{
  "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": 220,
  "pageCount": 334,
  "prevPage": 219,
  "nextPage": 221,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": "The slide uses a Q&A transcript format to validate the thesis of product failure.",
  "elementsJson": [
    "paragraph",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/220",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-220",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Lasertec probably must write off those tools.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-78b7-702e-9617-61653abf9aed",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.07,
        "y": 0.35
      },
      "kind": "paragraph",
      "text": "TSMC is upset with Lasertec; problems with the source; A300 with new light source failed in the qualification period",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "edd09310-a96b-46b3-85b8-b4a1a9263223",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.85,
        "x": 0.07,
        "y": 0.53
      },
      "kind": "quote",
      "text": "A: “Yes. Intel doesn’t return the tool. TSMC is upset. The source does not have enough uptime, cost of service is too high, they are flickering. Therefore, they upgraded to the new source one or two—I don’t remember how many tools that have the new Urashima or Isteq source. Mid last year to the end of last year. At the beginning of the year, I heard that they failed.”",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "17f21020-b971-4bfd-bab3-b895df1208b4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.85,
        "x": 0.07,
        "y": 0.4
      },
      "kind": "quote",
      "text": "A: “It’s exactly what I told you. Lasertec convinced TSMC to take a new upgrade of the source, which is an Urashima source. There was a lot of wow around it. And when they released that source to TSMC, and that’s it. We didn’t hear anything else. What I know is that TSMC is upset because the source is not working.”",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "265469b7-fedd-4834-ab79-88f35ecc577b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.07,
        "y": 0.74
      },
      "kind": "quote",
      "text": "Q: “You’re saying the A150 used the Ushio source. The A350, the Urashima, is the Isteq source. So, you’re saying Urashima has already failed after six months with TSMC.”",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "62525e3e-5840-4fdd-8193-0e99e5da72be",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.85,
        "x": 0.07,
        "y": 0.79
      },
      "kind": "quote",
      "text": "A: “Correct. That’s my speculation...now I know exactly what happened because I thought that the tools were shipped back. Lasertec probably must write off those tools.” - Former KLA executive in a leadership role in their EUV mask inspection group",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6db2a303-36da-4c96-ae7a-b738fc8ca551",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.85,
        "x": 0.07,
        "y": 0.5
      },
      "kind": "quote",
      "text": "Q: “So, TSMC evaluated the Isteq source for six months and it failed.”",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "88ca74cd-c3d2-4368-9bcc-e73f211e7ffb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.85,
        "x": 0.07,
        "y": 0.63
      },
      "kind": "quote",
      "text": "Q: “When they switched the source—they announced a product a few weeks ago in November 2023—they had the Actis A150. They announced the Actis A300 and they said it has the Urashima light source. What is Urashima?”",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a2459859-3c09-4cbf-b82b-b5645d8f5efc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.07,
        "y": 0.69
      },
      "kind": "quote",
      "text": "A: “Urashima is basically Isteq’s source and then the product is called Urashima. This is Lasertec’s name. Isteq is the company that manufactures this source and it’s actually a Russian university.”",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e3fd5d57-3bc1-413a-9420-26f4983fecb7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“what I know is that TSMC is upset because the source is not working...TSMC is upset...the source does not have uptime, cost of service is too high, they are flickering.” — Former KLA executive in a leadership role in their EUV mask inspection group",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-78b7-702e-9617-66ac84eb0b37",
      "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": "be0bd6ac-0884-4485-9b9f-9244df124a6f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}