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: Likely Delay in Deal Approval and Poor Non-Memory Earnings Make IPO More Likely

Toshiba: Will Chinese Approval Arrive Without Onerous Conditions or Is an IPO on the Cards?

Toshiba: Doth the Company Protest Too Much?

TOSHIBA and TOPIX - It's Gonna Be a Long Wait.

Toshiba: A Look at the Scenario Where Toshiba Retain TMC as a Consolidated Subsidiary

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>The FT reported yesterday that Toshiba maintained the possibility of an IPO for its memory unit as a backup plan in the event that antitrust approval for its deal with a consortium headed by Bain fell through. We had mentioned previously that Toshiba may be having second thoughts about letting go of its crown jewel business, especially at a time when it is generating exceptional profits. We are not certain that Toshiba would be able to raise more capital through an IPO than through a sale to the…</p>

The FT reported yesterday that Toshiba maintained the possibility of an IPO for its memory unit as a backup plan in the event that antitrust approval for its deal with a consortium headed by Bain fell through. We had mentioned previously that Toshiba may be having second thoughts about letting go of its crown jewel business, especially at a time when it is generating exceptional profits. We are not certain that Toshiba would be able to raise more capital through an IPO than through a sale to the…

Valuation and Toshiba Memory's IPO Chances

Toshiba Corp

Valuation and Toshiba Memory's IPO Chances