Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Japan Weekly | Fast Retailing, Disco, Nidec

Good Morning Japan |Hawkish ECB + US Retail Miss Fan Recession Fears - Equities Take It on the Chin

Fast Retailing (9983) | Elevated Multiple and Guidance Risk

Gravity Works As WeWork Doesn't; Now Plan B

Fast Retailing (9983) | Time to Ditch the Shorts

Equity Bottom-Up

<ul>
<li>We were Bearish on Fast Retailing, mainly due to valuation concerns against global peers. That view still stands.</li>
<li>We expected cautious guidance reflecting a harsh macro environment. Fast surprised with bullish guidance. That could be a risk.</li>
<li>We highlight the key slides from the results presentation and re-iterate our view that Fast should not trade at such a premium to its global peers</li>
</ul>


We were Bearish on Fast Retailing, mainly due to valuation concerns against global peers. That view still stands.
We expected cautious guidance reflecting a harsh macro environment. Fast surprised with bullish guidance. That could be a risk.
We highlight the key slides from the results presentation and re-iterate our view that Fast should not trade at such a premium to its global peers


Fast Retailing (9983) | Fantastic Execution at Fantastical Valuation