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 – Shareholder Returns Trump Weak Guidance

How Much of Toshiba Is Owned By "Activists"?

Kioxia – Examining the Long-Term Margin Trends and Where Fair Value May Lie

Toshiba – How the Kurumatani Resignation and KKR or Brookfield Bids Could Change Things

Gravity Works As WeWork Doesn't; Now Plan B

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

<p>While the air of Kurumatani’s influence hung heavily over CVC’s bid from the start, we had believed that recent noise regarding Bain joining its bid could have meant a serious bid from Bain with CVC as a junior partner. That appears to now be out the window with CVC having apparently put forth a half-hearted proposal and Toshiba looking reluctant to go the private route.</p>

While the air of Kurumatani’s influence hung heavily over CVC’s bid from the start, we had believed that recent noise regarding Bain joining its bid could have meant a serious bid from Bain with CVC as a junior partner. That appears to now be out the window with CVC having apparently put forth a half-hearted proposal and Toshiba looking reluctant to go the private route.

Toshiba – CVC Turns Tail but You Shouldn’t

Toshiba Corp

Toshiba – CVC Turns Tail but You Shouldn’t