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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

<ul>
<li>GRANBLUE FANTASY seems to have recovered partially from its lean period last quarter. However, its grossing ranking is still down #6 positions YoY and is likely to put pressure on CyberAgent’s Game business’ revenue in 2Q FY09/20.</li>
<li>None of the other titles, except for PRINCESS CONNECT! Re:Dive, show any improvement in their grossing or download rankings YoY.</li>
<li>AbemaTV’s 2Q FY09/20 Google Play rankings suggest that there are unlikely to be any major surprises in 2Q FY09/20 results. </li>
<li>The impact of COVID-19 on AbemaTV is likely to be felt from the next quarter. </li>
</ul>


GRANBLUE FANTASY seems to have recovered partially from its lean period last quarter. However, its grossing ranking is still down #6 positions YoY and is likely to put pressure on CyberAgent’s Game business’ revenue in 2Q FY09/20.
None of the other titles, except for PRINCESS CONNECT! Re:Dive, show any improvement in their grossing or download rankings YoY.
AbemaTV’s 2Q FY09/20 Google Play rankings suggest that there are unlikely to be any major surprises in 2Q FY09/20 results. 
The impact of COVID-19 on AbemaTV is likely to be felt from the next quarter. 


CyberAgent [Alternative Data]: Google Play Rankings of AbemaTV and Hit Game Titles for 2Q FY09/20

CyberAgent Inc

CyberAgent [Alternative Data]: Google Play Rankings of AbemaTV and Hit Game Titles for 2Q FY09/20