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

Conviction Call Dowa – Add Into This Correction

Dowa – Dear Market, You’re Kinda Going The Wrong Way

Dowa Holdings – Firing on All Cylinders

2022 High Conviction – Solar and Auto Production Play Dowa Holdings Drives Towards the Sunrise

Dowa Holdings – 2.1% Selloff on 20.7% Upward Revision

Smartkarma Webinar | Understanding Japanese Companies: Insights from LightStream Research

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

<ul>
<li>Dowa Holdings’ 3Q numbers PBT beat consensus by 18% putting the company on track to hit out ¥84bn FY target though its upward revision was only to ¥72.5bn. </li>
<li>A new concrete recycling facility, recovering rhodium prices and a rebound in silver powder sales should help momentum going forward. </li>
<li>We believe the current price implies sustainable PBT generation of under ¥40bn creating a lot of upside potential.</li>
</ul>


Dowa Holdings’ 3Q numbers PBT beat consensus by 18% putting the company on track to hit out ¥84bn FY target though its upward revision was only to ¥72.5bn. 
A new concrete recycling facility, recovering rhodium prices and a rebound in silver powder sales should help momentum going forward. 
We believe the current price implies sustainable PBT generation of under ¥40bn creating a lot of upside potential.


Conviction Call Dowa – On Track for a Blowout and Growth Next Year