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

Thoughts on Amazon –What Does Its Valuation Tells Us?

Netflix & Amazon Expand in Korea – Not a Coincidence

Okja: The Fight Between Netflix Vs. CJ CGV

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/fast-retailing-co-ltd" target="_blank" data-smartkarma-citation="entities:751:1" rel="noopener">Fast Retailing (9983 JP)</a> was not having the best of times even before COVID as the Hong Kong protests and the South Korea boycott affected the company’s financial performance resulting in three consecutive quarters of year-on-year revenue and OP declines.</p><p>Even so, the company is adored by most investors and consistently commands valuation multiples as high as 32x FY+2 PE and 20x FY+2 EBIT. <a target="_blank">After losing more than 40% of its value during the COVID-19 sell-off, the shares have rebounded to their pre COVID level, and currently trade at ¥64,870 per share which is just 7% lower than the all-time high (July 2019).</a></p>

Fast Retailing (9983 JP) was not having the best of times even before COVID as the Hong Kong protests and the South Korea boycott affected the company’s financial performance resulting in three consecutive quarters of year-on-year revenue and OP declines.Even so, the company is adored by most investors and consistently commands valuation multiples as high as 32x FY+2 PE and 20x FY+2 EBIT. After losing more than 40% of its value during the COVID-19 sell-off, the shares have rebounded to their pre COVID level, and currently trade at ¥64,870 per share which is just 7% lower than the all-time high (July 2019).

Fast Retailing

Fast Retailing: Hold or Sell Dilemma