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

Bain Bids Up BIG For Hitachi Metals (5486) - Now We Wait

Hitachi Metals - Should I Stay or Should I Go Now?

Hitachi Metals – Acquisition by a PE Fund Could Unlock Value

Hitachi Metals – If You Still Own This It May Be Worth Selling Prior to an Acquisition Announcement

Hitachi Metals – Limited Upside Despite Bain Capital News But Let’s Find the Offshoot Ideas

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.

Event-Driven

<p>Hitachi Metals posted reasonable results yesterday as the share price very gently drifts upwards following reports of a valuation over ¥800bn in a potential sale to private equity. Guidance of ¥18.5bn in EBIT and ¥64.5bn in EBITDA missed consensus of ¥34bn and ¥90bn respectively however.</p>

Hitachi Metals posted reasonable results yesterday as the share price very gently drifts upwards following reports of a valuation over ¥800bn in a potential sale to private equity. Guidance of ¥18.5bn in EBIT and ¥64.5bn in EBITDA missed consensus of ¥34bn and ¥90bn respectively however.

Hitachi Metals – Is Net Debt Improvement Really a Positive?