{ "docId": "019dd923-622c-750b-8b9a-2ecae53b8884", "docSlug": "e1eb4b2e6802", "documentTitle": "Lasertec Corporation (6920)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2024-06-05 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 41, "pageCount": 56, "prevPage": 40, "nextPage": 42, "slideType": "executive_summary", "function": "summarize", "density": "dense", "nDataPoints": 2, "notes": "第8部として構成された調査レポートの要約。市場の飽和と技術的適合性の欠如を主張。", "elementsJson": [ "headline_text", "paragraph", "bullet_list" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-2ecae53b8884/41", "deckHref": "/decks/019dd923-622c-750b-8b9a-2ecae53b8884", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-2ecae53b8884.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-2ecae53b8884#slide-41", "components": [ { "bbox": null, "kind": "callout", "text": "レーザーテックの極端紫外線の市場は、需要が尽きてはじめています。", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5372-7340-8f8a-6123c0567d3f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.86, "x": 0.07, "y": 0.35 }, "kind": "list", "text": "製品不良、顧客の不満、滞留し増えつづけている在庫。レーザーテックにとっての極端紫外線の市場は尽きてきている。", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5e9c6683-f71d-474b-995b-39a13ef252d8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.42 }, "kind": "list", "text": "レーザーテック製の装置は2通りの使い道しかない：マスク工場とファブの生産ラインの2つだ。TSMCとインテルはマスク工場にそれぞれ5、6台しか設置しておらず、長い間増設していない。", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b210eac8-bda0-42e9-a5a7-83ff21e3acd5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.51 }, "kind": "list", "text": "レーザーテックの成長の可能性として、残るはインテルがACTIS装置をファブの生産ラインに増設することだ。TSMCは生産ラインに関してはACTIS装置は失敗だと結論づけている。", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b680aab5-5a47-4b9f-a4fa-c7f2023a8252", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.6 }, "kind": "list", "text": "「顧客は95%以上の信頼性を期待しています。レーザーテック製の装置は信頼性が、つまり稼働率が95%になりません。検査装置にとってはマスク工場はドル箱です。」", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fc7104ae-e0e6-482b-aff0-bf1d94021aa2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.02, "x": 0.95, "y": 0.95 }, "kind": "other", "text": "41", "attrs": null, "subkind": "unclassified", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "512714b7-d608-42ec-ba0c-5ab6cb5b1912", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.08, "x": 0.85, "y": 0.12 }, "kind": "other", "text": "252～265", "attrs": null, "subkind": "unclassified", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e7ebd037-758d-4302-b48a-6e4bc5ccd81a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.86, "x": 0.07, "y": 0.18 }, "kind": "paragraph", "text": "製品不良、顧客の不満、まともな極端紫外線光源の不在をさておき、レーザーテックの過去5年間における成長を牽引した要素はいずれも儚いものだった。つまり、(1)業界における5ナノメートルへの移行、(2)ASML製の露光装置の購入に伴っての検査装置の購入、(3)TSMC、インテル、サムスンのマスク工場とファブへの導入、これらが一巡し、ワンシーズンが終わった状態だ。", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4c89193d-21e4-4a4a-97cd-64ecbdf2dfd1", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "「おおよそ一段落ですね。この2年ほど、5ナノメートル関連が成長のほとんどでした。今後は買うならば3ナノメートルと2ナノメートルの関連でしょう。しかし、それらの発注を延期しています」 — KLAの元幹部", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5372-7340-8f8a-670f65c42de1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.86, "x": 0.07, "y": 0.12 }, "kind": "title", "text": "第8部 レーザーテックの極端紫外線の市場は、需要が尽きはじめている。ACTISシリーズの製品は、成長と展望に期待が持てない。", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "de17b158-0dea-4d59-9ef8-ea60cd023468", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "詳細サマリー・調査結果", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7c8e8a27-92b3-4ebc-a970-5febfd0d95e4", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 56, "from": 7, "beatId": 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