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

<ul>
<li>Sales are growing again and the company has turned profitable with capacity utilization up and costs down. Guidance for 2H of FY Mar-26 looks conservative. </li>
<li>Sales of power devices is rising after a long period of weakness, supported by auto, industrial and data center related demand.</li>
<li>Projected valuations are once again reasonable. The share price should continue to trend upwards.</li>
</ul>


Sales are growing again and the company has turned profitable with capacity utilization up and costs down. Guidance for 2H of FY Mar-26 looks conservative. 
Sales of power devices is rising after a long period of weakness, supported by auto, industrial and data center related demand.
Projected valuations are once again reasonable. The share price should continue to trend upwards.


Rohm (6963 JP): Renewed Growth, Conservative Guidance & Reasonable Valuation

ROHM Co Ltd

Rohm (6963 JP): Renewed Growth, Conservative Guidance & Reasonable Valuation