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

Keyence: Waiting for a Bottom - SG&A Trend Is the Key Underlying Metric

Readthrough to Japanese FA Sector from Capital's SK Hynix Block Sale

Keyence (6861 JP): Undermined by Weak Demand and Uncertainty

SK Hynix:  Fund Positioning Ahead of Results

Capital's Hynix Disposal: Stake Δ Tracking, Profit % Calculation & Question of Timing

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.

Quantitative Analysis

<p>Keyence’s 2Q results were slightly weaker than consensus with revenue down 6% YoY (6% below consensus) and OP down 13% YoY (4% below consensus). Despite the slight miss we believe there are some positives to the recent results and discuss these below.</p>

Keyence’s 2Q results were slightly weaker than consensus with revenue down 6% YoY (6% below consensus) and OP down 13% YoY (4% below consensus). Despite the slight miss we believe there are some positives to the recent results and discuss these below.

キーエンス – 販管費の変動幅が縮小し、業績は好転