RISKS AND CONCENTRATIONS

12 Months Ended

Oct. 31, 2025

RISKS AND CONCENTRATIONS [Abstract]

RISKS AND CONCENTRATIONS

NOTE 19 - 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, 2025			October 31, 2024
Customer A		19.6	%		19.2	%
Customer B		7.0	%		14.6	%

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, 2025			October 31, 2024			October 31, 2023
Customer A		16	%		15	%		14	%
Customer B		13	%		12	%		10	%
Customer C		8	%		9	%		13	%

As of the balance sheet dates, the Company’s long-lived assets and net assets were, by geographic area, as presented below.

	October 31, 2025					October 31, 2024
	Long-lived Assets		Net Assets			Long-lived Assets		Net Assets
China		263,950	$	427,616		$	256,072	$	379,460
Europe and Other		9,709		(1,353	)		7,010		(420	)
United States		200,815		158,402			144,634		217,890
South Korea		139,501		348,996			123,631		315,597
Taiwan		240,461		663,646			213,910		568,232
		854,436	$	1,597,307		$	745,257	$	1,480,759