'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

Former Japan Equity PM with over 30 of experience now providing database-driven analysis of the market, sectors, peer groups and stocks for LightStream Research.

Leveraging data and graphic analysis provided by Japan Analytics, and the related Japan Analytics iPad App, we provide insights on companies are often ignored by the sell-side as well as challenging conventional wisdom on the market overall.

'Quantamental' Japan Specialist

🇯🇵 JAPAN • Results & Revisions 04/​​​​​09 - Aeon, Giken & Takeuchi

🇯🇵 JAPAN • Results & Revisions 04/​​​​​​13 - Pasona (Grata) & J Front Retailing

🇯🇵 JAPAN • Results & Revisions 04/​​​​​​​14 - Finding Value in ABC-MART & Doutor Nichires

🇯🇵 JAPAN • Results & Revisions 04/​​​07 - Bellsystem24, Welcia & DIP

🇯🇵 JAPAN • Results & Revisions 03/​​​​23 - No Relief for Hisamitsu

🇯🇵 JAPAN • Results & Revisions 04/​​06  -Sugi, San-A & Lawson

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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.

Thematic (Sector/Industry)

Japan Consumer discretionary / Thematic (Sector/Industry)

• LARGER CAP RESULTS - 8th APRIL •<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/593/original/image_50653961221617916076677.png?1617916077" class="editor-image img-responsive" data-smartkarma-image-id="199593"></figure><div class="content-caption"> Source for all charts &amp; tables: Japan Analytics </div>RESULTS - 48% of Thursday's 29 results announcements scored positively; however, of the largest caps, only <a href="https://www.smartkarma.com/entities/fast-retailing-co-ltd" target="_blank" data-smartkarma-citation="entities:751:1" rel="noopener">Fast Retailing (9983 JP)</a> and <a href="https://www.smartkarma.com/entities/shift-inc" target="_blank" data-smartkarma-citation="entities:7266:1" rel="noopener">Shift (3697 JP)</a> had that distinction. <a href="https://www.smartkarma.com/entities/aeon-mall-co-ltd" target="_blank" data-smartkarma-citation="entities:5262:1" rel="noopener">AEON Mall (8905 JP)</a> and <a href="https://www.smartkarma.com/entities/lawson-inc" target="_blank" data-smartkarma-citation="entities:1040:1" rel="noopener">Lawson Inc (2651 JP)</a>, both of which had revised down in the recent weeks, anchored the bottom of the table.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/595/original/image_25682293741617916377763.png?1617916379" class="editor-image img-responsive" data-smartkarma-image-id="199595"></figure>• FORECASTS/REVISIONS - 8th APRIL •<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/596/original/image_76440807551617916411847.png?1617916413" class="editor-image img-responsive" data-smartkarma-image-id="199596"></figure>FORECASTS/REVISIONS - Conversely, 81% of annual forecasts were positive, with Aeon Mall and Lawson particularly optimistic about FY22. Fast Retailing, which only has six months left to forecast, was more circumspect. For the second year in a row, <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I (3382 JP)</a> did not make an initial forecast with the full-year results. <figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/597/original/image_28112384961617916762514.png?1617916763" class="editor-image img-responsive" data-smartkarma-image-id="199597"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/598/original/image_37677060271617916798074.png?1617916799" class="editor-image img-responsive" data-smartkarma-image-id="199598"></figure>

• LARGER CAP RESULTS - 8th APRIL • Source for all charts &amp; tables: Japan Analytics RESULTS - 48% of Thursday's 29 results announcements scored positively; however, of the largest caps, only Fast Retailing (9983 JP) and Shift (3697 JP) had that distinction. AEON Mall (8905 JP) and Lawson Inc (2651 JP), both of which had revised down in the recent weeks, anchored the bottom of the table.• FORECASTS/REVISIONS - 8th APRIL •FORECASTS/REVISIONS - Conversely, 81% of annual forecasts were positive, with Aeon Mall and Lawson particularly optimistic about FY22. Fast Retailing, which only has six months left to forecast, was more circumspect. For the second year in a row, Seven &amp; I (3382 JP) did not make an initial forecast with the full-year results. 

🇯🇵 JAPAN • Results & Revisions 04/​​​​08 - 7&I Fast Re and Hisamitsu Dreams

Japan Consumer Discretionary

🇯🇵 JAPAN • Results & Revisions 04/08 - 7&I Fast Re and Hisamitsu Dreams

Japan Consumer Discretionary

🇯🇵 JAPAN • Results & Revisions 04/​​​​08 - 7&I Fast Re and Hisamitsu Dreams

🇯🇵 JAPAN • Results & Revisions 04/08 - 7&I Fast Re and Hisamitsu Dreams