Nissan Chemical Corporation
Cite as: Japan IR Index, Nissan Chemical Corporation (4021), methodology GNT-BDS v1.1.1, reviewed 2026-10-01.
Findings and sources as of the review date shown. The company’s English disclosure may have changed since.
Where to start
Chosen from this company's lowest answers, easiest first. A quick fix uses material the company already has; a translation fix is usually met by translating a Japanese document (our note says whether this company has one). Questions that need a budget or a board decision are left out. Suggestions drawn from the research, separate from the scores.
G6 Shareholder vote results disclosed in English 2/5 Quick fix
Publish the vote counts from the Japanese extraordinary report in English.
O7 Named English IR contact published 3/5 Quick fix
Link a dedicated IR contact (form, address or e-mail) from the English IR section.
O5 Single page listing all English IR documents by date and type 4/5 Quick fix
Keep one English page that lists every IR document with its date and type.
S3 English equity-story or investment-highlights page 4/5 Translation
Put the investment case, with figures, on one English page or section.
English disclosure assessment
All 34 questions reviewed by the editor against the public documents; this is not an independent audit. 1 answer corrected after re-checks (research errors) on 23 Oct 2026. These are changes to our record, not to the company’s disclosure. Changes to this record →
Compared with peers
| Peer group | Median | This company |
|---|---|---|
| Same sector (Chemicals) | 82.8 | 2 of 18 |
| Same size band (¥500bn–2tn) | 84.2 | 5 of 43 |
Compared with the companies covered here, not the whole market. Sector is the TSE 33-sector classification; market cap is from the TSE English-disclosure survey, Aug 2026; it only sets the size band, plays no part in the score, and is refreshed once a quarter. Ties share the higher rank.
Out of 100.
Of the 34 questions reviewed, 32 scored 3 or more and 0 found no qualifying English materials within the stated review scope. Read each score with its source and scope below.
Findings by question
F1Quarterly and full-year results summaries (tanshin) published in English5/5
Consolidated Financial Results for the three months ended 30 June 2026, in English, 7 August 2026, with an English archive of financial reports behind it. Source document →
F2English results summary is a full translation, not an excerpt5/5
Full translation. 'Consolidated Financial Results for the Three Months Ended June 30, 2026 (JPGAAP)' (7 Aug 2026) is 14 pages, the same as the Japanese 決算短信 (14 pages). Its table of contents matches section for section: qualitative information (business performance with segment commentary, financial position, outlook, distribution policy), balance sheet, income and comprehensive income, cash flows, and notes (going concern, equity changes, accounting policies, segment information, subsequent events). The FY2025 English tanshin (15 May 2026) is 24 pages against the Japanese 24 and carries the same sections, including the segment note with segment definitions. The whole tanshin: 5. Source document →
F3Financial statements including notes available in English5/5
The latest-quarter English tanshin (Q1 FY2026, 7 Aug 2026) carries the full statements (balance sheet, income, comprehensive income, cash flows) and notes, including the segment note and a subsequent-events note. The year-end tanshin adds changes in net assets and the full notes. The new 35-page Integrated Report 2026 Financial Section also gives audited statements, notes and the independent auditors' report for the year ended March 2026. Full statements and notes for the latest period: 5. Source document →
F4Annual securities report available in English in any form3/5
The English Integrated Report archive (IR > Archive > Integrated Report) lists 'Integrated Report 2026 Financial Section (Independent Auditors' Report)' (2.6MB; PDF created 29 Sep 2026), with the same item back to 2020. It is 35 pages, ~96,000 characters, for the year ended 31 March 2026: an eleven-year trend table, a two-page Financial Review and segment overview, the consolidated balance sheets, statements of income and comprehensive income, cash flows and changes in net assets, nineteen notes (accounting policies, financial instruments, retirement benefits, taxes, revenue, segment information, subsequent events), and on pp.34-35 a scanned Independent Auditors' Report from Yaesu Audit & Co. dated 30 September 2026 (its opinion paragraph refers to 'March 31, 2025', apparently an uncorrected date, while the convenience-translation paragraph names the year ended March 2026). None of the securities report's narrative parts are in it - business overview, risk factors, facilities, status of shares and shareholdings, officers, governance - and the company files no English securities report under any name. Re-checked 17 Oct 2026: the earlier not_found missed this document. Audited consolidated statements with the opinion but without the rest of the statutory report are 'financial statements or extracts only', so 3 (the 4 route for a separately titled audited financial report needs the rest of the report's content in English, which the integrated report does not reproduce; floor taken). Source document →
F5Segment revenue and profit disclosed in English, consistent definitions5/5
Six segments: Chemicals, Performance Materials, Agricultural Chemicals, Healthcare, Trading and Others. The English segment note gives external sales, intersegment sales, total sales and segment operating income every quarter (Q1 FY2026: Performance Materials sales 32,597m, OP 10,688m; Agricultural Chemicals 26,598m / 8,841m). The FY tanshin states each segment's main products and the measurement basis. Each deck gives segment and sub-segment detail, and the MTP footnotes the FY2025 change in cost allocation to 'Others'. The English xlsx carries segment sales, OP, margin and assets from FY2011. Every period, definitions stated: 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English5/5
Two English Excel files are linked from the IR site. 'Financial Data since FY2010' (Financial Highlights page; irpocket.com/4021/chart/data_en_r202108.xlsx) has an annual sheet for FY2011-FY2025: sales, OP, ordinary and net income, margin, EBITDA, ROE, total and net assets, equity ratio, debt, cash, operating/investing/financing cash flows, dividends, payout and total payout, buybacks, DPS and EPS, plus segment sales, OP, margin and assets. A quarterly sheet runs to 1Q FY2026. 'Financial Data Download (Excel)' (Nissan_kagaku_E.xlsx, on the statement pages) gives the balance sheet, income statement (with the FY2026 outlook) and cash flows for FY2021-FY2025. Fifteen years of P&L, BS, CF and per-share data with segments: 5. Source document →
F7Guidance disclosed in English with the basis explained5/5
The English FY2025 tanshin 'Future Outlook' gives the FY2026 forecast: sales 289.7bn, OP 66.8bn, ordinary 68.8bn, net 51.5bn, EPS 387.11 yen. It includes a segment sales and OP forecast table and states the 150 yen/US$ assumption plus a Middle East and supply-chain view. The Q1 tanshin confirms no change. Decks repeat the assumed rate (¥150/$) and give segment and sub-segment outlooks. The 1Q English script walks through actual versus outlook. The last revision, 'Revision of Financial Results Outlook and Dividend Outlook' (10 Nov 2025), was published in English the same day. Forecast, assumptions, segments and revisions explained: 5. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English Q1 results for the year ending March 2027 published 7 August 2026, the same period as the Japanese filing. Source document →
S1Medium-term management plan in English with numerical targets5/5
'Medium-Term Business Plan Vista2027 Stage II' (15 May 2025) is in English at 29 pages against the Japanese 29, page for page (both PDFs created 16 May 2025). There is also an English press release and the full English script with Q&A. FY2027 targets: sales 293.0bn, OP 65.0bn, ordinary 65.5bn, net 48.0bn, EBITDA 83.4bn, EPS 366.28, OP margin 20%+, ROE 18%+, payout 55%+, total payout 75%+, FX 140. It also gives segment sales and OP for Performance Materials and Agrochemicals, and capex, depreciation, R&D and researchers by segment for FY2025-27. Complete and current: 5. Source document →
S2IR presentations published in English5/5
Presentation Materials published in English the same day as the results, 7 August 2026, with a separate English page of presentation materials for IR meetings. Source document →
S3English equity-story or investment-highlights page4/5
The English IR section has a dedicated 'Overview' framed for investors ('What is our strong point? ... a closer look at Nissan Chemical from the following six key areas'). Its sub-pages cover Financial Data (robust financial base, high and stable profitability, equity ratio and Net D/E charts), R&D ('some 40% of our professional staff' in R&D, core technologies), Products, Medium- to Long-term Planning and Dividend. The FAQ has 'What are Nissan Chemical's strengths?'. Integrated Report 2026 adds 'Three Key Questions' and 'Business Model and Competitive Advantage'. It is dedicated and specific, but the framing is mostly qualitative and there is no quantified investment-highlights summary: 4. Source document →
S4Growth drivers identified and quantified in English5/5
Drivers are named and quantified in English. In the MTP, Performance Materials sales rise from 100.1bn (FY2024) to 122.4bn (FY2027) and Agrochemicals from 86.2bn to 97.5bn, with OP for each. FY2025-27 capex is 79.6bn, 57% of it to Performance Materials (semiconductor-materials plant 14.8bn, semis R&D equipment 8.4bn). R&D is 71.6bn and researchers rise from 475 to 510. Named products and pipelines include ARC, OptiStack, EUV and 3D-packaging materials, Fluralaner and new pesticides. The FY2025 deck and script set semiconductor-materials growth against the market, including a 26% CAGR upside case. Named drivers with numbers attached: 5. Source document →
S5Results-briefing transcripts or Q&A published in English5/5
Every results briefing has an English 'Presentation Materials (Script Including Q&A)': the full presenter script plus questioner-by-questioner Q&A (FY2025: 31 pages, Q&A from p28; 1Q FY2026: 30 pages, 'Question & Answer' p26). These run every quarter back to FY2020 and match the Japanese 質疑含むスクリプト付 (33 and 31 pages). The 1Q files were created the same day in both languages (18 Aug 2026). The MTP briefing and the business briefings (Agrochemicals Jan 2026, R&D Jun 2025) also have English Q&A. Every briefing, full transcript: 5. Source document →
S6Integrated or annual report available in English5/5
Integrated Report 2026 in English, "Issued: October 2026", covering the year ended 31 March 2026, published 1 October 2026 - the current edition. 5 (was 4 on 12 Oct, when only the 2025 edition was on the page). Source document →
S7Progress against the previous plan, including misses, explained in English4/5
The Stage II deck opens with 'Vista2027 Stage I (FY2022-24) Summary'. It sets FY2024 actuals against the May 2022 targets: sales 251.4 vs 255.0bn, OP 56.8 vs 58.5, ordinary 58.0 vs 59.5, net 43.0 vs 44.0. OP margin, ROE, payout and total payout are marked 'Achieved' against their 20%/18%/55%/75% targets. The IR planning page repeats this: 'although both sales and income were below [the plan], all financial indicators achieved the target'. The variances are stated but not explained; the script only narrates record profits and segment drivers. A reconciliation without the explanation: 4. Source document →
G1Corporate governance report available in English5/5
The Corporate Governance Report in English, last updated 25 June 2026, alongside the Notification of Independent Officers. Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English notice of the 156th AGM (28 May 2026) covers all ten directors, since all stand annually. It gives full dated career histories (tenure readable from them), board attendance, shareholdings, positions, Nomination and Remuneration Committee roles, and the reason for each nomination. The four outside directors are marked 'Outside Director / Independent Officer', with their aggregate terms stated (Kataoka 6 years, Nakagawa 5, etc.) and the independence standards set out. Every director, all three elements: 5. Source document →
G3Board skills matrix published in English5/5
'(Reference) Skills matrix for the Company's Board of Directors' (English AGM notice, May 2026, p23) maps all ten directors post-meeting against six skills: corporate management, R&D/technologies, finance and accounting, legal/risk/internal control, personnel, and global experience. It also explains the skill requirements. It is repeated in Integrated Report 2026. Current matrix in English: 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English5/5
The English materials give structure, KPIs, weights and amounts. Pay is base, performance-related and performance-linked stock, about 50:30:20 at target, with outside directors on base only. The performance-related KPIs are profitability (net income, EBITDA) at 90% and ESG (third-party ratings, GHG reduction) at 10% (Integrated Report 2026). The stock-plan KPIs are ROE 50%, 3-year TSR vs JPX-Nikkei 400 TR 25%, and TSR rank among chemical peers 25%. Malus and clawback apply (AGM notice Proposal 4 and the policy text). Amounts: the English CG report (updated 25 Jun 2026) gives 491m yen for 12 directors in FY2025 and the chairman's and president's pay split by component (100m each). Structure, KPIs, weights and amounts: 5. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the Convocation of the 156th Ordinary General Meeting of Shareholders, listed on the English IR news on 28 May 2026 (start of electronic provision 28 May; issuance 3 June) for a meeting on Thursday 25 June 2026 - 28 days ahead. 29 pages, ~74,000 characters, ending with the reference documents: it does not contain the business report or financial statements (those are only listed as matters to be reported and, in part, as items provided on the website). The Reference Documents cover all four proposals in full - No.1 appropriation of surplus (¥132 year-end, ¥202 annual), No.2 ten directors and No.3 two Audit & Supervisory Board members with candidate profiles, reasons for nomination, independence standards and a skills matrix, No.4 amendments to the performance-linked stock compensation plan with reasons and plan details. Voting is explained in English: by post or via the Internet using the website on the voting form, both by 5:40 p.m. 24 June 2026 (JST), plus the ICJ platform for institutions; only the materials-posting websites are marked '(in Japanese)', alongside English equivalents. Re-checked 17 Oct 2026: corrects the earlier reason's '96,000 characters including the business report and financial statements' - the notice is 29 pp / ~74k characters without them; the score is unchanged. Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the Japanese notice names the voting website, www.web54.net (Sumitomo Mitsui Trust Bank), which is in Japanese only, with no English option, as for ESPEC (6859) and Nitto Boseki (3110). Every proposal in English, but a Japanese-only voting route, so 4. Source document →
G6Shareholder vote results disclosed in English2/5
A Notice of Resolutions is published in English the day of the meeting, naming every proposal and every director elected - but each proposal reads 'approved and resolved as originally proposed'. No vote counts, no approval ratios. Source document →
G7Cross-shareholdings in English with reduction schedule and rationale3/5
Policy and holding rationale: the English CG report (Principle 1.4) and governance page say the board reviews each holding every year against business necessity and cost of capital, and sells where no rationale is confirmed. Numbers: the FY2025 English deck (p14) gives non-consolidated listed holdings of 22.0bn yen in 24 issues (15.6bn and 24 issues a year earlier; 30.0bn and 55 issues in March 2018), unlisted 2.5bn, and strategic shareholdings at 8.6% of net assets against 17.0% in 2018. There is no stated reduction target or schedule in English; none was found in the MTP, the integrated report or the CG report. Policy and numbers, no target: 3. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
The English homepage (nissanchem.co.jp/eng/) has a visible 'Investor Relations - Information to help investors gain a deeper insight into who we are' banner linking straight to /eng/ir_info/. The global-nav 'Investor Relations' dropdown also lists the IR top and every sub-page. One click: 5. Source document →
O2English document links resolve to English documents5/5
Opened 21 English links: tanshin 1Q FY2026, FY2025 and 1Q FY2019; decks 1Q FY2026 and FY2025; scripts with Q&A for 1Q FY2026, FY2025, FY2024/MTP and 3Q FY2021; MTP deck and press release (May 2025); AGM notices 2026 and 2016; CG report; Integrated Reports 2026, 2019 and 2015; IR 2026 Financial Section; news releases of 4 Aug 2026, 7 Aug 2026 and 30 Aug 2019; and both Excel files. All were English (cjk character counts 0-15). All English: 5. Source document →
O3English IR archive free of dead links5/5
All 21 sampled links (listed under O2, spanning 2015-2026 across tanshin, decks, scripts, MTP, AGM notices, CG report, integrated reports, news and xlsx) opened and rendered. There were no dead links. All live: 5. Source document →
O4English IR pages render without blank JavaScript failures5/5
Rendered the IR top (news, IR calendar, quick links), Chart (live price, candlestick and volume), Financial Highlights (interactive charts FY2015-2025), the three statement pages, the Financial Reports archive, Integrated Report, AGM, MTP, IR-meeting materials, IR Calendar, General Information, Shareholder Composition, Shareholders Return, Analyst Coverage, FAQ and Disclaimer. All render their content. The only blemish is a breadcrumb reading 'IR Calendar' on the finance pages. Every page renders: 5. Source document →
O5Single page listing all English IR documents by date and type4/5
The English NEWS list is a single dated, chronological list with an 'IR' filter. It carries tanshin, decks, AGM notices and resolutions, the integrated report, business briefings and every timely disclosure, but it is paged by year and does not type items beyond their titles. The scripts with Q&A, the IR financial section, the CG report and MTP scripts sit only on the separate archive pages. 'Financial Reports & Presentation Materials' is dated and typed (summary / presentation / script) by fiscal year; Integrated Report, General Meeting (by meeting number, undated) and Business Plan are separate pages. One dated list, not every type and not typed: 4. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
Tanshin and decks run every quarter from FY2013 (scripts with Q&A from FY2020, Q&A summaries 2018-2019). Integrated or annual reports go back to 2015, with financial sections from 2020. AGM notices start at the 145th (2015) and resolutions at the 152nd. MTP materials date from 2016, IR-meeting decks from 2020 and the IR calendar from FY2011. Several years across types: 5. Source document →
O7Named English IR contact published3/5
The English IR top (https://www.nissanchem.co.jp/eng/ir_info/) shows an 'IR Information Enquiries' link in its bottom link block and in the IR menu, so the route is easy to find. But it lands on the shared corporate 'Contact Us' form (secure.nissanchem.co.jp/eng/contact/form.cgi), the same form the global Contact Us page uses for every division via the jigyoubu_flg parameter (product divisions, recruitment =14, general =16), with 'Corporate Division for Enquiry: Sustainability & IR Enquiries' (=15) preset - a combined sustainability-and-IR desk, not an IR-specific page, address or form. No IR email address or phone appears on the site. The results summary names NOMURA Hiroshi, Head of Finance and Accounting Department, +81 3 4463 8401. Re-checked 17 Oct 2026: the earlier reason called it a dedicated IR form separate from the general contact route; it is the general form with the IR category preselected. Obvious but not dedicated: a shared corporate form with IR preselected is 3 under the rulings. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
Japanese and English news lists, posting dates. 1Q FY2026: tanshin and deck 7 Aug 2026 in both languages; the English tanshin PDF was created 5 Aug, as was the Japanese. FY2025: both 15 May 2026. 3Q FY2025: both 9 Feb 2026. 2Q FY2025: both 10 Nov 2025. The scripts with Q&A follow later in both languages together (1Q PDFs created 18 Aug in each). Tanshin and deck same day, every period: 5. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Q1 tanshin: JA 7 Aug / EN 7 Aug = 0. FY tanshin: JA 15 May / EN 15 May = 0; the 16 Jun correction also appeared in both the same day. AGM notice: JA 28 May / EN 28 May = 0. Corporate Governance Report: both versions read 'last update June 25, 2026' = 0, though this comes from the version date, not a posting date. Annual securities report: filed 24 Jun 2026, no English version, counted >90. Lags 0, 0, 0, 0, >90; median 0: 5. Source document →
R3Timely disclosures published in English5/5
Compared the Japanese and English news lists from 14 Oct 2025 to 14 Oct 2026. Each Japanese timely disclosure had an English counterpart dated the same day, about 20 items: - forecast and dividend revision (10 Nov 2025) - treasury-share cancellations (29 Oct 2025, 26 Feb 2026) - buyback decision (15 May 2026), status reports (6 Jan, 3 Feb, 2 Jun, 2 Jul, 4 Aug 2026) and completion (4 Feb) - dividend resolution (15 May) - officer changes (26 Feb) - stock-compensation amendments (28 Apr) and treasury-share disposal (7 Aug) - tanshin correction (16 Jun) - investment-unit policy (25 Jun) - system-intrusion notices (16 Jul, 5 Aug) - subsidiary establishment (7 Oct) and specified-subsidiary change (9 Oct) TDnet itself was not read, so any filing posted to TDnet but not to the company news list would be missed. All, same day: 5. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
There is no machine-translation notice on the rendered English IR top, NEWS list, Disclaimer and Notes page or privacy policy, nor in the sampled documents. The IR disclaimer covers solicitation, accuracy in general and unsponsored ADRs. Timely disclosures carry human-translation precedence language ('translated from the Japanese original for reference purposes only ... the original shall prevail'), which belongs to R5. Nothing presented as machine-translated: 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
Mixed, which is better than most. The convocation notice carries the full subordination clause - 'the original shall prevail', responsibility disclaimed - but the results summary and the notice of resolutions carry no prevailing-language statement at all. Source document →
Open a question for the reasoning and the document its score was read from. A zero means no qualifying English materials were located within the stated review scope as of 2026-10-01. Compare this question across companies →
Capital-policy review
Not scored. 1 action has been reviewed; a score out of 100 is published once 3 or more are. The ratings:
Each action is read against the company’s own filings on four checks: was the promise specific, can the steps be traced, were the economics explained, and did it report back against the target. This records the status of selected actions, not an assessment of the company as a whole. How this is scored →
Vista2027 Stage II capital allocation
Strategy or target reset · In progress · Action announced 15 May 2025
Nissan Chemical launched a quantified three-year plan; 1Q FY2026 subsequently showed sales and income above prior-year and internal outlook, led in part by semiconductor materials.
Timeline and sources (2 steps)
- 15 May 2025Stage II announced The company set FY2027 earnings, return, capex, R&D and payout targets. Medium-Term Business Plan Vista2027 Stage II
- 30 June 2026 · announced 7 August 2026First-quarter progress reported Performance Materials sales increased significantly, mainly from semiconductor materials, and consolidated results exceeded prior-year and outlook. For Investors: 1Q FY2026 Results
What management said it would do
Nissan Chemical set FY2027 operating profit of ¥65bn, ROE of 18.5%, ¥79.6bn capex and at least 75% total payout.
From the company’s own disclosure · Medium-Term Business Plan Vista2027 Stage II
What it actually did, and when
1Q FY2026 results exceeded the prior year and internal outlook, with strong semiconductor-material sales.
Partly disclosed — a gap remains · For Investors: 1Q FY2026 Results
What it disclosed about the economics
The plan focuses investment on semiconductor materials and agrochemicals and uses Go/Stop development gates.
Partly disclosed — a gap remains · Medium-Term Business Plan Vista2027 Stage II
What has happened since
The final FY2027 result is not due.
Partly disclosed — a gap remains · Medium-Term Business Plan Vista2027 Stage II
The question this leaves open
Investor question: How is semiconductor spend converting into qualified products, sales and ROIC? IR preparation: publish a project-cohort capital and returns bridge.
Our analysis, not a company statement
Balance sheet and capital-policy indicators
A source-backed first-pass capital-efficiency, balance-sheet and governance reading, separate from the accountability score.
Cash use and returns
Vista2027 Stage II allocates ¥79.6bn to capex and ¥71.6bn to R&D while maintaining a total payout target of at least 75%.
Capital structure
The plan targets a 0.05 net D/E ratio and a 71.9% equity ratio in FY2027 before future strategic investments.
Governance of capital decisions
The plan applies Go/Stop development gates and concentrates capital in Performance Materials and Agrochemicals.
Preliminary and not scored: a selected-source reading, reviewed 24 September 2026. Surplus cash, leases, maturities, project ROIC, cost of capital, committed spend and peer comparability are not fully assessed; none enters the accountability score. Figures are the company’s own reported numbers; a large cash balance is not called excess without a defensible operating reserve and investment plan. Every company with a balance-sheet reading →
Changes to this record
- Research error 23 October 2026 · G5: 5 → 4. Every proposal is in the English notice, but the voting website shareholders use (Sumitomo Mitsui Trust Bank) is in Japanese only.
Every change is labelled as a research error, new evidence supplied, improved disclosure or a rule change, with its date and the previous score. Change log →
Scores assess how English information is published, not the quality of the business or its investment value. To report an error or a document we missed, see how to contact us.