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RISKS AND CONCENTRATIONS | 12 Months Ended
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Oct. 31, 2024
RISKS AND CONCENTRATIONS [Abstract] |
RISKS AND CONCENTRATIONS | NOTE 18 - RISKS AND CONCENTRATIONS Financial instruments that potentially subject the Company to credit risk principally consist of trade accounts receivable and short-term cash investments. The Company sells the Company’s products primarily to semiconductor and FPD manufacturers in Asia, North America, and Europe. The Company believes that the concentration of credit risk in the Company’s trade receivables is substantially mitigated by the Company’s ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company establishes an allowance for credit losses based upon factors surrounding the credit risk of specific customers, historical trends, and other information. Our cash and cash equivalents are deposited in several financial institutions, including institutions located within all of the countries in which the Company manufactures photomasks. Portions of deposits in some of these institutions may exceed the amount of insurance available for such deposits at these institutions. As these deposits are generally redeemable upon demand and are held by high quality, reputable institutions, the Company considers them to bear minimal credit risk. The Company further mitigates credit risks related to the Company’s cash and cash equivalents by spreading such risk among a number of institutions. The following table presents the percentages of the Company’s net accounts receivable attributable to customers that accounted for more than ten percent of the total balance as of the balance sheet dates.
|  | October 31, 2024 |  |  | October 31, 2023 |
Customer A |  |  | 19.2 | % |  |  | 21 | %
Customer B |  |  | 14.6 | % |  |  | 10 | %
The following table presents the percentages of the Company’s revenue attributable to customers that accounted for more than ten percent of the total revenue during the reporting periods.
|  | Year Ended |
|  | October 31, 2024 |  |  | October 31, 2023 |  |  | October 31, 2022 |
Customer A |  |  | 15 | % |  |  | 14 | % |  |  | 15 | %
Customer B |  |  | 12 | % |  |  | 10 | % |  |  | 11 | %
Customer C |  |  | 9 | % |  |  | 13 | % |  |  | 5 | %
We operate as a single reporting segment as a manufacturer of photomasks, which are high precision quartz or glass plates containing microscopic images of electronic circuits for use in the fabrication of ICs and FPDs. As of the balance sheet dates, the Company’s long-lived assets and net assets were, by geographic area, as presented below.
|  | October 31, 2024 |  |  | October 31, 2023 |
|  | Long-lived Assets |  |  | Net Assets |  |  | Long-lived Assets |  |  | Net Assets |
China |  | $ | 256,072 |  |  | $ | 379,460 |  |  | $ | 249,357 |  |  | $ | 317,409 |
Europe and Other |  |  | 7,010 |  |  |  | (420 | ) |  |  | 7,294 |  |  |  | (2,175 | )
United States |  |  | 144,634 |  |  |  | 217,890 |  |  |  | 140,733 |  |  |  | 188,712 |
Korea |  |  | 123,631 |  |  |  | 315,597 |  |  |  | 119,438 |  |  |  | 281,941 |
Taiwan |  |  | 213,910 |  |  |  | 568,232 |  |  |  | 199,313 |  |  |  | 489,722 |
|  | $ | 745,257 |  |  | $ | 1,480,759 |  |  | $ | 716,135 |  |  | $ | 1,275,609 |

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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