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

Baycurrent Consulting: Strong Fundamentals; Up Almost 200% and Further Upside Likely

Shift 4Q: Growth Story Is Getting Stronger

Clover Biopharmaceutical IPO: Covid-19 Vaccine Candidate Shows Strong Potential

M3: Medlive IPO Helped OP Surge in 1Q; Expect Earnings Weakness to Come Through in 2H

CyberAgent 3Q: Recurring Strong Results Ease Concerns over Gaming Revenues; Guidance Revised Upwards

Freee: Strong Finish to the Year; Top Line to Expand but Monetisation of New Services Delays Profits

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

<p><a href="https://www.smartkarma.com/entities/shift-inc" target="_blank" data-smartkarma-citation="entities:7266:1" rel="noopener">Shift Inc (3697 JP)</a> offers outsourced software quality assurance and testing solutions to customers in the enterprise and entertainment markets in Japan. Shift is the market leader in the outsourced software testing service market in Japan with an estimated market share of 70%. The software testing market in Japan is estimated at JPY5.5 trn, however, only 1.0% of the market is currently outsourced while majority of software testing is carried out by in-house engineers at software development companies.</p><p>The company’s shares have rallied more than 80.0% since March this year significantly outperforming the market. In this insight, we examine Shift’s business model, segments, financials, management, outlook and valuation.</p>

Shift Inc (3697 JP) offers outsourced software quality assurance and testing solutions to customers in the enterprise and entertainment markets in Japan. Shift is the market leader in the outsourced software testing service market in Japan with an estimated market share of 70%. The software testing market in Japan is estimated at JPY5.5 trn, however, only 1.0% of the market is currently outsourced while majority of software testing is carried out by in-house engineers at software development companies.The company’s shares have rallied more than 80.0% since March this year significantly outperforming the market. In this insight, we examine Shift’s business model, segments, financials, management, outlook and valuation.

Shift Inc: Key Beneficiary of Shift in Software Testing Towards Outsourcing in Japan