{
  "docId": "019dd923-622c-750b-8b9a-26b63f68bb16",
  "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",
  "orientation": "landscape",
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  "pageNumber": 55,
  "pageCount": 334,
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  "nextPage": 56,
  "slideType": "expose_contradiction",
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  "density": "balanced",
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  "notes": "スコーピオン・キャピタルのショートレポートの一部。ACTIS装置の販売台数と価格を推定し、レーザーテックの業績への貢献度が低いと主張している。",
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  "slideHref": "/slides/019dd923-622c-750b-8b9a-26b63f68bb16/55",
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      "kind": "callout",
      "text": "ACTISは2019年に発売されて以来、レーザーテックの売上高の約40%（5130億円→33億ドル@$1=¥155）を占めたことになる。しかし、インテルの実際の購入価格は上記の4000万ドルよりも安いと思われる。また、出荷台数は販売初期に集中したので、現在はACTISが売上高に占める比率は10%〜20%あるいは以下だと、スコーピオン・キャピタルは推定している。",
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    {
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      "kind": "metric",
      "text": "Cumulative ACTIS Units: 31",
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      "subkind": "primary",
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      "toolSlug": "quantification",
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      "kind": "paragraph",
      "text": "レーザーテックが極端紫外線関連で話題を振りまいている反面、同社が2019年に発売したACTIS装置の実際の出荷台数がどれほど少ないか、知ってもらう必要がある。数字を聞くと投資家たちは驚くだろう。レーザーテックが出荷台数、売上高の比重、販売動向を開示しない理由でもある。スコーピオン・キャピタルは、TSMC、インテル、サムスンの元幹部を含めてこの分野に精通している20名以上の取材先から得た情報により、ACTIS装置は約30台の装置しか設置されていないとの結論に至った。つまり、年平均6台。また、近年は新規設置台数が激減しているようだ。",
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      "kind": "source-note",
      "text": "出典：スコーピオン・キャピタルによる専門家の電話取材",
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      "kind": "table",
      "text": "Intel, TSMC, Samsung, Global Foundries, Marvell, Total",
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      "kind": "title",
      "text": "ACTISの累積販売：台数と金額",
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      "arcName": "Overcoming the Monster",
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