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

Sony – Epic Games Stake Purchase Is Small but VERY Interesting and Positive for Leyou

Leyou – You Need to Be Tracking Warframe This Month if You Own This

Leyou (1089 HK): VCredit Switcharoo Terminated

Leyou Technologies – We Are Sceptical About Fundamentals but Would Expect a Deal Anyway

Leyou (1089 HK): Enter Century Huatong As IDreamsky Tarries

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.

Event-Driven

<p>In our previous note on Leyou we noted that the company was in a good position strategically despite our scepticism about the longevity of its key profit driver, Digital Extreme’s Warframe. That has not changed greatly and Sony’s reported interest in the company is highly credible in our opinion. Against the backdrop of Microsoft’s reported interest in acquiring Warner Brothers Interactive Entertainment, we feel the move would make sense as both players move to strengthen 1<sup>st</sup> party development capabilities.</p>

In our previous note on Leyou we noted that the company was in a good position strategically despite our scepticism about the longevity of its key profit driver, Digital Extreme’s Warframe. That has not changed greatly and Sony’s reported interest in the company is highly credible in our opinion. Against the backdrop of Microsoft’s reported interest in acquiring Warner Brothers Interactive Entertainment, we feel the move would make sense as both players move to strengthen 1st party development capabilities.

Leyou – Is Sony Targeting Splash Damage as Microsoft Targets Warner Brothers Interactive