{ "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": 21, "pageCount": 334, "prevPage": 20, "nextPage": 22, "slideType": "appendix_methodology", "function": "other", "density": "dense", "nDataPoints": 0, "notes": "This slide serves as a disclosure of research methodology and source credibility.", "elementsJson": [ "paragraph", "bullet_list" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/21", "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-21", "components": [ { "bbox": null, "kind": "callout", "text": "Sample of experts we consulted as part of our research (cont’d)", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-78b6-764f-bc77-9ec404e429f4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.86, "x": 0.07, "y": 0.62 }, "kind": "list", "text": "Leading figures in EUV light source development\nKey figure in the development of Cymer/ASML’s EUV light source; headed KLA’s EUV source effort; one of the top scientist/experts in the field\nKey R&D employee at Isteq, the Russian R&D project from which Lasertec licensed their “new” Urashima light source technology", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "55fdb766-c10b-46d7-87dd-4868dccd7a4b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.85 }, "kind": "list", "text": "Other industry executives and experts\nLeading EUV lithography expert close to Lasertec, Intel, KLA, and other key players\nLongtime semiconductor consultant recently working for Lasertec; close to KLA management\nLongtime, senior semicap equipment executive in Japan who is friendly with Lasertec’s CEO", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6eba90d1-6750-4ee6-939f-d2e5a907d795", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.45 }, "kind": "list", "text": "Lasertec and Ushio field service engineers working full-time on its ACTIS EUV systems, and one for its DUV tools\nFormer Lasertec field service engineer who worked in the Intel mask shop\nFormer Lasertec field service engineer at TSMC fab in Taiwan\nFormer Lasertec product engineer; 20 years in the industry and previously part of the EUV task force at one of the top 3 semiconductor companies in the world\nUshio field engineer who maintains light sources on Lasertec ACTIS machines at Intel’s Oregon fabs", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "746a2bec-37ce-451f-b50e-0311b86a4747", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.75 }, "kind": "list", "text": "KLA; 2 sources plus other industry sources in touch with KLA regarding its imminent EUV mask inspection system\nFormer executive in a leadership position in their EUV mask inspection group, described recent interactions directly with Lasertec\nEx-KLA director of engineering focused on EUV mask inspection", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d9648ec5-7c46-4cfe-8e8f-112f43f3ebad", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.3, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "Additional research sources included 3 Lasertec field engineers working full-time on its ACTIS EUV systems, including one based inside Intel’s mask shop in Santa Clara, CA and one at TSMC’s fab in Taiwan, and an Ushio engineer inside Intel’s fab responsible for Lasertec’s EUV source; two of the leading experts in EUV source development, including one who played a key role in ASML/Cymer’s source and one at Isteq; multiple industry executives in Japan, including two in touch with Lasertec’s CEO; a leading EUV lithography expert close to Lasertec and its key customers; and several sources at KLA, such as an ex-executive in a leadership position in its EUV mask inspection group.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "852de17c-e77b-4596-838e-0ae1ab363854", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.07, "y": 0.4 }, "kind": "title", "text": "Sample of experts we consulted as part of our research (cont'd)", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ea064cd9-3290-4ebd-8772-36778be6b674", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Audience Definition", "slug": "audience-definition", "agent": "Storyteller", "layer": "slide", "matchId": "ec12ab18-faae-409a-ae1f-8638cfa72ea6", "evidence": "Sample of experts we consulted as part of our research (cont'd)", "confidence": 0.7 } ], "frameworks": [], "arcBeats": [ { "to": 80, "from": 11, "beatId": "7e31b42d-7913-4bdc-94a9-6f7195daecb2", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "The deck presents numerous slides exposing alleged contradictions and flaws in Lasertec's products and financials.", "position": 2, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }