Monday, April 21, 2014

Japan's government pension fund has $1.34 trillion assets under management

Japanese currency coins Copyright Peter Hanami 2014
Picture: Japanese currency, coins




¨Japan's government pension investment fund...Y124 trillion ($1.34 trillion) in assets...projected payouts to pensioners this year of about Y 5 trillion



Source: Japan's pension fund rejects Abe push to buy up shares
By Ben McLannahan
Financial Times
Australian Financial Review
Tuesday 18th February 2014, page 25

Wednesday, April 16, 2014

Australia gets its first Uniqlo store today in Melbourne, official opening by founder Tadashi Yanai Japan's richest man




Video: The opening of Uniqlo's first Australian store in Melbourne, Wednesday 16th April 2014

Source: Japanesecustomer.com YouTube Channel


At 7am this morning in Melbourne, Australia security guards lined Lonsdale street in front of Australia's newest and largest fashion retail space the Emporium Building and questioned morning pedestrians on their way to work as they passed the new shopping centre to be officially opened today with Australia's first Uniqlo store. Dogged with industrial action during its long construction and delayed start date, today it finally opened! 

The air was still cool, the moon still in the sky and the sun slow to rise in the CBD. A buzz was in the air as many people on the street knew about the store and stopped to take photos as they walked past. Staff manning a pop-up coffee stall bounced around to keep warm as they set up, many staff lined the street in front of the store getting ready for the official launch at 9.50am for the official tape cutting by the founder Tadashi Yanai, Japan's richest man with an estimated wealth of AUS $18.2billion.

The crowd slowly built up during the early morning and by the time the tape cut came at 9.50am , Lonsdale street was full of customers lining up waiting to enter the store at 10am. 

Japanese customer service is based on many principles such as omotenashi (hospitality) and kikubari (anticipating customer needs). 

This was in full swing even before customers entered the store with, polite staff keeping those who waited in line, warm with drinks such as freshly brewed coffee. Japanese customer service is the benchmark of Asia, amazing to watch but impossible to replicate or match so far by western companies.

Inside the four storey store, many colourful displays for men, women and children were on display. The store was overstaffed with customer service staff just as in a typical Japanese store, a very good sign for Melbourne shoppers.

Uniqlo is renowned for high quality with low prices and ongoing new products and promotions. Customers are typically spoilt once inside the store. You enter the changing rooms and can get alterations done on the spot if you decide to buy pants in most cases. If a store does not stock an item advertised they will track the item down for you at another store and notify you when it is in stock.

In my experience with Uniqlo in Japan over the past ten years their customer service is world class.

For example

I once bought a business shirt in Tokyo and on returning home found a button hole was not properly sewn. I called the store, spoke to staff and within 2 hours a member of staff, had personally come out to my house and brought a replacement shirt. Yes, WOW! So if this is any indication of what to expect, you will be pleasantly surprised by their customer service.



Picture: Uniqlo logo


Check out some of the products to look for when you visit

Our range of Uniqlo product review videos

Video: 

 Uniqlo Product Review 

Mens 240 gram down jacket ユニクロ




Video: 

Product Review Uniqlo Fleece 
















Press today announcing today's launch

"Ranked the world's 35th richest person and Japan's richest man at $18.2 billion, Mr (Tadashi) Yanai has ambitious plans for his low-cost casual wear store, a household name in Asia, to revolutionise the Australian fashion market" page 1

"He admits that labour costs and rent in Australia are high and would make it difficult for the company to keep their trademark low prices. "Labour costs and import duty is very high" page 1

"A pop-up Uniqlo store has been operating in Melbourne since January meters away from the Lonsdale street, 2180 square metre, four storey shop" page 8

" Uniqlo is a wholly owned subsidiary of listed Japanese company Fast Retailing and has more than 1200 stores in 14 countries" page 8

Source: Japanese giant Uniqlo uses Australia roadmap
By Patrick Durkin and Lucille Keen
Australian Financial Review
Wed 16th April, 2014



"High profile Japanese retailer Uniqlo is set to open its first Sydney store, taking space at Lend Lease's Mid City Complex at the premier retail strip Pitt Street Mall"


Source: Uniqlo signs for Sydney space
By Mercedes Ruehl
Australian Financial Review
Wed 16th April, 2014, page 37


"You have 20 million population in this marketplace, and we aim for one store per 200,000 people, so 100 stores will be just enough to cover it" Tadashi Yanai "I'm hopeful that 50 more stores could be built in three years, so if that is doable, I'd be very happy" p19

"Uniqlo is also set to launch a new website today specifically for Australian customers who previously were unable to buy Uniqlo's products from the chains international operations" p19

Source: 
The Australian Newspaper
Wed 16th April, 2014

Video: Mark Hawthorne from the AGE newspaper interviews Tadashi Yanai 





Monday, April 14, 2014