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  "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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  "pageNumber": 185,
  "pageCount": 334,
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  "notes": "The slide uses strong, emotive language ('struggling', 'exasperated', 'furious', 'painful', 'stupid') to frame the company's product performance as a critical failure.",
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      "kind": "callout",
      "text": "Key customers are “really struggling about what to do”; “it’s painful, extremely painful” to use Lasertec’s tool; “it would be stupid” to buy more machines.",
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      "text": "revenue concentration: 77%",
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      "text": "6. Lasertec’s largest customers – notably TSMC, Intel, and Samsung, which are 77% of its revenue – are struggling, exasperated, and/or furious with its EUV mask inspection system, as well as its DUV systems, which we believe to still comprise the vast majority of its revenue. Key customers are “really struggling about what to do”; “it’s painful, extremely painful” to use Lasertec’s tool; “it would be stupid” to buy more machines.",
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      "text": "“really struggling about what to do”; “it’s painful, extremely painful” to use Lasertec’s tool; “it would be stupid” to buy more machines. — Anonymous Key Customers",
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