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 • Results & Revisions 27th July - Koei Tecmo, Nitto Denko, MMC, Stanley Electric, Exedy

Koei Tecmo – Two New Sangokushi Games on Deck

🇯🇵 JAPAN • Results & Revisions 28th July - TEL, Fanuc, Canon, Nissan, Shin-Etsu, Omron

Koei-Tecmo – Deciphering the Profitability of Sangokushi Strategy

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>Koei-Tecmo reported strong results yesterday with OP of ¥14.1bn comfortably beating consensus’ ¥12.7bn and even our ¥13.5bn estimate which was above the consensus high. The stock closed just 5.5% below its Feb all-time high and we believe that the strength of Sangokushi Senryaku Ban and a strong game pipeline should help the company continue to outperform significantly.</p>

Koei-Tecmo reported strong results yesterday with OP of ¥14.1bn comfortably beating consensus’ ¥12.7bn and even our ¥13.5bn estimate which was above the consensus high. The stock closed just 5.5% below its Feb all-time high and we believe that the strength of Sangokushi Senryaku Ban and a strong game pipeline should help the company continue to outperform significantly.

Koei-Tecmo – Plenty of Headroom to Play With

Koei Tecmo Holdings

Koei-Tecmo – Plenty of Headroom to Play With