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

Showa Denko – Showa Me the Synergies…?

Hitachi’s Probable Next Sell-Off: Hitachi High-Technologies

Hitachi TOB for Hitachi High Tech (8036) - Valuative, Volitive, Vulnerable?

Hitachi Chemical: How Can You Justify an ¥800bn Valuation?

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.

Event-Driven

<p>As Showa Denko emerges as a somewhat surprising frontrunner for Hitachi Chemical, we examine what the potential deal may look like. We had earlier discussed Hitachi Chemical’s potential valuation and potential synergies the company could generate with potential partners. Relative to some of the other partners touted we are harder pressed to articulate a case for significant synergies between Showa Denko and Hitachi Chemicals. It makes us wonder whether this deal is as much to try and reduce any drop in earnings from collapsing graphite electrode prices as it is to complement each other operationally.</p>

As Showa Denko emerges as a somewhat surprising frontrunner for Hitachi Chemical, we examine what the potential deal may look like. We had earlier discussed Hitachi Chemical’s potential valuation and potential synergies the company could generate with potential partners. Relative to some of the other partners touted we are harder pressed to articulate a case for significant synergies between Showa Denko and Hitachi Chemicals. It makes us wonder whether this deal is as much to try and reduce any drop in earnings from collapsing graphite electrode prices as it is to complement each other operationally.

Showa Denko - Hitachi Chemicals Acquisition Could Be Accretive… Eventually

Resonac Holdings

Showa Denko - Hitachi Chemicals Acquisition Could Be Accretive… Eventually