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

Zinc Prospects and Share Price Fall Make Dowa a Buy Again

Dowa Holdings 4Q Encouraging Across the Board, Lower Guidance than Nikkei Preview Looks Conservative

Dowa Holdings 3Q Results Mixed. Outlook Strong Given One-Offs

Dowa Holdings 1H Estimates Revised Up 17.4%. Our Attached Segmental Model Suggests Further Upside.

Deconstructing Dowa Holdings: Deepening Analysis Using Regressions and Unlisted Company Financials

Japanese and Asian equity long/short strategies

Uzabase

Specialising in Japanese and Asian equity long/short strategies with a focus on rigorous, but targeted quantitative analysis to temper evaluations of company strategy, potential and vision. At Uzabase, our team of analysts provides coverage of industry dynamics with a local Asian flavour on Speeda, our financial information platform. Going forward we are aiming to channel our focus toward thematic research on emerging industries and company research.

Equity Bottom-Up

<p>We visited the company and came away believing that results for this year should be reasonably strong, but that a lack of visibility into next FY could lead the company to offer conservative guidance. Since our initial bullish call, the stock is up 35%, outperforming Topix by 17%. We remain bullish and feel there is 20-30% upside remaining in the stock. However, with the stock doubling since its low in Jun 2016, our expectation for conservative guidance, extremely weak spot treatment charges for…</p>

We visited the company and came away believing that results for this year should be reasonably strong, but that a lack of visibility into next FY could lead the company to offer conservative guidance. Since our initial bullish call, the stock is up 35%, outperforming Topix by 17%. We remain bullish and feel there is 20-30% upside remaining in the stock. However, with the stock doubling since its low in Jun 2016, our expectation for conservative guidance, extremely weak spot treatment charges for…

Dowa Holdings: Lull in Share Price Performance Likely but We Expect Strong FY2018 on Zinc Price/JPY