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 – Japan Industrial Partners The Only Real Bid?

MBK Partners Joins JIC Consortium to Acquire Toshiba

Toshiba (6502 JP): Kioxia Nanoimprint Update - Look to the Next Cycle

Toshiba – Special Dividend Not Enough To Offset Negatives

Toshiba (6502) Update - Shares Down Since Last Look, "News" Isn't Really. IRR Grid.

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.

Equity Bottom-Up

<ul>
<li>Toshiba reported 1Q results today missing at both the revenue and OP lines. </li>
<li>While revenue was barely above consensus the company generate a ¥4.8bn operating loss rather than the ¥22bn OP consensus was projecting. </li>
<li>1Q is seasonally weak so the loss itself would not be concerning except for how widespread deterioration was.</li>
</ul>


Toshiba reported 1Q results today missing at both the revenue and OP lines. 
While revenue was barely above consensus the company generate a ¥4.8bn operating loss rather than the ¥22bn OP consensus was projecting. 
1Q is seasonally weak so the loss itself would not be concerning except for how widespread deterioration was.


Toshiba Corp

Toshiba – Little Good News