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  "documentTitle": "Lasertec Corporation (6920)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-06-05 00:00:00",
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  "pageNumber": 42,
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      "text": "Lasertec is just an over-hyped assembler of third-party components with no EUV capability or intellectual property.",
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      "text": "Ushio LDP-based EUV source",
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      "text": "Isteq LPP-based EUV source",
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      "text": "Lasertec is a marginal, outdated DUV systems supplier masquerading as an EUV player. The reason is simple: unlike ASML, it never developed a 13.5nm EUV light source, and the source is the foundation and critical technology in any EUV system, whether for wafer production or inspection. All other components are secondary. In contrast to ASML, Lasertec is just an over-hyped assembler of third-party components with no EUV capability or intellectual property, first licensing an EUV source from Ushio, which is defective and a failure, as we shall document in great detail. It then quietly licensed one from a tiny Russian R&D project called Isteq, giving it a Japanese name - \"Urashima\" - to misrepresent it as \"in house\" technology. That source is also a debacle with the same fatal flaws.",
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      "text": "Source: https://www.spiedigitallibrary.org/conference-proceedings-of-spie/11609/116090L/Laser-assisted-discharge-produced-plasma-LDP-EUV-source-for-actinic/10.1117/12.2588788.full; https://www.euvlitho.com/2021/SS19.pdf",
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