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

Japan Small Cap Tour: Overseas Expansion Stalling at Sysmex?

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/19333" target="_blank" data-smartkarma-citation="entities:19333:1">Sysmex Corp (6869 JP)</a> continued its string of weak quarters as OPM declined even further below 20%, hitting 18.1% with OP down 11% YoY despite a weaker yen helping the company grow sales 2.4% YoY and 11.5% QoQ. OP profit was JPY51.7bn for the FY just above our JPY51bn estimate which was 11% below consensus at the time we made it. Guidance of JPY57bn in OP looks aggressive but achievable if the yen stays at 114 to the USD, but we feel that the revenue target of JPY275bn looks too high given…</p>

Sysmex Corp (6869 JP) continued its string of weak quarters as OPM declined even further below 20%, hitting 18.1% with OP down 11% YoY despite a weaker yen helping the company grow sales 2.4% YoY and 11.5% QoQ. OP profit was JPY51.7bn for the FY just above our JPY51bn estimate which was 11% below consensus at the time we made it. Guidance of JPY57bn in OP looks aggressive but achievable if the yen stays at 114 to the USD, but we feel that the revenue target of JPY275bn looks too high given…

Sysmex Results Miss by 6%, Guidance 10% Below Consensus