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

Honda – Strong Margins but Downward Volume Guidance Revision Leaves a Bad Impression

Honda – Margin Guidance Is Conservative but Credit Provisions Could Still Drive a YoY Decline

Honda: Detroit Manufacturers Exiting Car Production and C Segment In Particular, Is Positive

Honda – GM Strategic Alliance Unlikely to Achieve Much

Nissan – Two Strikes For the Alliance and a Zero Dividend

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>Honda delivered strong 2Q results with operating margins in particular surprising to the upside. There were some small concerns on earnings quality as a reduction in SG&amp;A spend was a key driver of profitability and the sustainability of that trend is a question mark.</p>

Honda delivered strong 2Q results with operating margins in particular surprising to the upside. There were some small concerns on earnings quality as a reduction in SG&amp;A spend was a key driver of profitability and the sustainability of that trend is a question mark.

Honda – Profit Jump as Costs Are Suppressed

Honda Motor

Honda – Profit Jump as Costs Are Suppressed