Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Securities analyst covering electronics, precision equipment & robotics, engineering, construction, transport and other sectors for more than 25 years in Japan and 3 years in Korea. Permanent resident of Japan.

Senior Technology Analyst, Japanese Equities

Rohm (6963): Investment in Toshiba Rounds Out Long-Term Plans

Rohm (6963 JP): Government Subsidy for Power Device Project with Toshiba

Rohm (6963 JP): Quantum Process Optimization

Rohm (6963 JP): Gearing Up in the Downturn

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>Share price performance has been strong in spite of pressure on margins from heavy investment in power semiconductors for electric vehicles. </li>
<li>Management's medium-term targets are ambitious, but could be achieved in a reasonably favorable economic environment.</li>
<li>Projected valuations compare favorably with historical ranges. The primary risk to investors appears to be  over-optimism. </li>
</ul>


Share price performance has been strong in spite of pressure on margins from heavy investment in power semiconductors for electric vehicles. 
Management's medium-term targets are ambitious, but could be achieved in a reasonably favorable economic environment.
Projected valuations compare favorably with historical ranges. The primary risk to investors appears to be  over-optimism. 


ROHM Co Ltd

Rohm (6963 JP): Taking the Long View