Japan Home shuts nine stores as Valu$ takes over Singapore outlets

SINGAPORE, 22 AUGUST 2026 —

Japan Home has closed at least nine of its 34 Singapore stores since June, with staff at remaining outlets wearing Valu$ uniforms and shelves stocked with both houseware brands.

The closures accelerated last month when Japan Home announced shutdown sales at five malls—Hougang Mall, Century Square, Northpoint City, HarbourFront Centre and Buangkok Square—on its Facebook page. On Aug 18, The Business Times found three more Japan Home stores already closed and several others closed for “stocktaking.” At the Bedok Mall outlet, shelves carried Valu$ items next to Japan Home products, and staff at the Waterway Point store wore Valu$ T-shirts.

Japan Home confirmed on Aug 20 that it has licensed its remaining Singapore stores to Radha Exports under a three-year deal that started on Aug 19 and is renewable for another three years.

Radha Exports already held about 30% of Japan Home Singapore, according to ACRA filings, while the remaining stake belonged to Japan Home Centre (Management) Ltd, the Hong Kong-based parent. Radha Exports also operates ACE Fresh and Mr Fix hardware stores, and Valu$ was founded by Radha Exports in 2005.

Japan Home’s financial performance has weakened in recent years. Revenue fell to S$51.7 million in the year ended Apr 30, 2024 from S$53.7 million the prior year, then turned to losses. For the year ended Apr 30, 2025, losses after tax from continuing operations almost tripled to S$2.3 million from S$858,596.

Customers face immediate changes. Japan Home’s loyalty programme, JFUN & Gold Membership, was terminated on Jul 21, 2026, and existing members had until Aug 18 to redeem points. The group’s online e-shop has been taken down for maintenance, removing digital purchasing options.

The shift mirrors a similar pattern in Hong Kong, where Japan Home’s parent warned in July 2025 of a 51% to 57% drop in annual profit compared with the prior year’s HK$100 million. The group blamed weak consumer sentiment, changing buying habits and competition from mainland Chinese e-commerce platforms, which have cut revenue by 5.6% year on year.

Japan Home’s value proposition was once price and convenience: affordable housewares near home. That model worked for years, but the rise of platforms such as Taobao, Pinduoduo and Shein has eroded its edge. Physical stores bear high rents, staff costs and logistics, while online platforms can source directly from Chinese factories and deliver to Singapore doors at much lower prices.

Related: Singapore