{
  "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": 59,
  "pageCount": 334,
  "prevPage": 58,
  "nextPage": 60,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 2,
  "notes": "Uses a direct quote from a competitor's CFO to undermine the target company's narrative.",
  "elementsJson": [
    "paragraph",
    "quote_block",
    "photo"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-0f4bec37392f/59",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-0f4bec37392f#slide-59",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "KLA locked up the mask inspection space long ago with its Teron DUV systems – giving it a well-entrenched monopoly unlike the imaginary one Lasertec claims in EUV.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-78b6-764f-bc7a-eb204cdf2ba7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.07,
        "y": 0.68
      },
      "kind": "image",
      "text": "Teron SL670e and Teron SL670e XP systems",
      "attrs": null,
      "subkind": "photo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "796d31d8-208a-4d7d-91a2-07b435706232",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.35,
        "x": 0.53,
        "y": 0.73
      },
      "kind": "paragraph",
      "text": "Teron™ SL670e and Teron™ SL670e XP: EUV Reticle Quality Control",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a752e95f-ad6c-4509-bc53-8e48161743ae",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.18,
        "w": 0.86,
        "x": 0.07,
        "y": 0.48
      },
      "kind": "quote",
      "text": "And the economics of running the fab is playing to our optical solutions and our wafer inspection solutions to validate reticles in the fab environment. So clearly, that's playing out in the EUV space, 90%-plus reticles are running through KLA systems.",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "36ae7486-8721-4878-962a-7c2b43bc08e0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“in the EUV space, 90%-plus reticles are running through KLA systems” — KLA CFO Bren Higgins at Morgan Stanley, March 2023",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-78b6-764f-bc7a-ece349490cd7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.07,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: CapitalIQ transcripts; https://www.kla.com/advance/innovation/teron-sl670e-and-teron-sl670e-xp-euv-reticle-quality-control",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8c999a5e-b5c6-4b5a-93b8-7c4c838be6f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.86,
        "x": 0.07,
        "y": 0.07
      },
      "kind": "title",
      "text": "Lasertec may try to spin its archaic DUV tools as “EUV-related,” but its DUV business is just as irrelevant as its EUV product.",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "08da2cf7-f971-4790-968c-0218953dacbb",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "34f42033-d6c8-44de-b15d-e0f4bdb65e3c",
      "evidence": "Uses competitor data to debunk target company's market claims.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 80,
      "from": 11,
      "beatId": "7e31b42d-7913-4bdc-94a9-6f7195daecb2",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "The deck presents numerous slides exposing alleged contradictions and flaws in Lasertec's products and financials.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 60,
      "from": 43,
      "beatId": "5311c02f-c388-43cc-9826-568c719ac8a7",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Preempt Rebuttal",
      "beatSlug": null,
      "evidence": "The deck anticipates potential rebuttals and addresses them with evidence and expert testimonials.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}