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

Leyou (1089): Tencent Is Game As Scheme Tabled

Leyou (1089 HK): Reg Approvals Not An Issue. Unless Politicised

Leyou – You Need to Be Tracking Warframe This Month if You Own This

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>In March with Leyou trading at HKD2.30 we said that we believed a deal for the company was likely even though we considered the then reported purchase price for iDreamSky’s consortium of HKD3.30 to potentially overvalue the company. This was largely based on Leyou holding a good strategic position and mobile gaming companies in China needing new avenues for growth through non-organic means and greater access to foreign markets. Our scepticism was mainly due to tailing momentum for Warframe, but that has, at least for now, changed.</p>

In March with Leyou trading at HKD2.30 we said that we believed a deal for the company was likely even though we considered the then reported purchase price for iDreamSky’s consortium of HKD3.30 to potentially overvalue the company. This was largely based on Leyou holding a good strategic position and mobile gaming companies in China needing new avenues for growth through non-organic means and greater access to foreign markets. Our scepticism was mainly due to tailing momentum for Warframe, but that has, at least for now, changed.

Leyou – We Expect a Deal Soon and at the Top End of Reported Terms or Possibly Higher

Leyou Technologies

Leyou – We Expect a Deal Soon and at the Top End of Reported Terms or Possibly Higher