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

Conviction Call Sony – No Way Home to the Spider-Verse?

Conviction Call Sony – PlayStation Showcase Underlines Strength of Pipeline

Sony Bull Bet off Trendline Nearing First Resistance

Conviction Call Sony – Integrating ESports and Betting Into the Gaming Ecosystem

Sony – 2021 Conviction Call Hiding Profits

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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>Sony reported solid but not spectacular numbers at earnings and revised up guidance that was absurdly conservative slightly. It remains absurdly conservative and we expect further upward revisions as the year progresses driven mostly on the margin side for the Music, EP&amp;S and I&amp;SS segments. There is upside for the G&amp;NS segment as well but this depends to an extent on cost reductions for PS5 hardware.</p>

Sony reported solid but not spectacular numbers at earnings and revised up guidance that was absurdly conservative slightly. It remains absurdly conservative and we expect further upward revisions as the year progresses driven mostly on the margin side for the Music, EP&amp;S and I&amp;SS segments. There is upside for the G&amp;NS segment as well but this depends to an extent on cost reductions for PS5 hardware.

Conviction Call Sony – Revised Guidance Still Extremely Conservative

Sony Corp

Conviction Call Sony – Revised Guidance Still Extremely Conservative