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

Weltmeister: Closely Competing With Xpeng

Xpeng IPO (Financial Analysis): More Products Than Li, But Generates A Gross Loss and Wider Net Loss

Canoo Pre-IPO(Business Model and Growth Prospects): Interesting, Though Still in the Planning Stage

Nio's Often Overlooked "Trade Receivables"

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 Capital Markets

<p>Nio announced this morning that they would be conducting a follow-on offering of 60m ADS run by Morgan Stanley, Credit Suisse and CICC. The company has been loss making since its IPO and shows various signs of struggling with liquidity and potentially solvency. We examine some of the relevant factors to consider in this offering below.</p>

Nio announced this morning that they would be conducting a follow-on offering of 60m ADS run by Morgan Stanley, Credit Suisse and CICC. The company has been loss making since its IPO and shows various signs of struggling with liquidity and potentially solvency. We examine some of the relevant factors to consider in this offering below.

NIO – An Offering Not Lacking in Audacity