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  "documentTitle": "Lasertec Corporation (6920)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2024-06-05 00:00:00",
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  "notes": "The slide uses a Q&A format to present expert testimony, highlighting specific operational failures (light source lifespan, tuning time, uptime) and economic implications (cost of redundant equipment).",
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      "text": "customers needed to buy more equipment than they originally planned to cover their requirements.",
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      "text": "Q: “This is the ACTIS A150?”",
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      "text": "Extensive troubles with light source; short lifespan, can only use for two months before replacement; low uptime; TSMC still using alternative legacy optical and e-beam tools due to problems; failed TSMC qualification",
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      "text": "Another longtime semiconductor industry executive based in Japan – who stated he is friendly with Lasertec’s CEO – corroborated that their EUV source is defective with a short lifespan and low uptime.",
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      "text": "Q: “And is that because of these problems with the A150 as far as the optics?",
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      "text": "A: “Yes. The KLA leading-edge optical inspection tool costs maybe $40 or $50 million. The SEM tool costs maybe $5 or $7 million. Scanning electron microscope. This costs $5 to 7 million, so the financial setup of optical and the CD-SEM is less money.” - Longtime, senior semicap equipment executive in Japan who is friendly with Lasertec’s CEO",
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      "text": "A: “They were the only company that came out with a so-called actinic inspection tool. They had bought out a new one for High-NA exposure equipment. At the early stage of their product, they had big trouble with the light source.”",
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      "text": "A: “Yes. They were struggling because the light source had a lifespan of three months, and then it needed replacement, and after replacement, they needed one month to tune the light source. So, the tool was only available for maybe 60% or 70%. So, customers needed to buy more equipment than they originally planned to cover their requirements. So, the switch from optical inspection to actinic inspection was kind of slow, slower than everybody anticipated. From what I hear from others who are involved in the inspection and quality assurance flow at TSMC, I hear that they are still using optical inspection tools from KLA and combined with an electron beam kind of tool to review potential defects. The current setup is based on an optical and electron beam inspection scheme, not actinic.”",
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      "text": "“at the early stage of their product, they had big trouble with the light source”; “they were struggling” because of the short lifespan “and then it needed replacement and after replacement they needed one month to tune the light source...so the tool was only available for maybe 60% or 70%...customers needed to buy more equipment than they originally planned to cover their requirements.” — Longtime, senior semicap equipment executive in Japan who is friendly with Lasertec’s CEO",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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