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

Yakult Honsha Co Ltd in Health and Wellness (World) - Part 1

Yakult Honsha Co Ltd in Health and Wellness (World) - Part 2

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 Capital Markets

<p>Yakult ended its first day following share delivery up 8.6% vs. its offering price. 8.8m shares traded and Bloomberg suggests that the majority of shorts covered their positions. We believe the near term prospects for the stock continue to be positive and would stay long. We believe there is potential for 4Q OP to be stronger than consensus, though contribution to FY OP is seasonally low this quarter. Looking further ahead, we feel there is significant upside potential if revenue in Asia reverts…</p>

Yakult ended its first day following share delivery up 8.6% vs. its offering price. 8.8m shares traded and Bloomberg suggests that the majority of shorts covered their positions. We believe the near term prospects for the stock continue to be positive and would stay long. We believe there is potential for 4Q OP to be stronger than consensus, though contribution to FY OP is seasonally low this quarter. Looking further ahead, we feel there is significant upside potential if revenue in Asia reverts…

Yakult: Every Day Is a Yakult Day [Post Offering Review and Future Outlook]