'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)

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<p style="text-align: center;"><strong>• RESULTS - 2nd APRIL •</strong></p>
<section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/198/828/original/2021-04-03_06-36-35.png?1617567965" class="editor-image img-responsive" data-smartkarma-image-id="198828"></figure></section><p><strong>RESULTS</strong> - Only six of Friday's thirteen results scored positively. Of the larger caps, <a href="https://www.smartkarma.com/entities/heiwado-co-ltd" target="_blank" data-smartkarma-citation="entities:11411:1" rel="noopener">Heiwado (8276 JP)</a> continues to see a recovery in margins, while <a href="https://www.smartkarma.com/entities/nachi-fujikoshi-corp" target="_blank" data-smartkarma-citation="entities:9817:1" rel="noopener">Nachi Fujikoshi (6474 JP)</a> struggles. Earnings momentum is now slowing at the overvalued and Overbought staffing agency <a href="https://www.smartkarma.com/entities/s-pool-inc" target="_blank" data-smartkarma-citation="entities:7878:1" rel="noopener">S Pool (2471 JP)</a>.</p>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/198/830/original/image_44290506921617568328843.png?1617568330" class="editor-image img-responsive" data-smartkarma-image-id="198830"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/198/831/original/image_57651559131617568365442.png?1617568366" class="editor-image img-responsive" data-smartkarma-image-id="198831"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/198/832/original/image_4237424241617568389958.png?1617568391" class="editor-image img-responsive" data-smartkarma-image-id="198832"></figure><p style="text-align: center;"><strong>• FORECASTS/REVISIONS - 2nd APRIL •</strong> </p>
<section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/198/833/original/2021-04-03_06-37-00.png?1617568432" class="editor-image img-responsive" data-smartkarma-image-id="198833"></figure></section><p><strong>FORECASTS/REVISIONS</strong> - Heiwado also announced positive interim and annual forecasts for the current fiscal year - for more, see the <strong>DETAIL</strong> section below.</p>
</div>


• RESULTS - 2nd APRIL •
RESULTS - Only six of Friday's thirteen results scored positively. Of the larger caps, Heiwado (8276 JP) continues to see a recovery in margins, while Nachi Fujikoshi (6474 JP) struggles. Earnings momentum is now slowing at the overvalued and Overbought staffing agency S Pool (2471 JP).
• FORECASTS/REVISIONS - 2nd APRIL • 
FORECASTS/REVISIONS - Heiwado also announced positive interim and annual forecasts for the current fiscal year - for more, see the DETAIL section below.


🇯🇵 JAPAN • Results & Revisions 04/02 - ​​​​​​​​Heiwado, Nachi-Fujikoshi, S-Pool

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/143/890/original/2020-07-02_07-06-38.png?1593641229" class="editor-image img-responsive" data-smartkarma-image-id="143890"></figure><div class="content-caption">Source • Japan Analytics</div><p><strong>BAD NEWS &lt;&gt; GOOD NEWS</strong>- Only one company reported quarterly results yesterday -  nano-cap regional newspaper publisher and once speculative high-flyer, <a href="https://www.smartkarma.com/entities/chiikishinbunsha-co-ltd" target="_blank" data-smartkarma-citation="entities:16470:1" rel="noopener">Chiikishinbunsha (2164 JP)</a>. With advertisers cutting spending and physical distribution compromised, revenues fell by 37% for the quarter and are forecast to fall further in the current quarter, which ends next month. In the <strong>DETAIL</strong> below, we cover yesterday's eight revisions which showed strong growth in some businesses that are benefiting from the COVID-19 economy.</p><div><p style="text-align: center;"><strong>DAILY STATS</strong></p></div><hr><div><p style="text-align: center;"><strong>1 Quarterly Result (see above)</strong></p></div><hr><div><p style="text-align: center;"><br><strong>5 Annual • 3 Interim Forecasts/Revisions</strong></p></div><div><ul>
<li>Annual Forecast/Revision Score: 3 Positive / 3 Neutral / 2 Negative</li>
<li>Interim Forecast/Revision Score Change: 2 Positive / 2 Neutral / 1 Negative</li>
<li>Average Forecast/Revision Score Change: -1.0</li>
</ul></div>

Source • Japan AnalyticsBAD NEWS &lt;&gt; GOOD NEWS- Only one company reported quarterly results yesterday -  nano-cap regional newspaper publisher and once speculative high-flyer, Chiikishinbunsha (2164 JP). With advertisers cutting spending and physical distribution compromised, revenues fell by 37% for the quarter and are forecast to fall further in the current quarter, which ends next month. In the DETAIL below, we cover yesterday's eight revisions which showed strong growth in some businesses that are benefiting from the COVID-19 economy.DAILY STATS1 Quarterly Result (see above) 5 Annual • 3 Interim Forecasts/Revisions
Annual Forecast/Revision Score: 3 Positive / 3 Neutral / 2 Negative
Interim Forecast/Revision Score Change: 2 Positive / 2 Neutral / 1 Negative
Average Forecast/Revision Score Change: -1.0


🇯🇵 JAPAN • Results & Revisions 1st July • Bad News <> Good News

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

<p>Global equities (MSCI ACWI) are decisively breaking above 1-month resistance on US-China trade war optimism, incrementally improving the technical picture. While there is some room to move higher in the near-term, we are hesitant to get too excited because several major indexes have additional hurdles to jump. We highlight important technical levels across major averages including Europe/UK (STOXX 600), Hong Kong (Hang Seng), Japan (TOPIX), and several EM countries (China, Brazil, Russia, Taiwan, and India).  Finally, we highlight attractive opportunities within the Consumer Discretionary, Heath Care and Services sectors.</p>

Global equities (MSCI ACWI) are decisively breaking above 1-month resistance on US-China trade war optimism, incrementally improving the technical picture. While there is some room to move higher in the near-term, we are hesitant to get too excited because several major indexes have additional hurdles to jump. We highlight important technical levels across major averages including Europe/UK (STOXX 600), Hong Kong (Hang Seng), Japan (TOPIX), and several EM countries (China, Brazil, Russia, Taiwan, and India).  Finally, we highlight attractive opportunities within the Consumer Discretionary, Heath Care and Services sectors.

Japan

S-Pool, Inc. provides outsourcing services including providing temporary staffing and performing contract work.  The Company also conducts market research and plans sales promotion for mobile and consumer maker companies.

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S-Pool, Inc. (2471 JP)

🇯🇵 JAPAN • Results & Revisions 04/02 - Heiwado, Nachi-Fujikoshi, S-Pool

RESULTS - Only six of Friday's thirteen results scored positively. Of the larger caps, Heiwado (8276 JP) continues to see a recovery in margins,...

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 1st July • Bad News <> Good News

BAD NEWS <> GOOD NEWS- Only one company reported quarterly results yesterday - nano-cap regional newspaper publisher and once speculative...

Campbell Gunn

Global Equity Strategy: Guarded Optimism

Global equities (MSCI ACWI) are decisively breaking above 1-month resistance on US-China trade war optimism, incrementally improving the technical...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

🇯🇵 JAPAN • Results & Revisions 04/02 - ​​​​​​​​Heiwado, Nachi-Fujikoshi, S-Pool

RESULTS - Only six of Friday's thirteen results scored positively. Of the larger caps, Heiwado (8276 JP) continues to see a recovery in margins,...

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 1st July • Bad News <> Good News

BAD NEWS <> GOOD NEWS- Only one company reported quarterly results yesterday - nano-cap regional newspaper publisher and once speculative...

Campbell Gunn

Global Equity Strategy: Guarded Optimism

Global equities (MSCI ACWI) are decisively breaking above 1-month resistance on US-China trade war optimism, incrementally improving the technical...

Vermilion Research

🇯🇵 JAPAN • Results & Revisions 04/02 - Heiwado, Nachi-Fujikoshi, S-Pool