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.

Equity Bottom-Up

<p>Tokai Carbon Korea has been on a very strong run, rising 126% from its Mar bottom as 1Q results were a record for revenue and the shift to advanced process nodes drives demand for its SiC Focus Rings where it enjoys a monopolistic position. We spoke to parent Tokai Carbon and feel confident that the company’s competitive position is defensible and that it should continue to see a strong rebound in revenue growth with improvements in profitability to boot.</p>

Tokai Carbon Korea has been on a very strong run, rising 126% from its Mar bottom as 1Q results were a record for revenue and the shift to advanced process nodes drives demand for its SiC Focus Rings where it enjoys a monopolistic position. We spoke to parent Tokai Carbon and feel confident that the company’s competitive position is defensible and that it should continue to see a strong rebound in revenue growth with improvements in profitability to boot.

Tokai Carbon Korea – Resist the Etch to Dismiss This Because of Valuation

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Equity Capital Markets

<p>KoMiCo provides precision cleaning and special coating services for devices and tools used in several key semiconductor manufacturing processes (cleaning etch device parts, CVDs and sputters). KoMico was founded in 2013 from MiCo (which was established in 1996) by separating precision cleaning and special coating business for devices and tools used in semiconductor manufacturing.</p>

KoMiCo provides precision cleaning and special coating services for devices and tools used in several key semiconductor manufacturing processes (cleaning etch device parts, CVDs and sputters). KoMico was founded in 2013 from MiCo (which was established in 1996) by separating precision cleaning and special coating business for devices and tools used in semiconductor manufacturing.

KoMiCo IPO Summary - Another Small & Beauty & Solid Tech Stock

South Korea

Tokai Carbon Korea Co., Ltd. produces purified graphite products used in semiconductor equipment, and silicon single crystal puller parts.  The Company also produces carbon products used in rubber parts for machineries.

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Tokai Carbon Korea (064760 KS)

Tokai Carbon Korea – Resist the Etch to Dismiss This Because of Valuation

Tokai Carbon Korea has been on a very strong run, rising 126% from its Mar bottom as 1Q results were a record for revenue and the shift to advanced...

Mio Kato

KoMiCo IPO Summary - Another Small & Beauty & Solid Tech Stock

KoMiCo provides precision cleaning and special coating services for devices and tools used in several key semiconductor manufacturing processes...

Sanghyun Park

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