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 – SK Hynix’s Acquisition of Intel’s NAND Operations Hurts Kioxia’s Value

Intel. Thoughts On The Proposed NAND Flash Sale To SK Hynix.

Toshiba – On Track to Hit Imaginary “If Only COVID Hadn’t Happened” Guidance

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

Gravity Works As WeWork Doesn't; Now Plan B

Smartkarma Flash Webinar | Kioxia IPO: How Solid Is It?

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>The Nikkei reported today that Kioxia would be postponing its much-anticipated IPO due to US-China tensions. That is an interesting fig-leaf in our opinion, or a decidedly creative take on the idea that the IPO was priced extremely richly. We question whether postponing the IPO further will lead to greater returns down the road. We feel there is downside risk for Toshiba.</p>

The Nikkei reported today that Kioxia would be postponing its much-anticipated IPO due to US-China tensions. That is an interesting fig-leaf in our opinion, or a decidedly creative take on the idea that the IPO was priced extremely richly. We question whether postponing the IPO further will lead to greater returns down the road. We feel there is downside risk for Toshiba.

Toshiba – Kioxia’s Postponed IPO Is NOT About US-China Tensions and That Means More Downside Risk

Kioxia Holdings

Toshiba – Kioxia’s Postponed IPO Is NOT About US-China Tensions and That Means More Downside Risk