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

Toshiba Board to Shareholders:  "Yes, Meh But We Did Our Job, Now It's Up To You (We're Tired Too)"

Toshiba – Thoughts On The Tender Opinion

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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.

Event-Driven

<ul>
<li>An EDINET filing yesterday revealed that 3D Investment Partners had reduced their stake in Toshiba from 7.2% to 4.9%. </li>
<li>This significantly derisks the possibility of 3D becoming a forced seller and alters the risk reward here. </li>
<li>Nevertheless, it is still difficult to be especially bullish here given uncertainty regarding the tender vote is now a little higher.</li>
</ul>


An EDINET filing yesterday revealed that 3D Investment Partners had reduced their stake in Toshiba from 7.2% to 4.9%. 
This significantly derisks the possibility of 3D becoming a forced seller and alters the risk reward here. 
Nevertheless, it is still difficult to be especially bullish here given uncertainty regarding the tender vote is now a little higher.


Toshiba – 3D Stake Reduction Reduces and Increases Risk

Toshiba Corp

Toshiba – 3D Stake Reduction Reduces and Increases Risk