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    Lucas Dai Nagano

    Research Analyst at Morgan Stanley

    Lucas Dai Nagano is an Equity Research Associate at Morgan Stanley, specializing in Latin American education and technology companies. He actively covers listed firms such as Vasta Platform Ltd, Arco Platform Ltd, and Vitru Ltd, participating in earnings calls and providing analysis on operational and financial performance; however, specific performance metrics or track record data have not been publicly disclosed. Nagano began his career in equity research and currently holds an associate-level position at Morgan Stanley, but detailed information about his prior roles or the exact date he joined the firm remains unavailable. His professional credentials, including possible FINRA registration or securities licenses, are not published in accessible sources.

    Lucas Dai Nagano's questions to LAUREATE EDUCATION (LAUR) leadership

    Lucas Dai Nagano's questions to LAUREATE EDUCATION (LAUR) leadership • Q2 2025

    Question

    Lucas Dai Nagano of Morgan Stanley inquired about the development of Laureate's online learning programs in Peru, its comparison to Mexico, and details on new campus openings, including their locations, brands, demand, and impact on capital expenditures.

    Answer

    President & CEO Eilif Serck-Hanssen explained that Peru's online segment is growing in the double digits post-regulatory changes, mirroring Mexico's successful model. He confirmed two new campuses opening in September: a Unitech campus in Monterrey, Mexico, and a UPN campus in Lima, Peru. He also outlined the capital expenditure model, stating that supporting enrollment growth of around 6% requires CapEx of approximately 5% of revenue, which accommodates one to two new campus launches per year.

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