Senior Technology Analyst, 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.

Senior Technology Analyst, Japanese Equities

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

Pharma Foods International / Equity Bottom-Up

<ul>
<li>Recent gains wiped out as large advertising budget cuts operating and net profit, diverting attention from unique technology and long-term potential.  Gross margin steady at about 80%.</li>
<li>M&amp;A could add 50% to sales, but details won't be available until a deal is made.  Sales of functional food ingredients, supplements, personal care products and textiles continue to rise.  </li>
<li>Pharmaceuticals and agricultural bio-stimulants should make significant contributions to the company's business in the next several years. Buy into current weakness for long-term growth.</li>
</ul>


Recent gains wiped out as large advertising budget cuts operating and net profit, diverting attention from unique technology and long-term potential.  Gross margin steady at about 80%.
M&amp;A could add 50% to sales, but details won't be available until a deal is made.  Sales of functional food ingredients, supplements, personal care products and textiles continue to rise.  
Pharmaceuticals and agricultural bio-stimulants should make significant contributions to the company's business in the next several years. Buy into current weakness for long-term growth.


Pharma Foods International (2929 JP): Unique Bio-Tech Drives Long-Term Growth