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  "documentTitle": "Lasertec Corporation (6920)",
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      "text": "In Lasertec's case, the offset is highly anomalous inventory of ¥162B/$1.1B, hitting 120-130% of revenue in some recent quarters and currently at 70% of LTM revenue.",
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      "text": "Lasertec suddenly fired their longtime auditor Deloitte Touche Tohmatsu in 2018, after using them for at least the previous 15 years – a red flag as auditors are typically only fired after they start asking too many questions.",
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      "text": "In Lasertec's case, the offset is highly anomalous inventory of ¥162B/$1.1B, hitting 120-130% of revenue in some recent quarters and currently at 70% of LTM revenue. The inventory makes no sense and has never been adequately explained.",
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      "text": "Effectively, the company is deferring reporting inventory expenses to a later period. The inventory account will increase rapidly over time and keep getting larger and larger. In frauds there is a limit and eventually the bubble must burst...",
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