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  "docSlug": "f982379e2e48",
  "documentTitle": "Lasertec Corporation (6920)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-06-05 00:00:00",
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  "notes": "Uses a screenshot of a cached website as evidence of corporate affiliation.",
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  "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/176",
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      "kind": "callout",
      "text": "“Overseas our company presents the company Isteq – subsidiary company EUV-Labs”",
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      "kind": "callout",
      "text": "Isteq appears to be a subsidiary of Russia-based RnD-ISAN, per cached version of www.rnd-isan.ru",
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      "text": "The Cymer scientist’s assessment of Lasertec’s defective light source was corroborated by Isteq, the Russia/Netherlands company that developed the new “Urashima” source that Lasertec is now using. We spoke with a longtime, senior member of the technical team at Isteq, which is a Netherlands entity affiliated with a Russian firm which calls itself “Rnd-ISAN” or “EUV Labs.” Despite positioning itself as a non-Russian company given the current Russia sanctions, Isteq appears to be a subsidiary of RnD-ISAN. We note that the enterprise is extremely small and appears to be little more than a research institute, showing only 12 staff on LinkedIn. RnD-Isan’s Russian website no longer appears to be working, but a cached version at the Internet Archive’s Wayback Machine states that “overseas our company presents the company Isteq – subsidiary company EUV-Labs.”",
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