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

Shin-Etsu 3Q Results: Semiconductor Silicon Performs Steady Despite Decline in All Other Segments

Shin-Etsu: All Segments Seeing Declines; Earnings Rebound Could Take Longer

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Sumco – Overcapacity Risks but Oversold

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>Surging PVC prices helped Shin-Etsu post blowout numbers as revenue came in 10.6% above consensus and OP beat by 26.3% but the company refrained from raising guidance which suggests some concern about the sustainability of current PVC prices. Nevertheless, there are interesting changes to Shin-Etsu’s profit structure that investors should be aware of.</p>

Surging PVC prices helped Shin-Etsu post blowout numbers as revenue came in 10.6% above consensus and OP beat by 26.3% but the company refrained from raising guidance which suggests some concern about the sustainability of current PVC prices. Nevertheless, there are interesting changes to Shin-Etsu’s profit structure that investors should be aware of.

Shin-Etsu – Blowout but Will PVC Prices Sustain?

Shin Etsu Chemical

Shin-Etsu – Blowout but Will PVC Prices Sustain?