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.

Japan Weekly | A Bull Market? Shiseido, TEL, Lasertec

Equity Bottom-Up

<ul>
<li>Chinese lockdowns are taking their toll on Q2 sales. We expect the upcoming report to be much worse than the last </li>
<li>Estee Lauder's recent results suggest that travel retail will be a negative shock too </li>
<li>We believe there is one large downgrade to full-year guidance and consensus numbers. Too early turn bullish </li>
</ul>


Chinese lockdowns are taking their toll on Q2 sales. We expect the upcoming report to be much worse than the last 
Estee Lauder's recent results suggest that travel retail will be a negative shock too 
We believe there is one large downgrade to full-year guidance and consensus numbers. Too early turn bullish 


Shiseido (4911 JP) | Q2 Results Will Make Analysts Blush

Shiseido Company

Shiseido (4911 JP) | Q2 Results Will Make Analysts Blush