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

MODEC: +8% on 2Q Earnings Surge, Gross Margin Recovery and Large Revenue Bump Should Continue

Modec: Petrobras Order Delays Negative but Orders from India and Mexico Could Support Backlog

MODEC: Order Win in Mexico Is a Positive, Stock Rebounds 7% as MS Initiates with Buy

MODEC: Up 10% in 2 Days; Possibly 75% Upside Left

MODEC Could Be Our Favourite Pick for 2018

MODEC Rally Points with Laggard Potential

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><a href="https://www.smartkarma.com/entities/2840" target="_blank" data-smartkarma-citation="entities:2840:1">Modec Inc (6269 JP)</a> is gaining, up 7.1%, following the release of 1Q numbers which were reasonable but unexceptional. Revenue was up 5.7% QoQ which was encouraging given the completion of projects last year and the gradual start of construction on newly ordered FPSOs. Gross margin (8.8%) was slightly weak, though within reasonable bounds considering quarterly volatility, while SG&amp;A costs declined to just JPY2.74bn after averaging JPY3.36bn over the last 8 quarters. Return on SPC assets declined…</p>

Modec Inc (6269 JP) is gaining, up 7.1%, following the release of 1Q numbers which were reasonable but unexceptional. Revenue was up 5.7% QoQ which was encouraging given the completion of projects last year and the gradual start of construction on newly ordered FPSOs. Gross margin (8.8%) was slightly weak, though within reasonable bounds considering quarterly volatility, while SG&amp;A costs declined to just JPY2.74bn after averaging JPY3.36bn over the last 8 quarters. Return on SPC assets declined…

MODEC: Starting Breakout as Presalt Potential Is Realised After 180 Million Years