Independent Insight Provider, Japanese equities, LightStream Research

Scott Foster

Securities analyst covering electronics, precision equipment & robotics, engineering, construction, transport and other sectors for more than 25 years in Japan and 3 years in Korea. Permanent resident of Japan.

Independent Insight Provider, Japanese equities

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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>After beating guidance every quarter last fiscal year, Disco fell short in the three months to June.</li>
<li>Management is guiding for the usual seasonal rebound in 2Q, but year-on-year growth rates are forecast to drop sharply - most likely on their way to negative territory in 2H.</li>
<li>Disco has stopped disclosing orders data, reducing visibility for investors. 2Q results are likely to be the next catalyst. We see no reason to jump in now.</li>
</ul>


After beating guidance every quarter last fiscal year, Disco fell short in the three months to June.
Management is guiding for the usual seasonal rebound in 2Q, but year-on-year growth rates are forecast to drop sharply - most likely on their way to negative territory in 2H.
Disco has stopped disclosing orders data, reducing visibility for investors. 2Q results are likely to be the next catalyst. We see no reason to jump in now.


Disco (6146 JP): YoY Growth Headed Toward Zero

DISCO Corp

Disco (6146 JP): YoY Growth Headed Toward Zero