Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, 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

CyberAgent: Strong 2Q Results Driven by Gaming; Upward Revisions to Full-Year Forecasts

Recruit Holdings: Recovery in HR Tech but Other Segments Still Struggling

TME: Strong 1Q Driven by Record Online Music User Adds; Shares Fall Amidst Regulatory Scrutiny

M3 3Q Results: Strong Growth in Earnings Driven by Medical and Overseas Businesses

IFast 1Q21 Results: Strong Earnings Momentum Continues

M3 Inc: Strong Earnings Momentum Continues

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

We Doctor Pre-IPO: Growing Scale and Expanding Revenues to Help Reach Profits

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

<p><a href="https://www.smartkarma.com/entities/m3-inc" target="_blank" data-smartkarma-citation="entities:13316:1" rel="noopener">M3 Inc (2413 JP)</a>  reported its 4QFY03/21 and full-year FY03/2021 results on Friday. The company’s revenue for 4QFY03/21 grew 31.1% YoY while operating income for the quarter more than doubled to JPY15.5bn.</p><p>For full-year FY03/21, m3’s revenue grew 29% YoY while operating profit for the year increased 69% YoY (+74% YoY on a comparable basis). Both revenue and OP for the year were a touch higher than consensus estimates.</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/202/605/original/image_37571584521619393056990.png?1619393057" class="editor-image img-responsive" data-smartkarma-image-id="202605"></figure>

M3 Inc (2413 JP)  reported its 4QFY03/21 and full-year FY03/2021 results on Friday. The company’s revenue for 4QFY03/21 grew 31.1% YoY while operating income for the quarter more than doubled to JPY15.5bn.For full-year FY03/21, m3’s revenue grew 29% YoY while operating profit for the year increased 69% YoY (+74% YoY on a comparable basis). Both revenue and OP for the year were a touch higher than consensus estimates.

M3: Robust FY03/2021 Earnings Driven by Pandemic; Shares Are Still Expensive Even After Recent Drop