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

Apple - Dumping Hyundai Motor Group in Favor of Japanese Auto Companies to Develop EVs?

Korea Pair Trade Idea: 6 Closely Correlated & Cointegrated Sector Pairs

Hyundai Dept & Shinsegae At -2.9σ Due to Duty-Free Factor, but Should Head for Mean Reversion Now

2021 High Conviction - Mazda Accelerating Out of COVID Corner

Mazda – The Return of the Wankel Engine and Its Significance for the EV Transition

Mazda – Rising Repeat Rate Makes This Our Top Pick in the Sector

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>Mazda is up 17% after generating ¥844bn in revenue (consensus ¥833bn) and ¥20.9bn in OP (consensus ¥8.5bn) in 3Q. Guidance was revised to breakeven vs. consensus expectations for a ¥21.2bn loss. These were good results but the size of this move shows that sentiment had become far too negative on the company. We believe that will continue to change.</p>

Mazda is up 17% after generating ¥844bn in revenue (consensus ¥833bn) and ¥20.9bn in OP (consensus ¥8.5bn) in 3Q. Guidance was revised to breakeven vs. consensus expectations for a ¥21.2bn loss. These were good results but the size of this move shows that sentiment had become far too negative on the company. We believe that will continue to change.

Mazda – To Chase or Not to Chase? Zoom Zoom Goes 2021 Conviction Pick

Mazda Motor

Mazda – To Chase or Not to Chase? Zoom Zoom Goes 2021 Conviction Pick