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

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 Capital Markets

Forum Engineering Inc / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/forum-engineering-inc" target="_blank" data-smartkarma-citation="entities:28896:1" rel="noopener">Forum Engineering Inc (7088 JP)</a> is expected to list on the 9<sup>th</sup> of March 2020 on the first section of the Tokyo Stock Exchange.</li>
<li>The company was established in 1981 as a company that offers engineer dispatch services in Japan.</li>
<li>As of 01<sup>st</sup> January 2020, the company had 4,352 technical employees and currently, revenue from engineering dispatch services accounts for 99.6% of its total revenue.</li>
<li>The company offers dispatching services mainly to eight major industries in Japan, namely automobiles, transport machinery, industrial machinery, precision equipment, electrical equipment, home appliances, electronic components, and information and communication.</li>
<li>The company has set a price range of ¥1,310 to ¥1,410, with an IPO size of ¥13.5bn at the higher-price end.</li>
<li>The IPO will sell 9.7m (4.5m to domestic investors and 5.2m to overseas investors) existing shares (36% of the shares outstanding) with an over-allotment option for another 674,800 shares.</li>
</ul>



Forum Engineering Inc (7088 JP) is expected to list on the 9th of March 2020 on the first section of the Tokyo Stock Exchange.
The company was established in 1981 as a company that offers engineer dispatch services in Japan.
As of 01st January 2020, the company had 4,352 technical employees and currently, revenue from engineering dispatch services accounts for 99.6% of its total revenue.
The company offers dispatching services mainly to eight major industries in Japan, namely automobiles, transport machinery, industrial machinery, precision equipment, electrical equipment, home appliances, electronic components, and information and communication.
The company has set a price range of ¥1,310 to ¥1,410, with an IPO size of ¥13.5bn at the higher-price end.
The IPO will sell 9.7m (4.5m to domestic investors and 5.2m to overseas investors) existing shares (36% of the shares outstanding) with an over-allotment option for another 674,800 shares.


Forum Engineering IPO: Cheap Valuation But Prevailing Economic Conditions Could Delay Any Upside