Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Activist Investor Requests Seven & I to Focus on 7-Eleven Convenience Store Business

2021 High Conviction Call: Seven & I Completes the Speedway Acquisition, But Not Without Trouble

2021 High Conviction Update: Seven & I Has More Room (Perhaps, Another 50%) To the Upside

EV/OP Descends to A New Low: An Opportunity to Gas Up Seven & I on the Back of Speedway Acquisition

Seven & I Holdings: OP Beats Could Continue into 4QFY21

2021 High Conviction - Seven & I Holdings: The March for America

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

Our 2021 High Conviction call, <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a> has climbed 26.5%, compared to the Topix index growth of 11.6% and <a href="https://www.smartkarma.com/entities/lawson-inc" target="_blank" data-smartkarma-citation="entities:1040:1" rel="noopener">Lawson Inc (2651 JP)</a>’s 8.4%, since we published our 2021 high conviction call, <a href="https://www.smartkarma.com/insights/2021-high-conviction-seven-i-holdings-the-march-for-america" target="_blank" rel="noopener">2021 High Conviction - Seven &amp; I Holdings: The March for America</a> on 26th November 2020.Even though we published our 2021 high conviction call as a part of the annual Smartkarma conviction call initiative in November 2020, we first made this call on 3rd August 2020, when Seven &amp; I’s share price fell to a 7-year low of ¥3,052 per share following the Speedway Acquisition. <a href="https://www.smartkarma.com/insights/seven-i-acquires-speedway-for-21-billion-expensive-but-necessary-acquisition" target="_blank" rel="noopener">Seven &amp; I Acquires Speedway for $21 Billion: Expensive but Necessary Acquisition</a>Since then, Seven &amp; I shares rose 44.7% compared to the Topix index growth of 21.2%.Even though it appears that the short-term mispricing is mostly corrected, we believe there is more upside potential through correction of consensus earnings estimates, consolidation of the US convenience store market and from synergies through the Speedway Acquisition.As Seven &amp; I prepares to release 4QFY21 results on 8th April 2021, we update our high conviction call and discuss what could be a good entry points to prospective Seven &amp; I investors.

Our 2021 High Conviction call, Seven &amp; I Holdings (3382 JP) has climbed 26.5%, compared to the Topix index growth of 11.6% and Lawson Inc (2651 JP)’s 8.4%, since we published our 2021 high conviction call, 2021 High Conviction - Seven &amp; I Holdings: The March for America on 26th November 2020.Even though we published our 2021 high conviction call as a part of the annual Smartkarma conviction call initiative in November 2020, we first made this call on 3rd August 2020, when Seven &amp; I’s share price fell to a 7-year low of ¥3,052 per share following the Speedway Acquisition. Seven &amp; I Acquires Speedway for $21 Billion: Expensive but Necessary AcquisitionSince then, Seven &amp; I shares rose 44.7% compared to the Topix index growth of 21.2%.Even though it appears that the short-term mispricing is mostly corrected, we believe there is more upside potential through correction of consensus earnings estimates, consolidation of the US convenience store market and from synergies through the Speedway Acquisition.As Seven &amp; I prepares to release 4QFY21 results on 8th April 2021, we update our high conviction call and discuss what could be a good entry points to prospective Seven &amp; I investors.

2021 High Conviction Update: 34% More Upside Short-Term Is Not Impossible