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

Krafton's Index Play: KOSPI 200, MSCI Std, FTSE AW, FnGuide Top 10, & KRX BBIG

Kakao Pay to Revise Offering Price: Reasons & Schedule Impacts on Kakao Bank & Krafton

Krafton Listing Date Confirmed as August 10th: Rebalancing Trading Timeline

Initial Thoughts on the Krafton IPO Valuation

New Games Launches by Krafton & Its Major Competitors in 2021

Krafton's Strategic Intention Behind High Offering Price & FSS Correction Request Possibility

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

<p>Krafton is a game developer sporting multiple studios developing games for a variety of genres and devices, but is heavily dependent on PUBG Mobile. We see numerous risks on the horizon and detail these below. Douglas Kim and Sanghyun Park have provided significant detail on various aspects of the IPO in the following insights:</p><ol><li><a href="https://www.smartkarma.com/insights/krafton-ipo-preview" target="_blank" rel="noopener">Krafton IPO Preview | Smartkarma</a></li></ol><ol><li><a href="https://www.smartkarma.com/insights/krafton-ipo-9-major-risks" target="_blank" rel="noopener">Krafton IPO - 9 Major Risks | Smartkarma</a></li></ol><ol><li><a href="https://www.smartkarma.com/insights/initial-thoughts-on-the-krafton-ipo-valuation" target="_blank" rel="noopener">Initial Thoughts on the Krafton IPO Valuation | Smartkarma</a></li></ol><ol><li><a href="https://www.smartkarma.com/insights/new-games-launches-by-krafton-its-major-competitors-in-2021" target="_blank" rel="noopener">New Games Launches by Krafton &amp; Its Major Competitors in ... (smartkarma.com)</a></li></ol><ol><li><a href="https://www.smartkarma.com/insights/krafton-ipo-offering-detail-valuation-issue-index-fast-entry" target="_blank" rel="noopener">Krafton IPO: Offering Detail, Valuation Issue, &amp; Index F ... (smartkarma.com)</a></li></ol><ol><li><a href="https://www.smartkarma.com/insights/several-controversial-issues-about-krafton-ipo-valuation" target="_blank" rel="noopener">Several Controversial Issues About Krafton IPO Valuation (smartkarma.com)</a></li></ol><ol><li><a href="https://www.smartkarma.com/insights/krafton-s-strategic-intention-behind-high-offering-price-fss-correction-request-possibility" target="_blank" rel="noopener">Krafton's Strategic Intention Behind High Offering Price ... (smartkarma.com)</a></li></ol>

Krafton is a game developer sporting multiple studios developing games for a variety of genres and devices, but is heavily dependent on PUBG Mobile. We see numerous risks on the horizon and detail these below. Douglas Kim and Sanghyun Park have provided significant detail on various aspects of the IPO in the following insights:Krafton IPO Preview | SmartkarmaKrafton IPO - 9 Major Risks | SmartkarmaInitial Thoughts on the Krafton IPO Valuation | SmartkarmaNew Games Launches by Krafton &amp; Its Major Competitors in ... (smartkarma.com)Krafton IPO: Offering Detail, Valuation Issue, &amp; Index F ... (smartkarma.com)Several Controversial Issues About Krafton IPO Valuation (smartkarma.com)Krafton's Strategic Intention Behind High Offering Price ... (smartkarma.com)

Krafton IPO – The Past Present and Future of PUBG