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

Alternative Data: Fast Retailing’s E-Commerce Growth Suggests Limited Downside

Fast Retailing: Lowered Guidance Still Unrealistic

Fast Retailing: Longs Should Consider Taking Profits, Shorts Should Wait

2Q20 Earnings Preview: Data Analytics Point to a 28% Decline in China Revenues Due to COVID-19

GU's Path to Renewed Expansion to Boost Fast Retailing at Home and Overseas

Fast Retailing: What Is a Good Entry Point Amidst COVID-19 Risks?

What Do You Buy if the Softbank Mega-Buyback Drives a Nikkei Squeeze?

Japan Long Weekend Portfolio Blowout Theme Is Working Quickly

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>2QFY20 was a challenging quarter for Japan’s largest apparel retailer Uniqlo. The company warned investors that the worst is yet to come as they revised FY20 revenue guidance from ¥2,340bn to ¥2,090bn and OP guidance from ¥245bn to ¥145bn. Also, <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> revised its DPS guidance. Initially, the company had planned to increase its interim dividend by ¥10 to ¥250 per share, in the 2QFY20 earnings release, the company said that they will maintain the dividend at the previous year’s level.</p>

2QFY20 was a challenging quarter for Japan’s largest apparel retailer Uniqlo. The company warned investors that the worst is yet to come as they revised FY20 revenue guidance from ¥2,340bn to ¥2,090bn and OP guidance from ¥245bn to ¥145bn. Also, Fast Retailing (9983 JP) revised its DPS guidance. Initially, the company had planned to increase its interim dividend by ¥10 to ¥250 per share, in the 2QFY20 earnings release, the company said that they will maintain the dividend at the previous year’s level.

Fast Retailing 2QFY20 Results: Revised Revenue Guidance Is More a Bull Scenario