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

SUBARU: Expected but Still Deep Negative Surprise

May US SAAR: Sub 17 Million with More Incentives

May US SAAR Weakens on Lower Fleet Mix - Industry Mix Most Favors D3 and Least Favors Korean OEMs

Subaru Set to Exceed 1m Unit Sales With Industry Leading Margins. Time to Short?

US Light Truck/SUV Boom Forces Toyota to Respond to Capacity Constraints

Japanese and Asian equity long/short strategies

Uzabase

Specialising in Japanese and Asian equity long/short strategies with a focus on rigorous, but targeted quantitative analysis to temper evaluations of company strategy, potential and vision. At Uzabase, our team of analysts provides coverage of industry dynamics with a local Asian flavour on Speeda, our financial information platform. Going forward we are aiming to channel our focus toward thematic research on emerging industries and company research.

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/5439" target="_blank" data-smartkarma-citation="entities:5439:1">Subaru Corp (7270 JP)</a> announced FY03/18 guidance of JPY410bn OP as the Nikkei previewed earlier. The internals were also not particularly encouraging as the forex assumption was JPY110/USD which is not too conservative. Results were essentially in line with company guidance and weaker than consensus though ordinary income was 4% light of company guidance. Looking forward, several things concern us:</p><p>1) Production is shifting towards the US with the company forecasting 381K units of production in…</p>

Subaru Corp (7270 JP) announced FY03/18 guidance of JPY410bn OP as the Nikkei previewed earlier. The internals were also not particularly encouraging as the forex assumption was JPY110/USD which is not too conservative. Results were essentially in line with company guidance and weaker than consensus though ordinary income was 4% light of company guidance. Looking forward, several things concern us:1) Production is shifting towards the US with the company forecasting 381K units of production in…

Subaru Guidance as Weak as Nikkei Suggested