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

Sony – EV Partnership Is Excellent for Sony but Highlights Honda’s Struggles

Sony – New PlayStation Plus Plans Illustrate Overwhelming Superiority Vs. XBox

Honda – Interpreting the Evolving GM Partnership for EVs

Honda – Unnecessary Downgrade but Not Especially Cheap

Honda – Strong Start as Developed Market Motorcycles Contribute

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

<ul>
<li>When Honda reported its 2QFY22 results it revised OP guidance down and we said that unnecessary. </li>
<li>Indeed, with 3Q now out they revised guidance UP, above where it was at 3Q, making the revision pattern look like ¥660bn &gt; ¥ 780bn &gt; ¥660bn &gt; ¥800bn. </li>
<li>That remains conservative and the company should beat though we still see limited upside until next year’s prospects start to be priced in.</li>
</ul>


When Honda reported its 2QFY22 results it revised OP guidance down and we said that unnecessary. 
Indeed, with 3Q now out they revised guidance UP, above where it was at 3Q, making the revision pattern look like ¥660bn &gt; ¥ 780bn &gt; ¥660bn &gt; ¥800bn. 
That remains conservative and the company should beat though we still see limited upside until next year’s prospects start to be priced in.


Honda – Back and Forth OP Guidance Revisions

Honda Motor

Honda – Back and Forth OP Guidance Revisions