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

Grocery Outlet Holding Corp IPO: Deep Discount Store at a Not So Deep Discounted Price

FamilyMart Bought Some PPIH. Will Buy More PPIH.

FamilyMart Offers to Increase Its Stake in Donki: Success or Failure Will Depend on the Premium

Pan Pacific International: UNY Acquisition the Bright Spot as SSS and Inbound Decelerate

Pan Pacific/Don Quijote: Bringing Joy into Shopping

Raising Don Quijote's FVE on the Upside to Lift Profitability of Uny’s Retail Business

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

Pan Pacific International Holdings / Equity Bottom-Up

Pan Pacific International Holdings (7532 JP)

<p>Pan Pacific International Holdings Corporation reported its 3QFY2019 results on 8<sup>th</sup> May 2019, Pan Pacific’s first results release post-acquisition of more than 180 UNY stores from FamilyMart UNY Holdings.  The company managed to grow its revenues by 68.8% YoY in 3QFY2019 mainly through this acquisition of FamilyMart’s UNY stores. Operating profit was also up by 50.9% YoY during the same time period, However, the operating margin declined by about 48bps YoY in 3QFY2019 due to the lower margin nature of the acquired UNY stores.</p>

Pan Pacific International Holdings Corporation reported its 3QFY2019 results on 8th May 2019, Pan Pacific’s first results release post-acquisition of more than 180 UNY stores from FamilyMart UNY Holdings.  The company managed to grow its revenues by 68.8% YoY in 3QFY2019 mainly through this acquisition of FamilyMart’s UNY stores. Operating profit was also up by 50.9% YoY during the same time period, However, the operating margin declined by about 48bps YoY in 3QFY2019 due to the lower margin nature of the acquired UNY stores.

Don Quijote: 3QFY2019 Results, Revenue Falls Short While OP Exceeds Consensus Estimates