Sumitomo Bakelite Co., Ltd.
Cite as: Japan IR Index, Sumitomo Bakelite Co., Ltd. (4203), 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.
O5 Single page listing all English IR documents by date and type 3/5 Quick fix
Keep one English page that lists every IR document with its date and type.
O7 Named English IR contact published 4/5 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 4/5 Translation
Publish the results-briefing Q&A summary in English, on the same day as the Japanese.
S6 Integrated or annual report available in English 4/5 Translation
Publish the current integrated or annual report in English.
English disclosure assessment
All 34 questions reviewed by the editor against the public documents; this is not an independent audit. 2 answers corrected after re-checks (research errors) between 21 Oct 2026 and 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 | 3 of 18 |
| Same size band (¥500bn–2tn) | 84.2 | 7 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 1 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
Summary of Consolidated Business Results for the three months ended 30 June 2026, in English, 3 August 2026 - 17 pages with the segment note and the cash flow statement. Source document →
F2English results summary is a full translation, not an excerpt5/5
Q1 FY2026 tanshin, 3 Aug 2026. The English version has 16 pp and the Japanese 17. The tables of contents match item for item: qualitative information (operating results, financial position, forecasts), the four condensed statements, and notes on going concern, accounting policies, presentation changes and segment information with the reconciliation. The one Japanese page the English lacks is the auditor's interim review report (pp16-17 of the Japanese), which the anchor does not count against it. The FY2025 tanshin (11 May 2026, 19 pp English against 18 Japanese) is also whole: summary, outlook, dividend policy, the statements and notes including segments, EPS and subsequent events. A full translation, so 5. Source document →
F3Financial statements including notes available in English5/5
The latest quarter's English tanshin (Q1 FY2026, 3 Aug 2026) has the full condensed statements: financial position, income and comprehensive income, changes in equity and cash flows. Its notes cover going concern, significant accounting policies (including the effective-tax-rate method), a change in cash-flow presentation with restated figures, and the segment note with reconciliation to profit before tax. The year-end tanshin adds EPS and subsequent-events notes. Full statements with notes for the latest period, so 5. Source document →
F4Annual securities report available in English in any form0/5
The English IR Library has four sections - business results, integrated reports, fact book, and financial results presentations. No securities report, and the company reports none to TSE.
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are three reportable segments: Semiconductor Materials, High-performance Plastics and Quality of Life Products, plus Others. Every English tanshin gives revenue (external and intersegment) and segment profit for each. Segment profit is defined as 'Business Profit', meaning revenue less cost of sales and SG&A, and each note reconciles it to profit before tax. The note states how segments are identified and lists the major products in each. The decks repeat segment revenue and business profit with forecasts. The Fact Book carries the same segment series from FY2011, so the definitions have been held constant (Circuit Products was folded in from FY2013). So 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English5/5
The English IR Library has a 'Fact Book FY2025' link to an Excel file (material2025-2.xlsx). It is the same bilingual English/Japanese workbook that the Japanese page links. Downloaded in the browser, it has seven sheets: Cover, Index, Financial Highlights, Statements of Income, two balance-sheet sheets (assets; liabilities and equity) and Statement of Cash Flow. The data runs FY2011 to FY2025, fifteen years to March 2026, on J-GAAP to FY2016 and IFRS from FY2017 (with dual IFRS years from FY2015). It includes segment revenue and business profit, ROE/ROA, debt, capex, depreciation, R&D, employees, BPS, EPS, PER, PBR, DPS and payout. More than five years of P&L, balance sheet, cash flow and per-share data, with segments, so 5. Source document →
F7Guidance disclosed in English with the basis explained5/5
The FY2025 tanshin (11 May 2026) gives the FY2026 forecast: revenue ¥337.0bn, business profit ¥38.0bn, operating profit ¥37.5bn, net profit ¥28.5bn, and DPS ¥120. Its 'Outlook for Fiscal Year 2026' section gives the market view (Middle East energy and supply-chain risk, final year of the MTP). The FY2025 deck (24 pp, page for page with the Japanese) adds the assumptions: an FX assumption of ¥155/USD against ¥150.97 actual, and revenue and business-profit forecasts by segment. Each segment's outlook is stated (AI-server demand, China and Kyocera synergies in Semiconductor; North American restructuring in HPP; and so on). Revisions are explained: the Q3 FY2025 tanshin (2 Feb 2026) gives the revised full-year figures, and the Q3 deck sets previous against latest forecast in total and by segment. The basis is thin on the reason ('recent performance trends'). Forecast, FX, segments, market view and revisions are all in English, so 5. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English Q1 results for the year ending March 2027 published 3 August 2026, the same period as the Japanese filing. Source document →
S1Medium-term management plan in English with numerical targets5/5
The current plan is 'Medium-Term Business Plan 2024-26' (dated 13 May 2024), 31 pp in English against 31 pp in Japanese. It has the Vision 2030 targets (business profit ¥55bn, margin 13%, ROE 10%) and yearly FY2024-26 targets for business profit, margin, revenue and ROE (FY2026: ¥40.0bn, 11.5%, ¥345bn, 9.0%). It also gives segment business-profit, margin and revenue targets for each year, a ¥150bn cash allocation, a ~40% payout target and non-financial targets (GHG -48% vs FY2021, 70% SDG-contributing sales). Progress is updated in each results deck. The PDF on the site (p_001-2) was created 26 Sep 2024, three months after the Japanese '-2' file (20 Jun 2024). The original posting dates cannot be recovered, and the plan is complete and current in English today. So 5. Source document →
S2IR presentations published in English5/5
Three documents for the latest quarter, all in English: Financial Results for 1st Quarter and Business Outlook, a short result summary, and a Q&A summary of the results briefing. The same set runs back through FY2025. Source document →
S3English equity-story or investment-highlights page5/5
There is no 'why invest' or investment-highlights page on the English IR site. The investor-facing material is in two places. First, the IR 'Business Overview by Segment' pages (e.g. Semiconductor Materials) each have a 'Business Characteristics/Strengths' list ('top share of the global semiconductor encapsulation materials market', 3+1 strategic mobility products, open labs) and an opportunities/risks box. These are mostly qualitative and written on FY2024. Second, the English Integrated Report 2025 has 'At a Glance' (about 40% share of global semiconductor encapsulation material, sales ¥304.8bn, 64% overseas, ROE 6.5%), roughly 70% Japanese share in pharmaceutical packaging film in its history page, and a 'Three Strengths' section (platform technologies, global framework, people) that is qualitative. Re-checked 21 Oct 2026 under the rule as written: a section in an investor document counts the same as a page, and the At a Glance gives the share. A dedicated section with quantified strengths, so 5. Source document →
S4Growth drivers identified and quantified in English5/5
The English decks name the drivers and put numbers on them. The FY2025 deck (11 May 2026) names AI servers (power and memory encapsulants, bonding paste, LαZ), China local semiconductor production, Kyocera-business synergies and humanoid-robot stator encapsulants, each with a segment profit forecast (Semiconductor ¥23.5bn, 20% margin). It sets heat-dissipating insulation sheets at ¥5bn sales by FY2030, COPLUS at ¥5bn and AQNOA at ¥1.5bn. Focus-area sales ratio is 17% in FY2025, targeted at 20% in FY2026 and 45% in 2030. The MTP gives the 3+1 mobility strategic-product sales plan (¥8bn to ¥18bn) and segment targets. The 89-page Business Briefing (8 Sep 2026) expands on these by segment. Named drivers with numbers attached, so 5. Source document →
S5Results-briefing transcripts or Q&A published in English4/5
Every Japanese '主な質疑応答議事録' has an English 'Main Q&A Summary': Q1 FY2026 (EN 5 pp / JA 3 pp), FY2025 (4/3), Q2 FY2025 (3/2), FY2024, Q2 FY2024 and earlier, and the Business Briefing Q&As of Sep 2025 and Sep 2026. Neither language has one for the Q1 FY2025 or Q3 briefings. The results Q&As carry the same PDF creation dates in both languages (e.g. 7 Aug 2026; 14 May 2026). The 8 Sep 2026 Business Briefing Q&A was posted in Japanese on 17 Sep (news item; PDF created 15 Sep), but the English PDF was created 2 Oct and modified 5 Oct, about two and a half weeks later. Complete coverage, but one English Q&A arrived later than the Japanese. Under the consistency ruling, English Q&A arriving any days after the Japanese is 4. Source document →
S6Integrated or annual report available in English4/5
Integrated Report 2025 in English, 8.2MB, with a 2024 back number. FY2024 dominates the text, so it covers the year ended March 2025 - one edition behind as at 1 October 2026. Source document →
S7Progress against the previous plan, including misses, explained in English4/5
MTP 2024-26 opens with 'Review of Medium-Term Business Plan 2021-23' (pp4-6). It sets the FY2023 targets (original → revised May 2022) against the FY2021-23 actuals: revenue ¥250→300bn against ¥287.3bn, business profit ¥25→30bn against ¥27.5bn, margin 10.0% against 9.6%, ROE 10.0% against 7.8%, payout 30%+ against 32.1%. Segment actuals follow with a qualitative review (e.g. HPP 'failed to keep up with changes in the business environment following the COVID-19 pandemic'). The explanation covers only the business-profit shortfall ('fell short of the upwardly revised target but achieved a record high'). The ROE and revenue misses against the revised targets are not explained. The reconciliation is complete but the explanation is partial, so 4. Source document →
G1Corporate governance report available in English5/5
The Corporate Governance Report filed with TSE, in English, 38 pages, last updated 26 June 2026, alongside the company's own Corporate Governance Guidelines. Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English Notice of the 135th AGM (2 Jun 2026) profiles all nine director candidates, which is the whole board, since every director stands each year. Each profile gives date of birth, shares held, board attendance (e.g. 13/13), dated career history including when they became a director (e.g. Fujiwara: Director June 2014, President 2018, Chairman 2025), concurrent posts, and reasons for nomination. For outside directors it also gives the term in office (Matsuda: ten years at this meeting, plus one prior year as outside auditor) and the independence determination against the company's criteria, which are reproduced on p19. Tenure, career and independence for every director, so 5. Source document →
G3Board skills matrix published in English5/5
The English 135th AGM notice (p15) has the current skills matrix, as of 24 Jun 2026. All nine directors are mapped against eight skills: corporate management, global, sales and marketing, manufacturing and production engineering, R&D, sustainability/ESG, DX/IT, and finance/accounting. p16 gives the reason each skill is required. p17 has a separate matrix for the four corporate auditors. Current matrix in English, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English5/5
The English Corporate Governance Report (last update 26 Jun 2026) sets it out in full (pp19-21). Structure: monthly fixed pay, a performance-linked cash bonus and restricted stock, with a standard mix of about 50/40/10; outside directors get fixed pay only. The bonus KPIs and weights are business profit 60%, ROE 10%, GHG reduction 10%, CDP score 10% and female-manager ratio 10%, each with yearly targets for FY2024-26 (e.g. business profit ¥30/34/40bn, ROE 8/8.5/9%), achievement-coefficient tables and the formula. Amounts: FY2025 total ¥500m for nine directors (fixed ¥281m, bonus ¥179m, stock ¥41m) and ¥77m for auditors, within caps of ¥550m and ¥150m. Structure, KPIs, weights and amounts, so 5. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 135th AGM dated 2 June 2026 for a meeting on 24 June - 22 days - 19 pages with the Reference Documents for the Shareholders' Meeting in English. The notice points to a separate file of matters omitted from the written document, which is on the Japanese page only; it holds the business-report detail, not the proposals. (Reason corrected 14 Oct 2026; an earlier version said the English omitted-matters file was there.) 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 English5/5
Results of Voting at the 135th Ordinary General Meeting, 24 June 2026, in English: voting rights exercised on each matter resolved with the requirements for approval. Published for every meeting back to the 132nd. Source document →
G7Cross-shareholdings in English with reduction schedule and rationale3/5
The English CG report (Principle 1.4) gives the holding policy and the board's review criteria: holding purpose, benefit and risk against cost of capital, and contribution to corporate value. It reports that in FY2025 the company sold all shares of 4 issues and part of 5, and that the board reviewed each holding in March 2026 and confirmed the need for each while committing to further reduction. The English notice of 1 Oct 2026 adds that 8 listed holdings were sold May-Sep 2026 'to improve asset efficiency by reducing cross-shareholdings', for a ¥14.3bn gain. Missing from the English: the number and balance-sheet amount of holdings, and any reduction target or schedule. Integrated Report 2025 and the CFO message say nothing on it, and the holdings table is in the Japanese-only yuho. Policy and numbers, no target, so 3. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
The English homepage (www.sumibe.co.jp/english/) has 'Investor Relations' in the global navigation and an 'Investor Relations' link in its About Us section. Both go straight to /english/ir/. One click. Source document →
O2English document links resolve to English documents5/5
Opened 30 English document links across types and years. Tanshin: Q1 FY2026, FY2025, Q3 FY2025, 1H FY2025, 1H FY2018 and Q3 FY2011, plus the 2022 tanshin correction. Decks: Q1 FY2026, FY2025, Q3 FY2025, FY2014, MTP 2016-18, 2021-23 and 2024-26. Business Briefing Sep 2026. Q&A summaries: Q1 FY2026, FY2025, Business Briefing 2026, Q2 FY2025 and Q1 FY2022. AGM notices: 135th and 132nd. Voting results: 134th and 133rd. Also the CG report, CG Guidelines, Integrated Report 2025, and notices of 30 Mar 2026 (two) and 1 Oct 2026. All are English. The Fact Book xlsx is a bilingual English/Japanese workbook shared with the Japanese page. The one Japanese-only item, the annual securities report, is referenced in the CG report and labelled '(in Japanese only)'. All English, so 5. Source document →
O3English IR archive free of dead links5/5
In the same sample of 30 English links, every document opened, 1 to 89 pp, dated 2012 to Oct 2026. The Fact Book downloaded. No dead links, so 5. Source document →
O4English IR pages render without blank JavaScript failures5/5
Every main page rendered its content in Chromium. Checked: the English homepage (topics list), IR top, Management Policy, Business Overview by Segment and its sub-pages, Financial Information and its sub-pages (full-year and quarterly tables to Q1 FY2026, per-share indexes), Stock Information and Stock Overview (shareholder table), IR Library and its four sub-pages (full document lists), Shareholders' Meetings, Corporate Governance, IR Events (schedule and dated materials), Integrated Report, Topics (year pages) and the IR inquiry page. None was blank or had an empty widget. So 5. Source document →
O5Single page listing all English IR documents by date and type3/5
There is no single library. The IR Library is a hub of type pages: Business Results (tanshin titled by period, no posting dates), Integrated Reports (under Sustainability), Fact Book, and Presentations (decks, summaries, Q&A and MTPs, grouped by year without posting dates). AGM documents and the CG report are on their own pages. The dated lists are partial. Topics (by year, categorised IR/Company) carries tanshin and timely disclosures but not decks, Q&A, AGM notices or the CG report. IR Events is dated and lists briefing decks and Q&A, but it skips Q3 FY2025 and mislabels Feb 2025 as 'February 3, 2024'. Split across type pages, partly dated, so 3. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep. Tanshin run from Q3 FY2011 to Q1 FY2026 (every quarter). Decks and summaries run from FY2014, with Q&A summaries from FY2022 and MTPs 2016-18, 2021-23 and 2024-26. There are AGM notices and voting results for the 132nd-135th meetings, integrated reports 2024-2025 plus a back-issue list, a 15-year Fact Book, and Topics for 2024-2026. Several years across document types, so 5. Source document →
O7Named English IR contact published4/5
"Inquiry about Investor Relations" in the English IR menu, and a "Call or email us about Investor Relations" box on every IR page, lead to a dedicated IR page with a telephone number, +81-3-5462-4111, and its own IR form (inquiry.sumibe.co.jp/m/e_ir). Dedicated and immediately obvious: 4 (was 3 under the superseded rule that needed a named person; re-checked 14 Oct 2026). The results summary names Tsuyoshi Ueda, Manager of Corporate Communications Dept. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
English and Japanese dates match for the latest two results. Q1 FY2026: tanshin 3 Aug 2026 in both news lists, and the deck PDFs were created 31 Jul in both, listed for 3 Aug in the English IR Events and Japanese IR news. FY2025: tanshin 11 May 2026 in both, decks created 8 May in both, listed for 11 May. Q3 FY2025 (2 Feb 2026) and 1H FY2025 (4 Nov 2025) tanshin are also same-day. Deck dates come from listings and PDF creation dates, since the English topics list does not post decks. Same day, every period, so 5. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Lags, English against Japanese, for the five documents: Q1 FY2026 tanshin 3 Aug / 3 Aug = 0. FY2025 tanshin 11 May / 11 May = 0. 135th AGM notice: both dated 2 Jun 2026 (no posting dates) = 0. Corporate Governance Report: Japanese updated 26 Jun 2026; the English carries the same 'Last Update: June 26, 2026', but its PDF was created 20 Aug 2026, so about 55 days on the creation date. Annual securities report: Japanese filed June 2026 (PDF created 22 Jun), no English version, so more than 90. Median 0 days, so 5. The AGM and CG figures are from document and PDF creation dates. Source document →
R3Timely disclosures published in English5/5
Compared the Japanese トピックス (IR情報/会社情報) for Oct 2025 to Oct 2026 with the English Topics list. Every timely disclosure has a same-day English counterpart: interim dividend 31 Oct; 1H tanshin 4 Nov; ESOP treasury-share completion 12 Dec; Kyocera chemical-business acquisition 22 Jan (with an English briefing deck and Q&A); Q3 tanshin 2 Feb; representative director change and share cancellation 27 Feb; dividend revision and additional director candidate 30 Mar; FY tanshin 11 May; restricted-stock disposal 24 Jun and completion 17 Jul; Q1 tanshin 3 Aug; Kenton plant closure 28 Sep; investment-securities gain 1 Oct. The only item not listed separately on either site is the 2 Feb 2026 forecast-revision notice that the Q3 tanshin refers to; the revised figures are in the English tanshin and deck. All, same day, so 5. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
Rendered the English homepage, IR top, Stock, Financial Information, IR Events, Integrated Report, IR inquiry, FAQ and Site Policy pages, and searched the visible text for translation notices: no machine- or AI-translation notice and no pop-up. The documents carry only the human-translation precedence line ('translated from the Japanese original for reference purposes only ... the original shall prevail'), which belongs to R5. Nothing is presented as machine-translated, so 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese1/5
'This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy ... the original shall prevail.' 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 →
FY2024–FY2026 cash allocation and semiconductor growth plan
Strategy or target reset · In progress · Action announced 13 May 2024
Sumitomo Bakelite set three-year investment, return and segment targets; later disclosures reported capex and growth investment progressing as planned.
Timeline and sources (2 steps)
- 13 May 2024Plan announced The company set FY2026 earnings, ROE and four cash-allocation buckets. Medium-Term Business Plan 2024–2026
- 31 March 2025 · announced 9 September 2025Progress described The company said capital and growth investment were progressing as planned and reiterated the ROE path. Business Briefing · Message from Finance and Accounting Officer
What management said it would do
Sumitomo Bakelite allocated ¥50bn capex, ¥20bn growth investment, ¥50bn strategic investment and ¥30bn shareholder returns.
From the company’s own disclosure · Medium-Term Business Plan 2024–2026
What it actually did, and when
The company says capex and growth investment are progressing as planned, but cumulative spend and outcomes are not fully reconciled.
Partly disclosed — a gap remains · Business Briefing · Message from Finance and Accounting Officer
What it disclosed about the economics
The plan aims for 9% ROE in FY2026 and uses capital-cost-aware allocation; project hurdle rates are not disclosed.
Partly disclosed — a gap remains · Medium-Term Business Plan 2024–2026 · Message from Finance and Accounting Officer
What has happened since
The final FY2026 result is not due.
Partly disclosed — a gap remains · Medium-Term Business Plan 2024–2026
The question this leaves open
Investor question: What has each investment bucket produced? IR preparation: publish original, committed, spent and return outcomes by cohort.
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
The plan allocates ¥50bn to capex, ¥20bn to growth investment, ¥50bn to strategic investment and ¥30bn to shareholder returns.
Capital structure
Governance of capital decisions
Management allocates resources based on capital costs and reports progress through the CFO message.
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.
- Research error 21 October 2026 · S3: 4 → 5. The English integrated report's At a Glance gives about a 40% global share in semiconductor encapsulation materials. The rule allows a dedicated page or section; the earlier score discounted it for sitting inside the report.
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.