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  "docSlug": "9abaa7a9bbfc",
  "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",
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  "pageNumber": 50,
  "pageCount": 334,
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  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
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  "notes": "The slide highlights the lack of transparency from Lasertec's management regarding key performance metrics.",
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  "slideHref": "/slides/019dd923-622c-750b-8b9a-26b63f68bb16/50",
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  "components": [
    {
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      "kind": "callout",
      "text": "同社のCEOとCFOのはぐらかしの話術はまれにみるものだ。四半期ごとの決算説明会ではアナリストの質問に対して、当たり障りのない、不明瞭な答えばかりでその場を切り抜けている。",
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      "kind": "list",
      "text": "Excerpts from analyst Q&A sessions in 2022 showing management's evasive responses regarding product-specific sales and order details.",
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      "kind": "paragraph",
      "text": "売上高において極端紫外線装置が占める比重、あるいは四半期ごとの販売台数の動向を、開示しようとしないレーザーテック。それを不思議に思う投資家がいてもおかしくない。同社のCEOとCFOのはぐらかしの話術はまれにみるものだ。四半期ごとの決算説明会ではアナリストの質問に対して、当たり障りのない、不明瞭な答えばかりでその場を切り抜けている。半導体製造装置業界で当然の関心事項でさえ、きちんと答えない。アナリストはこの5年間、ACTIS極端紫外線装置について、売上高に占める比重、受注高、従来のMATRICS深紫外線装置との販売動向の比較などの重要情報を引き出すよう、努めてきた。しかし、努力の甲斐なし。",
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    {
      "bbox": null,
      "kind": "quote",
      "text": "「受注している内訳はわれわれとしてはご説明してないんですが、上期の受注を見ると、MATRICS X8ULTRAもACTISも、両方とも受注として計上されております。」 — 岡林 (Lasertec CEO)",
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      "text": "出典：https://www.lasertec.co.jp/ir/data/result.html",
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      "kind": "title",
      "text": "四半期決算説明会におけるCEOとアナリストとのやり取り（抜粋）",
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      "arcName": "Overcoming the Monster",
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