Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

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.

Thematic (Sector/Industry)

<p>eSports offer intriguing investment possibilities to investors given very large projected TAMs, high growth rates and links to a variety of other fast growing industries including games, streaming, animation, tech hardware and social media. This makes eSports important to understand and below we examine key themes that investors should be aware of, before delving into a full primer on the space, companies with exposure to eSports, Asian eSports franchises and key eSports games to be aware of.</p>

eSports offer intriguing investment possibilities to investors given very large projected TAMs, high growth rates and links to a variety of other fast growing industries including games, streaming, animation, tech hardware and social media. This makes eSports important to understand and below we examine key themes that investors should be aware of, before delving into a full primer on the space, companies with exposure to eSports, Asian eSports franchises and key eSports games to be aware of.

Equity Bottom-Up

<p>Nintendo held its first Nintendo Direct in a while today, announcing a number of ported titles, remasters, expansions and providing an updated trailer for Monster Hunter Rise. They also announced a remaster of the Wii’s Legend of Zelda: Skyward Sword for a July release and the next Splatoon title, set to release in 2022.</p>

Nintendo held its first Nintendo Direct in a while today, announcing a number of ported titles, remasters, expansions and providing an updated trailer for Monster Hunter Rise. They also announced a remaster of the Wii’s Legend of Zelda: Skyward Sword for a July release and the next Splatoon title, set to release in 2022.

Nintendo – Direct Points to Improving Third Party Support and Holiday Launch for New Switch

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>On our next Webinar, we welcome Insight Provider <a href="https://www.smartkarma.com/profiles/mio-kato" target="_blank" data-smartkarma-citation="accounts:713" rel="noopener">Mio Kato</a> to discuss stalwart Japanese video game publishers <a href="https://www.smartkarma.com/entities/koei-tecmo-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20277:1" rel="noopener">Koei Tecmo Holdings (3635 JP)</a> and <a href="https://www.smartkarma.com/entities/capcom-co-ltd" target="_blank" data-smartkarma-citation="entities:1459:1" rel="noopener">Capcom Co Ltd (9697 JP)</a> , both positioned for a strong 2021 with strong product line-ups and high demand from their audience.</p>
<h3>The webinar was hosted on Wednesday, 17 February 2021, 17:00 SGT/HKT.<a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=85686282338" target="_blank" rel="noopener"></a>
</h3>
<p>Watch the session here:</p>
<p><iframe src="https://www.youtube.com/embed/fYxbY5zAYxU" width="560" height="315" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<p>Or subscribe to the podcast feed and listen on the go:</p>
<p><iframe src="https://open.spotify.com/embed-podcast/episode/5a7l2cL9wvaXrZ09mJQhB3" width="100%" height="232" frameborder="0" allowtransparency="true" allow="encrypted-media"></iframe></p>
<p>Mio Kato has over 15 years of experience looking at Japanese and Asian cyclically driven sectors such as Gaming, Factory Automation and Autos. He was previously with FrontPoint Partners LP, Arrowhawk Capital Partners, and Uzabase before founding LightStream Research.</p>

On our next Webinar, we welcome Insight Provider Mio Kato to discuss stalwart Japanese video game publishers Koei Tecmo Holdings (3635 JP) and Capcom Co Ltd (9697 JP) , both positioned for a strong 2021 with strong product line-ups and high demand from their audience.
The webinar was hosted on Wednesday, 17 February 2021, 17:00 SGT/HKT.

Watch the session here:

Or subscribe to the podcast feed and listen on the go:

Mio Kato has over 15 years of experience looking at Japanese and Asian cyclically driven sectors such as Gaming, Factory Automation and Autos. He was previously with FrontPoint Partners LP, Arrowhawk Capital Partners, and Uzabase before founding LightStream Research.

Smartkarma Webinar | Koei Tecmo - Capcom: Warriors and Monster Hunters on the Rise

<p>Capcom’s 3Q results looked ho-hum on the surface, but we believe that looking beneath the surface points to increasing confidence within the company and with Monster Hunter Rise and Resident Evil 8 gearing up for launch, we believe the next two quarters will be historic for the company.</p>

Capcom’s 3Q results looked ho-hum on the surface, but we believe that looking beneath the surface points to increasing confidence within the company and with Monster Hunter Rise and Resident Evil 8 gearing up for launch, we believe the next two quarters will be historic for the company.

Capcom – Profit Hiding Points to Two Blowout Quarters Upcoming

<p>Sony remains our top pick for the year in the gaming space and overall, however, we believe catalysts are setting up to make Capcom exceptionally attractive on the long side over the next three to four months. Yesterday’s upward revision, <a href="https://www.smartkarma.com/insights/japan-results-revisions-01-21-capcom-infomart-isi-d" target="_blank" rel="noopener">as covered by Campbell</a>, was just the beginning, but we do agree it is getting stretched in terms of valuation… so get ready for the grand finale, at least temporarily.</p>

Sony remains our top pick for the year in the gaming space and overall, however, we believe catalysts are setting up to make Capcom exceptionally attractive on the long side over the next three to four months. Yesterday’s upward revision, as covered by Campbell, was just the beginning, but we do agree it is getting stretched in terms of valuation… so get ready for the grand finale, at least temporarily.

Capcom – Top Conviction Short Term as Resident Evil Should Drive a Scary Rally

Japan

CAPCOM CO., LTD. develops consumer video game software.  The Company also develops, manufactures, markets, and leases arcade game machines.  Capcom also operates amusement facilities.

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Capcom Co Ltd (9697 JP)

ESports – Entering the Third Innings

In this Smartkarma Original we examine the state of eSports in Asia, examining differences with traditional sports and the games, teams and...

Mio Kato

Nintendo – Direct Points to Improving Third Party Support and Holiday Launch for New Switch

The Nintendo Direct today showcased titles from Square Enix, Capcom, Koei Tecmo and Nintendo itself, pointing to a moderately strong pipeline...

Mio Kato

Smartkarma Webinar | Koei Tecmo - Capcom: Warriors and Monster Hunters on the Rise

On 17 Feb, 5pm SGT, join us and Mio Kato to discuss stalwart Japanese video game publishers Koei Tecmo and Capcom , both positioned for a strong...

Smartkarma Research

Capcom – Profit Hiding Points to Two Blowout Quarters Upcoming

Despite ho-hum 3Q results, with Monster Hunter Rise and Resident Evil 8 gearing up for launch, we believe the next two quarters will see historic...

Mio Kato

Capcom – Top Conviction Short Term as Resident Evil Should Drive a Scary Rally

We believe several catalysts are setting up to make Capcom exceptionally attractive on the long side over the next three to four months.

Mio Kato

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