{ "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": 150, "pageCount": 334, "prevPage": 149, "nextPage": 151, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 1, "notes": "The slide uses a Q&A transcript format to build a case for corporate fraud/misrepresentation.", "elementsJson": [ "paragraph", "data_table", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/150", "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-150", "components": [ { "bbox": null, "kind": "callout", "text": "We note that the engineer appeared nervous at times while answering our questions, in a manner that suggested to us a coordinated attempt between Lasertec and its key customers to conceal that the “new” A300/Urashima announcement is essentially fake.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-78b6-764f-bc83-2bccd170754d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.86, "x": 0.07, "y": 0.39 }, "kind": "list", "text": "Ushio engineer confirmed that the Isteq/Urashima source already powers most of the ~10 Lasertec machines Intel has at its fab", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9ef722ff-4f9b-497f-9125-97ff47694b1d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.45, "w": 0.86, "x": 0.07, "y": 0.45 }, "kind": "paragraph", "text": "Q: “This Urashima light source, it sounds like they licensed it from a company in the Netherlands called Isteq, which is technology from Russia or the University of Moscow.”\nA: “Those are all things that I’ve heard, yes.”\nQ: “They have all these papers on the SPIE website. These other light sources, are they this Urashima light source, or is it something else that they tried?”\nA: “Yeah, I’m pretty sure it’s the same Urashima light source.”\nQ: “So, you’re saying of the 10-ish machines up there, you say only 3 have an Ushio light source?”\nA: “That’s correct.”\nQ: “Could it be that those other machines are actually the Ushio light source, and they’re just maintaining it themselves, or you’re pretty sure those are Urashima light sources?”\nA: “They are not Ushio sources...I know they have a different light source...I know they announced the Urashima source. That’s what I’ve heard it called. I’ve heard Isteq thrown around as the creator of the IP for that source.” – Ushio field engineer who maintains light sources on Lasertec ACTIS A150 machines at Intel Oregon fab", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "500ccbf7-4cac-4934-96fc-9f6441f31680", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "The Ushio engineer confirmed that the remaining machines have already been “Urashima” machines since 2022: “they are not Ushio sources...I know they have a different light source...I know they announced the Urashima light source...that’s what I’ve heard it called...I’ve heard Isteq thrown around as the creator of the IP for that source.” We note that the engineer appeared nervous at times while answering our questions, in a manner that suggested to us a coordinated attempt between Lasertec and its key customers to conceal that the “new” A300/Urashima announcement is essentially fake.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "df371bc9-e666-4197-8fed-bb41b1a00deb", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "They are not Ushio sources...I know they have a different light source...I know they announced the Urashima source. That's what I've heard it called. I've heard Isteq thrown around as the creator of the IP for that 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-bc83-2d28418673c5", "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": "41113f80-7842-4822-a923-4c76d3e54e78", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "fea0b11f-db24-4143-b086-6e986e58a38b", "evidence": "The slide explicitly frames the content as evidence of a 'coordinated attempt' to 'conceal' that an announcement is 'fake'.", "confidence": 0.95 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }