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

Metrocirc Production Issues Open Buying Opportunity

Increasingly Positive on Robots and Inverters, Hoping for a Servomotor Hiccup to Buy on a Dip

Murata: Diversification into New Markets and M&A to Propel Long-Term Growth

Fanuc: 1Q Could Be Peak of Good News with Earnings Falling in 2H

Fanuc: Orders Peaked in 1Q, Sector Share Prices Weak, This Could Be the Top

Yaskawa: Still Like the LT Prospects but It's Finally Time to Exit (For Now)

If You Like Robotics but Find Current Conditions Frothy, Nabtesco Is a Great, Not Good, Compromise

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>Fanuc reported strong 3Q results on Friday with OP up 84% YoY and 9% QoQ. The company revised OP guidance up by 7.6% to JPY224.9bn, 5% above consensus which was at about JPY214bn. The stock reacted positively to this initially, opening as much as 4.6% higher before drifting down and is now barely positive, up 0.2%. Robotics stocks have been reacting relatively weakly despite strong earnings as both Yaskawa and Fanuc have generated solid quarters but seen weakish share prices. There was a similar…</p>

Fanuc reported strong 3Q results on Friday with OP up 84% YoY and 9% QoQ. The company revised OP guidance up by 7.6% to JPY224.9bn, 5% above consensus which was at about JPY214bn. The stock reacted positively to this initially, opening as much as 4.6% higher before drifting down and is now barely positive, up 0.2%. Robotics stocks have been reacting relatively weakly despite strong earnings as both Yaskawa and Fanuc have generated solid quarters but seen weakish share prices. There was a similar…

Fanuc: A Look at Valuation Post Strong 3Q

Fanuc Corp

Fanuc: A Look at Valuation Post Strong 3Q