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

Nintendo – Deftly Animal Crossing Over the COVID Trap

Gaming Drags Down Sony’s FY03/20 Results; PS5 Is on Track for Launch in 2020

Sony to Buy Out Remaining Sony Financial Stake

Nintendo – A Visit to the Nintendo Tokyo Store in Shibuya

Nintendo – Micro Quantamental Analysis Following 3Q

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>Early this morning it was revealed that activist investor ValueAct had taken a 2.1% stake in Nintendo. ValueAct appears to have been building this stake since Apr 2019 and is pushing Nintendo to expand its thinking beyond just video games. While we agree with the general idea of more fully utilising Nintendo’s vast IP assets, we would not be getting too excited about rapid changes occurring here. We are, however, intrigued by the strength of sales of Animal Crossing: New Horizons. More below.</p>

Early this morning it was revealed that activist investor ValueAct had taken a 2.1% stake in Nintendo. ValueAct appears to have been building this stake since Apr 2019 and is pushing Nintendo to expand its thinking beyond just video games. While we agree with the general idea of more fully utilising Nintendo’s vast IP assets, we would not be getting too excited about rapid changes occurring here. We are, however, intrigued by the strength of sales of Animal Crossing: New Horizons. More below.

Nintendo – ValueAct Won’t Change Much but You Should Pay Attention to Animal Crossing’s Strength