Singapore’s retail landscape could be seeing another round of changes, with five Japan Home outlets having closed their doors and several other branches reportedly being considered for conversion into Valu$ stores.
The development was reported by The Business Times (BT), which found that Japan Home stores across Singapore were either shuttered, undergoing stocktaking or increasingly carrying Valu$ merchandise. The situation has sparked questions about whether some familiar retail brands are changing their business models as operating costs and competition in the local shopping sector remain challenging.
According to Japan Home’s Facebook page, closing-down sales were announced for outlets at Hougang Mall, Century Square, Northpoint City, HarbourFront Centre and Buangkok Square between June and July. However, the changes may not mean that every Japan Home location is disappearing permanently.
Some Japan Home outlets could become Valu$ stores
When BT visited nine Japan Home outlets on Aug. 18, three were already shuttered while six were reportedly closed for stocktaking. The closed outlets included Century Square in Tampines Central, Waterway Point and People’s Park Centre.
BT also observed significant quantities of Valu$ merchandise at some locations, while Valu$ staff were reportedly helping to clear shelves at the Waterway Point outlet.
At Bedok Mall, staff reportedly said Japan Home and Valu$ were jointly owned, with Valu$ products already occupying shelves. Staff at Westgate similarly told BT that Valu$ products had been arriving at the outlet since Aug. 12.
Some Japan Home employees also reportedly said that the Bedok and Woodlands outlets were operating jointly with Valu$, with additional stores potentially being converted.
The ownership structure is somewhat complicated. According to corporate records cited by BT, DD Private Ltd operates Valu$, while Radha Japan holds about a 30 per cent stake in Japan Home. Radha Japan also owns businesses including ACE Fresh and hardware retailer Mr Fix.
Japan Home facing financial pressure
The developments come as Japan Home faces a difficult financial period. The retailer, which first expanded from Hong Kong into Singapore in 1999, reportedly recorded losses after tax of S$2.3 million for the financial year ended April 2025.
That represented more than a doubling from the S$858,596 loss recorded a year earlier. Revenue had also declined from S$53.7 million in FY2023 to S$51.7 million in FY2024, while profits had been falling for three consecutive years before the company moved deeper into losses.
Japan Home’s website lists 34 retail outlets in Singapore in 2026, meaning the latest closures and possible conversions could represent a significant reshaping of its local footprint.
The brand has nevertheless remained a familiar name for Singapore shoppers looking for household goods, kitchenware, storage products, stationery and other everyday items.
Daiso has also been closing outlets
Japan Home is not the only Japanese-linked retailer to have experienced a series of outlet changes in Singapore.
Daiso has also been closing and relocating stores across the island. In 2026 alone, the Japanese discount retailer closed its 100AM outlet in Tanjong Pagar in January and its Sembawang Shopping Centre branch in April. Its Tampines 1 outlet subsequently closed after 14 years, although the store was set to relocate to nearby Century Square.
More recently, Daiso announced the closure of its Kallang Wave Mall outlet on Aug. 16 as the shopping centre undergoes a major revamp. The retailer said a new outlet would open in September, suggesting that some of its closures are relocations rather than a complete withdrawal from particular areas.
The situation at 100AM was particularly notable because Daiso’s closure came shortly after MUJI had also shut its outlet at the same mall in November 2025.
Japanese lifestyle retailers adjusting their footprints
Other Japanese lifestyle retailers have also reduced their Singapore presence in recent years.
Hands, formerly known as Tokyu Hands, closed its Jewel Changi Airport outlet in March 2025. The closure left the retailer with three Singapore locations at Orchard Central, Suntec City and Great World City, down from its earlier network of six outlets.
These closures do not necessarily mean that Japanese retail brands are leaving Singapore altogether. In several cases, stores are being relocated, replaced, converted or consolidated as retailers reassess individual locations.
For Japan Home, however, the reported appearance of Valu$ merchandise inside multiple outlets could mark a more substantial change. Whether more stores will eventually operate under the Valu$ name remains unclear, and Japan Home had not responded to previous enquiries at the time of reporting.
For shoppers, the bigger question may be whether Singapore’s familiar neighbourhood retail stores will increasingly be replaced by lower-cost or value-focused concepts as retailers look for ways to remain viable in a competitive market.