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  "documentTitle": "Lasertec Corporation (6920)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-06-05 00:00:00",
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  "notes": "The red boxes highlight the period starting in 2019, which the author links to the launch of the ACTIS extreme ultraviolet equipment.",
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      "kind": "callout",
      "text": "重ねて強調するが、棚卸資産高が膨らみはじめたのは、レーザーテックがACTISの極端紫外線装置を発売した2019年〜2020年だ。",
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      "text": "棚卸資産／売上高",
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      "text": "棚卸資産／総資産",
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      "kind": "metric",
      "text": "Inventory/Revenue and Inventory/Total Assets",
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      "kind": "paragraph",
      "text": "レーザーテックの棚卸資産高の不可解な上昇について、下記の2つの表で確認できる。これらの表では、2010年6月期から直近の12ヶ月間の棚卸資産高を、売上高と総資産の各パーセントで表している。重ねて強調するが、棚卸資産高が膨らみはじめたのは、レーザーテックがACTISの極端紫外線装置を発売した2019年〜2020年だ。その頃から同社の名目上の売上高と利益率は急速に伸びはじめ、株価の2000%以上にもなる上昇へと導いた。",
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      "text": "出典：スコーピオン・キャピタルによる推定及び分析, S&P Capital IQによるデータ",
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      "text": "レーザーテックの棚卸資産／売上高と棚卸資産／総資産の各推移",
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