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

2022 High Conviction – Solar and Auto Production Play Dowa Holdings Drives Towards the Sunrise

A Belated Look Back at Our 2020 and 2021 Conviction Calls and a Look Ahead to 2022

Smartkarma Webinar | Understanding Japanese Companies: Insights from LightStream Research

Dowa – Gearing Into Inflation Expectations, Auto Recovery and Solar

Dowa Holdings – 2.1% Selloff on 20.7% Upward Revision

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

<ul>
<li>Dowa Holdings revised up its guidance from ¥58bn to ¥61bn at the OP level.</li>
<li>Based on historical trends if it can sustain that level of profit generation upside of 60% or more is plausible.</li>
<li>While there is risk of a YoY decline we actually believe that recovering auto production could drive a YoY rise.</li>
</ul>


Dowa Holdings revised up its guidance from ¥58bn to ¥61bn at the OP level.
Based on historical trends if it can sustain that level of profit generation upside of 60% or more is plausible.
While there is risk of a YoY decline we actually believe that recovering auto production could drive a YoY rise.


Dowa Holdings – Firing on All Cylinders