Shrugging off inflation, consumption linked to oshikatsu — activities that support one's oshi, such as a favorite celebrity, local mascot or anime character — is growing in Japan, while boosting related stocks.

According to research company Intage, 35.1% of the 5,000 people surveyed said they support certain characters or celebrities, and this proportion was higher among younger respondents.

Rina Oshimo, a senior strategist at Okasan Securities, said that oshikatsu-linked consumption has increased as video streaming and social media have grown in popularity and people have spent more time at home amid the COVID-19 pandemic since 2020.