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

Tsubakimoto Chain: 2Q Underwhelming but Capacity Expansions Should Drive Significant Growth Next FY

Taking a Closer Look at Tsubakimoto Chain's MTP 2021

Strong 1Q Results Surpassing Market Expectations; An Upward Revision in FY03/19 Guidance

Tsubakimoto Chain: Quality Small Cap Dominates Timing Chain Market

Tsubakimoto Chain 3Q Shows Inflection in Growth and Margins

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><a href="https://www.smartkarma.com/entities/3794" target="_blank" data-smartkarma-citation="entities:3794:1">Tsubakimoto Chain Co (6371 JP)</a> reported earnings of JPY21.6bn above its guidance of JPY19.7bn and slightly below our estimate of JPY21.9bn. At the time of our forecast consensus was at JPY20.8bn for FY03/17 and JPY22.5bn for FY03/18. Since then FY03/18 consensus has risen to JPY23.3bn OP, just below our JPY23.5bn forecast. The company has in typical fashion issued highly conservative guidance calling for 3.1% revenue growth to JPY205bn and a 5.3% fall in OP to JPY20.5bn. We believe high single…</p>

Tsubakimoto Chain Co (6371 JP) reported earnings of JPY21.6bn above its guidance of JPY19.7bn and slightly below our estimate of JPY21.9bn. At the time of our forecast consensus was at JPY20.8bn for FY03/17 and JPY22.5bn for FY03/18. Since then FY03/18 consensus has risen to JPY23.3bn OP, just below our JPY23.5bn forecast. The company has in typical fashion issued highly conservative guidance calling for 3.1% revenue growth to JPY205bn and a 5.3% fall in OP to JPY20.5bn. We believe high single…

Tsubakimoto Chain Results Strong, Guides for 5% OP Decline but Double-Digit Growth More Likely