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

Sansan 4QFY05/20 Results: First Full-Year of Operating Profits Despite Covid-19 Impact

Small Cap Growth: SanSan (4443) - Expert Card Player

Japan Small Cap Growth - Sansan (4443) | Still a Long Way to Go

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 Capital Markets

<a href="https://www.smartkarma.com/entities/sansan-inc/overview" target="_blank" rel="noopener">Sansan Inc. (4443 JP)</a>, the business card digitisation company reported its full-year FY05/2019 results on Friday (12th July 2019). The company was listed on the TSE Mothers Market on 19th June 2019 and these are the first results post the company’s IPO debut.
The full-year and the fourth quarter results for FY05/2019 saw strong growth in revenue while the company’s operating losses have declined significantly. For FY05/2020E, Sansan expects its topline growth to continue while it expects to report its first Operating Profits during the year as well as net profits.
Since the company shares started trading last month, the shares have gained nearly 30% to JPY5,810 per share at the end of Friday’s trade. However, based on our estimates, we believe the company shares are currently undervalued and deserve a premium to their current trading multiple. Furthermore, the company being able to generate positive returns in the near future should further boost share prices.
We discuss the details below.

Sansan Inc. (4443 JP), the business card digitisation company reported its full-year FY05/2019 results on Friday (12th July 2019). The company was listed on the TSE Mothers Market on 19th June 2019 and these are the first results post the company’s IPO debut.
The full-year and the fourth quarter results for FY05/2019 saw strong growth in revenue while the company’s operating losses have declined significantly. For FY05/2020E, Sansan expects its topline growth to continue while it expects to report its first Operating Profits during the year as well as net profits.
Since the company shares started trading last month, the shares have gained nearly 30% to JPY5,810 per share at the end of Friday’s trade. However, based on our estimates, we believe the company shares are currently undervalued and deserve a premium to their current trading multiple. Furthermore, the company being able to generate positive returns in the near future should further boost share prices.
We discuss the details below.

Sansan、IPO後初の決算発表：売上高は増加、損失は縮小、2020年5月期（予）は黒字化を見込む