Lasertec Corp

6920: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Initiating Coverage on Lasertec With a JPY 51,000 Fair Value and Wide Moat; Shares Fairly Valued

Jing Jie Yu

Jul 7, 2026

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.

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Lasertec Corp

Initiating Coverage on Lasertec With a JPY 51,000 Fair Value and Wide Moat; Shares Fairly Valued

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