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

HCM – Obvious Upgrade Is Obvious… Just Not to the Sell Side

HCM – Obvious Blowout Is Obvious… Just Not to the Sell Side

Komatsu – Sensible Top Line Guidance But Margins Too Conservative

Japan's Governance: Hitachi Construction Machinery (6305): Extraordinary Briefing Session

Hitachi Construction Machinery Deal To Change "Parent" - There's Not Much There There

HCM – Hitachi Partial Stake Sale to Itochu

Hitachi Finally Bailing on Hitachi Construction (6305); Too Early To Buy

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

Hitachi Construction Machinery / Equity Bottom-Up

<ul>
<li>Hitachi Construction Machinery continues to trade under ¥3,000 following the revelation that it would not be bought out by Hitachi. </li>
<li>There was little new at its conference call following the Itochu stake purchase announcement save some potential positives on the logistics front. </li>
<li>Nevertheless, with the stock trading at five-year lows vs. TOPIX and Komatsu, and consensus looking light we are extremely bullish here.</li>
</ul>


Hitachi Construction Machinery continues to trade under ¥3,000 following the revelation that it would not be bought out by Hitachi. 
There was little new at its conference call following the Itochu stake purchase announcement save some potential positives on the logistics front. 
Nevertheless, with the stock trading at five-year lows vs. TOPIX and Komatsu, and consensus looking light we are extremely bullish here.


Hitachi Construction Machinery

HCM – Buy for the Commodity Upswing