{
  "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": 255,
  "pageCount": 334,
  "prevPage": 254,
  "nextPage": 256,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "The slide uses a Q&A format and direct quotes from industry insiders to build a case for slowing demand.",
  "elementsJson": [
    "paragraph",
    "quote_block"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/255",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-255",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "It is therefore no surprise that Intel and TSMC are both delaying Lasertec EUV tool orders.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-78b7-702e-961a-ec53dc60c404",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.86,
        "x": 0.07,
        "y": 0.38
      },
      "kind": "list",
      "text": "Both Intel and TSMC have been delaying Lasertec orders. TSMC is delaying orders, according to one of Intel’s most senior EUV engineers. Intel has only 3 Lasertec machines in its mask shop and utilization appears to be decreasing; plans to deploy machines in Arizona appear delayed.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "085aa660-9040-44e3-96cf-8aeb01ccf4d5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.28,
        "w": 0.86,
        "x": 0.07,
        "y": 0.07
      },
      "kind": "paragraph",
      "text": "It is therefore no surprise that Intel and TSMC are both delaying Lasertec EUV tool orders. A semiconductor executive in Japan in contact with Lasertec’s CEO stated “it has been slow...companies like TSMC were holding back...Intel was delaying their orders for more than a year.” One of Intel’s most senior and tenured engineers with leadership responsibility for EUV added that “TSMC is pushing out and delaying orders.” An ex-Lasertec field engineer based on-site at Intel’s mask shop stated that the shop has long been at full capacity with only three Lasertec tools: “there are just the machines in San Jose...it didn’t sound like they had plans of implementing any more....”",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f287d797-cf7b-49cc-9fab-212f3598db1a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"it has been slow...companies like TSMC were holding back...Intel was delaying their orders for more than a year.\" — Longtime, senior semicap equipment executive in Japan who is friendly with Lasertec's CEO; \"TSMC is pushing out and delaying orders. The Arizona original plan is now on hold. That's what they are telling their suppliers.\" — One of Intel's most senior and longtime engineers with leadership responsibility for EUV; \"There are just the three machines in San Jose. It didn't sound like they had plans of implementing any more in that location. Some of my ex-coworkers, they relocated some to Oregon... first, they moved some guys to Arizona, and then they moved the Arizona guys to Portland.\" — Former Lasertec field service engineer who worked in the Intel mask shop",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-78b7-702e-961a-f146b82bc177",
      "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": "5fd754bc-8876-43c0-8947-3b0cbc64ac14",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "authority-citation",
      "slug": null,
      "matchId": "d7c5904f-eba8-46f0-8070-fbca0d85870f",
      "evidence": "Uses expert testimony to validate claims",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}