{
  "docId": "019dd923-622c-750b-8b9a-0f4bec37392f",
  "docSlug": "f982379e2e48",
  "documentTitle": "Lasertec Corporation (6920)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-06-05 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 149,
  "pageCount": 334,
  "prevPage": 148,
  "nextPage": 150,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 4,
  "notes": "The slide uses a Q&A transcript to highlight a discrepancy between public claims and field reality regarding the 'Urashima' light source.",
  "elementsJson": [
    "paragraph",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/149",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-149",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.86,
        "x": 0.07,
        "y": 0.46
      },
      "kind": "callout",
      "text": "Ushio states that Lasertec started using Urashima light source in 2022; only 3 of ~10 machines in Intel Oregon have the Ushio light source",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "eded2ec3-5fe4-465f-937c-cd4a955c95c9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "The rest have the Isteq source now misleadingly labeled as “Urashima.”",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-78b6-764f-bc83-122e9373b2d2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.86,
        "x": 0.07,
        "y": 0.07
      },
      "kind": "paragraph",
      "text": "Multiple other research sources revealed to us that far from being a “new” product announced in November 2023, Lasertec began quietly replacing the Ushio source with the Isteq one approximately 18 to 24 months ago, sometime in 2022.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "061f10b1-fd2b-4450-a8f7-ae2bb4b43944",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.22,
        "w": 0.86,
        "x": 0.07,
        "y": 0.19
      },
      "kind": "paragraph",
      "text": "An Ushio field service engineer based at Intel’s fab in Oregon stated that Intel has only about ten Lasertec mask inspection machines in total in production – and that only three of these ten still have the Ushio source. The rest have the Isteq source now misleadingly labeled as “Urashima.” The engineer stated that of the 4 machines that were installed at the fab between 2020 and 2022, the first 3 had the Ushio source and then the Isteq/Urashima source starting in 2022: “...the last one was a different light source.”",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "57e25d58-efaa-4be9-bc6f-6e5fe3d2be4b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.28,
        "w": 0.86,
        "x": 0.07,
        "y": 0.53
      },
      "kind": "quote",
      "text": "A: “There might have been one. After the first 3, the rest of the machines, I don't work on those.” Q: “Is it a colleague at Ushio who works on those?” A: “No.” Q: “Who does the light source? They just handle it themselves on those other ones?” A: “Yes.” Q: “I see. So, you're saying they had a different light source for these other ones that they put in?” A: “That's correct.” Q: “So, you're saying that they put in – how many machines between 2020 and 2022?” A: “I think there were 4.” Q: “So, four between 2020 and 2022. And those were with the Ushio light source?” A: “The first 3 were. The last one was a different light source.” – Ushio field engineer who maintains light sources on Lasertec ACTIS A150 machines at Intel Oregon fab",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "33fa1e3f-05c9-47e1-8d91-b8523758edd0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“The first 3. The last one was a different light source.” — Ushio field engineer who maintains light sources on Lasertec ACTIS A150 machines at Intel Oregon fab",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-78b6-764f-bc83-14435a836314",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.3,
        "x": 0.07,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Scorpion Capital consultation calls with experts",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "49d01788-99f1-45ef-a994-0055d0365a10",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "a05027f8-6024-4f8a-b9b3-0c12e02d1c02",
      "evidence": "The slide explicitly aims to expose a contradiction between public product announcements and private field data.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}