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 – Cash and Cash Flow Matters More than LTV and Pega-Unicorn Drawings

Softbank Group: Selling More TMUS than BABA Fits Strategically Plus Tax Bill Should Be Lower

Softbank Group: Deep Dive into Vision Fund's $10bn in Expected Valuation Losses for This Quarter

Softbank Group Revises Forecasts Down Again on Higher Valuation Losses for WeWork

Softbank Group: An Update on Vision Fund Companies and Trading Volumes

Gravity Works As WeWork Doesn't; Now Plan B

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>In the face of monster losses from bets gone sour, the activity surrounding Softbank is looking increasingly… interesting. Over the weekend and early this morning we found out that the PIF, Saudi Arabias SWF was looking to raise USD10bn in margin loans potentially backed by its Vision Fund holdings (the PIF has denied this) and that Alibaba founder Jack Ma would be resigning from Softbank’s board. Curiouser and curiouser…</p>

In the face of monster losses from bets gone sour, the activity surrounding Softbank is looking increasingly… interesting. Over the weekend and early this morning we found out that the PIF, Saudi Arabias SWF was looking to raise USD10bn in margin loans potentially backed by its Vision Fund holdings (the PIF has denied this) and that Alibaba founder Jack Ma would be resigning from Softbank’s board. Curiouser and curiouser…

Softbank – Ma Follows Yanai and Schwartz Out the Door as PIF Looks to Collateralise Vision Fund