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

Tencent: Is Tencent Trying to Cope with Revenue Slowdown?

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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>As <a href="https://www.reuters.com/technology/china-grants-licences-60-online-games-june-2022-06-07/" target="_blank" rel="noopener">reported by Reuters</a>, yesterday China’s gaming regulator granted licences for 60 new games, none of which were published by Tencent or NetEase. </li>
<li>The two dominant companies in the industry did not feature in the list of 45 approvals in April either and this pattern should not be ignored by investors. </li>
<li>The lack of approval of foreign titles in the two batches is also striking and a further negative in our view.</li>
</ul>


As reported by Reuters, yesterday China’s gaming regulator granted licences for 60 new games, none of which were published by Tencent or NetEase. 
The two dominant companies in the industry did not feature in the list of 45 approvals in April either and this pattern should not be ignored by investors. 
The lack of approval of foreign titles in the two batches is also striking and a further negative in our view.


Tencent – Cold Shoulder On New Game Approvals Is A Concern