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

Toyota – Leading ESG Initiatives as It Hits All-Time Highs

Toyota – Superior Profit Structure Becoming Superior-Er

Toyota – New Tundra Could Drive Double Digit OP Uplift

Toyota – The EV and AD March Continues Beyond Zero

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>Toyota reported ¥27.2trn in revenue, ¥2.20trn in OP and ¥2.25trn in NP for FY03/21. These figures were 1.7%, 3.8% and 13.2% above consensus. We had been expecting EPS of just under ¥780 vs. consensus at ¥700 but Toyota eventually generated ¥795. Prospects for next year remain bright.</p>

Toyota reported ¥27.2trn in revenue, ¥2.20trn in OP and ¥2.25trn in NP for FY03/21. These figures were 1.7%, 3.8% and 13.2% above consensus. We had been expecting EPS of just under ¥780 vs. consensus at ¥700 but Toyota eventually generated ¥795. Prospects for next year remain bright.

Toyota – Buybacks Are Back as We Suggested

Toyota Motor

Toyota – Buybacks Are Back as We Suggested