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 – Profitability Is the Story Here, Not Factory Fires

Renesas – Secondary Is a Good Chance to Enter at a Discount

Renesas (6723 JP) New Issue + Placement: Index Implications

Renesas – Selloff on Dialog Announcement Opens Up Opportunity

Renesas – Auto Chip Shortage Could Drive Further Gains

Renesas – There Is Juice Left in the Long Renesas Short TEL Pair ST and Long Renesas Has Legs LT

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>Renesas reported solid 4Q numbers with revenue coming in at ¥191.6bn and EBITDA at ¥57.5bn, in line with consensus at ¥191.1bn and ¥58.7bn respectively. It was 1Q guidance which was the real story, however, as the projection is for ¥197-205bn in revenue and an OPM of 22% at the midpoint.</p>

Renesas reported solid 4Q numbers with revenue coming in at ¥191.6bn and EBITDA at ¥57.5bn, in line with consensus at ¥191.1bn and ¥58.7bn respectively. It was 1Q guidance which was the real story, however, as the projection is for ¥197-205bn in revenue and an OPM of 22% at the midpoint.

Renesas Electronics

Renesas – Not Just About the Auto Side