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

Showa Denko – Showa Me the Synergies…?

Showa Denko Pays BIG MONEY for Hitachi Chem (4217)

Hitachi Chemical: How Can You Justify an ¥800bn Valuation?

Showa Denko - Hitachi Chemicals Acquisition Could Be Accretive… Eventually

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>This morning the Nikkei reported that Showa Denko’s tender offer for Hitachi Chemical would be delayed into March or later due to delays obtaining regulatory approval. This caused the shares to drop 1% on the day and 1.7% below the offer price. We spoke to Showa Denko to ascertain whether concern was warranted. Our thoughts below.</p>

This morning the Nikkei reported that Showa Denko’s tender offer for Hitachi Chemical would be delayed into March or later due to delays obtaining regulatory approval. This caused the shares to drop 1% on the day and 1.7% below the offer price. We spoke to Showa Denko to ascertain whether concern was warranted. Our thoughts below.

Hitachi Chemicals – Is Antitrust a Concern?