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  "docSlug": "f982379e2e48",
  "documentTitle": "Lasertec Corporation (6920)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "presentationDate": "2024-06-05 00:00:00",
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  "notes": "Activist quote slide with highlighted phrases emphasizing customer reliance on competitor tools. Source: Scorpion Capital consultation calls with experts. Page number 208 visible bottom right.",
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      "text": "TSMC struggling to phase in Lasertec; \"hasn't been very successful\"; key customers relying on legacy DUV and SEM tools",
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      "text": "Q/A transcript with senior semicap executive: 'TSMC was the first one to adopt the Holon tool...other customers in the EUV space are also adopting' it; 'I'm not quite sure to what degree they have succeeded in phasing in Lasertec tools'.",
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        "speaker": "Longtime senior semicap equipment executive in Japan friendly with Lasertec's CEO",
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      "text": "“You're saying their using optical means that they're not getting the results from the Lasertec machine by itself. They have to use a second tool?” ... “Correct. Before Lasertec came out with their actinic tool, they needed to establish some way of inspecting the EUV masks. They used an optical tool from KLA... they need a combination of optical DUV and electron beam inspection to inspect the mask.” ... “TSMC was the first one to adopt the Holon tool, and I think Samsung, Intel, and most of the other customers in the EUV space are also adopting the Holon tool.” ... “I'm not quite sure to what degree they have succeeded in Lasertec tools to the production cycle, but from what I hear from this company, Holon said that hasn't been very successful so far. So, they are still ordering considerable quantities of Holon inspection machines.” — Longtime, senior semicap equipment executive in Japan who is friendly with Lasertec's CEO",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "TSMC struggling to phase in Lasertec; 'hasn't been very successful'; key customers relying on legacy DUV and SEM tools",
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      "kind": "title",
      "text": "The semicap executive was skeptical as 'to what degree [TSMC] have succeeded in phasing in Lasertec tools to the production cycle' - confirming issues in both of its use cases in the mask shop as well as the fab.",
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