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

Good Morning Japan |Yellen/Powell Rattles Markets; NUGGET: NIKON - Riding the DigiCam Renaissance

HRTech Sector Series: Market Continues to Evolve While Post Covid Growth Begins to Slow Down

Recruit: Further Drop in US Job Openings Adds Strain on HRTech Earnings

2022 High Conviction Recruit: More Room for Shares to Fall

Recruit: HRTech Margins Falling Back to Pre-Covid

Techtronic Industries: Jehoshaphat Research’s Allegations and Our Assessment

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.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/recruit-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:15070:1" rel="noopener">Recruit Holdings (6098 JP)</a>  share price is down 18% YTD and the valuation multiples have more than halved since their peak in November 2021.</li>
<li>The company’s recent 3QFY03/2022 earnings pointed towards declining profitability with mismatch in the labour markets easing off.</li>
<li>The job openings in the US have further declined in January suggesting that Recruit’s share price has more room to fall as consensus has further downgraded estimates.</li>
</ul>



Recruit Holdings (6098 JP)  share price is down 18% YTD and the valuation multiples have more than halved since their peak in November 2021.
The company’s recent 3QFY03/2022 earnings pointed towards declining profitability with mismatch in the labour markets easing off.
The job openings in the US have further declined in January suggesting that Recruit’s share price has more room to fall as consensus has further downgraded estimates.


Recruit: Share Price Continues to Fall as Labour Markets Facing Challenges