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: Strong Performance in China & Korea, But Valuation Could Weigh on Price Performance

Fast Retailing: Inflated Earnings Expectations & Stretched Multiples, A Cause for Concern

Fast Retailing: Growth Markets Look Weak & Uniqlo Japan Profitability Affected By Rising Wages

Fast Retailing: Japan Demand Not Enough to Warrant an Upside, Downside Risks Looming on The Horizon

Gravity Works As WeWork Doesn't; Now Plan B

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

<ul>
<li>Japan's strong domestic demand and a rebound in China fuel optimistic growth outlook for <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> in the short term.</li>
<li>Furthermore, the markets such as Europe, North America, South East Asia, India, and Australia present promising long-term growth opportunities.</li>
<li>However, Fast Retailing's valuation is a cause for concern as it currently trades at a consensus FY27 OP of 20.0x.</li>
</ul>


Japan's strong domestic demand and a rebound in China fuel optimistic growth outlook for Fast Retailing (9983 JP) in the short term.
Furthermore, the markets such as Europe, North America, South East Asia, India, and Australia present promising long-term growth opportunities.
However, Fast Retailing's valuation is a cause for concern as it currently trades at a consensus FY27 OP of 20.0x.


Fast Retailing: Opportunities for Long-Term Growth Overshadowed by High Valuation