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

Hitachi Metals – If You Still Own This It May Be Worth Selling Prior to an Acquisition Announcement

Hitachi Metals – Limited Upside Despite Bain Capital News But Let’s Find the Offshoot Ideas

Hitachi Metals – Waupaca Sale Would Make Specialty Metals Segment More Saleable

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

<p>When the surprise news that Hitachi was looking to sell down its stake in HCM broke, Hitachi Metals also fell 6.2% on the news. We said at the time that we believed Hitachi Metals was likely to be sold to an acquirer rather than just deconsolidated and the Nikkei has reported that both Bain and KKR are interested in the company. This is positive for the stock in our view, even more so than interest from a strategic acquirer as we believe it opens up various options.</p>

When the surprise news that Hitachi was looking to sell down its stake in HCM broke, Hitachi Metals also fell 6.2% on the news. We said at the time that we believed Hitachi Metals was likely to be sold to an acquirer rather than just deconsolidated and the Nikkei has reported that both Bain and KKR are interested in the company. This is positive for the stock in our view, even more so than interest from a strategic acquirer as we believe it opens up various options.

Hitachi Metals – Acquisition by a PE Fund Could Unlock Value