Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

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.

Event-Driven

Softbank looks set to continue its transition into the ultimate momentum fund as PM Masa’s scrabble bag looks set to get a workout. Softbank Group, after previously securitising shares in its domestic telco subsidiary is now further selling down its stake to raise cash. The question is for what?

Softbank looks set to continue its transition into the ultimate momentum fund as PM Masa’s scrabble bag looks set to get a workout. Softbank Group, after previously securitising shares in its domestic telco subsidiary is now further selling down its stake to raise cash. The question is for what?

Softbank – PM Masa Raising Cash From the Dusty Telco

Equity Bottom-Up

Earlier this week <a href="https://www.bloomberg.com/news/articles/2020-08-25/nintendo-plans-upgraded-switch-console-and-major-games-for-2021?srnd=technology-vp" target="_blank" rel="noopener">Bloomberg reported</a> that Nintendo could release an upgraded version of the Switch in 2021. Nintendo had previously stated that there would be no new versions before the end of 2020 but speculation had been rampant of an upgrade being in the works. As such the timing seems likely and we discuss our thoughts on the rumoured 4K functionality.

Earlier this week Bloomberg reported that Nintendo could release an upgraded version of the Switch in 2021. Nintendo had previously stated that there would be no new versions before the end of 2020 but speculation had been rampant of an upgrade being in the works. As such the timing seems likely and we discuss our thoughts on the rumoured 4K functionality.

As Softbank goes all in on its transformation into an investing company (is Dave Portnoy being hired directly or is Masa familiar enough with Scrabble to run the strategy himself?), we feel that recent moves by Arm point to a potential Nippon Paint redux swapping overvalued shares for even more overvalued shares.

As Softbank goes all in on its transformation into an investing company (is Dave Portnoy being hired directly or is Masa familiar enough with Scrabble to run the strategy himself?), we feel that recent moves by Arm point to a potential Nippon Paint redux swapping overvalued shares for even more overvalued shares.

Softbank – Is Son’s Next Robinhood Trade Going to Be Arm for Nvidia Shares?

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>Apple (APPL) stores are still crowded.</li>
<li>Tesla (TSLA) refused to deliver vehicles to customers who ordered via Pinduoduo (PDD).</li>
<li>JD.com (JD) did not extend the contract with Alibaba (BABA)’s Sto Express (002468 CN),</li>
<li>Tencent (700 HK) started mini-store in its WeChat for small retailers.</li>
</ul>


Apple (APPL) stores are still crowded.
Tesla (TSLA) refused to deliver vehicles to customers who ordered via Pinduoduo (PDD).
JD.com (JD) did not extend the contract with Alibaba (BABA)’s Sto Express (002468 CN),
Tencent (700 HK) started mini-store in its WeChat for small retailers.


China Internet Weekly (24Aug2020): TSLA Refused PDD’s Customers, JD Fired BABA’s Sto Express

Nvidia’s recent acquisition history points heavily towards the company strengthening its enterprise-focused offerings and technology. The potential acquisition of Arm from Softbank could potentially strengthen this further. We examine the strategic fit for Nvidia and potential issues and valuation below.

Nvidia’s recent acquisition history points heavily towards the company strengthening its enterprise-focused offerings and technology. The potential acquisition of Arm from Softbank could potentially strengthen this further. We examine the strategic fit for Nvidia and potential issues and valuation below.

Looking at Nvidia’s Mellanox, Cumulus and SwiftStack Acquisition for Insight Into the Arm Deal

United States

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software.  The Company's products provide interactive 3D graphics to the mainstream personal computer market.

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NVIDIA Corp (NVDA US)

Softbank – PM Masa Raising Cash From the Dusty Telco

Softbank looks set to continue its transition into the ultimate momentum fund as PM Masa’s scrabble bag looks set to get a workout. Softbank Group,...

Mio Kato

Nintendo – A 4K Switch in 2021?

Earlier this week Bloomberg reported that Nintendo could release an upgraded version of the Switch in 2021. Nintendo had previously stated that...

Mio Kato

Softbank – Is Son’s Next Robinhood Trade Going to Be Arm for Nvidia Shares?

As Softbank goes all in on its transformation into an investing company (is Dave Portnoy being hired directly or is Masa familiar enough with...

Mio Kato

China Internet Weekly (24Aug2020): TSLA Refused PDD’s Customers, JD Fired BABA’s Sto Express

Apple (APPL) stores are still crowded. Tesla (TSLA) refused to deliver vehicles to customers who ordered via Pinduoduo (PDD). JD.com (JD) did not...

Ming Lu

Looking at Nvidia’s Mellanox, Cumulus and SwiftStack Acquisition for Insight Into the Arm Deal

Nvidia’s recent acquisition history points heavily towards the company strengthening its enterprise-focused offerings and technology. The potential...

Mio Kato

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