Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

2021 High Conviction Call: Seven & I Completes the Speedway Acquisition, But Not Without Trouble

2021 High Conviction Update: Seven & I Has More Room (Perhaps, Another 50%) To the Upside

2021 High Conviction Update: Raises Speedway Synergies, But Leaves Enough Room For Future Upside

Seven & I Holdings: OP Beats Could Continue into 4QFY21

2021 High Conviction - Seven & I Holdings: The March for America

2021 High Conviction Update: 34% More Upside Short-Term Is Not Impossible

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

<p>Our 2021 High Conviction call, <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a> has climbed 5% on the news that the activist hedge fund ValueAct, which accumulated a 4.4% stake in Seven &amp; I Holdings, is in dialogue with Seven &amp; I’s board and the management to restructure the Seven &amp; I group to focus on the 7-Eleven convenience store business.</p><p>ValueAct’s request makes sense as we think Seven &amp; I is better off focusing on the capital-light 7-Eleven convenience store business. We think disposals of the loss-making department store business Sogo &amp; Seibu and supermarket businesses Ito-Yokado and York-Benimaru, including the real estate, would suit Seven &amp; I better than a spin-off (proposed by ValueAct, according to Reuters) as it would help the company to lower its debt burden which rose following the US$21.0bn Speedway petrol stations acquisition.</p>

Our 2021 High Conviction call, Seven &amp; I Holdings (3382 JP) has climbed 5% on the news that the activist hedge fund ValueAct, which accumulated a 4.4% stake in Seven &amp; I Holdings, is in dialogue with Seven &amp; I’s board and the management to restructure the Seven &amp; I group to focus on the 7-Eleven convenience store business.ValueAct’s request makes sense as we think Seven &amp; I is better off focusing on the capital-light 7-Eleven convenience store business. We think disposals of the loss-making department store business Sogo &amp; Seibu and supermarket businesses Ito-Yokado and York-Benimaru, including the real estate, would suit Seven &amp; I better than a spin-off (proposed by ValueAct, according to Reuters) as it would help the company to lower its debt burden which rose following the US$21.0bn Speedway petrol stations acquisition.

Activist Investor Requests Seven & I to Focus on 7-Eleven Convenience Store Business