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

Toyota – Superbowl Commercials and the Evolution of Toyota

Toyota Motor (7203):  Chronically Underinvested:  Turnaround Potential

Toyota – Isuzu Re-Tie-Up Drives Further Japanese Consolidation

Toyota Model AA Shares - Good Riddance to Bad Governance

Toyota – Strengthening Autonomous with Aurora Partnership

Toyota – Solid State Batteries and Long Toyota as a Safer Short on the EV Bubble

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>Toyota blew out 3Q earnings as revenue of ¥8,150bn (consensus ¥7,577bn) and OP ¥988bn (consensus ¥567bn) came in extremely strong. OP and OPM hit their all-time highs since FY03. Toyota continues to go from strength to strength and the 8% YoY growth in revenue and 12.1% OPM posted this quarter show that Toyota is clearly separating from the pack.</p>

Toyota blew out 3Q earnings as revenue of ¥8,150bn (consensus ¥7,577bn) and OP ¥988bn (consensus ¥567bn) came in extremely strong. OP and OPM hit their all-time highs since FY03. Toyota continues to go from strength to strength and the 8% YoY growth in revenue and 12.1% OPM posted this quarter show that Toyota is clearly separating from the pack.

Toyota Motor

Toyota – Real Strength Shining Through