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

Subaru Set to Exceed 1m Unit Sales With Industry Leading Margins. Time to Short?

Maruti Suzuki: Premium Segment Boosts Revenue Even As Entry-Level Sales Falter

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

Could Trump Add to Consolidation Pressure on Japan's Auto Industry

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

<h2><strong>North American Market Grew – Toyota Fell Behind</strong></h2><p>Net revenues in North America increased by JPY1,374bn (+14.2% YoY) to JPY11,052bn in FY2016 compared with FY2015. However, operating income decreased by JPY55.7bn (-9.5% YoY) to JPY528.8bn in FY2016 compared with FY2015. The decrease in operating income was mainly due to the increase in expenses and others, and the effects of changes in exchange rates.</p><p>Overall, US sales peaked at 17.55m vehicles in 2016, breaking the year 2015 record of 17.47m units…</p>

North American Market Grew – Toyota Fell BehindNet revenues in North America increased by JPY1,374bn (+14.2% YoY) to JPY11,052bn in FY2016 compared with FY2015. However, operating income decreased by JPY55.7bn (-9.5% YoY) to JPY528.8bn in FY2016 compared with FY2015. The decrease in operating income was mainly due to the increase in expenses and others, and the effects of changes in exchange rates.Overall, US sales peaked at 17.55m vehicles in 2016, breaking the year 2015 record of 17.47m units…

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

Toyota Motor

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