'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/146/859/original/2020-07-20_05-45-19.png?1595191529" class="editor-image img-responsive" data-smartkarma-image-id="146859"></figure><div class="content-caption">Source • Japan Analytics</div><p><strong><a href="https://www.smartkarma.com/entities/pasona-group-inc" target="_blank" data-smartkarma-citation="entities:15778:1" rel="noopener">Pasona (2168 JP)</a></strong>- Pasona was the largest capitalisation company to report on Friday. At the end of June, the company warned on impairment losses at the full-year ended in May 2020. The outcome was a write-off of ¥2.7 billion, resulting in a 63% decline in Comprehensive Income to Common (CITC) to ¥676 million. In the<strong> DETAIL </strong>below, we review the operating performance and valuation of this 'activist trap'.</p><hr><p style="text-align: center;"><strong>DAILY STATS</strong></p><hr><div><p style="text-align: center;"><strong>4 Quarterly Results</strong></p></div><div><ul>
<li>
<strong>Results Score:</strong> 2 Positive / 0 Neutral / 2 Negative</li>
<li>
<strong>Average Results Score Change:</strong> +2.3</li>
<li>
<strong>Average % Change in Revenue</strong>: -20% Quarter YoY / -12.9% Rolling TTM YoY</li>
<li>
<strong>Average Operating Profit Margin Change:</strong> -0.1ppt</li>
<li>
<strong>Percentage Making Quarterly Losses:</strong> 50%</li>
</ul></div><hr><div><p style="text-align: center;"><br><strong>5 Annual • 4 Interim Forecasts/Revisions</strong></p></div><div><ul>
<li>
<strong>Annual Forecast/Revision Score:</strong> 1 Positive / 0 Neutral / 4 Negative</li>
<li>
<strong>Interim Forecast/Revision Score Change:</strong> 1 Positive / 0 Neutral / 3 Negative</li>
<li>
<strong>Average Forecast/Revision Score Change:</strong> -10.0</li>
</ul></div>

Source • Japan AnalyticsPasona (2168 JP)- Pasona was the largest capitalisation company to report on Friday. At the end of June, the company warned on impairment losses at the full-year ended in May 2020. The outcome was a write-off of ¥2.7 billion, resulting in a 63% decline in Comprehensive Income to Common (CITC) to ¥676 million. In the DETAIL below, we review the operating performance and valuation of this 'activist trap'.DAILY STATS4 Quarterly Results

Results Score: 2 Positive / 0 Neutral / 2 Negative

Average Results Score Change: +2.3

Average % Change in Revenue: -20% Quarter YoY / -12.9% Rolling TTM YoY

Average Operating Profit Margin Change: -0.1ppt

Percentage Making Quarterly Losses: 50%
 5 Annual • 4 Interim Forecasts/Revisions

Annual Forecast/Revision Score: 1 Positive / 0 Neutral / 4 Negative

Interim Forecast/Revision Score Change: 1 Positive / 0 Neutral / 3 Negative

Average Forecast/Revision Score Change: -10.0


🇯🇵 JAPAN • Results & Revisions 17th July -

Japan

GENDAI AGENCY INC. mainly provides advertising services for pachinko (Japanese pinball) parlors.  The Company supports marketing strategies of the clients such as sales promotion and advertisements through media.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Gendai Agency (2411 JP)

🇯🇵 JAPAN • Results & Revisions 17th July -

Pasona (2168 JP)- Pasona was the largest capitalisation company to report on Friday. At the end of June, the company warned on impairment losses at...

Campbell Gunn

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)