Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

Keisei Electric Railway Co / Equity Bottom-Up

<ul>
<li>The moment of truth is here, the Chinese are finally coming back to Japan. </li>
<li>
<a href="https://www.smartkarma.com/entities/keisei-electric-railway-co" target="_blank" data-smartkarma-citation="entities:10876:1" rel="noopener">Keisei Electric Railway Co (9009 JP)</a> is one of the biggest beneficiaries of increased tourist arrivals in Japan. </li>
<li>It is trading at 0.04 PEG, a very low valuation considering its potential for producing large growth rate. </li>
</ul>


The moment of truth is here, the Chinese are finally coming back to Japan. 

Keisei Electric Railway Co (9009 JP) is one of the biggest beneficiaries of increased tourist arrivals in Japan. 
It is trading at 0.04 PEG, a very low valuation considering its potential for producing large growth rate. 


Keisei Electric (9009): The Chinese Are Back.

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> rallied +27% in the first 6 months of 2023. 6 months closed up, July closed (barely) down. The index can rise further in Aug/Sep.</li>
<li>If August is down, a LONG opportunity: look at support prices between 32391 and 30600,  good probability to see the market going higher from there.</li>
<li>If rallying in August, Nikkei could rise between +1.73% (33745) and +3.29% (34265). Continuation of the rally into September could reach higher prices but will encounter resistance at +8.29% (35922).</li>
</ul>


The Nikkei 225 (NKY INDEX) rallied +27% in the first 6 months of 2023. 6 months closed up, July closed (barely) down. The index can rise further in Aug/Sep.
If August is down, a LONG opportunity: look at support prices between 32391 and 30600,  good probability to see the market going higher from there.
If rallying in August, Nikkei could rise between +1.73% (33745) and +3.29% (34265). Continuation of the rally into September could reach higher prices but will encounter resistance at +8.29% (35922).


EQD | Nikkei 225 (NKY) MONTHLY Trajectories

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. Nasdaq and SOX Plunged overnight; Nasdaq on Tesla, Neflix; SOX on TSMC Sentiment;   Has something broken?  US Leading Index saying recession near; China deflationary pressures; Russia escalates war</li>
<li>JAPAN. NKY Futures -0.5% disc vs Cash; USDJPY 140.1;  Eyes on BOJ  but indications are no tweak;  Nidec turns it around - strong 1Q; Raft of BUY calls from Street. </li>
<li>NUGGET. Japanese companies are hiring IR professionals as they face greater scrutiny from shareholders, the TSE, and regulators. Positive development that we see as an offshoot of the governance code.</li>
</ul>


OVERSEAS. Nasdaq and SOX Plunged overnight; Nasdaq on Tesla, Neflix; SOX on TSMC Sentiment;   Has something broken?  US Leading Index saying recession near; China deflationary pressures; Russia escalates war
JAPAN. NKY Futures -0.5% disc vs Cash; USDJPY 140.1;  Eyes on BOJ  but indications are no tweak;  Nidec turns it around - strong 1Q; Raft of BUY calls from Street. 
NUGGET. Japanese companies are hiring IR professionals as they face greater scrutiny from shareholders, the TSE, and regulators. Positive development that we see as an offshoot of the governance code.


Ohayo Japan|Nasdaq, SOX Plunge-Did Something Finally Break?; NUGGET: In Demand in Japan - IR Talent

Equity Analyst, LightStream Research

Oshadhi Kumarasiri

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shiseido-co-ltd" target="_blank" data-smartkarma-citation="entities:5718:1" rel="noopener">Shiseido Company (4911 JP)</a>’s share price is down more than 4% today following a mixed 4Q22 with revenue missing consensus by 2.1% but OP beating by 31.7%.</li>
<li>A lot of optimism was baked in the medium-term plan, but 2023 OP guidance (¥60.0bn) was ¥17.5bn below consensus expectations.</li>
<li>Nevertheless, we think this shouldn’t worry investors too much as Shiseido has outperformed initial guidance by an average of ¥17.0bn over the past 3 years.</li>
</ul>



Shiseido Company (4911 JP)’s share price is down more than 4% today following a mixed 4Q22 with revenue missing consensus by 2.1% but OP beating by 31.7%.
A lot of optimism was baked in the medium-term plan, but 2023 OP guidance (¥60.0bn) was ¥17.5bn below consensus expectations.
Nevertheless, we think this shouldn’t worry investors too much as Shiseido has outperformed initial guidance by an average of ¥17.0bn over the past 3 years.


Shiseido: Conservative Guidance Is Not a Cause for Concern as Shiseido Almost Always Overdelivers

<ul>
<li>OVERSEAS. SPX -1.1% as Fed Hawks rhetoric ratches up; All 11 Sectors -ve as Beta Sold; ALPHABET-7.7% AI fails to impress; Disney +8% after-hours with earnings beat/job cuts. </li>
<li>JAPAN.  NKY Futs -0.8% vs Cash; USDJPY 131.41; Japan looking to ease restrictions for China Inbound;  EARNINGS: Pan Pac/SMM Strong vs weak Subaru which -ve production cut; Toyota out today. </li>
<li>DAILY NUGGETS. EPIC fail from Alphabet's "BARD". Aren't these events supposed to  be choreographed ????</li>
</ul>


OVERSEAS. SPX -1.1% as Fed Hawks rhetoric ratches up; All 11 Sectors -ve as Beta Sold; ALPHABET-7.7% AI fails to impress; Disney +8% after-hours with earnings beat/job cuts. 
JAPAN.  NKY Futs -0.8% vs Cash; USDJPY 131.41; Japan looking to ease restrictions for China Inbound;  EARNINGS: Pan Pac/SMM Strong vs weak Subaru which -ve production cut; Toyota out today. 
DAILY NUGGETS. EPIC fail from Alphabet's "BARD". Aren't these events supposed to  be choreographed ????


Good Morning Japan |Hawks Re-Emerge + Epic "BARD" Fail Sinks Google; Pan Pac Beat/Subaru Miss

Japan

Shiseido Company, Limited manufactures cosmetic and toiletry products. The Company offers an array of makeup and skin-care products, toiletries, beauty salon, pharmaceuticals, foodstuffs, and fine chemicals.

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Shiseido Company (4911 JP)

Keisei Electric (9009): The Chinese Are Back.

The moment of truth is here, the Chinese are finally coming back to Japan. Keisei is one of the biggest beneficiaries of increased tourism in Japan.

Henry Soediarko

EQD | Nikkei 225 (NKY) MONTHLY Trajectories

MONTHLY Trend Pattern Analysis of the Nikkei 225 Index: after 6 months up in a row and +27% gains, where is the index going next? Find support...

Nico Rosti

Ohayo Japan|Nasdaq, SOX Plunge-Did Something Finally Break?; NUGGET: In Demand in Japan - IR Talent

US tech sell off; Has something broken ? NKY Futures -0.5% disc vs Cash; USDJPY 140.1; Eyes on BOJ but indications are no tweak; Nidec turns it...

Mark Chadwick

Shiseido: Conservative Guidance Is Not a Cause for Concern as Shiseido Almost Always Overdelivers

A lot of optimism was baked in the medium-term plan, but 2023 OP guidance was ¥17.5bn below consensus. Nevertheless, we think that this shouldn’t...

Oshadhi Kumarasiri

Good Morning Japan |Hawks Re-Emerge + Epic "BARD" Fail Sinks Google; Pan Pac Beat/Subaru Miss

Fed Hawks rhetoric ratches up; ALHABET-7.7% AI fails to impress; . Japan looking to ease restrictions for China Inbound; JAPAN EARNINGS: Pan Pac...

Mark Chadwick

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