A Performance Review on Our Recommended Positions for the Last Six Months

Japan Drilling: Drops 95% on Reorganisation News and Rebounding 51% as NYK Emerges as Sponsor

Japan Drilling: Bankruptcy Possible but Share Price Could Surge 5-10x If NYK Steps In

Ocean Network Express Aims to Generate Massive Operational Synergies and Change Fortunes for 3J

Unseasonal Downtrend to Hurt Bulk Shipping in 4QFY18

K-Line to Shrink Amidst Volatile Market Rates Prevailing in the Shipping Sector

Equity Analyst, LightStream Research

Nuzran Sahib

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 Bottom-Up

<p>The three Japanese shipping majors - NYK, MOL and KKK, all saw their share prices fall following the release of their full-year earnings for FY03/18 on 27th April. MOL’s share price declined 5.4% and K-Line’s and NYK’s share prices dropped 4.2% and 0.9% respectively. All three companies beat their respective company guidance and the average consensus at the top-line but earnings were weak.  We will be having a closer look at the substantial restructuring losses recorded by MOL and other two…</p>

The three Japanese shipping majors - NYK, MOL and KKK, all saw their share prices fall following the release of their full-year earnings for FY03/18 on 27th April. MOL’s share price declined 5.4% and K-Line’s and NYK’s share prices dropped 4.2% and 0.9% respectively. All three companies beat their respective company guidance and the average consensus at the top-line but earnings were weak.  We will be having a closer look at the substantial restructuring losses recorded by MOL and other two…

Market Wary of the Restructuring Cost Despite Outperforming Revenue

Nippon Yusen Kk

Market Wary of the Restructuring Cost Despite Outperforming Revenue