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

Softbank: Looks Like Softbank Elevated Arm's Consciousness Too

Softbank Group: Vision Fund Chill as Uber Price Falls and WeWork Prospectus Unimpressive

Initial Thoughts on WeWork's IPO Filing Aren't Supportive of a Higher 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.

Equity Capital Markets

<p>After monetising stakes in Alibaba, TMobile and Softbank Corp, the next piggybank in Softbank Group’s crosshairs appears to be Arm. We have commented previously about the deteriorating financial performance and personnel departures from the company under Softbank’s watch and question whether the company was ever worth what Softbank paid for it, even in better times. Nevertheless, the company remains in an attractive space and has had some positive news flow recently. More interestingly, it appears to have offloaded the IoT-related business onto parent Softbank. We go through the details below.</p>

After monetising stakes in Alibaba, TMobile and Softbank Corp, the next piggybank in Softbank Group’s crosshairs appears to be Arm. We have commented previously about the deteriorating financial performance and personnel departures from the company under Softbank’s watch and question whether the company was ever worth what Softbank paid for it, even in better times. Nevertheless, the company remains in an attractive space and has had some positive news flow recently. More interestingly, it appears to have offloaded the IoT-related business onto parent Softbank. We go through the details below.

ARM Holdings

Softbank – Lining Up an Arm IPO