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

Zozo: Yahoo Japan Tenders, Maezawa Is Out, Will GMO PG Be Squeezed Out?

The Era of Digital Zaibatsu*: Takeover of Zozo a Win for Softbank/Yahoo in Online Supremacy Battle

Zozo: What Are the Downside Risks Post-Tender Close?

ZOZO's Competitors: A Review of Japanese Online Malls Selling Fashion

Zozo: The Underlying Operating Metrics Worry Us

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>For the astute we believe that this quarter's results will make it possible to discern that Zozo is close to going ex-growth. By next quarter we believe this should become relatively obvious to most. We discuss why below.</p>

For the astute we believe that this quarter's results will make it possible to discern that Zozo is close to going ex-growth. By next quarter we believe this should become relatively obvious to most. We discuss why below.

ZOZO Inc

Zozo: The End of Growth