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

Yaskawa: Motion Control Rebounds Despite Weak Smartphone Capex

Yaskawa: Visit Reaffirms LT Potential but It's Too Early to Invest, Semi Capex Readthrough Poor

Makino Milling (6135 JP): Higher Possibility for a Rebound

Increasingly Positive on Robots and Inverters, Hoping for a Servomotor Hiccup to Buy on a Dip

Fanuc: A Look at Valuation Post Strong 3Q

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>Following middling earnings yesterday Yaskawa started the day up 2.2% but has since dropped and is now down 1.5% in an up market. Our initial impressions of earnings were not overly negative though we did feel that consensus expectations remained too high. There was a relatively bullish <a href="https://asia.nikkei.com/Business/Companies/Yaskawa-foresees-strong-profits-amid-China-s-electric-car-boom" target="_blank">Nikkei article</a> this morning noting that the company is generally conservative with guidance so its strong growth outlook (despite still being lower than consensus), share buyback and a reassessment of China names…</p>

Following middling earnings yesterday Yaskawa started the day up 2.2% but has since dropped and is now down 1.5% in an up market. Our initial impressions of earnings were not overly negative though we did feel that consensus expectations remained too high. There was a relatively bullish Nikkei article this morning noting that the company is generally conservative with guidance so its strong growth outlook (despite still being lower than consensus), share buyback and a reassessment of China names…

Yaskawa: Robotics Keeps Chugging but There Are Troubling Signs for Motion Control

Yaskawa Electric

Yaskawa: Robotics Keeps Chugging but There Are Troubling Signs for Motion Control