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

Long Fancl/Short Kose: Kose’s Q2 Results As Expected, Now Waiting For Fancl to Come Through

Japanese Cosmetics Pair Trade Opportunities As Japan Prepares to Declare a State of Emergency

Kose: China and E-Commerce Propels Kose’s Performance Towards the Pre-Pandemic Level

KOSÉ 3QFY20 Alternative Data Earnings Preview: Asia’s Rapid Deceleration Could Cause Panic

Japan Cosmetics Pair Trade: Long Kose/​Short Shiseido

KOSÉ 1QFY21 Earnings Preview: China Recovery Overlooked

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.

Event-Driven

<p>In <a href="https://www.smartkarma.com/insights/japan-cosmetics-pair-trade-long-kose-short-shiseido" target="_blank" rel="noopener">Japan Cosmetics Pair Trade: Long Kose/​​Short Shiseido</a>, we suggested that <a href="https://www.smartkarma.com/entities/kose-corp" target="_blank" data-smartkarma-citation="entities:18009:1" rel="noopener">Kose Corp (4922 JP)</a> could outperform <a href="https://www.smartkarma.com/entities/shiseido-company-limited" target="_blank" data-smartkarma-citation="entities:5718:1" rel="noopener">Shiseido Company (4911 JP)</a> and the rest of the Japanese cosmetics peers. Since then, Kose’s share price increased by 20.2%, while Shiseido’s price decreased by 2.3%.</p>
<p>As the earnings season approaches, we suggest that investors consider closing the Long Kose/Short Shiseido trade and reversing the same, but this time with <a href="https://www.smartkarma.com/entities/fancl-corp" target="_blank" data-smartkarma-citation="entities:15862:1" rel="noopener">Fancl Corp (4921 JP)</a> as the hedge.</p>

In Japan Cosmetics Pair Trade: Long Kose/​​Short Shiseido, we suggested that Kose Corp (4922 JP) could outperform Shiseido Company (4911 JP) and the rest of the Japanese cosmetics peers. Since then, Kose’s share price increased by 20.2%, while Shiseido’s price decreased by 2.3%.
As the earnings season approaches, we suggest that investors consider closing the Long Kose/Short Shiseido trade and reversing the same, but this time with Fancl Corp (4921 JP) as the hedge.

Japan Cosmetics Pair Trade: Long Fancl/Short Kose