Kanto Denka Kogyo Co., Ltd.
Cite as: Japan IR Index, Kanto Denka Kogyo Co., Ltd. (4047), 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.
F6 Multi-year financial data file (Excel or CSV) downloadable in English 0/5 Quick fix
Post the financial figures the company already publishes as an Excel or CSV file with English labels.
G6 Shareholder vote results disclosed in English 0/5 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.
S5 Results-briefing transcripts or Q&A published in English 0/5 Translation
Publish the results-briefing Q&A summary in English, on the same day as the Japanese.
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 | 14 of 18 |
| Same size band (¥100–500bn) | 77.1 | 26 of 50 |
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, 28 scored 3 or more and 5 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, 10 August 2026, with every quarter back to FYE3/2022 in the same list. Source document →
F2English results summary is a full translation, not an excerpt5/5
English 'Consolidated Financial Results for the Three Months Ended June 30, 2026 [JGAAP]' (10 Aug 2026) runs 11 pages against the Japanese 11, with the same table of contents: operating results with a segment-by-segment review, financial position, earnings forecasts, balance sheet, income and comprehensive income statements, and notes (special accounting, segment information, equity, going concern, cash flows). The full-year English tanshin (15 May 2026) runs 23 pages against the Japanese 21 and carries every section: outlook, dividend policy, the accounting-standard choice, all four statements, the notes including the basis of preparation, segment information with segment definitions, per-share data and subsequent events. A whole translation: 5. Source document →
F3Financial statements including notes available in English5/5
The latest period (Q1 FY3/2027) English tanshin has the balance sheet, income statement and comprehensive income statement with the notes the Japanese carries at Q1, including the segment note with profit. The Japanese Q1 has no cash-flow statement either. The FY3/2026 English tanshin adds the statements of changes in equity and cash flows and the full notes. The audited statements with notes and both auditor's reports are also in the English AGM notice. Full statements and notes for the latest period: 5. Source document →
F4Annual securities report available in English in any form0/5
The English IR library has four sections and only four - results summary, results presentation, shareholder meeting materials, integrated report. No securities report in any year from FYE3/2016 onward, and the company reports none to TSE.
F5Segment revenue and profit disclosed in English, consistent definitions5/5
Five reportable segments: Fundamental Chemicals, Fine Chemicals, Ferrochemicals, Commercial Business and Facilities. The English tanshin segment note gives external sales, inter-segment sales and segment profit every quarter (Q1 FY3/2027 segment profit 71 / 3,752 / 104 / 39 / -15). Each tanshin's qualitative section narrates sales and operating profit by division. At the year end it adds segment assets and an 'Overview of reportable segments' that defines each division and the measurement basis (operating profit; inter-segment at market prices). The decks give Fundamental, Fine and Other with specialty gases broken out for reference. Stated definitions, every period: 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
Ran a link search for xls/xlsx/csv/excel/data on the English IR top, Financial Highlights (Business Results, Financial Position, Cash flow situation), IR Library (all four tabs), Stock Information, FAQ and Sustainability pages, and on the Japanese financial page: no spreadsheet. What is there instead: five-year HTML charts with value tables (FY3/2022-FY3/2026 sales, profits, EPS, ROE, margins, assets, cash flows) and a 'Latest materials / Download all' ZIP of the current PDFs. Integrated-report data pages are PDF only. No downloadable data file.
F7Guidance disclosed in English with the basis explained5/5
FY3/2027 forecast in the English tanshin (sales 95.0bn, OP 10.0bn, ordinary 10.0bn) with the reasons: fine-chemicals volume growth and price adjustments. The English FY briefing deck (25 May 2026) gives the forecast with an FX assumption (USD 155 vs 151), the demand view (semiconductor demand for specialty gases, raw-material pass-through, US demand for non-China battery materials, Middle East impact factored in), segment forecasts for net sales and operating profit, H1/H2 splits, capex, depreciation, R&D and an OP bridge. The 10 Aug 2026 English 'Notice Concerning Revisions to Financial Results Forecasts' revises OP to 11.3bn and explains it: specialty-gas price revisions, with the rest of the year under review for raw-material and fuel costs. Full basis 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 10 August 2026, the same period as the Japanese filing. Source document →
S1Medium-term management plan in English with numerical targets5/5
The 12th Medium-Term Management Plan 'Dominate 1000' (2022, revised Nov 2023 and extended two years to FY2026, i.e. the year ending March 2027, so it is still current). The English Medium-Term Management Plan page states the strategies, the 2023 revision measures and the FY2026 numerical targets (net sales 100.0bn, OP 15.0bn, ROE 12% or more, ROIC 8% or more, five-year investment 64.0bn), the same as the Japanese page. It links the English plan presentation (48 pp., within the FY3/2022 briefing) and revision presentation (60 pp., within the H1 FY3/2024 briefing: 'Revision of Numerical Targets', five-year targets, cash allocation, payout raised to 30%, ROIC tree, cross-shareholdings, CO2 targets). That covers the Japanese standalone decks (20 and 29 pp.). Complete and current: 5. Source document →
S2IR presentations published in English4/5
Business Results decks in English for every period, current - but the Japanese side also gets the full results briefing with the presenter's script and the Q&A (decking at 3.2MB on 8 June 2026), and the English page has no counterpart. The English deck itself is 8 pages where peers in this batch run 18 to 60. Deck yes, briefing no. Source document →
S3English equity-story or investment-highlights page4/5
'KDK at a Glance' (linked from the English homepage and the IR top as 'About Us: KDK at a Glance - simple guide in keywords and numbers') is a dedicated page. 'KDK by Keywords' sets out the strengths: high share in niche markets, world-leading fluorine-gas capacity, in-house integration from fluorine refining to specialty gases, top-level global shares, 80-year customer trust. 'KDK by Numbers' gives KPIs as at March 2025. The strengths themselves are not quantified (no shares, rankings or capacities), the numbers are a year old, and the segment-sales and capex figures are mislabelled ('Fine chemicals 494 Million yen', evidently 100-million-yen units). No 'why invest' section on the IR pages. Dedicated but mostly qualitative: 4. Source document →
S4Growth drivers identified and quantified in English5/5
The English FY3/2026 briefing deck (25 May 2026) quantifies its drivers. Semiconductor etching and cleaning gas market JPY 230bn (2024) to 360bn (2030), KDK CAGR 11.0% vs market 7.2%, target share at least 25% by 2030. LiPF6 for US and Japan: 50,000 t market in 2030, CAGR over 25%, target share 50%. Capacity steps: C4F6 400 to 600 t/y, LiPF6 5,400 to 8,000 t/y, recycling plant equivalent to 5,000 t/y of LIB cells. Xuancheng (China) sales of about 4bn vs 0.4bn. Segment forecast shows Fine Chemicals carrying +29.2bn of the +29.6bn sales growth. Named drivers with numbers: 5. Source document →
S5Results-briefing transcripts or Q&A published in English0/5
The English Financial Results Presentation library (FYE3/2022-FYE3/2027) and IR News carry decks only: no transcript, script or Q&A in any year. The Japanese side publishes one for every briefing: '決算説明会 プレゼンテーション（スクリプト ＱＡあり）' for FY3/2026 (8 Jun 2026), H1 FY3/2026 (28 Nov 2025) and FY3/2025 (28 May 2025), plus video streams. English reader gets none of it.
S6Integrated or annual report available in English4/5
INTEGRATED REPORT 2025 in English, published 14 May 2026 - but its own editorial policy says it covers 1 April 2024 to 31 March 2025. No edition for the year ended March 2026 as at 1 October 2026, so the English reader is one edition behind. Source document →
S7Progress against the previous plan, including misses, explained in English4/5
The English plan presentation (FY3/2022 briefing) sets the previous plan, the 11th MTP, against results: FY2021 plan vs results for net sales (70.0 vs 62.2bn), OP (12.0 vs 11.1), equity ratio, ROE (15% vs 14.2%) and payout (20% vs 19%), with differences. The key strategies are marked achieved or challenge. The reasons for the sales and profit shortfalls are not explained. The current plan's progress is reconciled with explanations: revision deck 'Progress on the 12th MTP (Numerical Targets)', and the FY3/2026 deck slide 'Differences from the Medium-term Management Plan' (FY2024 62.3 vs 78.0, FY2025 64.5 vs 93.0 with the fire impact, FY2026 95.0 vs 100.0; gases ahead, battery materials short). Reconciliation present, but the previous plan's variances are not explained: 4 (floor). Source document →
G1Corporate governance report available in English0/5
The English governance section is narrative - basic stance, risk management, anti-corruption, tax, information security, compliance - and carries no documents at all. No corporate governance report in English, and the company reports none to TSE.
G2Director biographies in English with tenure, expertise and independence5/5
English 'Notice of the 119th Ordinary General Meeting' (3 Jun 2026), Proposal 2, Election of Nine Directors, covers the whole board, since all nine terms expire. Each candidate has a dated career history (board tenure readable from the dates, e.g. Hasegawa director since June 2009, President since 2015), shareholdings, and reasons for nomination or expected roles. The five outside directors are each stated to be independent officers under TSE rules, with their tenure (11, 7, 4, 2 and 2 years) and an independence note on the law-firm retainer. The business report adds board attendance (14 of 14 etc.) and activity. Every director, all three elements: 5. Source document →
G3Board skills matrix published in English5/5
'[Reference] Director candidate expertise and experience (skill matrix)' in the English June 2026 AGM notice: all nine directors (planned positions, independent/outside marked) against eight areas: management strategy, globalization, sales/marketing, technology/R&D, sustainability, finance/accounting, finance and capital markets, legal/risk. Current matrix in English: 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English5/5
English June 2026 AGM notice, 'Matters Related to Remuneration of Corporate Officers'. Structure: monthly fixed, officer bonus and stock-issuance-trust stock remuneration; outside directors fixed only. KPI and formula: bonus = consolidated ordinary profit x 0.350% / 0.225% / 0.175% / 0.018% by position, with caps, none if ordinary profit is under 2bn or there is a loss, and a TSR-vs-TOPIX modifier of x1.1 / x0.9 (FY TSR 154.29% vs TOPIX 134.65%). Mix: fixed about 55-65%, bonus 25-35%, stock about 10%. Amounts: directors 188m (fixed 135, performance-linked 40, non-monetary 11), A&SB 54m. Nomination & Compensation Committee chaired by an independent director. Structure, KPIs, weights and amounts: 5. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Electronic provision from 3 June 2026 for a meeting on 26 June - 23 days, voting open to 25 June. The most complete notice in the batch at 166,000 characters: reference documents, three proposals, candidate profiles, business report and audited financial statements, with nothing marked Japanese-only. Its omission notes refer to the paper copy, not to the translation. Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the company's shareholder pages name Sumitomo Mitsui Trust Bank as share registrar, whose voting websites (www.web54.net and www.soukai-portal.net) are 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 English0/5
Shareholder Meeting Materials carries one document per year from FYE3/2016 to FYE3/2026, and every one is a convocation notice. No resolution notice and no voting results in English for any year.
G7Cross-shareholdings in English with reduction schedule and rationale5/5
English Integrated Report 2025 (posted 14 May 2026). Holdings at March 2023/2024/2025: 35/31/26 stocks, of which listed 23/19/14, balance-sheet amount 6.3/8.0/7.1bn, 9.3/12.3/10.7% of net assets. Policy: hold for stable long-term business relationships, with each holding tested against its purpose and benefits and risks reported regularly to the board. Schedule from the 2023 MTP revision: sell 20% by March 2025 and a further 10% by March 2027 (30% cumulative vs March 2023 market value). Progress: 13 stocks sold (incl. 4 partial) worth 1.26bn, the 20% target met, with a change analysis for share-price effects. The June 2026 cost-of-capital update shows cross-shareholding sales in its cash allocation. No English CG report or yuho, and the data are as at March 2025, but all elements are present: 5. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
'IR Information' sits in the global navigation of the English homepage (www.kantodenka.co.jp/english/), a visible link straight to /english/ir/: one click. The homepage footer also lists the IR sub-pages. Source document →
O2English document links resolve to English documents5/5
Sampled 20 English links, all English. Tanshin: FY3/2022 FY, Q3 FY3/2023, Q3 FY3/2024, Q1 FY3/2025, FY3/2026, Q1 FY3/2027, and the June 2025 tanshin correction. Decks: FY3/2022 incl. MTP, FY3/2024, H1 FY3/2026, Q1 FY3/2026 supplementary, FY3/2026, Q1 FY3/2027. MTP: plan and revision PDFs. AGM notices: 109th (2016), 113th (2020), 118th (2025), 119th (2026). Also Integrated Report 2025, the July 2026 derivative-lawsuit notice, the Aug 2026 forecast revision and the June 2026 cost-of-capital update. No Japanese document behind an English link. Source document →
O3English IR archive free of dead links5/5
All 20 sampled documents (listed under O2, 2016-2026 across tanshin, decks, MTP, AGM notices, integrated report and timely disclosures) opened and rendered in the browser; no dead links. Source document →
O4English IR pages render without blank JavaScript failures5/5
Rendered: IR top (news list, download-all and audio tiles), Message from the President, Medium-Term Management Plan, Financial Highlights (Business Results charts and tables, Financial Position, Cash flow), the four IR Library tabs with fiscal-year selectors (switching years repopulates the lists), IR News (type tabs, year select), IR Calendar, Stock Information, Information for Shareholders, FAQ, Disclaimer. All render their content; the stock price link goes out to Yahoo Finance. Nothing blank. Source document →
O5Single page listing all English IR documents by date and type5/5
The English IR News page is one dated list of every English IR document: tanshin, decks, AGM notices, integrated report, timely disclosures and notices. Each item is typed (Financial Results / Timely Disclosure / General Meeting of Shareholders / IR Materials / Notices, with filter tabs) and the year select runs 2016-2026. The IR Library also splits the same documents by type with fiscal-year selectors. One dated, typed page with filters: 5. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
English tanshin every quarter from FYE3/2023 plus the FYE3/2022 full year. Decks from FYE3/2022 (H1 and FY briefings, Q1/Q3 supplements since FY3/2026). AGM notices every year FYE3/2016 to FYE3/2026. Integrated Reports 2024 and 2025. IR News back to 2016. Several years across types: 5. Source document →
O7Named English IR contact published3/5
The English IR top (kantodenka.co.jp/english/ir/) and its IR menu (Management Information, Stock Information, IR Library, IR News, IR Calendar, Frequently Asked Questions, Disclaimer) have no IR contact item. The FAQ answers 'Who should we contact for IR-related inquiries?' with the Public Relations & Investor Relations Department and links to the site-wide Contact page (/english/contact/), the same form reached from the global header; it is one shared form whose 'Type of inquiry' list includes 'Inquiries from shareholders and investors' beside customer, whistle-blowing, R&D, SDS and other inquiries, and it says 'We can only address inquiries in English'. The results summary names Yoshihiro Uehara, General Manager, Public Relations & Investor Relations Dept., +81-3-4236-8804. Re-checked 17 Oct 2026 under the current bands, which no longer require a named person: unchanged, now on the route alone. A shared corporate form with an investor category, found via the FAQ or the global header rather than an IR contact item, is a genuine but not dedicated route: 3. The citation moves from the tanshin to the contact form. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
Posting dates, English vs Japanese lists. Q1 FY3/2027: tanshin 10 Aug / 10 Aug, deck 10 Aug / 10 Aug. FY3/2026: tanshin 15 May / 15 May, briefing deck 25 May / 25 May. Q3 FY3/2026: tanshin and deck 13 Feb / 13 Feb. H1 FY3/2026: tanshin 10 Nov / 10 Nov, deck 20 Nov / 20 Nov. PDF creation dates agree (EN Q1 tanshin 6 Aug, deck 7 Aug). Same day every period: 5. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Q1 FY3/2027 tanshin JA 10 Aug 2026 / EN 10 Aug = 0 days. FY3/2026 tanshin JA 15 May / EN 15 May = 0. AGM notice (119th) JA 3 Jun / EN 3 Jun = 0. Corporate Governance Report: JA updated 29 Jun 2026, no English, counted as over 90. Annual securities report: JA 25 Jun 2026, no English, counted as over 90. Median of (0, 0, 0, >90, >90) = 0 days: 5. Source document →
R3Timely disclosures published in English4/5
Japanese IR News 14 Oct 2025-14 Oct 2026: 14 適時開示 and 3 お知らせ. English, same day, for 13 of the 14: H1 forecast/actual difference and fire 6th report (10 Nov), fire 7th report (7 Jan), forecast revision (13 Feb), major-shareholder change (8 Apr), representative-director change (24 Apr), extraordinary loss, FY forecast/actual difference and dividend-forecast revision (15 May), dividend (27 May), cost-of-capital update (29 Jun), derivative lawsuit (28 Jul), forecast revision (10 Aug). Missing in English: the 28 Jul correction to the lawsuit notice, and the お知らせ on officer appointments (24 Apr 2026), executive-officer duty changes (15 May 2026) and head-office relocation (12 Dec 2025). Nearly all, same day: 4. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
Rendered the English IR Disclaimer and 'About This Site' pages and the English documents (tanshin, decks, AGM notice, timely disclosures): nothing presented as machine- or AI-translated. The documents carry only the human-translation 'original shall prevail' line, which belongs to R5. 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese1/5
On the results summary and the AGM notice alike: 'translated from the Japanese original for reference purposes only ... the original shall prevail', with responsibility disclaimed on the notice. 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 →
Semiconductor-gas capacity, portfolio and capital-efficiency plan
Strategy or target reset · In progress · Plan or update announced 22 November 2023
Kanto Denka revised its plan around semiconductor gases and battery materials and added ROIC, portfolio and shareholder-return measures.
Timeline and sources (1 step)
- 22 November 2023Plan or update announced Kanto Denka revised its plan around semiconductor gases and battery materials and added ROIC, portfolio and shareholder-return measures. Medium-Term Management Plan: Dominate 1000
What management said it would do
Management targets ¥100bn sales, ¥15bn operating profit, at least 12% ROE and at least 8% ROIC by FY2026.
From the company’s own disclosure · Medium-Term Management Plan: Dominate 1000
What it actually did, and when
The company is expanding semiconductor-gas and battery-material capacity; the complete return bridge remains pending.
Partly disclosed — a gap remains · Medium-Term Management Plan: Dominate 1000 · Revision of Medium-Term Management Plan
What it disclosed about the economics
The plan combines ¥64bn of investment with ROIC, cross-shareholding reduction and a payout floor.
Partly disclosed — a gap remains · Medium-Term Management Plan: Dominate 1000 · Revision of Medium-Term Management Plan
What has happened since
The FY2026 result is not due.
Partly disclosed — a gap remains · Medium-Term Management Plan: Dominate 1000
The question this leaves open
Investor question: Which capacity projects clear the 8% ROIC threshold? IR preparation: disclose utilization, pricing, spend and returns by major project.
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
Kanto Denka plans ¥64bn of five-year investment, concentrated in semiconductor gases and battery materials, alongside a payout ratio of at least 30%.
Capital structure
The revised plan uses operating cash, debt and asset reductions while seeking lower cross-shareholdings; explicit downside leverage ranges remain limited.
Governance of capital decisions
Management added ROIC, cross-shareholding reduction and stronger IR to the revised plan.
Preliminary and not scored: a selected-source reading, reviewed 30 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.