Company Reports

Lasertec's June-quarter revenue of JPY 61 billion and operating margin of 44% fell 26% and 829 basis points year on year, respectively. Management guided revenue and operating margin of JPY 290 billion and 43% for the fiscal year ending June 2027. Shares closed 14% lower the day after earnings.

We expect rising precision needs in lithography, driven by increasing chip complexity, to be a material growth catalyst for Japanese wafer fabrication equipment firm Lasertec over the next five years and beyond.

We expect rising precision needs in lithography, driven by increasing chip complexity, to be a material growth catalyst for the firm over the next five years and beyond.

We expect rising precision needs in lithography, driven by increasing chip complexity, to be a material growth catalyst for the firm over the next five years and beyond.

We initiate coverage of Lasertec, a Japanese wafer fabrication equipment company that manufactures mask inspection tools to identify defects in photomasks used in lithography machines. Lasertec leads the mask inspection market with a 49% global market share as of 2025.