Japan/Asia Long-Short, LightStream Research

Mio Kato

Over 15 years analysing Japanese and Asian stocks from a long/short perspective

I focus on cyclically driven sectors such as Gaming, Factory Automation and Autos

An eclectic background as a long-short analyst, upper management at a financial data startup through its listing, and as the founder of a team analysing big/alternative data, all of which supports independent and differentiated views... we hope

An appreciation for Mathematics drives the development of a "Micro-Quantamental" process which can provide a data-driven, historically-informed and semi-automated foundation upon which to layer more qualitative and judgemental analysis, thus improving investment decision-making speed and accuracy

Japan/Asia Long-Short

Appier Offering – Profile Remains Attractive

Appier – Baby Thrown Out With the Bathwater Number One

Appier Group IPO – Valuation, Peer Comparison and Recent IPO Comparison

Appier Group IPO – First Day Trading – Worth Adding

Appier Group IPO – AI and Recurring Revenue Should Make This Pop but This Isn’t Just a Buzzword Play

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 Bottom-Up

<p>Appier Group reported results yesterday which were good but not great as revenue increased 31% YoY in USD terms with ARR up 38%. The company maintained the gross margin boost it saw in 2H20 and thus the results overall looked strong, but the revenue acceleration that we hoped for did not come through.</p>

Appier Group reported results yesterday which were good but not great as revenue increased 31% YoY in USD terms with ARR up 38%. The company maintained the gross margin boost it saw in 2H20 and thus the results overall looked strong, but the revenue acceleration that we hoped for did not come through.

Appier Group

Appier Group – Good but Not Great