'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

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.

Thematic (Sector/Industry)

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/157/599/original/2020-09-08_05-33-14.png?1599510807" class="editor-image img-responsive" data-smartkarma-image-id="157599"></figure><div class="content-caption">
<p></p>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/157/600/original/2020-09-08_05-34-00.png?1599510849" class="editor-image img-responsive" data-smartkarma-image-id="157600"></figure><p></p> Source for all charts: Japan Analytics</div><p><strong>TWO 'FOODS'</strong> - Of the eight companies reporting results, only two have positive trailing-twelve-month and year-on-year quarterly revenue and operating income growth - health food company <a href="https://www.smartkarma.com/entities/pharma-foods-international" target="_blank" data-smartkarma-citation="entities:10530:1" rel="noopener">Pharma Foods International (2929 JP)</a> and rice cake maker <a href="https://www.smartkarma.com/entities/sato-foods-co-ltd" target="_blank" data-smartkarma-citation="entities:17549:1" rel="noopener">Sato Foods (2923 JP)</a>. </p><hr><p style="text-align: center;"><strong>DAILY STATS</strong></p><hr><div><p><strong>PERCENTAGES - 75%</strong> of quarterly results, <strong>75%</strong> of annual forecasts/revisions and <strong>50%</strong> of interim forecasts have negative Scores<strong>. 25%</strong> of companies reporting lost money for the quarter.</p></div><hr><div><p style="text-align: center;"><strong>8 Quarterly Results</strong></p></div><div><ul style="list-style-type: disc;">
<li>
<strong>Results Score</strong>: 25% Positive / 0% Neutral / 75% Negative</li>
<li>
<strong>Average Results Score Change:</strong> -5.5 points</li>
<li>
<strong>Average % Change in Revenue:</strong> -3.9% Quarter YoY / -0.4% Rolling TTM YoY </li>
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<strong>Average Operating Profit Margin Change:</strong> -2.8 ppt</li>
<li>
<strong>Percentage Making Quarterly Losses</strong>: 25%</li>
</ul></div><hr><div><p style="text-align: center;"><strong>4 Annual • 2 Interim Forecasts/Revisions</strong></p></div><div><ul style="list-style-type: disc;">
<li>
<strong>Annual Forecast/Revision Score:</strong> 25% Positive / 0% Neutral / 75% Negative</li>
<li>
<strong>Interim Forecast/Revision Score Change:</strong> 50% Positive / 0% Neutral / 50% Negative</li>
<li>
<strong>Average Forecast/Revision Score Change:</strong> -1.7 points</li>
</ul></div>



 Source for all charts: Japan AnalyticsTWO 'FOODS' - Of the eight companies reporting results, only two have positive trailing-twelve-month and year-on-year quarterly revenue and operating income growth - health food company Pharma Foods International (2929 JP) and rice cake maker Sato Foods (2923 JP). DAILY STATSPERCENTAGES - 75% of quarterly results, 75% of annual forecasts/revisions and 50% of interim forecasts have negative Scores. 25% of companies reporting lost money for the quarter.8 Quarterly Results

Results Score: 25% Positive / 0% Neutral / 75% Negative

Average Results Score Change: -5.5 points

Average % Change in Revenue: -3.9% Quarter YoY / -0.4% Rolling TTM YoY 

Average Operating Profit Margin Change: -2.8 ppt

Percentage Making Quarterly Losses: 25%
4 Annual • 2 Interim Forecasts/Revisions

Annual Forecast/Revision Score: 25% Positive / 0% Neutral / 75% Negative

Interim Forecast/Revision Score Change: 50% Positive / 0% Neutral / 50% Negative

Average Forecast/Revision Score Change: -1.7 points


🇯🇵 JAPAN • Results & Revisions 09/​​​07 - A Tale of 'Two Foods' & Funeral Photos

Japan

Asukanet Company, Limited provides image modification and photo album creation services.  The Company also produces photo albums for commercial photographers.

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Asukanet Co Ltd (2438 JP)

🇯🇵 JAPAN • Results & Revisions 09/07 - A Tale of 'Two Foods' & Funeral Photos

Source for all charts: Japan Analytics

Campbell Gunn

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🇯🇵 JAPAN • Results & Revisions 09/​​​07 - A Tale of 'Two Foods' & Funeral Photos

Source for all charts: Japan Analytics

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 09/07 - A Tale of 'Two Foods' & Funeral Photos