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 Motor--Adjusting the Bearish FY17 Guidance Leads to In-Line Outlook with Consensus

Toyota - The Most Disliked Stock...In The World

New Camry:  Amazing Technology to Provide Super Competitive MPG

Toyota's FY17 Guidance Could Be a Catalyst for a Rally

Toyota Completes Move to Become Nexus of Japan Auto Industry with Suzuki Tie-Up

US Light Truck/SUV Boom Forces Toyota to Respond to Capacity Constraints

Japanese and Asian equity long/short strategies

Uzabase

Specialising in Japanese and Asian equity long/short strategies with a focus on rigorous, but targeted quantitative analysis to temper evaluations of company strategy, potential and vision. At Uzabase, our team of analysts provides coverage of industry dynamics with a local Asian flavour on Speeda, our financial information platform. Going forward we are aiming to channel our focus toward thematic research on emerging industries and company research.

Equity Bottom-Up

<p>Toyota released results which were in-line with analyst consensus at just below JPY2trn OP, but called for a 20% decline YoY to JPY1.6trn while consensus is at JPY2.35trn. While recent guidance from other automakers has on the whole been quite weak, this guidance is nevertheless surprisingly low... until you factor in that the forex assumption is JPY105/USD which, if adjusted to JPY110/USD would probably mean guidance of about JPY1.9trn. If further adjusted to current rates of about JPY114/USD…</p>

Toyota released results which were in-line with analyst consensus at just below JPY2trn OP, but called for a 20% decline YoY to JPY1.6trn while consensus is at JPY2.35trn. While recent guidance from other automakers has on the whole been quite weak, this guidance is nevertheless surprisingly low... until you factor in that the forex assumption is JPY105/USD which, if adjusted to JPY110/USD would probably mean guidance of about JPY1.9trn. If further adjusted to current rates of about JPY114/USD…

Toyota Results In-Line, Guidance 32% Below Consensus; Did They Kitchen Sink?