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

That Upcoming $3-4bn SELL on Softbank Group (9984)

Softbank Group - Discount Headwinds Rise as Buyback Hopes Fade

Softbank – Buyback Hopes Drift Further Away

Softbank Group - DT Call Option Adjustment Includes Strategic Partnership but Less Cash

Softbank Group - The Great Unwinding Has Shifted from the Discount to Underlying Value

Softbank - No Buyback Means Little Reason to Buy

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

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>Softbank stock closed up 14.5% today vs. the close on Monday as the market reacted positively to its sale of TMUS shares to Deutsche Telekom. At one point the stock was up as much as 21.5% over two days. Such a large move seems unwarranted given the news, while positive, was not especially impactful. Is this simply a short squeeze given the continuous selling of the stock since May or is the market now expecting more buybacks?</p>

Softbank stock closed up 14.5% today vs. the close on Monday as the market reacted positively to its sale of TMUS shares to Deutsche Telekom. At one point the stock was up as much as 21.5% over two days. Such a large move seems unwarranted given the news, while positive, was not especially impactful. Is this simply a short squeeze given the continuous selling of the stock since May or is the market now expecting more buybacks?

Softbank – Still No Buyback Means Still Little Reason to Buy