Japan/Asia Long-Short, LightStream Research

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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.

Equity Capital Markets

Macnica Holdings Inc / Equity Capital Markets

On March 2nd <a href="https://www.smartkarma.com/entities/26074" target="_blank" data-smartkarma-citation="entities:26074:1">Macnica Fuji Electronics Hol (3132 JP)</a>, the result of a merger between <a href="https://www.smartkarma.com/entities/2498" target="_blank" data-smartkarma-citation="entities:2498:1">Macnica Inc (7631 JP)</a> and <a href="https://www.smartkarma.com/entities/6691" target="_blank" data-smartkarma-citation="entities:6691:1">Fuji Electronics Co Ltd (9883 JP)</a>, announced that it would conduct a public offering (OP guidance was simultaneously raised 8%), precipitating a 23% fall in the company's share price. The total offering including OA represents 27.5% of outstanding shares, 53.4% of  float (as defined by Bloomberg) and about 65 days of 3 month ADV. Maximum dilution including OA would be about 14%.Issuer:…

On March 2nd Macnica Fuji Electronics Hol (3132 JP), the result of a merger between Macnica Inc (7631 JP) and Fuji Electronics Co Ltd (9883 JP), announced that it would conduct a public offering (OP guidance was simultaneously raised 8%), precipitating a 23% fall in the company's share price. The total offering including OA represents 27.5% of outstanding shares, 53.4% of  float (as defined by Bloomberg) and about 65 days of 3 month ADV. Maximum dilution including OA would be about 14%.Issuer:…

Japan

MACNICA, Inc. sells semiconductor devices and electronic components.  The Company's products include integrated circuits (IC), application-specific IC (ASIC), memories, liquid crystal display (LCD), hybrid IC, modules, sockets, connectors, switches and network equipment.

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Macnica Inc (7631 JP)

Macnical Failure

On March 2nd Macnica Fuji Electronics Hol (3132 JP), the result of a merger between Macnica Inc (7631 JP) and Fuji Electronics Co Ltd (9883 JP),...

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