Looking beyond the consensus

Nava Research is an independent equity research firm that looks beyond the well-covered corners of global markets to find compelling businesses.

Our objective is simple: to help professional and institutional investors get up to speed on a slightly offbeat investment idea quickly, without compromising on analytical rigor.

We're starting with Japanese small and mid caps.

Our approach

We publish at least two ideas a week, and our notes rarely run past four pages. We want you to spend your time deciding, not digging.

Each note examines what makes the business distinctive, what the market might be missing, catalysts that could unlock value, return scenarios, and risks to the thesis. Because many of our ideas are thinly traded, we also assess liquidity and what it means for position sizing. Valuation models are available on request.

Our analysis and conclusions are entirely independent. We do not do issuer sponsored research and hold no positions in stocks we research. 

All publications are strictly for informational and educational purposes, and we do not provide price targets, buy/sell recommendations, or personalized investment advice.

Please read our Terms & Disclaimer before subscribing.

Who we are

Adhik Ramanathan,
Principal Analyst

Adhik has spent over 15 years in equity research, covering a range of sectors in the global markets, including semiconductors, technology and financial services. Today, he focuses on smaller companies in under-owned markets, where good businesses are often mispriced. He holds bachelor's and master's degrees in electrical engineering. He is also a CFA charterholder.

You can reach him at adhik@navaresearch.com