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

Ibiden (4062 JP): Another Chance for Long-Term Investors

Shinko Electric (6967 JP): Reality Check - Risk on the Downside

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>Share price down 35% since last December,  probably because FY Mar-23 guidance seems over-optimistic. Gearing to falling demand and rising costs is high.</li>
<li>Sales and profits should eventually rebound as 5G smart phone and data center related demand continue to grow, and after new capacity comes on line in 2024.</li>
<li>First rate IC substrate and printed wiring board technology, and sound finances, make the company a candidate for long-term investment.</li>
</ul>


Share price down 35% since last December,  probably because FY Mar-23 guidance seems over-optimistic. Gearing to falling demand and rising costs is high.
Sales and profits should eventually rebound as 5G smart phone and data center related demand continue to grow, and after new capacity comes on line in 2024.
First rate IC substrate and printed wiring board technology, and sound finances, make the company a candidate for long-term investment.


Ibiden (4062 JP): Guidance Looks Too High, but Dropping Toward an Entry Point

Ibiden Co Ltd

Ibiden (4062 JP): Guidance Looks Too High, but Dropping Toward an Entry Point