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

Japan Payment Wars: NTT Docomo and Merpay/Origami to Attempt Catch up with PayPay and Rakuten

Mercari – Physical Stores and Data Partnerships Strengthen Ecosystem Further

Mercari – Shift to Supply-Focused Promotions Slow GMV Growth

Mercari – The US Push and the Merpay Strategy

2020 High Conviction - A Mercarific Holiday Season to All

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>Yesterday after the close Mercari announced that it had come to terms with Origami CEO Yoshiki Yasui to acquire all outstanding shares of Origami, further consolidating the cashless payments industry in Japan. With Line Pay and PayPay both to come under Z Holdings following the acquisition of Line it seems like the path of least resistance for the industry could be consolidation into three major groups. We discuss the details below.</p>

Yesterday after the close Mercari announced that it had come to terms with Origami CEO Yoshiki Yasui to acquire all outstanding shares of Origami, further consolidating the cashless payments industry in Japan. With Line Pay and PayPay both to come under Z Holdings following the acquisition of Line it seems like the path of least resistance for the industry could be consolidation into three major groups. We discuss the details below.

Mercari – Merpay Acquisition of Origami Pay Continues Cashless Consolidation