Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

FTSE GEIS Sep21 Index Rebalance Preview: Changes Expected in Japan

Japan Small Cap Growth - Sansan (4443) | Still a Long Way to Go

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/sansan-inc" target="_blank" data-smartkarma-citation="entities:28112:1" rel="noopener">Sansan Inc (4443 JP)</a>  has corrected 15% since the company issued a profit warning last week. The final figures have now been released. That is the end of the "bad news." The outlook and guidance for FY5/22 is more upbeat. The company expects sales growth to accelerate from 21% last year to ~26% this year, as the impact from the pandemic fades. Given the increased spend on marketing and personnel, we would expect to see a pick up in the key KPIs, customer acquisition and ARR (annual recurring revenue). The 3 catalysts to BUY the stock: 1) post correction the stock trades at an attractive 13x NTM EV/sales, 2) Key KPIs, customer acquisition and ARR, are recovering and 3) passive flow from potential FTSE All-World Index inclusion (<a href="https://www.smartkarma.com/insights/ftse-geis-sep21-index-rebalance-preview-japan-edition" target="_blank" data-smartkarma-citation="insights:53004" rel="noopener">FTSE GEIS Sep21 Index Rebalance Preview: Japan Edition</a> )

Sansan Inc (4443 JP)  has corrected 15% since the company issued a profit warning last week. The final figures have now been released. That is the end of the "bad news."  The outlook and guidance for FY5/22 is more upbeat. The company expects sales growth to accelerate from 21% last year to ~26% this year, as the impact from the pandemic fades. Given the increased spend on marketing and personnel, we would expect to see a pick up in the key KPIs, customer acquisition and ARR (annual recurring revenue). The 3 catalysts to BUY the stock: 1) post correction the stock trades at an attractive 13x NTM EV/sales, 2) Key KPIs, customer acquisition and ARR, are recovering and 3) passive flow from potential FTSE All-World Index inclusion (FTSE GEIS Sep21 Index Rebalance Preview: Japan Edition )

Sansan Inc

Sansan (4443) | San Catalysts