Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Securities analyst covering electronics, precision equipment & robotics, engineering, construction, transport and other sectors for more than 25 years in Japan and 3 years in Korea. Permanent resident of Japan.

Senior Technology Analyst, Japanese Equities

Sensor Business Expansion and Progress in Solid State Batteries Using MLCC Expertise

Murata Up 12.8% Following 3QFY03/19 Earnings Release

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

<ul>
<li>Good 1H results led to an upward revision to FY Mar-22 sales and profit guidance. Geared to both digital and energy transformations.</li>
<li>Higher R&amp;D spending limits short-term profits but should contribute to long-term growth, particularly in rechargeable batteries.</li>
<li>Selling at a discount to main comparable Murata Mfg (6981 JP). 30% potential upside.</li>
</ul>


Good 1H results led to an upward revision to FY Mar-22 sales and profit guidance. Geared to both digital and energy transformations.
Higher R&amp;D spending limits short-term profits but should contribute to long-term growth, particularly in rechargeable batteries.
Selling at a discount to main comparable Murata Mfg (6981 JP). 30% potential upside.


TDK (6762 JP): Sales & Profits Rebounding, Relatively Cheap

TDK Corp

TDK (6762 JP): Sales & Profits Rebounding, Relatively Cheap