Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

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

Keisei Electric Railway Co / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/keisei-electric-railway-co" target="_blank" data-smartkarma-citation="entities:10876:1" rel="noopener">Keisei Electric Railway Co (9009 JP)</a> shares fell 52% from February 2024 peak, with losses deepening after its conservative mid-term plan and the failed activist board proposal in June 2025.</li>
<li>However, we believe the company’s mid-term guidance is overly conservative and underestimates the company's underlying earnings potential</li>
<li>With depressed valuation, fare-driven revenue growth, and volume recovery potential, we see limited downside and an appealing opportunity for medium-term price appreciation.</li>
</ul>



Keisei Electric Railway Co (9009 JP) shares fell 52% from February 2024 peak, with losses deepening after its conservative mid-term plan and the failed activist board proposal in June 2025.
However, we believe the company’s mid-term guidance is overly conservative and underestimates the company's underlying earnings potential
With depressed valuation, fare-driven revenue growth, and volume recovery potential, we see limited downside and an appealing opportunity for medium-term price appreciation.


京成電鉄：ファンダメンタルズではなく、警戒感から売られ過ぎ