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

NTT – NTT Is Going Big and Our Suspicions Are Aroused Further

NTT Deal for DoCoMo - Not Going Gentle, Definitely Raging Against the Dying of the Light

Japan E-Commerce Breaks ¥10 Trillion, Set for Major Boost This Year

Mercari – Our Ten Bagger Call Is Actually Starting to Look Somewhat Sane

Mercari – A Primer to Refresh Our Top Conviction Call

Smartkarma Webinar | Mercari: The Ten-Bagger Investment Thesis

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>We spoke to Mercari to update ourselves on the company’s thinking and likely decision making over the next year. The stock has come off slightly of late as EC in general loses a little of its coronavirus tailwind but we believe conditions are still healthy and the company’s strategy and growth prospects are sound. We would point to potential listing for peers Poshmark and thredUP as potential upside catalysts if they attract strong multiples – something which could shed light on just how attractive Mercari’s US business is.</p>

We spoke to Mercari to update ourselves on the company’s thinking and likely decision making over the next year. The stock has come off slightly of late as EC in general loses a little of its coronavirus tailwind but we believe conditions are still healthy and the company’s strategy and growth prospects are sound. We would point to potential listing for peers Poshmark and thredUP as potential upside catalysts if they attract strong multiples – something which could shed light on just how attractive Mercari’s US business is.

Mercari – Conditions Remain Strong and Poshmark and ThredUP Listings Could Raise Multiples