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

Toshiba: Possible Demotion to TSE2? The Mechanics & Impact

Toshiba Targeting JPY1trn Investment by Mar 2018, Shift to TSE 2nd Section Almost Assured Now

Toshiba Chip Business Valuation Target Gravitating Back Below JPY1.5 Trillion

Will Toshiba Take On Its LNG Commitment, or Simply Pay Up?

Will Toshiba Be Forced to Sell More Than 20% of Its Memory Business?

Toshiba Falls >20% As Nikkei Suggests Losses Could Mount to JPY700bn Rather than JPY500bn

Japanese and Asian equity long/short strategies

Uzabase

Specialising in Japanese and Asian equity long/short strategies with a focus on rigorous, but targeted quantitative analysis to temper evaluations of company strategy, potential and vision. At Uzabase, our team of analysts provides coverage of industry dynamics with a local Asian flavour on Speeda, our financial information platform. Going forward we are aiming to channel our focus toward thematic research on emerging industries and company research.

Equity Bottom-Up

<p>Our overall conclusion is that the underlying businesses are not doing that badly, but the finances of the company (-JPY191.2bn equity) are in extremely rough shape with potentially more bad news to come (LNG) and that they may be forced to sell a lot more than they would like. Toshiba's main issue seems to be taking on risks it doesn't fully have a grasp on - construction of "cutting-edge" nuclear plants and LNG trading. The company's future as a going concern is uncertain. The risks seem high…</p>

Our overall conclusion is that the underlying businesses are not doing that badly, but the finances of the company (-JPY191.2bn equity) are in extremely rough shape with potentially more bad news to come (LNG) and that they may be forced to sell a lot more than they would like. Toshiba's main issue seems to be taking on risks it doesn't fully have a grasp on - construction of "cutting-edge" nuclear plants and LNG trading. The company's future as a going concern is uncertain. The risks seem high…

Toshiba Finally Discloses "Provisional" Presentation Materials on Website. Not Submitted to TSE

Toshiba Corp

Toshiba Finally Discloses "Provisional" Presentation Materials on Website. Not Submitted to TSE