slides · global inventory
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Matching slides 79,264
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71,011-71,040 of 79,264
324
The slide uses a '>' character as a bullet point/indicator for the thesis statement.Harmony Biosciences (HRMY) · Scorpion Capital
Research note Short seller 1 hit
10
The slide highlights a discrepancy between market cap rank (64th in Japan) and trading volume (top 10 globally), comparing it to tech giants and semiconductor peers.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Allegations of accounting irregularitiesLoop · Aha Moment1 hit
15
The slide uses a narrative of 'accounting fraud' to frame the financial data. The charts show a divergence between high EBIT margins and low/negative free cash flow relative to market cap.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Allegations of accounting irregularitiesLoop · Aha Moment1 hit
16
The slide uses a combination of narrative accusation and comparative data visualization to build a case for financial manipulation.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Allegations of accounting irregularitiesLoop · Aha Moment1 hit
18
The slide highlights a specific accounting anomaly where 'Finished Goods' are absent from inventory, suggesting potential manipulation.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Allegations of accounting irregularitiesLoop · Aha Moment1 hit
23
The slide outlines five methods to normalize inventory levels and compares them against current reported figures to highlight potential accounting discrepancies.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Allegations of accounting irregularities1 hit
24
オリンパスや東芝の過去の不正会計事例と比較し、被害の深刻さを強調している。Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Allegations of accounting irregularities1 hit
41
The text argues that the TAM is small and growth is constrained by the limited number of customers and their specific adoption patterns.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Technical issues with Lasertec's products1 hit
45
The slide uses a table to contrast R&D spend and a LinkedIn screenshot to highlight Isteq's small employee count.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Technical issues with Lasertec's products1 hit
46
The slide uses a specific metric (Market Cap / 5-Year R&D) to argue that Lasertec's valuation is disconnected from its actual R&D investment, comparing it to other tech companies.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Technical issues with Lasertec's products1 hit
47
The slide uses a narrative of 'contradiction' to challenge the company's self-proclaimed business model.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Technical issues with Lasertec's products1 hit
49
The slide uses a direct visual comparison of financial charts to highlight a lack of transparency in Lasertec's reporting compared to industry peer ASML.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Technical issues with Lasertec's products1 hit
52
The slide uses two charts to contrast conflicting analyst reports, illustrating the uncertainty in Lasertec's revenue composition.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Technical issues with Lasertec's productsLoop · The Reveal1 hit
53
The slide argues that Lasertec's order book and revenue metrics are inconsistent and lack credibility compared to industry peers like ASML.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Technical issues with Lasertec's productsLoop · The Reveal1 hit
55
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。Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Beat · Technical issues with Lasertec's productsLoop · The Reveal1 hit
63
The slide uses historical financial data to illustrate how accounting manipulation (hiding losses via goodwill/investments) manifests in balance sheet ratios.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
64
キャッシュ変換率の低さを不正の兆候として指摘する論理構成。Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
65
The slide argues that revenue growth is being driven by the drawdown of deferred revenue rather than new business, supported by a line chart and a data table.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
66
会計不正のメカニズム（棚卸資産の過大計上と売上原価の過少計上）を説明し、それを裏付けるための時系列チャートを提示。Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
67
The slide argues that the rapid growth in inventory is a red flag for potential accounting fraud, specifically referencing the relationship between income statements and balance sheets.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
69
The table compares 2019-2023 EBIT margins and LTM figures, showing Lasertec's margin growth from 28% to 41%.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
70
The table ranks companies by EBIT margin, with Lasertec at the top. Data sourced from S&P Capital IQ.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
71
Data presented in two tables: Gross Margin (粗利益率) and Net Margin (純利益率).Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
72
The slide highlights a discrepancy between reported high profit margins and low cash conversion, framing it as evidence of potential accounting irregularities.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
73
The slide argues that a ratio consistently below 1 indicates low-quality earnings, contrasting historical performance with recent declines.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
74
The slide uses two tables (one in JPY, one in USD) to demonstrate that dividend payouts are consuming a significant portion of free cash flow, forcing the company to borrow despite high reported profits.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
75
The slide uses financial ratios to challenge Lasertec's 'fab-lite' strategy claims.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
76
棚卸資産の急増がACTISの発売時期と重なることを指摘している。Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
77
The red boxes highlight the period starting in 2019, which the author links to the launch of the ACTIS extreme ultraviolet equipment.Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit
78
レーザーテックが両指標で突出していることを強調する比較表。Lasertec Corporation (6920) · Scorpion Capital
Activist deck Short seller Loop · The Reveal1 hit