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 – A ¥3.5trn Kioxia Valuation Looks Like a Stretch

🇯🇵 JAPAN - Stress Tests Part 4 - From Free Cash Flow to Change in Cash

🇯🇵 JAPAN • Stress Tests Part 5: Net Working Capital Outliers

Toshiba Machine – How Much Is It Worth?

[Nikkei] TSE Rule Change to Allow Toshiba An Early Return to TOPIX

Murakami Vs Toshiba Machine: A Question of Shareholder Rights or Rights for Shareholders

Nuflare Is a Done Deal; Here Comes the Aftermath

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>Over the weekend Toshiba made two announcements. One was that current President and COO Tsunakawa would be stepping down from those roles to take on a role as Chairman (though not Chairman of the board), concentrating power in the hands of CEO and now also President Kurumatani. The second was that the company had discovered that ¥20bn in sales generated by a subsidiary could not be confirmed. New Toshiba is starting to look like old Toshiba in ways that are not encouraging.</p>

Over the weekend Toshiba made two announcements. One was that current President and COO Tsunakawa would be stepping down from those roles to take on a role as Chairman (though not Chairman of the board), concentrating power in the hands of CEO and now also President Kurumatani. The second was that the company had discovered that ¥20bn in sales generated by a subsidiary could not be confirmed. New Toshiba is starting to look like old Toshiba in ways that are not encouraging.

Toshiba – A Look at Toshiba Valuations in Light of the New Inflated Sales Issue

Toshiba Corp

Toshiba – A Look at Toshiba Valuations in Light of the New Inflated Sales Issue