Poking The Convenience Giants – Welcia Holdings (TYO: 3141)

Thinking Points

  • Major drug store operator Welcia (TYO: 3141)  is becoming Japan’s neighborhood pharmacy.
  • In doing so, the company directly competes with the convenience industry.
  • Welcia maintains a strong position against the giants in convenience, thanks to Aeon’s (TYO: 8267) backing.
  • With its 18x EV/EBIT price tag and many moving parts, Welcia does not present a compelling investment opportunity.
  • Investors ought to look at pharmacy and drug store related industries for opportunities.

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Quick Idea: Japan’s Blue Apron Making Moves To Corner The Market – Oisix Daichi (TYO: 3182)

Thinking Points

  • Oisix Daichi (TYO: 3182) holds a 30% share in a highly niche-y organic vegetable delivery industry in Japan.
  • The company is the result of a recent merger between Oisix and Daichi, the #2 and #3 players in the organic vegetable delivery industry.
  • With large companies entering the market, competitive pressures are on the rise. The CEO, however, thinks this is a good thing.

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