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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 screenshots of academic papers from 2013 and 2016 to prove the technology is not new.",
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      "text": "Lasertec could easily have licensed the Isteq technology prior to the ACTIS A150 launch in 2019 but chose Ushio instead.",
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      "text": "While Lasertec represents Urashima as a “new” and improved EUV light source, it is simply an old Isteq LPP laser-produced plasma technology developed over a decade ago. Lasertec could easily have licensed the Isteq technology prior to the ACTIS A150 launch in 2019 but chose Ushio instead. Given that there are only two or three EUV source suppliers to choose from, it is obvious that Lasertec would have evaluated Isteq over five years ago prior to rejecting it for Ushio – and are now desperately trying to cover up the Ushio failure and trying Isteq as a Hail Mary. We note various Isteq papers going back to 2013 on their LPP system.",
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      "text": "Source: https://www.euvlitho.com/2013/S40.pdf; https://pubs.aip.org/aip/jap/article-abstract/120/16/163304/133078/Droplet-based-high-brightness-extreme-ultraviolet?redirectedFrom=fulltext",
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