Japan Home's 34 Singapore stores are being absorbed by a dollar-store chain

Japan Home operated 34 outlets across Singapore selling Japanese household goods, snacks and stationery — positioned between dollar stores and premium Japanese importers. Profits had declined for three consecutive years by FY2024, with revenue falling from S$53.7 million to S$51.7 million.

In FY2025 (year ended April 30, 2025), the net loss more than doubled to S$2.3 million, up from S$858,596 in FY2024. The membership loyalty programme was terminated on July 21, 2026, with all points expiring on August 18 — a move that typically signals a business preparing for structural change rather than recovery.

From June 2026, at least five outlets began closing-down sales — Hougang Mall, Century Square, Northpoint City, HarbourFront Centre and Buangkok Square — while three more were found shuttered. Staff attributed the closures to a 'change of management'.

On August 19, 2026, Radha Exports — the FMCG company behind the Valu$ dollar-store chain — signed a three-year licensing deal (renewable for another three) to operate Japan Home's remaining Singapore stores. Valu$ staff were observed managing Japan Home outlets and stocking Valu$ products, effectively converting the mid-market Japanese variety chain into a dollar-store operation.

Licensed all 34 remaining stores to Valu$ on a three-year deal, converting the mid-market format into a dollar-store operation.

Japan Home occupied a mid-market niche — more expensive than Valu$ and Daiso, less curated than premium Japanese importers — that both sides were squeezing shut.

Three consecutive years of declining profit went unaddressed; by the time losses doubled in FY2025, the chain's bargaining position had collapsed.

The 30% stake held by Radha Japan created a ready buyer who could absorb the stores at a discount — a built-in exit that made selling easier than fixing the format.

A mid-market retailer squeezed between dollar stores and premium rivals loses positioning before revenue — Japan Home's three-year profit decline ended with Valu$ licensing all remaining stores.

As of August 2026, Radha Exports operates Japan Home's remaining stores under a three-year renewable licence. Five or more outlets have closed, with some expected to reopen as joint Valu$-managed stores. The JFUN loyalty programme was terminated and all points expired on August 18, 2026.