Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

JX Advanced Metals IPO Valuation Analysis

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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 Capital Markets

JX Advanced Metals / Equity Capital Markets

<ul>
<li>JX Advance Metals, a unit of Japanese oil giant ENEOS plans to list on the Tokyo Stock Exchange. ENEOS will sell down a part of its stake and raise US$3.0bn.</li>
<li>Having split from the parent ENEOS, <a href="https://www.smartkarma.com/entities/jx-advanced-metals-corporation" target="_blank" data-smartkarma-citation="entities:44346:1" rel="noopener">JX Advanced Metals (5016 JP)</a> is still on a business transformation and the company’s earnings show cyclicality.</li>
<li>The company’s earnings declined in FY03/2024, however, 9MFY03/2025 results show that earnings are on a recovery driven by improving demand coupled with structural reforms undertaken by the company.</li>
</ul>


JX Advance Metals, a unit of Japanese oil giant ENEOS plans to list on the Tokyo Stock Exchange. ENEOS will sell down a part of its stake and raise US$3.0bn.
Having split from the parent ENEOS, JX Advanced Metals (5016 JP) is still on a business transformation and the company’s earnings show cyclicality.
The company’s earnings declined in FY03/2024, however, 9MFY03/2025 results show that earnings are on a recovery driven by improving demand coupled with structural reforms undertaken by the company.


JX Advance Metals IPO: Business Transformation Underway