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

Renesas Top Line Growth Strength Continues While Search For Large Analog Acquisitions Continues

Renesas: Favourable Outlook in Store as Company Advances in Autonomous Driving Landscape

Will Renesas Thwart NXP's Plans of Advancing in the Autonomous Driving Landscape?

Renesas Electronics Placement: Additional Thoughts on Valuation, Flotation, and Ownership

Renesas Electronics: Better Positioned for Autonomous/Assisted Driving than XEV

Renesas Secondary Attractive and Return to Top Line Growth Could Spur Further Upside

Japanese and Asian equity long/short strategies

Uzabase

Specialising in Japanese and Asian equity long/short strategies with a focus on rigorous, but targeted quantitative analysis to temper evaluations of company strategy, potential and vision. At Uzabase, our team of analysts provides coverage of industry dynamics with a local Asian flavour on Speeda, our financial information platform. Going forward we are aiming to channel our focus toward thematic research on emerging industries and company research.

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/15933" target="_blank" data-smartkarma-citation="entities:15933:1">Renesas Electronics Corp (6723 JP)</a> is down just over 1% following 2Q results which were reasonably strong adjusted for the impact of amortisation costs due to the acquisition of Intersil. Gross margins were steady increasing slightly to 45.7% from 45.5% whereas ordinarily we would expect currency movements to have depressed GPM by about 1%. The Intersil acquisition is clearly supportive of higher GPMs. SG&amp;A ticked up slightly to 14.2% of revenue from 13.9% but we would expect this to return to a…</p>

Renesas Electronics Corp (6723 JP) is down just over 1% following 2Q results which were reasonably strong adjusted for the impact of amortisation costs due to the acquisition of Intersil. Gross margins were steady increasing slightly to 45.7% from 45.5% whereas ordinarily we would expect currency movements to have depressed GPM by about 1%. The Intersil acquisition is clearly supportive of higher GPMs. SG&amp;A ticked up slightly to 14.2% of revenue from 13.9% but we would expect this to return to a…

Renesas: 2Q Results and Valuation Reasonable but Future Upside Surprises May Be Limited