UTokyo Economic Consulting (UTEcon) Launches “Nikkei-UTEcon Consumables Market Forecast”

TOKYO, November 8, 2021 — UTokyo Economic Consulting Inc. (UTEcon), a leading academic consulting firm in Japan based on academic knowledge in economics, accounting, business administration, and related fields, announced today that it has launched a new service “Nikkei-UTEcon Consumables Market Forecast,” utilizing The Nikkei POS, which is provided by Nikkei Inc. (Nikkei).

Nikkei POS is Nikkei’s point-of-sales database service collected from supermarkets, convenience stores, and drugstores in Japan. Over 2.9 million consumable items as food and beverage, liquors, daily goods from 38 thousand manufacturers are covered. Nikkei POS collects over 1 billion receipts or 2 trillion Japanese Yen annually.

UTEcon, established by the University of Tokyo in August, 2020, has a wealth of experiences and know-hows in the field of econometric machine learning methods. UTEcon has developed Nikkei-UTEcon Consumables Market Forecast, which has following characteristics:

1. 217 Consumable Categories Covered
Store sales per 1 thousand purchasing customers and year-over-year growth rate are forecasted for each of 217 categories in 36 consumable genres.

2. High Prediction Accuracy
Annual average error is less than 15% for around 70% categories.

3. Monthly Update, 6-month Forecast
The report is updated every month. The report forecast monthly store sales of specific category per 1 thousand purchasing customers as well as year-over-year growth rate, up to 6 months ahead.

4. Forecast by Manufacturer and Region
Top 3 manufacturers in each category and 10 regions (Hokkaido, Tohoku, outer Kanto, capital area, Hokuriku, Tokai, Kinki, Chugoku, Shikoku, and Kyushu/Okinawa) are also forecasted separately.

5. Flexible Purchase Format
Annual subscription of whole categories, annual subscription for one category, and one-time order for one category are available.

“We have conducted R&D together to increase the values of Nikkei’s database assets. I am pleased that today we see the launch of Nikkei-UTEcon Consumables Market Forecast,” said Hiroyuki Watanabe, Senior Managing Director of Nikkei.
Yos Kawaharata, CEO of UTEcon said, “We aims to promote societal implementation of research results in economics and related fields. I hope Nikkei-UTEcon Consumables Market Forecast helps more customers to further utilize our academic expertise.”

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About UTEcon
UTEcon was founded in August 2020 with close ties with the Graduate School of Economics, the University of Tokyo. UTEcon provides wide range of economic consulting services as demand forecasting and pricing, policy evaluation, machine-learning based prediction of bankruptcy and accounting fraud, market design, antitrust-related analysis, nowcasting, and quantitative and behavioral marketing.

Company name: UTokyo Economic Consulting Inc.
CEO: Yos Kawaharata
Establishment: August, 2020
Headquarter: Rm. 922 Int’l Academic Research Bldg., 7-3-1 Hongo, Bunkyo-ku, Tokyo, 113-0033, JAPAN

About Nikkei
Nikkei is a world-renowned media brand for Asian news, respected for quality journalism and for being a trusted provider of business news and information. Founded as a market news provider in Japan in 1876, Nikkei has grown into one of the world’s largest media corporations, with 37 foreign editorial bureaus and approximately 1,500 journalists worldwide. Nikkei acquired the Financial Times in 2015.

Company name: Nikkei Inc.
President & CEO: Tsuyoshi Hasebe
Establishment: December, 1876
Headquarter: 1-3-7, Otemachi, Chiyoda-ku, Tokyo, 100-8066, JAPAN

Contact for Media
PR Team, UTokyo Economic Consulting Inc.


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