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

Isuzu’s Medium-Term Prospects Are a Bright Spot

Isuzu Motors: Strong Q1 Topline and Bottomline Growth; Pricing Is Getting Cheaper

Isuzu-Volvo Strategic Alliance Follows Isuzu’s Purchase of Volvo’s UD Truck Brand

Isuzu (7202)--Possibilities of a Q2 Consensus Beat

Will India Be the Next Big Thing for Isuzu?

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>Isuzu reported strong 2Q earnings with revenue up 9.5% YoY to JPY521bn and OPM flat at 6.63% (down QoQ from 8.54% in 1Q). Consensus was calling for a 2.5% YoY decline in revenue but a higher margin of 7%. For the second half, consensus estimates call for roughly flat revenue YoY and an 8.3% OPM while the company is now guiding for roughly 2.9% YoY revenue growth and an OPM of 8.4%. We believe that very little upside remains on the revenue side for the company and while a weaker yen should help…</p>

Isuzu reported strong 2Q earnings with revenue up 9.5% YoY to JPY521bn and OPM flat at 6.63% (down QoQ from 8.54% in 1Q). Consensus was calling for a 2.5% YoY decline in revenue but a higher margin of 7%. For the second half, consensus estimates call for roughly flat revenue YoY and an 8.3% OPM while the company is now guiding for roughly 2.9% YoY revenue growth and an OPM of 8.4%. We believe that very little upside remains on the revenue side for the company and while a weaker yen should help…

Isuzu: Strong 2Q, Post Regulation Change Slowdown Nowhere to Be Seen but Is That in the Price?