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

Short Roland/Long Yamaha as Roland May Fail to Meet Demand Due to Production Shortages

Roland IPO Valuation: Cyclicality Unaccounted For

Roland Corporation IPO: More In Tune Than Yamaha Lately

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.

Event-Driven

<p><a href="https://www.smartkarma.com/entities/yamaha-corp" target="_blank" data-smartkarma-citation="entities:17841:1" rel="noopener">Yamaha Corp (7951 JP)</a>’s biggest competitor, <a href="https://www.smartkarma.com/entities/roland-corp" target="_blank" data-smartkarma-citation="entities:30727:1" rel="noopener">Roland Corp (7944 JP)</a>, is scheduled to make a return to the first section of Tokyo Stock Exchange on 16<sup>th</sup> December 2020. Roland is priced relatively cheaper than Yamaha’s inflated valuation multiples. Moreover, Roland is relisting after five consecutive years of relative outperformance in revenue and OP growth compared to Yamaha. We analyse the impact of Roland's return to the Tokyo Stock Exchange on Yamaha's share price below. </p>

Yamaha Corp (7951 JP)’s biggest competitor, Roland Corp (7944 JP), is scheduled to make a return to the first section of Tokyo Stock Exchange on 16th December 2020. Roland is priced relatively cheaper than Yamaha’s inflated valuation multiples. Moreover, Roland is relisting after five consecutive years of relative outperformance in revenue and OP growth compared to Yamaha. We analyse the impact of Roland's return to the Tokyo Stock Exchange on Yamaha's share price below. 

Roland Returns at Cheaper Multiples: Not Going to Sing Well With Yamaha