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

FANCL: Lowers FY21 Guidance Amidst Rising COVID Cases, Still Outperforming Peers

FANCL: Conservative Guidance Could Form an Opening on The Long Side

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/fancl-corp" target="_blank" data-smartkarma-citation="entities:15862:1" rel="noopener">Fancl Corp (4921 JP)</a> delivered 2QFY22 results yesterday, which saw revenue and operating profit decrease 3.1% and 11.2% YoY respectively to ¥24.7bn (consensus ¥26.6bn) and ¥2.2bn (consensus ¥2.6bn). The domestic demand in 2HFY22 is expected to increase following the reopening of the Japanese economy. However, Fancl has provided extremely conservative FY22 guidance which could potentially give rise to a significant earnings beat in the second half of the years.</p>

Fancl Corp (4921 JP) delivered 2QFY22 results yesterday, which saw revenue and operating profit decrease 3.1% and 11.2% YoY respectively to ¥24.7bn (consensus ¥26.6bn) and ¥2.2bn (consensus ¥2.6bn). The domestic demand in 2HFY22 is expected to increase following the reopening of the Japanese economy. However, Fancl has provided extremely conservative FY22 guidance which could potentially give rise to a significant earnings beat in the second half of the years.

Fancl Corp

FANCL: Downplaying Earnings Potential