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  "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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      "text": "Across ~20 field visits, our investigators found that the 5-building complex was generally deserted and empty, except for one floor of a small 5-story office building that appeared to house low-level clerical or back-office staff, not R&D.",
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      "text": "Across ~20 field visits, our investigators found that the 5-building complex was generally deserted and empty, except for one floor of a small 5-story office building that appeared to house low-level clerical or back-office staff, not R&D. Our investigators never saw any security or guards during any visit – not what one would expect from a facility with cutting-edge R&D, sensitive industrial secrets, intellectual property, and the production or components of $50MM pieces of capital equipment. Our investigators saw no signs or gates forbidding entry onto the complex; wandered freely; were never asked who they were or asked to leave; and in fact were cheerfully welcomed by the occasional maintenance personnel, who were happy to answer questions about the status of the site.",
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      "text": "Lasertec Innovation Park",
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