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Equity Analyst, LightStream Research

Supun Walpola

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.

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/cyberagent-inc" target="_blank" data-smartkarma-citation="entities:8197:1" rel="noopener">CyberAgent Inc (4751 JP)</a> has already achieved 89%-102% of its full-year OP guidance of JPY28bn-32bn. In absolute terms, CyberAgent’s OP needs to be only JPY4bn in 4Q FY09/20 to reach the higher-end of the full-year OP guidance. In this note, we examine the possibility of CyberAgent beating its OP guidance, based on Google Play app rankings for CyberAgent’s hit game titles and ABEMA (TV).</p>
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<div style="text-align: left;" class="content-caption"><em>Source: Company Disclosures</em></div>

CyberAgent Inc (4751 JP) has already achieved 89%-102% of its full-year OP guidance of JPY28bn-32bn. In absolute terms, CyberAgent’s OP needs to be only JPY4bn in 4Q FY09/20 to reach the higher-end of the full-year OP guidance. In this note, we examine the possibility of CyberAgent beating its OP guidance, based on Google Play app rankings for CyberAgent’s hit game titles and ABEMA (TV).

Source: Company Disclosures

CyberAgent [Alt Data]: Expect C.15% Full-Year OP Guidance Beat but Is Currently Overbought