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

Square Enix – Bounce Suggests Market Was Far Too Pessimistic

Square Enix – A Beat, A Bump and More to Come

Square Enix – Four Games at State of Play Show Depth of Content

Square Enix – Kingdom Hearts 4 and the Implications for Next Year’s Pipeline

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

<ul>
<li>Square Enix announced the of sale Eidos Interactive, Crystal Dynamics, Square Enix Montreal and associated IPs to Embracer for $300m. </li>
<li>We had been puzzling over Square Enix’s strangely low guidance despite excellent momentum in its MMO business for some time. </li>
<li>Considering the underperformance in HD Games profitability and this sale we think we can now put two and two together.</li>
</ul>


Square Enix announced the of sale Eidos Interactive, Crystal Dynamics, Square Enix Montreal and associated IPs to Embracer for $300m. 
We had been puzzling over Square Enix’s strangely low guidance despite excellent momentum in its MMO business for some time. 
Considering the underperformance in HD Games profitability and this sale we think we can now put two and two together.


Square Enix – Eidos Sale Removes Downside Risks

Square Enix Holdings

Square Enix – Eidos Sale Removes Downside Risks