{ "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": 313, "pageCount": 334, "prevPage": 312, "nextPage": 314, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses direct quotes from an earnings call to demonstrate a contradiction or lack of transparency.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/313", "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-313", "components": [ { "bbox": null, "kind": "callout", "text": "The CEO was evasive when the analyst pressed for an answer on production capacity: \"we have not announced...how much production will expand.\"", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-78b7-702e-961f-d4aef5552bff", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "Management re-iterated these claims during the Aug 7, 2023 Q&A with analysts, stating that “a clean room has been newly established...and is being used as a research and development base from July 2023.” A BofA analyst asked “how much will production capacity grow” and the CEO deflected, but was otherwise specific: “the new InnoPa development site has been in use since July for product assembly and final adjustments” and that they would “further increase production volume” there “once the second phase of construction is completed.” The CEO was evasive when the analyst pressed for an answer on production capacity: “we have not announced...how much production will expand.”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5d6a93b0-79c4-41d5-87a7-a11e9ebeb38f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.86, "x": 0.07, "y": 0.45 }, "kind": "paragraph", "text": "Management’s prepared comments on the slide showing the Innovation Park\n“Next, I would like to talk about the new R&D center, Lasertec Innovation Park, InnoPa. A clean room has been newly established at the new site and is being used as a research and development base from July 2023. The first phase of construction was completed at the end of June and operation started in July. The second phase of construction is scheduled to begin in October 2023.”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a24376be-d994-4048-b612-37bf9312884b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.86, "x": 0.07, "y": 0.58 }, "kind": "paragraph", "text": "Q&A with analysts - excerpts\nHirakawa [Q]: “This is Hirakawa from BofA Securities Japan. I would like to ask you about production capacity...when the first phase of construction was completed? Also, the second phase of construction is scheduled to begin in October of this year [...] when it is finished, how much will production capacity grow?”\nOkabayashi [A]: “...we have been increasing production capacity every year. In the current fiscal year, although we are unable to provide figures, the new InnoPa development site has been in use since July for product assembly and final adjustments, and we plan to further increase production volume once the second phase of construction is completed.”\nHirakawa [Q]: “The second phase of construction is scheduled to begin in October, but, this is the same question, when will it be completed and how much will production capacity grow?”\nOkabayashi [A]: “At this time, we have not announced when it will end or how much production will expand. We would like to discuss this when we are ready to make it public.”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b317b8f1-ba4f-4895-b58b-90476918e833", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"A clean room has been newly established...and is being used as a research and development base from July 2023.\" — Lasertec Management. \"I would like to ask you about production capacity...how much will production capacity grow?\" — Hirakawa (BofA Securities Japan). \"At this time, we have not announced when it will end or how much production will expand.\" — Okabayashi (CEO).", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-78b7-702e-961f-da210eeac6ba", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.35, "x": 0.07, "y": 0.96 }, "kind": "source-note", "text": "Source: https://ssl4.eir-parts.net/doc/6920/ir_material_for_fiscal_ym5/139603/00.pdf", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f11936ae-b5a4-40c2-8a44-d98d1b0416ea", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.45, "x": 0.07, "y": 0.41 }, "kind": "title", "text": "Lasertec prepared comments and analyst Q&A, Aug 7,2023", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "67bbab06-c398-43ea-8efc-035031e2a8c3", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "ceo-quote-contradiction", "slug": null, "matchId": "8478eb40-bea9-4b1f-ab18-4f7b464c6173", "evidence": "Contrasts specific facility claims with evasive answers on production capacity.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }