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 – CTFN Reports M&A Interest

Square Enix – Behold the Asmongold Effect

Square Enix – The Market STILL Has Not Priced in the FFXIV Boom

Square Enix – Strength of Balanced Business Portfolio Shines Through

Square Enix – What the Witcher Says About Content Synergies and Implications for Game Developers

Square Enix – FF7RE Is the Cherry, Not the Sundae

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

<p>Square Enix disappointed with OP of ¥7.1bn undershooting consensus’ ¥11.4bn and FY guidance of ¥40bn also coming in below the ¥54.9bn of consensus. Results were weak in the HD Games segment in particular but conditions for MMOs and smart device games were strong and should help the company come within a hair’s breadth of FY consensus regardless of its conservative guidance.</p>

Square Enix disappointed with OP of ¥7.1bn undershooting consensus’ ¥11.4bn and FY guidance of ¥40bn also coming in below the ¥54.9bn of consensus. Results were weak in the HD Games segment in particular but conditions for MMOs and smart device games were strong and should help the company come within a hair’s breadth of FY consensus regardless of its conservative guidance.

Square Enix – Losses in HD Games Disappointing

Square Enix Holdings

Square Enix – Losses in HD Games Disappointing