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 Board to Shareholders:  "Yes, Meh But We Did Our Job, Now It's Up To You (We're Tired Too)"

Good Morning Japan |Dot Plot Says 5.1%; Tech Leads Gains; NUGGET: Japan's Hay Fever Hell-Few Winners

Toshiba – Thoughts On The Tender Opinion

Toshiba (6502) - Funding Unsecured!  (This Is Getting To Be a Habit)

Toshiba (6502) - Funding Possibly Re-Secured, Deal Possibly In Play,

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

A Bull Investment Case for TSMC (Summary Version)

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

<ul>
<li>The Nikkei reported today that Toshiba’s board had chosen to accept JIP’s buyout offer. </li>
<li>The purported pricing of ¥2trn is a relatively modest premium but is not a surprise and no surprise is a positive here in our view. </li>
<li>All that remains is shareholder approval and while we doubt there will be too many celebrations on that front, there is likely to be relief.</li>
</ul>


The Nikkei reported today that Toshiba’s board had chosen to accept JIP’s buyout offer. 
The purported pricing of ¥2trn is a relatively modest premium but is not a surprise and no surprise is a positive here in our view. 
All that remains is shareholder approval and while we doubt there will be too many celebrations on that front, there is likely to be relief.


Toshiba Corp

Toshiba – The End… Hopefully