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

SMM: Disordered Structures for Li-Ion Increase Risk of Cobalt and Nickel Substitution with Manganese

Pacific Metals: Boost from Indonesian Nickel Ore Export Resumption Could Put This on 7x PE

Mazda-Toyota-Denso EV Venture Drives EV Names Up - Yasunaga up 11% Threatening All Time High

Hirata Corp: Gearing into EV Mass Production and OLED IPhone

Yasunaga Limit Up on Earnings Upgrade, Unique Li-Ion Tech Could Completely Transform Company

Mazda: Toyota Investment Should Be Big Positive but Results Won't Be Apparent for Several Years

Nikkei Newspaper Reports Toyota and Mazda Will Form a Capital Alliance.

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 have discussed <a href="https://www.smartkarma.com/entities/20957" target="_blank" data-smartkarma-citation="entities:20957:1">Yasunaga Corp (7271 JP)</a> a couple of times, noting that the company has been highly conservative with its earnings guidance in the past and that its initial guidance for JPY1.2bn in OP this year looked highly conservative. In Jul 2017, we estimated a potential range of JPY1.35-1.75bn in OP based on the company's marginal profit ratios and a relatively wide revenue growth range. After raising guidance to JPY1.42bn in February the company raised guidance to JPY1.8bn OP yesterday.</p><p>…</p>

We have discussed Yasunaga Corp (7271 JP) a couple of times, noting that the company has been highly conservative with its earnings guidance in the past and that its initial guidance for JPY1.2bn in OP this year looked highly conservative. In Jul 2017, we estimated a potential range of JPY1.35-1.75bn in OP based on the company's marginal profit ratios and a relatively wide revenue growth range. After raising guidance to JPY1.42bn in February the company raised guidance to JPY1.8bn OP yesterday.…

Yasunaga/Hirata/SMM: Up 14, 10 and 7%% - EV Battery Names Surging for Various Reasons