{ "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": 212, "pageCount": 334, "prevPage": 211, "nextPage": 213, "slideType": "quote_slide", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses direct quotes from a former TSMC procurement executive to frame Lasertec as a secondary, low-priority vendor used primarily for price negotiation.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/212", "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-212", "components": [ { "bbox": null, "kind": "callout", "text": "TSMC will keep a minimal share for Lasertec...we believe [Intel] purchased Lasertec because they want to have some leverage power with KLA because KLA’s price is even higher", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-78b7-702e-9617-1984b10ea5bf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "He detailed TSMC’s frustration and exasperation with Lasertec around a variety of issues, such as pitifully low mask inspection throughput and problems in inspecting with a pellicle, and described it as “kind of an endless negotiation...to try and convince Lasertec to improve their performance...to try to convince them to change their performance, the quality.” He indicated that TSMC has no real interest in purchasing from Lasertec, and that both TSMC and Intel do so only to have pricing leverage with KLA: “TSMC will keep a minimal share for Lasertec...we believe [Intel] purchased Lasertec because they want to have some leverage power with KLA because KLA’s price is even higher...TSMC spent a lot of money on KLA’s particle inspection tools...that’s very, very expensive.”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "602db4d1-f619-4250-9647-019bd86b5054", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.86, "x": 0.07, "y": 0.72 }, "kind": "quote", "text": "TSMC and Intel mainly bought tools from Lasertec to have some pricing leverage with KLA “TSMC will keep a minimal share for Lasertec...KLA is what we call opportunistic...they increased the price...they deal with a hard hand. For the past three years, Intel purchased some tools, maybe two or three from Lasertec. But we believe they want leverage with KLA. We mainly think they purchased Lasertec because they want to have some leverage power with KLA because KLA’s price is even higher... TSMC spent a lot of money on KLA’s particle inspection tools, like SP5, SP7, and SP6. That’s very, very expensive.” – Longtime ex-TSMC procurement executive who introduced Lasertec inspection tools into TSMC", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0a5060f3-0ff5-4ac2-b3e2-7db123179c6e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.45 }, "kind": "quote", "text": "TSMC is frustrated with Lasertec; “endless negotiation...to try to convince them to change their performance, quality” “The Japanese guys, it is not easy to change their minds. We keep asking, you don't need to perform 100; you just perform 60 because I only needed the goal of 60. Okay, but I need to do it very fast. But the Japanese guys say, no, no, no. We care about the quality. We don't want to miss it. We don't want to miss any defects. But sometimes it's not necessary. And also come by another issue. The pellicle is also another issue. Some masks are with pellicle; some masks are without the pellicle. So, it's a kind of an endless negotiation. The negotiation is to try to convince Lasertec to improve the performance. The negotiation is to try to convince them to change their performance, the quality...You can decrease your quality but increase, improve your throughput.” – Longtime ex-TSMC procurement executive who introduced Lasertec inspection tools into TSMC", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9060978d-d78d-4c7c-bdc9-76b1fafb07dc", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“The Japanese guys, it is not easy to change their minds. We keep asking, you don't need to perform 100; you just perform 60 because I only needed the goal of 60. Okay, but I need to do it very fast. But the Japanese guys say, no, no, no. We care about the quality. We don't want to miss it. We don't want to miss any defects. But sometimes it's not necessary. And also come by another issue. The pellicle is also another issue. Some masks are with pellicle; some masks are without the pellicle. So, it's a kind of an endless negotiation. The negotiation is to try to convince Lasertec to improve the performance. The negotiation is to try to convince them to change their performance, the quality...You can decrease your quality but increase, improve your throughput.” — Longtime ex-TSMC procurement executive who introduced Lasertec inspection tools into TSMC", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-78b7-702e-9617-1d1f7d544e7b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.07, "y": 0.95 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b0f1ba87-7424-43d8-9354-130b0debe163", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }