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

DeNA – Buyback Protects Downside but Net Cash and Investments Dilute Upside Potential

Nintendo – A Visit to the Nintendo Tokyo Store in Shibuya

Mario Kart Tour Is Nintendo’s Best-Selling Mobile Game; Monthly Subscription Fee Met with Criticism

Switch Sales Show Modest Increase in 1Q as Nintendo Plans Foray into China with Upgraded Version

Nintendo - Too Early to Give up on Mario Kart Tour and Its Gatcha Mechanics

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>With Shigeru Miyamoto himself declaring that he has Micky Mouse in his sights, Nintendo appears to be increasingly comfortable with its shift towards being more IP-focused rather than game-focused. This is of course, more a matter of degree as the company has always had stellar IP generation ability and will continue to be a console/handheld developer yet, but we sense an increasing confidence to their mobile and IP strategy which the sellside does not seem to truly appreciate, and we discuss this concept below.</p>

With Shigeru Miyamoto himself declaring that he has Micky Mouse in his sights, Nintendo appears to be increasingly comfortable with its shift towards being more IP-focused rather than game-focused. This is of course, more a matter of degree as the company has always had stellar IP generation ability and will continue to be a console/handheld developer yet, but we sense an increasing confidence to their mobile and IP strategy which the sellside does not seem to truly appreciate, and we discuss this concept below.

任天堂 – IP重視のビジネスモデルへの「転換」