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

Japan Airport Terminal (9706): Olympic Is Coming

Japan Airport (9706): Not the Best Proxy for Japan Reopening.

Japan Airport Terminal (9706 JP, SELL, TP: JPY5,364): Weak JPY Can't Overcome Fundamental Challenges

Japan Airport Terminal – Ballooning Depreciation into an Uncertain Demand Environment

Japan Airport Terminal (9706): Olympic and COVID-19

Japan Airport Terminal (9706): Close Border Means Weak Revenues?

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 Capital Markets

Japan Airport Terminal Co / Equity Capital Markets

<p>Japan Airport Terminal announced a roughly ¥60bn equity offering yesterday as the company seeks to expand its terminals. The balance sheet was not especially strong prior to the offering and with depreciation costs already rising due to previous investments we have some concerns about continued aggressive investment when the demand outlook is so unclear.</p>

Japan Airport Terminal announced a roughly ¥60bn equity offering yesterday as the company seeks to expand its terminals. The balance sheet was not especially strong prior to the offering and with depreciation costs already rising due to previous investments we have some concerns about continued aggressive investment when the demand outlook is so unclear.

Japan Airport Terminal Offering – Remains Perplexingly Pricey