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

Mercari – Additional US Disclosure Is a Positive

Mercari – Up 10% on What Should Have Been an Unsurprising Upward Revision

Japan Fintech - Google Push into Mobile Payments Could Raise Competitive Intensity

Mercari – Small Beat and Good Underlying Trends

Mercari – If Mercari Traded Up to Poshmark’s 30x EV/Sales You Would Make 184%

Mercari’s Relentless Innovation Opens Closets

E-Commerce Wars in Japan: How Z Holdings Is Facing off Against Rakuten and Amazon

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>Mercari stock looks attractive ahead of earnings on Apr 30 as data suggests that US GMV growth has accelerated again. In addition, we believe consensus forecasts could be materially underestimating profitability and that an upside surprise at 3Q is a distinct possibility.</p>

Mercari stock looks attractive ahead of earnings on Apr 30 as data suggests that US GMV growth has accelerated again. In addition, we believe consensus forecasts could be materially underestimating profitability and that an upside surprise at 3Q is a distinct possibility.

Mercari – Expecting an Acceleration in US GMV Growth