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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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      "text": "In order to provide sufficient capacity, customers need to purchase more than one tool where they only would need one.",
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      "text": "Light source fails quickly and has low efficiency, forcing customers to buy back-up machines in excess of their needs\nQ: \"What have you heard about the light source problem, and what the status is with this Urashima product?\"\nA: \"I heard it's made by Ushio, and the problem is the lifetime is only three months. And out of the three months, tuning is one month, so they can only use it for two months until they have to replace it again. So, it's very low efficiency. In order to provide sufficient capacity, customers need to purchase more than one tool where they only would need one.\"\nQ: \"They must be completely pissed off.\"\nA: \"Yes. That's the failure of the qualification at TSMC—that's a good possibility. And from another source, I heard that they are still using optical and electron beam solution.\" -Longtime, senior semicap equipment executive in Japan who is friendly with Lasertec's CEO",
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      "text": "I heard it's made by Ushio, and the problem is the lifetime is only three months. And out of the three months, tuning is one month, so they can only use it for two months until they have to replace it again. So, it's very low efficiency. In order to provide sufficient capacity, customers need to purchase more than one tool where they only would need one. ... That's the failure of the qualification at TSMC—that's a good possibility. And from another source, I heard that they are still using optical and electron beam solution. — 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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      "text": "The intelligence provided by the executive is particularly damning, given his leadership role at a Japanese semiconductor equipment company and his relationship with Lasertec's CEO. He elaborated that the EUV light source is \"very low efficiency...in order to provide sufficient capacity, customers need to purchase more than one tool where they only would need one.\"",
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