies | 3141 | Welcia | Initiation pending |
| 01a | Drugstores & Pharmacies | 3391 | Tsuruha | Initiation pending |
| 01a | Drugstores & Pharmacies | 3349 | Cosmos Pharmaceutical | Initiation pending |
| 01a | Drugstores & Pharmacies | 7649 | Sugi Holdings | Initiation pending |
| 01a | Drugstores & Pharmacies | 9989 | Sundrug | Initiation pending |
| 01a | Drugstores & Pharmacies | 3549 | Kusuri No Aoki | Initiation pending |
| 01b | Department Stores | 3099 | Isetan Mitsukoshi | Initiation pending |
| 01b | Department Stores | 8233 | Takashimaya | Initiation pending |
| 01b | Department Stores | 3086 | J. Front Retailing | Initiation pending |
| 01b | Department Stores | 8242 | H2O Retailing | Initiation pending |
| 01c | GMS, Convenience & Discount | 3382 | Seven & i Holdings | Initiation pending |
| 01c | GMS, Convenience & Discount | 8267 | Aeon | Initiation pending |
| 01c | GMS, Convenience & Discount | 7532 | Pan Pacific International | Initiation pending |
| 01c | GMS, Convenience & Discount | 3038 | Kobe Bussan | Initiation pending |
| 01d | Consumer Electronics Specialty | 9831 | Yamada Holdings | Initiation pending |
| 01d | Consumer Electronics Specialty | 2730 | Edion | Initiation pending |
| 01d | Consumer Electronics Specialty | 8282 | K's Holdings | Initiation pending |
| 01d | Consumer Electronics Specialty | 3048 | Bic Camera | Initiation pending |
| 01e | Mass-Market Apparel & Lifestyle SPA | 9983 | Fast Retailing | Initiation pending |
| 01e | Mass-Market Apparel & Lifestyle SPA | 8227 | Shimamura | Initiation pending |
| 01e | Mass-Market Apparel & Lifestyle SPA | 2726 | Pal Group | Initiation pending |
| 01e | Mass-Market Apparel & Lifestyle SPA | 7453 | Ryohin Keikaku | Initiation pending |
| 02a | Packaged Foods — Proteins, Dairy & Staples | 2269 | Meiji Holdings | Initiation pending |
| 02a | Packaged Foods — Proteins, Dairy & Staples | 2201 | Morinaga & Co | Initiation pending |
| 02a | Packaged Foods — Proteins, Dairy & Staples | 2264 | Morinaga Milk Industry | Initiation pending |
| 02a | Packaged Foods — Proteins, Dairy & Staples | 2282 | NH Foods | Initiation pending |
| 02a | Packaged Foods — Proteins, Dairy & Staples | 1332 | Nissui | Initiation pending |
| 02a | Packaged Foods — Proteins, Dairy & Staples | 2871 | Nichirei | Initiation pending |
| 02a | Packaged Foods — Proteins, Dairy & Staples | 2212 | Yamazaki Baking | Initiation pending |
| 02b | Condiments, Sauces & Noodles | 2802 | Ajinomoto | Initiation pending |
| 02b | Condiments, Sauces & Noodles | 2801 | Kikkoman | Initiation pending |
| 02b | Condiments, Sauces & Noodles | 2809 | Kewpie | Initiation pending |
| 02b | Condiments, Sauces & Noodles | 2897 | Nissin Foods | Initiation pending |
| 02b | Condiments, Sauces & Noodles | 2875 | Toyo Suisan | Initiation pending |
| 02c | Beverages & Alcoholic Drinks | 2587 | Suntory Beverage & Food | Initiation pending |
| 02c | Beverages & Alcoholic Drinks | 2579 | Coca-Cola Bottlers Japan | Initiation pending |
| 02c | Beverages & Alcoholic Drinks | 2503 | Kirin Holdings | Initiation pending |
| 02c | Beverages & Alcoholic Drinks | 2502 | Asahi Group | Initiation pending |
| 03a | Prestige Beauty | 4911 | Shiseido | Initiation pending |
| 03a | Prestige Beauty | 4922 | Kose | Initiation pending |
| 03a | Prestige Beauty | 4927 | Pola Orbis | Initiation pending |
| 03b | Personal Care & OTC Health | 4452 | Kao | Initiation pending |
| 03b | Personal Care & OTC Health | 4527 | Rohto Pharmaceutical | Initiation pending |
| 03b | Personal Care & OTC Health | 4967 | Kobayashi Pharmaceutical | Initiation pending |
| 03b | Personal Care & OTC Health | 8113 | Unicharm | Initiation pending |
| 03b | Personal Care & OTC Health | 4912 | Lion Corp | Initiation pending |
| 03b | Personal Care & OTC Health | 4917 | Mandom | Initiation pending |
| 04a | Quick-Service & Family Dining | 7550 | Zensho | Covered |
| 04a | Quick-Service & Family Dining | 3197 | Skylark | Covered |
| 04a | Quick-Service & Family Dining | 3397 | Toridoll | Covered |
| 04a | Quick-Service & Family Dining | 7581 | Saizeriya | Covered |
| 04a | Quick-Service & Family Dining | 3563 | Food & Life Companies | Covered |
| 05a | Leisure, Hospitality & Parks | 4661 | Oriental Land | Initiation pending |
| 05a | Leisure, Hospitality & Parks | 4680 | Round One | Initiation pending |
| 05a | Leisure, Hospitality & Parks | 4681 | Resorttrust | Initiation pending |
| 05a | Leisure, Hospitality & Parks | 9616 | Kyoritsu Maintenance | Initiation pending |
| 06a | Game Publishers & Consoles | 9697 | Capcom | Initiation pending |
| 06a | Game Publishers & Consoles | 7974 | Nintendo | Initiation pending |
| 06a | Game Publishers & Consoles | 3635 | Koei Tecmo | Initiation pending |
| 06a | Game Publishers & Consoles | 3659 | Nexon | Initiation pending |
| 06a | Game Publishers & Consoles | 6758 | Sony Group | Initiation pending |
| 06a | Game Publishers & Consoles | 9684 | Square Enix | Initiation pending |
| 06a | Game Publishers & Consoles | 9766 | Konami | Initiation pending |
| 06b | Animation, Films & Transmedia | 4816 | Toei Animation | Initiation pending |
| 06b | Animation, Films & Transmedia | 9602 | Toho | Initiation pending |
| 06b | Animation, Films & Transmedia | 9468 | Kadokawa | Initiation pending |
| 06c | Physical Licensing & Toys | 8136 | Sanrio | Initiation pending |
| 06c | Physical Licensing & Toys | 7832 | Bandai Namco | Initiation pending |
| 06c | Physical Licensing & Toys | 7867 | Tomy | Initiation pending |
| 07a | Performance Apparel & Footwear Brands | 7936 | Asics | Initiation pending |
| 07a | Performance Apparel & Footwear Brands | 8111 | Goldwin | Initiation pending |
| 07b | Sports Equipment | 7309 | Shimano | Initiation pending |
| 07b | Sports Equipment | 7906 | Yonex | Initiation pending |
| 07c | Footwear Distribution & Multi-brand | 2670 | ABC-Mart | Initiation pending |
| 07c | Footwear Distribution & Multi-brand | 7606 | United Arrows | Initiation pending |
| 07d | Watches & Accessories | 6952 | Casio | Initiation pending |
| 07d | Watches & Accessories | 8050 | Seiko Group | Initiation pending |
| 07d | Watches & Accessories | 7762 | Citizen Watch | Initiation pending |
| 08a | B2C, C2C & Online Fashion | 4385 | Mercari | Initiation pending |
| 08a | B2C, C2C & Online Fashion | 4755 | Rakuten | Initiation pending |
| 08a | B2C, C2C & Online Fashion | 3092 | Zozo | Initiation pending |
| 09a | Manufacturers / OEMs | 7203 | Toyota | Initiation pending |
| 09a | Manufacturers / OEMs | 7267 | Honda | Initiation pending |
| 09a | Manufacturers / OEMs | 7201 | Nissan | Initiation pending |
| 09a | Manufacturers / OEMs | 7270 | Subaru | Initiation pending |
| 09a | Manufacturers / OEMs | 7261 | Mazda | Initiation pending |
| 09a | Manufacturers / OEMs | 7211 | Mitsubishi Motors | Initiation pending |
| 09a | Manufacturers / OEMs | 7202 | Isuzu | Initiation pending |
| 09b | Tires | 5108 | Bridgestone | Initiation pending |
| 09b | Tires | 5110 | Sumitomo Rubber | Initiation pending |
| 09b | Tires | 5101 | Yokohama Rubber | Initiation pending |
| 09b | Tires | 5105 | Toyo Tire | Initiation pending |
The coverage universe is reviewed and adjusted periodically as new companies enter the consumer-economy thesis, others fall outside it, or new sub-industries emerge. A company is included when its share-price dynamics are governed by Japanese household demand or by the international projection of an iconic Japan consumer brand, regardless of GICS classification.