Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

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)

<p>Below is the list of Japan/Korea-related posts put on the Smartkarma platform during the week of 03<sup>rd</sup> June 2019.</p>
<table class="table table-striped">
<tbody>
<tr>
<td>
<h2>Insight</h2>
</td>
<td>
<h2>Insight Provider</h2>
</td>
<td>
<h2>Published</h2>
</td>
</tr>
<tr>
<td>
<h2>Japan</h2>
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/jpy-macro-support-break-will-add-to-global-risk-pressures" target="_blank">JPY Macro Support Break Will Add to Global Risk Pressures</a></td>
<td><a href="https://www.smartkarma.com/profiles/thomas-schroeder" target="_blank">Thomas Schroeder</a></td>
<td>03/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/nexon-sale-main-bidding-round-summary" target="_blank">Nexon Sale: Main Bidding Round Summary</a></td>
<td><a href="https://www.smartkarma.com/profiles/sanghyun-park" target="_blank">Sanghyun Park</a></td>
<td>03/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/cocokara-fine-cocokara" target="_blank">Cocokara Fine は Cocokara いいね*</a></td>
<td><a href="https://www.smartkarma.com/profiles/travis-lundy" target="_blank">Travis Lundy</a></td>
<td>04/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/japan-5g-government-will-promote-use-of-public-infrastructure-to-speed-deployment" target="_blank">Japan 5G: Government Will Promote Use of Public Infrastructure to Speed Deployment</a></td>
<td><a href="https://www.smartkarma.com/profiles/kirk-boodry" target="_blank">Kirk Boodry</a></td>
<td>04/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/seven-i-holdings-better-late-than-never" target="_blank">Seven &amp; I Holdings: Better Late than Never</a></td>
<td><a href="https://www.smartkarma.com/profiles/oshadhi-kumarasiri" target="_blank">Oshadhi Kumarasiri</a></td>
<td>05/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/int-l-human-resources-employment-services-stocks-are-bottoming-add-exposure" target="_blank">Int’l Human Resources &amp; Employment Services Stocks Are Bottoming -- Add Exposure</a></td>
<td><a href="https://www.smartkarma.com/profiles/joe-jasper" target="_blank">Joe Jasper</a></td>
<td>05/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/softbank-group-upcoming-us-doj-ruling-on-sprint-merger-is-a-13bn-question-for-shareholders" target="_blank">Softbank Group: Upcoming US DoJ Ruling on Sprint Merger Is a $13bn Question for Shareholders</a></td>
<td><a href="https://www.smartkarma.com/profiles/kirk-boodry" target="_blank">Kirk Boodry</a></td>
<td>05/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/sony-plans-salary-hikes-in-order-to-attract-tech-talent-for-ai" target="_blank">Sony Plans Salary Hikes in Order to Attract Tech Talent for AI</a></td>
<td><a href="https://www.smartkarma.com/profiles/farha-sabri" target="_blank">Farha Sabri</a></td>
<td>05/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/chiyoda-mozambique-order-win-follows-first-lng-shipment-at-cameron" target="_blank">Chiyoda: Mozambique Order Win Follows First LNG Shipment at Cameron</a></td>
<td><a href="https://www.smartkarma.com/profiles/mio-kato-cfa" target="_blank">Mio Kato, CFA</a></td>
<td>05/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/tokyo-base-on-track-again" target="_blank">Tokyo Base on Track Again?</a></td>
<td><a href="https://www.smartkarma.com/profiles/michael-causton" target="_blank">Michael Causton</a></td>
<td>06/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/sansan-ipo-business-cards-to-build-connections-we-see-good-potential" target="_blank">Sansan IPO: Business Cards to Build Connections; We See Good Potential</a></td>
<td><a href="https://www.smartkarma.com/profiles/shifara-samsudeen-acma-cgma" target="_blank">Shifara Samsudeen, ACMA, CGMA</a></td>
<td>06/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/nissan-fca-pulls-out-as-nissan-demurs-and-renault-vacillates" target="_blank">Nissan: FCA Pulls Out as Nissan Demurs and Renault Vacillates</a></td>
<td><a href="https://www.smartkarma.com/profiles/mio-kato-cfa" target="_blank">Mio Kato, CFA</a></td>
<td>06/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/subaru-joint-bev-development-with-toyota-matters-toyota-s-case-strategy-becoming-clearer" target="_blank">Subaru: Joint BEV Development with Toyota Matters; Toyota's CASE Strategy Becoming Clearer</a></td>
<td><a href="https://www.smartkarma.com/profiles/mio-kato-cfa" target="_blank">Mio Kato, CFA</a></td>
<td>06/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/hitachi-s-hidden-gem-out-of-the-bag" target="_blank">Hitachi’s Hidden Gem Out Of The Bag</a></td>
<td><a href="https://www.smartkarma.com/profiles/david-rubenstein" target="_blank">David Rubenstein</a></td>
<td>06/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/japan-consumption-trends-lots-of-savings-for-good-brands-and-retailers-to-tap-into" target="_blank">Japan Consumption Trends: Lots of Savings for Good Brands and Retailers to Tap Into</a></td>
<td><a href="https://www.smartkarma.com/profiles/michael-causton" target="_blank">Michael Causton</a></td>
<td>06/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/horiba-6856-jp-downward-revision-ahead" target="_blank">Horiba (6856 JP): Downward Revision Ahead</a></td>
<td><a href="https://www.smartkarma.com/profiles/scott-foster" target="_blank">Scott Foster</a></td>
<td>07/06/19</td>
</tr>
<tr>
<td>
<h2>Korea</h2>
</td>
<td> </td>
<td> </td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/segyung-hitech-ipo-preview-explosive-growth-in-sales-profits" target="_blank">Segyung Hitech IPO Preview - Explosive Growth in Sales &amp; Profits</a></td>
<td><a href="https://www.smartkarma.com/profiles/douglas-kim" target="_blank">Douglas Kim</a></td>
<td>04/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/samsung-electronics-share-class-trade-1p-is-overbought-relative-to-c" target="_blank">Samsung Electronics Share Class Trade: 1P Is Overbought Relative to C</a></td>
<td><a href="https://www.smartkarma.com/profiles/sanghyun-park" target="_blank">Sanghyun Park</a></td>
<td>05/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/kb-asset-management-goes-activist-on-sm-entertainment" target="_blank">KB Asset Management Goes "Activist" On SM Entertainment</a></td>
<td><a href="https://www.smartkarma.com/profiles/douglas-kim" target="_blank">Douglas Kim</a></td>
<td>06/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/korean-won-asia-s-worst-performer-in-2019" target="_blank">Korean Won - Asia's Worst Performer In 2019</a></td>
<td><a href="https://www.smartkarma.com/profiles/sharmila-whelan" target="_blank">Sharmila Whelan</a></td>
<td>06/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/korean-telcos-5g-capex-ramp-will-put-more-pressure-on-already-sub-par-returns" target="_blank">Korean Telcos: 5G Capex Ramp Will Put More Pressure on Already Sub Par Returns</a></td>
<td><a href="https://www.smartkarma.com/profiles/new-street-research-insights" target="_blank">New Street Research Insights</a></td>
<td>06/06/19</td>
</tr>
<tr>
<td><a href="https://www.smartkarma.com/insights/samsung-electronics-partners-with-amd-to-reduce-its-reliance-on-qualcomm-for-gpus" target="_blank">Samsung Electronics Partners with AMD to Reduce Its Reliance on Qualcomm for GPUs</a></td>
<td><a href="https://www.smartkarma.com/profiles/shifara-samsudeen-acma-cgma" target="_blank">Shifara Samsudeen, ACMA, CGMA</a></td>
<td>08/06/19</td>
</tr>
</tbody>
</table>

Below is the list of Japan/Korea-related posts put on the Smartkarma platform during the week of 03rd June 2019.




Insight


Insight Provider


Published




Japan

 
 


JPY Macro Support Break Will Add to Global Risk Pressures
Thomas Schroeder
03/06/19


Nexon Sale: Main Bidding Round Summary
Sanghyun Park
03/06/19


Cocokara Fine は Cocokara いいね*
Travis Lundy
04/06/19


Japan 5G: Government Will Promote Use of Public Infrastructure to Speed Deployment
Kirk Boodry
04/06/19


Seven &amp; I Holdings: Better Late than Never
Oshadhi Kumarasiri
05/06/19


Int’l Human Resources &amp; Employment Services Stocks Are Bottoming -- Add Exposure
Joe Jasper
05/06/19


Softbank Group: Upcoming US DoJ Ruling on Sprint Merger Is a $13bn Question for Shareholders
Kirk Boodry
05/06/19


Sony Plans Salary Hikes in Order to Attract Tech Talent for AI
Farha Sabri
05/06/19


Chiyoda: Mozambique Order Win Follows First LNG Shipment at Cameron
Mio Kato, CFA
05/06/19


Tokyo Base on Track Again?
Michael Causton
06/06/19


Sansan IPO: Business Cards to Build Connections; We See Good Potential
Shifara Samsudeen, ACMA, CGMA
06/06/19


Nissan: FCA Pulls Out as Nissan Demurs and Renault Vacillates
Mio Kato, CFA
06/06/19


Subaru: Joint BEV Development with Toyota Matters; Toyota's CASE Strategy Becoming Clearer
Mio Kato, CFA
06/06/19


Hitachi’s Hidden Gem Out Of The Bag
David Rubenstein
06/06/19


Japan Consumption Trends: Lots of Savings for Good Brands and Retailers to Tap Into
Michael Causton
06/06/19


Horiba (6856 JP): Downward Revision Ahead
Scott Foster
07/06/19



Korea

 
 


Segyung Hitech IPO Preview - Explosive Growth in Sales &amp; Profits
Douglas Kim
04/06/19


Samsung Electronics Share Class Trade: 1P Is Overbought Relative to C
Sanghyun Park
05/06/19


KB Asset Management Goes "Activist" On SM Entertainment
Douglas Kim
06/06/19


Korean Won - Asia's Worst Performer In 2019
Sharmila Whelan
06/06/19


Korean Telcos: 5G Capex Ramp Will Put More Pressure on Already Sub Par Returns
New Street Research Insights
06/06/19


Samsung Electronics Partners with AMD to Reduce Its Reliance on Qualcomm for GPUs
Shifara Samsudeen, ACMA, CGMA
08/06/19




Smartkarma’s Week that Was in JP/​​​​​​​​KR: Nexon, Subaru, Segyung Hitech and Samsung Electronics

Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/sansan-inc/overview" target="_blank">Sansan Inc.</a> offers business card digitisation services to customers in Japan, the US, Singapore and other Southeast Asian markets. It aims to help businesses bring business intelligence to companies through a system which helps build connections between users, and both internal employees and external contacts using business cards. Sansan is planning on listing its shares on the TSE Mothers Market on 19<sup>th</sup> June 2019. The company has set its IPO price in the range of JPY4,000-4,500 per share, which implies a valuation of JPY120-135bn.</p><p>We expect the company’s core business, “Sansan” to continue its growth trajectory driven by double-digit growth in contracts coupled with continued increases in average revenue per contract. As Sansan continues to introduce new services alongside its existing offering for corporate customers, we expect this to help grow top line. Moreover, Sansan’s effort to monetise its freemium based offering, “Eight” through premium services will likely boost the company’s revenues further. The company is still not making any profits although the operating losses have significantly reduced during the first-nine months of the current fiscal year. We expect the company to start generating positive returns in the near future which would likely warrant a further upside to its trading price.</p><p>That being said, investors should be wary of the key risks faced by the company such as over dependence on business cards, risks associated with handling of personal data and the domestic and international laws and regulations applicable to Sansan in its core markets, which could likely impact Sansan’s future performance.</p>

Sansan Inc. offers business card digitisation services to customers in Japan, the US, Singapore and other Southeast Asian markets. It aims to help businesses bring business intelligence to companies through a system which helps build connections between users, and both internal employees and external contacts using business cards. Sansan is planning on listing its shares on the TSE Mothers Market on 19th June 2019. The company has set its IPO price in the range of JPY4,000-4,500 per share, which implies a valuation of JPY120-135bn.We expect the company’s core business, “Sansan” to continue its growth trajectory driven by double-digit growth in contracts coupled with continued increases in average revenue per contract. As Sansan continues to introduce new services alongside its existing offering for corporate customers, we expect this to help grow top line. Moreover, Sansan’s effort to monetise its freemium based offering, “Eight” through premium services will likely boost the company’s revenues further. The company is still not making any profits although the operating losses have significantly reduced during the first-nine months of the current fiscal year. We expect the company to start generating positive returns in the near future which would likely warrant a further upside to its trading price.That being said, investors should be wary of the key risks faced by the company such as over dependence on business cards, risks associated with handling of personal data and the domestic and international laws and regulations applicable to Sansan in its core markets, which could likely impact Sansan’s future performance.

Sansan IPO: Business Cards to Build Connections; We See Good Potential

Japan

Sansan, Inc. provides mobile application software solutions. The Company offers business card management service by scanning the cards from scanner and smartphone. Sansan provides its services throughout Japan.

Price Gauge
52-week Range	0.00 - 0.00
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P/E	0.00
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Sansan Inc (4443 JP)

Smartkarma’s Week that Was in JP/KR: Nexon, Subaru, Segyung Hitech and Samsung Electronics

Below is the list of Japan/Korea-related posts put on the Smartkarma platform during the week of 03rd June 2019.

Shifara Samsudeen, ACMA, CGMA

Sansan IPO: Business Cards to Build Connections; We See Good Potential

Sansan Inc. offers business card digitisation services to customers in Japan, the US, Singapore and other Southeast Asian markets. It aims to help...

Shifara Samsudeen, ACMA, CGMA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Smartkarma’s Week that Was in JP/​​​​​​​​KR: Nexon, Subaru, Segyung Hitech and Samsung Electronics

Below is the list of Japan/Korea-related posts put on the Smartkarma platform during the week of 03rd June 2019.

Shifara Samsudeen, ACMA, CGMA

Sansan IPO: Business Cards to Build Connections; We See Good Potential

Sansan Inc. offers business card digitisation services to customers in Japan, the US, Singapore and other Southeast Asian markets. It aims to help...

Shifara Samsudeen, ACMA, CGMA

Smartkarma’s Week that Was in JP/KR: Nexon, Subaru, Segyung Hitech and Samsung Electronics