Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

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.

Equity Bottom-Up

<ul>
<li>We have been pushing Square Enix on the basis that its Final Fantasy XIV MMO was seeing surging popularity. </li>
<li>With the release of its Endwalker expansion on the 9th that popularity took another leg up. </li>
<li>So much so that Square Enix is being forced to suspend sales to avoid overcrowding servers.</li>
</ul>


We have been pushing Square Enix on the basis that its Final Fantasy XIV MMO was seeing surging popularity. 
With the release of its Endwalker expansion on the 9th that popularity took another leg up. 
So much so that Square Enix is being forced to suspend sales to avoid overcrowding servers.


Square Enix – Endwalker So Popular Sales Are Suspended

<ul>
<li>Square Enix’s MMO expansion, Endwalker, released on Dec 7 and has driven a surge in the player base. </li>
<li>Meanwhile, the release date for Forspoken was just confirmed as 24 May 2022 and Marvel’s Guardians of the Galaxy is winning awards. </li>
<li>We expect momentum to pick up and a big upgrade.</li>
</ul>


Square Enix’s MMO expansion, Endwalker, released on Dec 7 and has driven a surge in the player base. 
Meanwhile, the release date for Forspoken was just confirmed as 24 May 2022 and Marvel’s Guardians of the Galaxy is winning awards. 
We expect momentum to pick up and a big upgrade.


Square Enix – The Endwalker Has Forspoken

Square Enix’s 2Q results were on the weak side as HD games and games for smart devices were weak. This stopped Square Enix from generating the beat on strong MMO performance that we expected but the future outlook remains highly promising.

Square Enix’s 2Q results were on the weak side as HD games and games for smart devices were weak. This stopped Square Enix from generating the beat on strong MMO performance that we expected but the future outlook remains highly promising.

Square Enix – Waiting on HD Games to Really Get Going

In the middle of July we noted that Square Enix was benefitting from increased streamer interest in FFXIV at the expense of World of Warcraft. This has continued and stands to benefit Square Enix significantly but this impact does not appear to be priced in yet.

In the middle of July we noted that Square Enix was benefitting from increased streamer interest in FFXIV at the expense of World of Warcraft. This has continued and stands to benefit Square Enix significantly but this impact does not appear to be priced in yet.

Square Enix – The Market STILL Has Not Priced in the FFXIV Boom

Overnight Sony held a PlayStation Showcase event which surprised to the upside in terms of the number and quality of titles on display. It further cemented Sony’s commitment to rolling out its own games on PC and the strategic implications for its first party studios also look intriguing.

Overnight Sony held a PlayStation Showcase event which surprised to the upside in terms of the number and quality of titles on display. It further cemented Sony’s commitment to rolling out its own games on PC and the strategic implications for its first party studios also look intriguing.

Conviction Call Sony – PlayStation Showcase Underlines Strength of Pipeline

Japan

SQUARE ENIX HOLDINGS CO., LTD. develops and sells entertainment software for home video game consoles including Dragon Quest and Final Fantasy series. The Company also publishes books such as informational guide books for its game software, and comic magazines and books.  Additionally, Square Enix sells character goods and stationery items from its software products.

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

Square Enix Holdings (9684 JP)

Square Enix – Endwalker So Popular Sales Are Suspended

We have been pushing Square Enix on the basis that its Final Fantasy XIV MMO was seeing surging popularity. So much so that Square Enix is being...

Mio Kato

Square Enix – The Endwalker Has Forspoken

Square Enix’s MMO expansion, Endwalker, released on Dec 7 and has driven a surge in the player base which we expect to drive earnings momentum and...

Mio Kato

Square Enix – Waiting on HD Games to Really Get Going

Square Enix’s 2Q results were on the weak side as HD games and games for smart devices were weak but strong MMO performance came through and the...

Mio Kato

Square Enix – The Market STILL Has Not Priced in the FFXIV Boom

In the middle of July we noted that Square Enix was benefitting from increased streamer interest in FFXIV at the expense of World of Warcraft. This...

Mio Kato

Conviction Call Sony – PlayStation Showcase Underlines Strength of Pipeline

Sony's PlayStation Showcase surprised to the upside in terms of the number and quality of titles on display and the strategic implications for its...

Mio Kato

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)