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 – Downside Risk Mounts as Xinjiang Cotton Controversy Takes Centre Stage Yet Again

Fast Retailing – FY23 Guidance Could Knock Some Sense into Market

Fast Retailing – The New Medium-Term Plan For Europe Is As Ambitious As The North America Plan

Fast Retailing: New Growth Pillar May Not Be Strong Enough to Support the Weight of Valuation

Fast Retailing: Guidance Upgraded, Yet The Upside Seems Limited Due to Stretched Valuations

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>
<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>  has rallied 60% during the last three-months on better-than-expected Q3 performance and a relatively strong bounce in Topix exceeding the upper-end of the trend-channel by 3%.</li>
<li>Although 20% below the all-time high, reached during the COVID pandemic, the Fast Retailing to Topix  ratio is currently near the pre-COVID peak and starting to show some resistance.</li>
<li>We would look to short Fast Retailing  with expectations of weakness in overseas markets such as North America and Europe in addition to the already struggling Chinese market.</li>
</ul>



Fast Retailing (9983 JP)  has rallied 60% during the last three-months on better-than-expected Q3 performance and a relatively strong bounce in Topix exceeding the upper-end of the trend-channel by 3%.
Although 20% below the all-time high, reached during the COVID pandemic, the Fast Retailing to Topix  ratio is currently near the pre-COVID peak and starting to show some resistance.
We would look to short Fast Retailing  with expectations of weakness in overseas markets such as North America and Europe in addition to the already struggling Chinese market.


Fast Retailing: The Fast Retailing to Topix Ratio Hitting Resistance Near The Pre-COVID Peak