Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

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.

Event-Driven

It was reported by several news media outlets including the Nikkei, Bloomberg and Reuters that <a href="https://www.smartkarma.com/entities/hitachi-ltd" target="_blank" data-smartkarma-citation="entities:7797:1" rel="noopener">Hitachi Ltd (6501 JP)</a>  is planning to sell a 60% stake in its overseas home appliance business to major Turkish consumer electronics maker Arcelik AS.The two companies are in advanced talks and an agreement is expected to be reached over the next few weeks. The deal could be valued at around US$300-500m.Hitachi’s home appliance business generates only about 20% of its revenues from overseas markets whereas China and Southeast Asia accounting for bulk of the overseas revenues.<a href="https://www.smartkarma.com/entities/arcelik-as" target="_blank" data-smartkarma-citation="entities:24759:1" rel="noopener">Arcelik AS (ARCLK TI)</a> , together with its subsidiaries produces and sells consumer durable goods and consumer electronics in Turkey and internationally. Its products are sold under Arcelik, Beko, Blomberg, Arctic, Leisure, Defy and several other brands.By partnering up with Arcelik, Hitachi aims to expand the sale of its consumer appliances products in markets such as Europe and Africa, where Arcelik has a strong foothold in these markets.

It was reported by several news media outlets including the Nikkei, Bloomberg and Reuters that Hitachi Ltd (6501 JP)  is planning to sell a 60% stake in its overseas home appliance business to major Turkish consumer electronics maker Arcelik AS.The two companies are in advanced talks and an agreement is expected to be reached over the next few weeks. The deal could be valued at around US$300-500m.Hitachi’s home appliance business generates only about 20% of its revenues from overseas markets whereas China and Southeast Asia accounting for bulk of the overseas revenues.Arcelik AS (ARCLK TI) , together with its subsidiaries produces and sells consumer durable goods and consumer electronics in Turkey and internationally. Its products are sold under Arcelik, Beko, Blomberg, Arctic, Leisure, Defy and several other brands.By partnering up with Arcelik, Hitachi aims to expand the sale of its consumer appliances products in markets such as Europe and Africa, where Arcelik has a strong foothold in these markets.

Hitachi to Sell Overseas Home Appliance Business; Attempt to Reach Its Mid-Term Management Targets

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

In our October 1 Int’l Compass we highlighted our belief that the lows were in place for this recent correction and that, combined with mostly healthy market dynamics, a bullish outlook is appropriate if the MSCI ACWI (ACWI-US) is above $77 support and, if the MSCI EM (EEM-US) is above $42.30 support. These indexes and market dynamics have only improved since October 1. As a result, our outlook remains bullish and we continue to believe that the path of least resistance is higher for global equities. Below we summarize the basis for our bullish outlook. Open the attached file to read our complete International Strategy document, and to find links to detailed comments and recommendations for each of our 12 Sectors.

In our October 1 Int’l Compass we highlighted our belief that the lows were in place for this recent correction and that, combined with mostly healthy market dynamics, a bullish outlook is appropriate if the MSCI ACWI (ACWI-US) is above $77 support and, if the MSCI EM (EEM-US) is above $42.30 support. These indexes and market dynamics have only improved since October 1. As a result, our outlook remains bullish and we continue to believe that the path of least resistance is higher for global equities. Below we summarize the basis for our bullish outlook. Open the attached file to read our complete International Strategy document, and to find links to detailed comments and recommendations for each of our 12 Sectors.

Global Equity Strategy: Bullish Outlook Intact

Turkey

Arcelik A.S. manufactures and sells refrigerators, washing machines, cooking appliances, vacuum cleaners, refrigeration compressors, electric motors and consumer electronics products.  The Company markets its products under the brand names Arcelik and Beko.  Arcelik sells its products in Turkey and exports throughout continental Europe, the United Kingdom, and Tunisia.

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Arcelik AS (ARCLK TI)

Hitachi to Sell Overseas Home Appliance Business; Attempt to Reach Its Mid-Term Management Targets

It was reported by several news media outlets that Hitachi is planning to sell a 60% stake in its overseas home appliance business to major Turkish...

Shifara Samsudeen, FCMA, CGMA

Global Equity Strategy: Bullish Outlook Intact

Read our complete International Strategy document to find detailed comments and recommendations for each of our 12 Sectors.

Vermilion Research

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