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 – Super Duper Mario 3! Now With Cost Pull-Forward!

Nintendo – Watch Monster Hunter Rise for Improved Multiplayer

Nintendo – DLSS Developments Have Implications for Switch “Pro”

Nintendo – Catalysts to Support the Stock for the Next Year

Tokyo Game Show – Capcom and Koei-Tecmo Presentations Look Good for Themselves and for Nintendo

Monster Hunter – Catalyst for Capcom, Start of 3rd Party Wave for Nintendo

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>Nintendo is now just 11.5% below its all-time high of ¥73,200. Consensus projects OP of ¥544bn for this FY which would be below the all-time high ¥555bn of FY03/09 and projects a gentle decline with OP falling to ¥506bn next year. We disagree with consensus on both counts and expect OP this year to come in between ¥620-700bn while expecting a large drop next year to ¥450-475bn.</p>

Nintendo is now just 11.5% below its all-time high of ¥73,200. Consensus projects OP of ¥544bn for this FY which would be below the all-time high ¥555bn of FY03/09 and projects a gentle decline with OP falling to ¥506bn next year. We disagree with consensus on both counts and expect OP this year to come in between ¥620-700bn while expecting a large drop next year to ¥450-475bn.

Nintendo – Will All-Time High Earnings Lead to an All-Time High Share Price?