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

Fast Retailing: Trying to Pass Benefits of Cost Cutting to Customers

Fast Retailing: Expensive but the Fundamentals for Long-Term Strong

SHEIN: The Fastest Growing E-Commerce Company in the World & Ready to Overtake Zara in 2022?

Quantifying BOJ Change in ETF Policy: Affecting Single Stocks

Fast Retailing: Upbeat Consensus Unlikely to Be Met in 2QFY21

Gravity Works As WeWork Doesn't; Now Plan B

Quantifying the BOJ Change in ETF Policy: Assessing Future ETF Buying Methodology

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

<a href="https://www.smartkarma.com/entities/fast-retailing-co-ltd" target="_blank" data-smartkarma-citation="entities:751:1" rel="noopener">Fast Retailing (9983 JP)</a> shares have dropped 13.6% since the BOJ announced changes to the way ETF buying was conducted on 19th March 2021 and 23.6% from all time high on 25th February 2021.Even so, the company is still valued at 26.2x FY+2 EV/EBIT compared to its past three-year average of 20.7x and 41.3x FY+2 PER compared to compared to the three-year average of 34.1x.We believe that there is still considerable downside risks to Fast Retailing’s share price and would not rush into this dip at this moment.

Fast Retailing (9983 JP) shares have dropped 13.6% since the BOJ announced changes to the way ETF buying was conducted on 19th March 2021 and 23.6% from all time high on 25th February 2021.Even so, the company is still valued at 26.2x FY+2 EV/EBIT compared to its past three-year average of 20.7x and 41.3x FY+2 PER compared to compared to the three-year average of 34.1x.We believe that there is still considerable downside risks to Fast Retailing’s share price and would not rush into this dip at this moment.

Down 24% From February Peak, But Still Has a Long Way to Go Before The Longs Get Back On Board