'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

Former Japan Equity PM with over 30 of experience now providing database-driven analysis of the market, sectors, peer groups and stocks for LightStream Research.

Leveraging data and graphic analysis provided by Japan Analytics, and the related Japan Analytics iPad App, we provide insights on companies are often ignored by the sell-side as well as challenging conventional wisdom on the market overall.

'Quantamental' Japan Specialist

🇯🇵 JAPAN • Results & Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​02/​​​​​​​​​​​​​​02 - Aisin, MonotaRO

Rohm (6963): Big Upward Revision, Significant Upside Potential Remains

🇯🇵 JAPAN • Results & Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​02/​​​​​​​​​​​​​​​03 Hirose, Eisai..

🇯🇵 JAPAN • Results & Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​01/​​​​​​​​​​​​28 JPX, TEL, Fancl...

🇯🇵 JAPAN • Market + Results & Revisions Update 01/29

Rohm (6963): Weak 2Q Before Long-Term Recovery

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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.

Thematic (Sector/Industry)

Japan Industrials / Thematic (Sector/Industry)

<div><p style="text-align: center;"><strong>• RESULTS &amp; REVISIONS SUMMARY - 1st FEBRUARY •</strong></p></div><div><p>Of Monday's 76 results announcements, 79% scored positively for earnings momentum despite trailing revenues falling by 5.2% on average and a 2.6 percentage point decline in operating margins. 11% of companies were in the red for the quarter.  65% of the 48 annual forecasts/revision announcements scored positively and the average Forecast/Revision score was +2.6 points.</p></div><p style="text-align: center;"><strong>• BEST &amp; WORST •</strong></p><p style="text-align: left;">Monday's best and worst large-cap pairing is <a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM (6963 JP)</a> and <a href="https://www.smartkarma.com/entities/shionogi-co-ltd" target="_blank" data-smartkarma-citation="entities:19535:1" rel="noopener">Shionogi (4507 JP)</a>. We would also note the declining momentum at <a href="https://www.smartkarma.com/entities/lasertec-corp" target="_blank" data-smartkarma-citation="entities:4126:1" rel="noopener">Lasertec (6920 JP)</a> and <a href="https://www.smartkarma.com/entities/nintendo-co-ltd" target="_blank" data-smartkarma-citation="entities:5415:1" rel="noopener">Nintendo (7974 JP)</a>.</p><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/186/154/original/2021-02-02_05-32-51.png?1612211584" class="editor-image img-responsive" data-smartkarma-image-id="186154"></figure></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/186/155/original/2021-02-02_05-33-53.png?1612211646" class="editor-image img-responsive" data-smartkarma-image-id="186155"></figure></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/186/156/original/2021-02-02_05-34-39.png?1612211691" class="editor-image img-responsive" data-smartkarma-image-id="186156"></figure></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/186/157/original/2021-02-02_05-35-09.png?1612211734" class="editor-image img-responsive" data-smartkarma-image-id="186157"></figure></section><div class="content-caption">    Source for all charts &amp; tables: Japan Analytics</div>

• RESULTS &amp; REVISIONS SUMMARY - 1st FEBRUARY •Of Monday's 76 results announcements, 79% scored positively for earnings momentum despite trailing revenues falling by 5.2% on average and a 2.6 percentage point decline in operating margins. 11% of companies were in the red for the quarter.  65% of the 48 annual forecasts/revision announcements scored positively and the average Forecast/Revision score was +2.6 points.• BEST &amp; WORST •Monday's best and worst large-cap pairing is ROHM (6963 JP) and Shionogi (4507 JP). We would also note the declining momentum at Lasertec (6920 JP) and Nintendo (7974 JP).    Source for all charts &amp; tables: Japan Analytics

🇯🇵 JAPAN • Results & Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​02/​​​​​​​​​​​​​01 - Rohm, Shionogi..

🇯🇵 JAPAN • Results & Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​02/​​​​​​​​​​​​​01 - Rohm, Shionogi..

🇯🇵 JAPAN • Results & Revisions 02/01 - Rohm, Shionogi..