Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Fujifilm: An Inspiring Transformation Story

Money Forward: Top Line Expands, Yet to See Meaningful Turnaround in Profitability

Takeda Strengthens Oncology Portfolio with HUTCHMED’s Fruquintinib Acquisition

Recruit 2Q: Outlook for HR Tech Business Becomes Challenging

Money Forward: Top Line Beats Consensus but Losses Widen Further

Freee: Medium-Term Plan Seems Attainable but Profits to Delay

Gravity Works As WeWork Doesn't; Now Plan B

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>
<a href="https://www.smartkarma.com/entities/Freee-kk" target="_blank" data-smartkarma-citation="entities:28424:1" rel="noopener">freee (4478 JP)</a> reported 1QFY06/2023 results yesterday. Revenue increased 34.5% YoY to JPY4.24bn (vs consensus JPY4.18) driven by 23.5% YoY growth in paying customers to 386,655 from 313,206 in 1QFY06/2022.</li>
<li>As expected, operating losses widened to 24.6% of revenue, however, reported losses of JPY1.0bn was well below consensus estimate of JPY1.6bn.</li>
<li>Freee’s share price has moved up by about 5% following earnings announcement which shows that the market is confident over freee’s ability to turn around its profitability.</li>
</ul>



freee (4478 JP) reported 1QFY06/2023 results yesterday. Revenue increased 34.5% YoY to JPY4.24bn (vs consensus JPY4.18) driven by 23.5% YoY growth in paying customers to 386,655 from 313,206 in 1QFY06/2022.
As expected, operating losses widened to 24.6% of revenue, however, reported losses of JPY1.0bn was well below consensus estimate of JPY1.6bn.
Freee’s share price has moved up by about 5% following earnings announcement which shows that the market is confident over freee’s ability to turn around its profitability.


Freee: Earnings Beat and Losses Widen as Freee Focuses on Mid-To-Long Term Plan

Freee KK

Freee: Earnings Beat and Losses Widen as Freee Focuses on Mid-To-Long Term Plan