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

Visit to the G-Star Game Exhibition in Busan

Nintendo – “Switching” to an IP-Focused Business Model

Mario Kart Tour Is Nintendo’s Best-Selling Mobile Game; Monthly Subscription Fee Met with Criticism

Switch Sales Show Modest Increase in 1Q as Nintendo Plans Foray into China with Upgraded Version

Switch Production to Move Outside of China; Stock Plunges Following Dull E3 Presentation

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

Initial revenue generation by Mario Kart Tour has disappointed and DeNA is down 9% since its launch while Nintendo is down 13% (partly due to disappointment over Switch Lite as well).With almost five weeks playing time under our belt, we examine the title’s “gatcha” mechanics below and explain why we believe it could have staying power and should not be ignored.

Initial revenue generation by Mario Kart Tour has disappointed and DeNA is down 9% since its launch while Nintendo is down 13% (partly due to disappointment over Switch Lite as well).With almost five weeks playing time under our belt, we examine the title’s “gatcha” mechanics below and explain why we believe it could have staying power and should not be ignored. 

Nintendo - Too Early to Give up on Mario Kart Tour and Its Gatcha Mechanics