Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Senior Technology Analyst, Japanese Equities

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>Sales are growing again and the company has turned profitable with capacity utilization up and costs down. Guidance for 2H of FY Mar-26 looks conservative. </li>
<li>Sales of power devices is rising after a long period of weakness, supported by auto, industrial and data center related demand.</li>
<li>Projected valuations are once again reasonable. The share price should continue to trend upwards.</li>
</ul>


Sales are growing again and the company has turned profitable with capacity utilization up and costs down. Guidance for 2H of FY Mar-26 looks conservative. 
Sales of power devices is rising after a long period of weakness, supported by auto, industrial and data center related demand.
Projected valuations are once again reasonable. The share price should continue to trend upwards.


Rohm (6963 JP): Renewed Growth, Conservative Guidance & Reasonable Valuation

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

<ul>
<li>We compile our selection of companies across Japan, China and India based on bottom-up triggers in each company. </li>
<li>Top-Picks in China are <a href="https://www.smartkarma.com/entities/haier-smart-home-co-ltd-b3ef445f-0f54-4586-8c58-9073de98d60e" target="_blank" data-smartkarma-citation="entities:31105:1" rel="noopener">Haier Smart Home (6690 HK)</a> , <a href="https://www.smartkarma.com/entities/midea-group-co-ltd" target="_blank" data-smartkarma-citation="entities:43993:1" rel="noopener">Midea Group (300 HK)</a> and <a href="https://www.smartkarma.com/entities/yadea-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22706:1" rel="noopener">Yadea Group Holdings (1585 HK)</a>.</li>
<li>Our top picks in Japan are <a href="https://www.smartkarma.com/entities/suzuki-motor-corp" target="_blank" data-smartkarma-citation="entities:732:1" rel="noopener">Suzuki Motor (7269 JP)</a> and <a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a> and in India-Auto it is <a href="https://www.smartkarma.com/entities/mahindra-mahindra-ltd" target="_blank" data-smartkarma-citation="entities:16441:1" rel="noopener">Mahindra &amp; Mahindra (MM IN)</a> &amp;<a href="https://www.smartkarma.com/entities/ashok-leyland-ltd" target="_blank" data-smartkarma-citation="entities:20104:1" rel="noopener">Ashok Leyland (AL IN)</a>
</li>
</ul>


We compile our selection of companies across Japan, China and India based on bottom-up triggers in each company. 
Top-Picks in China are Haier Smart Home (6690 HK) , Midea Group (300 HK) and Yadea Group Holdings (1585 HK).
Our top picks in Japan are Suzuki Motor (7269 JP) and ROHM Co Ltd (6963 JP) and in India-Auto it is Mahindra &amp; Mahindra (MM IN) &amp;Ashok Leyland (AL IN)



Shortlist Of High Conviction Ideas Across China, Japan, India - November 2025

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>SEI, Furukawa and Fujikura, all reporting this week, may see gains with a stronger optical connectivity tape overnight and recent selloff leaving the risk/reward tilted higher into this week's earnings.</li>
<li>QPS, Astroscale and Synspective may see gains tracking Sidus, Redwire and Rocket Lab overnight, though SpaceX's earnings and lockup expiry this week warrant caution.</li>
<li>Fuji Elec and Rohm may see support from Onsemi's beat and raised AI data center sales guidance.</li>
</ul>


SEI, Furukawa and Fujikura, all reporting this week, may see gains with a stronger optical connectivity tape overnight and recent selloff leaving the risk/reward tilted higher into this week's earnings.
QPS, Astroscale and Synspective may see gains tracking Sidus, Redwire and Rocket Lab overnight, though SpaceX's earnings and lockup expiry this week warrant caution.
Fuji Elec and Rohm may see support from Onsemi's beat and raised AI data center sales guidance.


Japan Morning Connection: SEI, Furukawa, Fujikura May See Support as Optical Names Rally Overnight

<ul>
<li>Heavily sold AI plays such as Ibiden, Advantest and Kokusai look likely to continue higher given the more constructive outlook in Iran and lower oil to start.</li>
<li>Amazon's AWS growth beat validates its AI spend, offering a positive read-through for Japan's SPE and semi-caps.</li>
<li>Westinghouse Electric Company applying for an IPO in the US should help put focus and improve valuation clarity for Mitsubishi Heavy Industries and Japan Steel Works.</li>
</ul>


Heavily sold AI plays such as Ibiden, Advantest and Kokusai look likely to continue higher given the more constructive outlook in Iran and lower oil to start.
Amazon's AWS growth beat validates its AI spend, offering a positive read-through for Japan's SPE and semi-caps.
Westinghouse Electric Company applying for an IPO in the US should help put focus and improve valuation clarity for Mitsubishi Heavy Industries and Japan Steel Works.


Japan Morning Connection: Risk-On Sentiment Remains as Trump Holds off on More Attacks

<ul>
<li>Lasertec, TEL, Screen and TOK to benefit from Intel's strong earnings.</li>
<li>Disco's guidance miss may present a chance to buy the dip.</li>
<li>Power-Semi’s may be under the pump after STMicro tanked -17.7% in EU and -18.7% in US trading from earnings disappointment. </li>
</ul>


Lasertec, TEL, Screen and TOK to benefit from Intel's strong earnings.
Disco's guidance miss may present a chance to buy the dip.
Power-Semi’s may be under the pump after STMicro tanked -17.7% in EU and -18.7% in US trading from earnings disappointment. 


Japan Morning Connection: Intel's Big Beat and Capex Guidance Raise Set to Lift JP Suppliers and SPE

Japan

ROHM COMPANY LIMITED manufactures custom linear integrated circuits and semiconductor devices for use primarily in consumer electronics.  The Company has plants and sales offices worldwide.  Rohm's subsidiaries include Wako Electric and Apollo Electronics.

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ROHM Co Ltd (6963 JP)

Rohm (6963 JP): Renewed Growth, Conservative Guidance & Reasonable Valuation

Rohm has pulled itself out of the red and appears to be low-balling 2H guidance. Power device sales for auto, industrial and data center use are...

Scott Foster

Shortlist Of High Conviction Ideas Across China, Japan, India - November 2025

Mahindra and Mahindra continued with its strong sales momentum in November - 1)Within auto it achieved SUV sales of 56,336 units, a growth of...

Sreemant Dudhoria

Japan Morning Connection: SEI, Furukawa, Fujikura May See Support as Optical Names Rally Overnight

SEI, Furukawa, Fujikura may see gains with strong optical connectivity tape and recent selloff. Fuji Elec, Rohm may see support from Onsemi's beat...

Andrew Jackson

Japan Morning Connection: Risk-On Sentiment Remains as Trump Holds off on More Attacks

Heavily sold AI plays such as Ibiden, Advantest and Kokusai, look likely to continue higher despite the missed US tape given the more constructive...

Andrew Jackson

Japan Morning Connection: Intel's Big Beat and Capex Guidance Raise Set to Lift JP Suppliers and SPE

Intel's strong earnings will benefit Lasertec, TEL, Screen, and TOK. Disco's guidance miss could be a buying opportunity. Power-Semi's may face...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Rohm (6963 JP): Renewed Growth, Conservative Guidance & Reasonable Valuation

Rohm has pulled itself out of the red and appears to be low-balling 2H guidance. Power device sales for auto, industrial and data center use are...

Scott Foster

Shortlist Of High Conviction Ideas Across China, Japan, India - November 2025

Mahindra and Mahindra continued with its strong sales momentum in November - 1)Within auto it achieved SUV sales of 56,336 units, a growth of...

Sreemant Dudhoria

Japan Morning Connection: SEI, Furukawa, Fujikura May See Support as Optical Names Rally Overnight

​SEI, Furukawa, Fujikura may see gains with strong optical connectivity tape and recent selloff. Fuji Elec, Rohm may see support from Onsemi's beat...

Andrew Jackson

Japan Morning Connection: Risk-On Sentiment Remains as Trump Holds off on More Attacks

Heavily sold AI plays such as Ibiden, Advantest and Kokusai, look likely to continue higher despite the missed US tape given the more constructive...

Andrew Jackson

Japan Morning Connection: Intel's Big Beat and Capex Guidance Raise Set to Lift JP Suppliers and SPE

​Intel's strong earnings will benefit Lasertec, TEL, Screen, and TOK. Disco's guidance miss could be a buying opportunity. Power-Semi's may face...

Andrew Jackson

SEI, Furukawa, Fujikura may see gains with strong optical connectivity tape and recent selloff. Fuji Elec, Rohm may see support from Onsemi's beat...

Intel's strong earnings will benefit Lasertec, TEL, Screen, and TOK. Disco's guidance miss could be a buying opportunity. Power-Semi's may face...