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  "documentTitle": "Lasertec Corporation (6920)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2024-06-05 00:00:00",
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  "notes": "第9部：KLAの市場参入によるレーザーテックの事業崩壊リスクに関する詳細レポート。",
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      "text": "KLAの市場進出によってレーザーテックの極端紫外線マスク検査装置の事業が崩壊する",
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      "text": "市場への影響：TSMC等の顧客はKLAの参入を利用してレーザーテックの価格を叩く可能性がある。KLAはマスク検査のP2/P3段階で勝利し、P1段階の独占と合わせて市場を支配する見通し。",
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      "text": "KLAの技術的信憑性：過去の遅延はASMLの露光装置発売タイミングの読み間違いによるものであり、技術的問題ではない。コンサルタントA氏によれば、当初は購入見込み顧客がいなかったため開発を意図的に見合わせていた。",
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      "text": "KLAの技術力：元幹部は実用化能力に自信を見せる。専門家はKLAのキセノン光源がレーザーテックの錫方式より優れており、レーザーテックにとって致命的な打撃になると指摘。",
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      "text": "「10億ドルに近い投資です。私が知っているかぎり、順調に進んでいます。もちろん、実現します。でたらめじゃないですよ。ウォール街の期待に応えようとしています」 — KLA関係者",
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