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

We Like to Think of Ourselves as the Biggest Bulls on Yaskawa But...

Yaskawa: Still Like the LT Prospects but It's Finally Time to Exit (For Now)

Yaskawa Gets a Strong Jump in China Sales, Raise FVE to JPY 3,400

Electronics Industry Overtakes Autos in Chinese Robot Consumption

Yaskawa Electric Visit: Steady Performance but Time to Tilt Long Yaskawa/Short Fanuc Pair Shorter

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>We visited <a href="https://www.smartkarma.com/entities/2458" target="_blank" data-smartkarma-citation="entities:2458:1">Yaskawa Electric Corp (6506 JP)</a> this morning to discuss its excellent first quarter results and gain further insight on the sustainability of profitability improvement. We came away with confirmation of the general consensus among machinery/factory automation companies that current demand from China is heavily iPhone driven and that 1Q is likely to be a short term peak. However, we also found many of Yaskawa's medium term efforts to be starting to generate positive results and felt…</p>

We visited Yaskawa Electric Corp (6506 JP) this morning to discuss its excellent first quarter results and gain further insight on the sustainability of profitability improvement. We came away with confirmation of the general consensus among machinery/factory automation companies that current demand from China is heavily iPhone driven and that 1Q is likely to be a short term peak. However, we also found many of Yaskawa's medium term efforts to be starting to generate positive results and felt…

Yaskawa Visit: Smartphones/Pricing Power Drive OPM Expansion, 2H Overshoot if IPhone 8 Delivers?