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

Square Enix – Losses in HD Games Disappointing

Square Enix – CTFN Reports M&A Interest

Square Enix – Behold the Asmongold Effect

Square Enix – What the Witcher Says About Content Synergies and Implications for Game Developers

Square Enix – FF7RE Is the Cherry, Not the Sundae

Nintendo – A Visit to the Nintendo Tokyo Store in Shibuya

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>Square Enix reported strong numbers yesterday with EBIT of ¥24.5bn exceeding consensus’ ¥9.5bn by 159%. We previously flagged that Square Enix was starting to fire on all cylinders as improved engagement for its Final Fantasy XIV MMO, a varied smartphone game portfolio led by Dragon Quest Walk and healthy growth in its Publication segment awaited an improvement in the HD Games business. That has now come through thanks to Final Fantasy 7 RE, despite concerns among some analysts about the sell-through of the title, the premium pricing and high digital ratio supported profits… as we had intimated.</p>

Square Enix reported strong numbers yesterday with EBIT of ¥24.5bn exceeding consensus’ ¥9.5bn by 159%. We previously flagged that Square Enix was starting to fire on all cylinders as improved engagement for its Final Fantasy XIV MMO, a varied smartphone game portfolio led by Dragon Quest Walk and healthy growth in its Publication segment awaited an improvement in the HD Games business. That has now come through thanks to Final Fantasy 7 RE, despite concerns among some analysts about the sell-through of the title, the premium pricing and high digital ratio supported profits… as we had intimated.

スクウェア・エニックス – バランスの取れた事業ポートフォリオの強みが光る

Square Enix Holdings

スクウェア・エニックス – バランスの取れた事業ポートフォリオの強みが光る