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: Activist & Long Term Investors Riled Up Yet Again

Seven & I to Sell The Loss Making Department Store Business Amidst Pressure From Investors

TOPIX-Nikkei Skew Trade Starting to Work Nicely

2021 High Conviction Update: Raises Speedway Synergies, But Leaves Enough Room For Future Upside

2021 High Conviction: Seven & I Raises Speedway Synergies & India Expansion Could Break The Deadlock

1QFY22 Results: Underperforms Consensus, A Minor Blip Could Be a Good Entry Point

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>Following a strong third quarter the company has raised the full year revenue and OP outlook by 3.0% and 7.3% respectively due to stronger than expected overseas convenience store performance.</li>
<li>Moreover, the company continues to raise the Speedway synergies with the new medium-term plan expecting <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> to double the EBITDA and EPS through 2020-25.</li>
<li>After rallying 65% in 1H21, shares took a breather during the last seven months. We think the timing is right to start the second half of Seven &amp; I’s rally.</li>
</ul>


Following a strong third quarter the company has raised the full year revenue and OP outlook by 3.0% and 7.3% respectively due to stronger than expected overseas convenience store performance.
Moreover, the company continues to raise the Speedway synergies with the new medium-term plan expecting Seven &amp; I Holdings (3382 JP) to double the EBITDA and EPS through 2020-25.
After rallying 65% in 1H21, shares took a breather during the last seven months. We think the timing is right to start the second half of Seven &amp; I’s rally.


Time to Get Back Into Our 2021 High Conviction Call Seven & I