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

Toshiba Tec – Thinking About a Toshiba Tec for Fujitsu General Swap

Fujitsu General – Consensus Looks Light

Fujitsu General – 36% Above December Levels, What’s the Trade Now?

Hitachi Metals – Limited Upside Despite Bain Capital News But Let’s Find the Offshoot Ideas

Hitachi Metals – If You Still Own This It May Be Worth Selling Prior to an Acquisition Announcement

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.

Event-Driven

<p>We had previously suggested that Fujitsu General might significantly beat earnings given past seasonality trends. It actually missed with OP of ¥18.4bn undershooting guidance of ¥19bn. However, that is due to a ¥3.6bn impact from volume shortfalls that appear to have been caused by semiconductor shortages and supply constraints for container shipping. We believe the recent weakness in the stock could thus be an opportunity.</p>

We had previously suggested that Fujitsu General might significantly beat earnings given past seasonality trends. It actually missed with OP of ¥18.4bn undershooting guidance of ¥19bn. However, that is due to a ¥3.6bn impact from volume shortfalls that appear to have been caused by semiconductor shortages and supply constraints for container shipping. We believe the recent weakness in the stock could thus be an opportunity.

Fujitsu General – Earnings Miss Is an Opportunity