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

Seven & I to Close Barney’s New York Shinjuku

2021 High Conviction Update: 34% More Upside Short-Term Is Not Impossible

Activist Investor Requests Seven & I to Focus on 7-Eleven Convenience Store Business

2021 High Conviction - Seven & I Holdings: The March for America

Speedway Acquisition: Buy the Dip as Valuation Falls Near Five-Year Low

EV/OP Descends to A New Low: An Opportunity to Gas Up Seven & I on the Back of Speedway Acquisition

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

<p>Our 2021 High Conviction call, <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a> delivered 3QFY21 results yesterday with operating income surpassing consensus estimate by more than 20%. The company’s 3QFY21 consolidated revenue was 1.2% below consensus. However, the YoY rate of revenue decline narrowed to 10% in 3QFY21, compared to 15.8% in 1HFY21.</p><p>More importantly, Seven &amp; I has rallied 28% from the August low of ¥3,052 per share (at the time of the Speedway acquisition) and 18% since the publication of our high conviction call.</p><ul>
<li><a href="https://www.smartkarma.com/insights/2021-high-conviction-seven-i-holdings-the-march-for-america" target="_blank" rel="noopener">2021 High Conviction - Seven &amp; I Holdings: The March for America</a></li>
<li>
<a href="https://www.smartkarma.com/insights/ev-op-descends-to-a-new-low-an-opportunity-to-gas-up-seven-i-on-the-back-of-speedway-acquisition" target="_blank" data-smartkarma-citation="insights:45098" rel="noopener">EV/OP Descends to A New Low: An Opportunity to Gas Up Seven &amp; I on the Back of Speedway Acquisition</a> </li>
<li><a href="https://www.smartkarma.com/insights/speedway-acquisition-buy-the-dip-as-valuation-falls-near-five-year-low" target="_blank" rel="noopener">Speedway Acquisition: Buy the Dip as Valuation Falls Near Five-Year Low</a></li>
<li><a href="https://www.smartkarma.com/insights/seven-i-acquires-speedway-for-21-billion-expensive-but-necessary-acquisition" target="_blank" rel="noopener">Seven &amp; I Acquires Speedway for $21 Billion: Expensive but Necessary Acquisition</a></li>
</ul>

Our 2021 High Conviction call, Seven &amp; I Holdings (3382 JP) delivered 3QFY21 results yesterday with operating income surpassing consensus estimate by more than 20%. The company’s 3QFY21 consolidated revenue was 1.2% below consensus. However, the YoY rate of revenue decline narrowed to 10% in 3QFY21, compared to 15.8% in 1HFY21.More importantly, Seven &amp; I has rallied 28% from the August low of ¥3,052 per share (at the time of the Speedway acquisition) and 18% since the publication of our high conviction call.
2021 High Conviction - Seven &amp; I Holdings: The March for America

EV/OP Descends to A New Low: An Opportunity to Gas Up Seven &amp; I on the Back of Speedway Acquisition 
Speedway Acquisition: Buy the Dip as Valuation Falls Near Five-Year Low
Seven &amp; I Acquires Speedway for $21 Billion: Expensive but Necessary Acquisition


Seven & I Holdings: OP Beats Could Continue into 4QFY21