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

Calbee – Price Hikes to Deliver Upside As Buybacks Provide Downside Protection

Calbee’s FY24 OP Is Bound to Exceed ¥30.0bn

Calbee: New CEO Seems Ready To Make Necessary Action

Calbee Inc: Falling Average Price Per Unit Causes Concern Among Investors

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>Japan’s largest snacks maker, <a href="https://www.smartkarma.com/entities/calbee-inc" target="_blank" data-smartkarma-citation="entities:17054:1" rel="noopener">Calbee Inc (2229 JP)</a> is raising prices by 10-20% for almost 75% of its product range.</li>
<li>These price hikes have boded well with institutional investors with a vast most of them deciding to up their stake in the company following the first price hike announcement.</li>
<li>While institutional-investors bet on earnings growth over long-term through regular price revisions, we think there could also be short and medium-term gains as OP growth turns positive after many years.</li>
</ul>


Japan’s largest snacks maker, Calbee Inc (2229 JP) is raising prices by 10-20% for almost 75% of its product range.
These price hikes have boded well with institutional investors with a vast most of them deciding to up their stake in the company following the first price hike announcement.
While institutional-investors bet on earnings growth over long-term through regular price revisions, we think there could also be short and medium-term gains as OP growth turns positive after many years.


Calbee – Price Hikes Are Appealing to Institutional Investors