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

Keyence (6861 JP): Undermined by Weak Demand and Uncertainty

Keyence – Moderating SG&A Deviation Makes Us Turn Positive

Keyence – Valuations a Risk but Increasingly Attractive Relative to Peers

Keyence: An Approaching Bottom and the Ki Data Analytics Platform's Potential

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><a href="https://www.smartkarma.com/entities/keyence-corp" target="_blank" data-smartkarma-citation="entities:3077:1" rel="noopener">Keyence Corp (6861 JP)</a> continues to trade sideways following weak 1Q results that caused the stock to drop 4% the following trading day. We remain relatively positive on the name as we consider it to be (in relative terms) a defensive name within the sector with less earnings volatility than peers. We examine the underlying metrics below.</p>

Keyence Corp (6861 JP) continues to trade sideways following weak 1Q results that caused the stock to drop 4% the following trading day. We remain relatively positive on the name as we consider it to be (in relative terms) a defensive name within the sector with less earnings volatility than peers. We examine the underlying metrics below.

Keyence: Waiting for a Bottom - SG&A Trend Is the Key Underlying Metric