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

PPIH: Combating Cost Inflation Through Personal Brands Growth

Pan Pacific International: A Reasonably Strong Third Quarter Warrants Further Upside

PPIH: Q2 Should Ease Concerns on Profitability & Help The Share Price Return to Pre Q1 Level

Pan Pacific International Valuation: All Signs Points to a Large Upside in the Short Term

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

Pan Pacific International Holdings / Equity Bottom-Up

Pan Pacific International Holdings (7532 JP)

<ul>
<li>After beating the Q4 consensus OP by more than 26%, <a href="https://www.smartkarma.com/entities/pan-pacific-international-holdings-corporation" target="_blank" data-smartkarma-citation="entities:13475:1" rel="noopener">Pan Pacific International Holdings (7532 JP)</a>’s share price has bounced back towards the mid-point of its long-term trend channel.</li>
<li>With inbound demand set to return to further boost PPIH’s profitability, we are expecting additional upside to consensus FY23 OP, which is based on conservative company guidance.</li>
<li>Based on the FY+1 consensus OP to share price trend, our annual run-rate OP estimate of ¥160bn suggests that there could be an additional 50% upside to Pan Pacific International.</li>
</ul>


After beating the Q4 consensus OP by more than 26%, Pan Pacific International Holdings (7532 JP)’s share price has bounced back towards the mid-point of its long-term trend channel.
With inbound demand set to return to further boost PPIH’s profitability, we are expecting additional upside to consensus FY23 OP, which is based on conservative company guidance.
Based on the FY+1 consensus OP to share price trend, our annual run-rate OP estimate of ¥160bn suggests that there could be an additional 50% upside to Pan Pacific International.


PPIH – Inbound Demand & Personal Brands Growth Could Propel The Share Price Above ¥4,000