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

Murata: Diversification into New Markets and M&A to Propel Long-Term Growth

5G and Auto Digitalization Will Reignite Murata's Growth

Fanuc: A Look at Valuation Post Strong 3Q

Fanuc: Orders Peaked in 1Q, Sector Share Prices Weak, This Could Be the Top

Yaskawa: Still Like the LT Prospects but It's Finally Time to Exit (For Now)

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>Murata shares have been weak since the company downgraded its guidance at the end of October, missing out entirely on Japan's year end rally as the company's stock price is down 10% compared to its October 31st close (Topix +6.5%). The downgrade was a result of weak demand for SAW devices and cost overruns in the ramp up of its MetroCirc production as yields were poor. Of the JPY46bn downward revision to OP, the MetroCirc component was the reason for about JPY20bn. We believe that demand for SAW…</p>

Murata shares have been weak since the company downgraded its guidance at the end of October, missing out entirely on Japan's year end rally as the company's stock price is down 10% compared to its October 31st close (Topix +6.5%). The downgrade was a result of weak demand for SAW devices and cost overruns in the ramp up of its MetroCirc production as yields were poor. Of the JPY46bn downward revision to OP, the MetroCirc component was the reason for about JPY20bn. We believe that demand for SAW…

Metrocirc Production Issues Open Buying Opportunity

Murata Manufacturing

Metrocirc Production Issues Open Buying Opportunity