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

Mazda – A Buy As The Yen Weakens With The BOJ Trapped

Mazda – Guidance Is Actually MORE Conservative Than Peers

Mazda – Moving Upmarket With a RWD Is a Straight Six

Conviction Call Mazda – 1Q and FY OP Beats Should Be Biggest in Sector

Conviction Call Mazda – Blowout Comes Through

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>Mazda 2Q easily beat consensus at the OP line with OP generation of ¥13.6bn significantly above consensus’ ¥4.1bn. What should be taken notice of though is that it did so while missing on the top line by 10%. This underscores what we have been saying for some time – the sellside is completely clueless about Mazda’s evolving profit structure. In our view even the buyside underestimates just how much it has improved.</p>

Mazda 2Q easily beat consensus at the OP line with OP generation of ¥13.6bn significantly above consensus’ ¥4.1bn. What should be taken notice of though is that it did so while missing on the top line by 10%. This underscores what we have been saying for some time – the sellside is completely clueless about Mazda’s evolving profit structure. In our view even the buyside underestimates just how much it has improved.

Mazda – Stealth Upgrade and On Track to Blowout

Mazda Motor

Mazda – Stealth Upgrade and On Track to Blowout