Toyo Seikan Group Holdings, Ltd.
Cite as: Japan IR Index, Toyo Seikan Group Holdings, Ltd. (5901), methodology GNT-BDS v1.1.1, reviewed 2026-10-19.
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.
F1 Quarterly and full-year results summaries (tanshin) published in English 2/5 Translation
Publish the English results summary every quarter, including the qualitative section and the notes.
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) and 1 changed under a rule change between 21 Oct 2026 and 23 Oct 2026. These are changes to our record, not to the company’s disclosure. Changes to this record →
This company is a case in “Questions shareholders ask at the AGM”: 15 Climate disclosure, 03 Unwinding cross-shareholdings, 13 Broader disclosure, 02 Price-to-book below 1 and the cost of capital, 12 CEO succession and nomination. The shareholder proposals, the company’s answers and the vote results are taken from published documents.
Compared with peers
| Peer group | Median | This company |
|---|---|---|
| Same sector (Metal Products) | 76.9 | 2 of 4 |
| Same size band (¥500bn–2tn) | 84.2 | 33 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, 28 scored 3 or more and 2 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 English2/5
What the English side calls Consolidated Financial Results is the tanshin's cover sheet and nothing else: 1 page for the first quarter of fiscal 2026 (5 August 2026) against 13 in the Japanese tanshin, 2 pages for the full year against 26. Headline figures, dividends and the forecast - no statements, no segment note. Published every period, so the cut is in the content, not the timing. Source document →
F2English results summary is a full translation, not an excerpt2/5
The English 'Consolidated Financial Results' is the tanshin's summary cover only: 1 page for Q1 FY2026 (5 August 2026) against 13 Japanese pages, 2 pages for the full year FY2025 (14 May 2026) against 26 - headline results, dividends and forecast, no qualitative section, no statements, no notes. Summary cover pages only, so 2. Source document →
F3Financial statements including notes available in English4/5
The English tanshin has no statements (cover sheet only), but the English Annual Securities Report for FY2025 (184 pages, listed 25 August 2026) carries the full consolidated and non-consolidated statements with notes and the auditor's report. Full statements and notes at the year end only; the latest quarter has none in English, so 4. Source document →
F4Annual securities report available in English in any form5/5
The whole Annual Securities Report for the 113th term (year ended 31 March 2026), filed 23 June 2026, in English: 184 pages - company overview, business overview, risk factors, management's analysis, facilities, corporate governance, employees, consolidated and non-consolidated statements, and KPMG AZSA's independent auditor's report and internal control audit report. The current year. Source document →
F5Segment revenue and profit disclosed in English, consistent definitions4/5
Net sales and operating profit by segment (Packaging, Engineering/Filling/Logistics, Steel Plate, Functional Materials, Real Estate, Others) every quarter in the English results deck (Q1 FY2026 p.7, FY2025 p.8), with forecasts by segment; the segment definitions are stated only in the annual English securities report, and the English tanshin cover sheet has no segment note. Every period, but the quarterly figures only in the deck, so 4. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
No downloadable data file. The English Financial Data page is an interactive chart/table widget (ten years of results, financial position and cash flow) with no Excel/CSV export; the only download offered is 'All latest documents', a zip of the latest PDFs. No .xlsx/.xls/.csv link on the Financial Data, Financial Highlights or IR Library pages (19 Oct 2026).
F7Guidance disclosed in English with the basis explained5/5
The FY2026 forecast is in English with its basis: the Q1 deck (7 August 2026) explains the upward revision of the first-half and full-year forecasts against the May assumptions, lists the market indicators behind it (JPY/USD, commodity prices, the Middle East conflict) and gives forecasts by segment; the FY2025 deck sets out the conditions taken and not taken into account. The revision itself has an English timely disclosure the same day. Assumptions of all three types with the revision explained, so 5. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English results for the first quarter of fiscal 2026 (April-June 2026) published 5 August 2026, the same day and period as the Japanese tanshin. Cut down, but current - F1 carries the cut. Source document →
S1Medium-term management plan in English with numerical targets5/5
Medium-Term Management Plan 2030 in English: the timely disclosure 'Formulation of Medium-Term Management Plan 2030' (30 pages) listed 14 May 2026, the same day as the Japanese (English PDF created 14 May), and the briefing deck (29 pages, as the Japanese) listed 20 May. Targets for FY2030: ROE 8% or more, EBITDA 130 billion yen (+23.7 billion from FY2025), DOE 4%, share repurchase of 20 billion yen to FY2027, with segment targets. Current, quantified, same day, so 5. Source document →
S2IR presentations published in English5/5
A deck for every period - Q1 FY2026 (7 August 2026, 26 pages) back through Q1 FY2025 - and for the full-year and half-year briefings the English side gets the same supplements as the Japanese: a text version of the briefing and a summary of the Q&A. The Japanese side's only extra is an audio stream of the full-year briefing, a medium, not content. No Q1 briefing is held in either language. Source document →
S3English equity-story or investment-highlights page5/5
A dedicated English 'Toyo Seikan Group in Numbers / at a Glance' page: 'Strengths of Toyo Seikan Group', FY2025 net sales 963.2 billion yen and operating income 52 billion yen, the segment sales mix, and product shares (No. 1 in Japan: beverage cans about 40%, PET bottles about 30%, plastic caps about 60%, paper cups about 60%). Dedicated, with quantified strengths, so 5. Source document →
S4Growth drivers identified and quantified in English5/5
The English MTP 2030 deck names the drivers and quantifies them: EBITDA growth to 130 billion yen split between mature and growth areas (packaging and filling +8 billion, steel plate/battery materials +7 billion, other areas +3 and +5 billion yen), Open Up! products and services to 50% or more of sales by FY2030 (25.5% in FY2024), overseas expansion in filling (Thailand, Malaysia). Named drivers with numbers, so 5. Source document →
S5Results-briefing transcripts or Q&A published in English4/5
For the full-year and half-year briefings (no Q1 briefing is held) the English side gets the same supplements as the Japanese - a text version of the briefing and a Q&A summary - listed under the Japanese date, but the English files arrive later: FY2025 English text and Q&A created 8 June 2026 (Japanese 25-26 May; English IR News announces the text on 15 June), H1 FY2025 English created 21 November 2025 for a 10 November briefing. Every period, but late, so 4. Source document →
S6Integrated or annual report available in English4/5
Integrated Report 2025, 53 pages, in English - its editorial policy states the period covered as April 2024 to March 2025 (FY2024). The Japanese side already carries Integrated Report 2026; the English edition is one behind. Source document →
S7Progress against the previous plan, including misses, explained in English5/5
The English MTP 2030 deck reviews Medium-Term Management Plan 2025 (p.9): FY2025 planned vs results - net sales 850.0 vs 963.2, operating profit 50.0 vs 52.0, EBITDA 110.0 vs 106.3 billion yen, ROE 5.0% vs 8.1% (5.9% excluding extraordinary income) - with the reasons (raw-material and energy costs in FY2022, price hikes and growth strategies) and a review of the key issues and measures (p.10). Targets against actuals with the variances explained, so 5. Source document →
G1Corporate governance report available in English3/5
The English corporate governance page links the Corporate Governance Report labelled "(in Japanese)" - the TSE filing is not translated. What the English reader gets instead is the site's own governance section: a Corporate Governance Policy, independence criteria for outside officers and the board effectiveness assessment results. Current and substantial, but written for the site in place of the filing. Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English convocation of the 113th AGM (89 pages) proposes all nine directors (the whole board, terms expiring at the meeting), each with career history, years in office, reasons for nomination and an 'Independent' designation where it applies. All three elements for every director, so 5. Source document →
G3Board skills matrix published in English5/5
'[Reference] Director Candidates' Skills Matrix' in the English AGM notice of 1 June 2026, nine skill areas across the proposed board. Current, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English4/5
The English Annual Securities Report (pp.100-102) sets out the structure (basic, performance-linked bonus, performance-linked equity through a board benefit trust), the mix (50% basic, 33% short-term, 17% medium-to-long-term), the KPIs (consolidated ROE, EBITDA and a sustainability index, coefficient 0.5-1.5) and the FY2025 amounts by pay type (directors excluding outside: 351 million yen = 171 basic + 124 cash performance-linked + 56 non-cash). Re-checked 21 Oct 2026 under v1.1.1, which needs the weight of each performance measure in every performance-linked element: the bonus uses net sales, operating profit and operating margin with no weights (the stock plan is weighted 40/30/30). So 4. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Convocation of the 113th Ordinary General Meeting, posted in English on 1 June 2026 for a meeting on 26 June 2026 - 25 days - 89 pages with the Reference Documents setting out all six proposals in full, including every director candidate. No Japanese-only voting caveat. 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
The English General Meeting page and IR News carry the convocation and nothing after it. The Japanese side publishes both a notice of resolutions (26 June 2026) and the extraordinary report with the vote results (29 June 2026); neither has an English counterpart.
G7Cross-shareholdings in English with reduction schedule and rationale3/5
The English Annual Securities Report (4.4.5 Shareholdings) states the holding policy and the board's annual verification against the cost of capital (March 2026), the number of issuers and carrying value, issue-by-issue holdings with purpose and the year's increases/decreases, and progress: 51.4 billion yen of shares sold since fiscal 2022. The Capital Efficiency Initiative 2027 says 'further reduce strategic shareholdings' but sets no amount or ratio. Policy, numbers and progress without a target, so 3. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
The English homepage links the IR top (tskg-hd.com/en/ir/) directly from a visible 'Investor Relations' panel and the header: one click, so 5. Source document →
O2English document links resolve to English documents5/5
Twelve English document links sampled across types, all English: interim share-repurchase status (1 Oct 2026), securities reports FY2024 and FY2025, Integrated Report 2025 (print and web), FY2025 and Q1 FY2025 results summaries, FY2025, Q3 and Q1 FY2025 decks, H1 FY2025 briefing text and Q&A, 113th AGM notice. So 5. Source document →
O3English IR archive free of dead links5/5
The same twelve links all opened; none dead. So 5. Source document →
O4English IR pages render without blank JavaScript failures5/5
Rendered: homepage, IR top, IR News, Financial Data (interactive chart and table widget renders), Financial Highlights, Financial Results, Briefing Materials, Shareholders' Meeting, IR Calendar, MTP and Corporate Governance pages all render their content. So 5. Source document →
O5Single page listing all English IR documents by date and type5/5
English IR News is one list of every document, dated and typed (Timely disclosure, Financial summary, IR materials, Securities Report, Shareholders' meeting), filterable by year back to 2006. One dated, typed page with every type, so 5. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
Several years across types: IR News back to 2006, securities reports for FY2024 and FY2025, decks and briefing texts for each period, integrated reports. So 5. Source document →
O7Named English IR contact published3/5
Named in the tanshin header - Kaname Kimoto, General Manager of Investor Relations Department, +81-3-4514-2019. On the site, the IR section has no contact page of its own; the route is the site-wide Contact Us form, whose 'Type of inquiry' list carries 'Investor Relations' among five options. Genuine, but a shared form reached from the global header, not a dedicated IR route. Source document →
R1Earnings materials published in English simultaneously with Japanese3/5
The English results summary is listed the same day as the Japanese tanshin (5 Aug 2026, 14 May 2026) but is only the cover sheet; the full English tanshin never comes. The decks are same day (Q1 FY2026 7 Aug on both, FY2025 20 May on both). Under the ruling that a full English tanshin that never comes is 3, 3. Source document →
R2Median lag in days between Japanese and English statutory publication1/5
Japanese / English: Q1 FY2026 tanshin 5 Aug / cover sheet only (untranslated, >90); FY2025 tanshin 14 May / cover sheet only (>90); 113th AGM notice 29 May / 1 Jun = 3; Corporate Governance Report: Japanese only, the English page links it 'in Japanese' (>90); Annual Securities Report 23 Jun / 25 Aug = 63. Median over 90 days, so 1. Source document →
R3Timely disclosures published in English5/5
Twelve months of the Japanese IR news (Oct 2025 - Oct 2026) against the English: every 適時開示 has a same-day English timely disclosure - employee RS disposal (19 Dec), subsidiary share transfer (27 Feb), JV discussions terminated (31 Mar), forecast revisions (30 Apr, 5 Aug), MTP 2030, dividend increase, RS completion and equity-plan revision (14 May), buyback resolution (5 Aug), equity-plan items (7 Aug), buyback status (1 Sep, 1 Oct). All, same day, so 5. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
No machine-translation notice on the rendered English pages (homepage, IR top, IR News, financial data, results, briefings, AGM, calendar, MTP, governance) or in the English documents read. The securities report's '[Translation for Reference and Convenience Purposes Only]' header is human-translation precedence language (R5). So 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
Disclaimed on some documents: the securities report and the AGM notice both say the Japanese original "shall prevail". The tanshin is headed only "[Translation]", and the results deck, the briefing text and the integrated report 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 2026-10-19. 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 →
FY2030 investment and capital-efficiency plan
Strategy or target reset · Announced · Plan announced 14 May 2026
The 14 May 2026 plan sets ¥350bn of FY2026–30 investment, ¥150bn shareholder returns, an 8%-plus ROE goal, 4% DOE and ¥20bn remaining repurchases through FY2027. These are forward targets, not completed spending or achieved returns; the FY2025 8.1% ROE baseline includes extraordinary income.
Timeline and sources (1 step)
- 14 May 2026Medium-Term Management Plan 2030 published Toyo Seikan quantified operating cash flow, investment, shareholder returns, DOE, repurchases and ROE targets. FY2025 ROE of 8.1% is historical; excluding extraordinary income the issuer gives 5.9%. Formulation of Medium-Term Management Plan 2030
What management said it would do
On 14 May 2026 Toyo Seikan published an FY2026–30 plan for ¥350bn investment and ¥150bn shareholder returns, alongside 4% DOE, ¥20bn of remaining buybacks through FY2027 and ROE of at least 8% at the stated FY2027 and FY2030 milestones.
From the company’s own disclosure · Formulation of Medium-Term Management Plan 2030
What it actually did, and when
The dated action verified here is publication of the new plan. This first-pass case has not verified individual post-plan repurchases, capital projects, strategic-shareholding sales or a subsequent plan-versus-actual report; the absence of a verified entry is not a claim none occurred.
Partly disclosed — a gap remains · Formulation of Medium-Term Management Plan 2030 · Medium-Term Management Plan 2030
What it disclosed about the economics
The plan allocates ¥450bn operating cash flow plus ¥50bn asset disposals/financing to ¥350bn investment (¥210bn strategic, ¥140bn maintenance) and ¥150bn shareholder returns. It reports FY2025 ROE of 8.1%, or 5.9% excluding extraordinary income; target returns rely on earnings and controlled equity.
From the company’s own disclosure · Formulation of Medium-Term Management Plan 2030
What has happened since
The FY2025 ROE figures predate the May 2026 plan. Its FY2027/30 ROE and cash-allocation targets are not yet outcomes, and this first pass has not completed a post-plan execution search.
Partly disclosed — a gap remains · Formulation of Medium-Term Management Plan 2030
The question this leaves open
Investor question: Which investment projects clear a disclosed return hurdle, and how will ¥50bn of asset disposals/financing and repurchases be sequenced? IR preparation: reconcile reported and adjusted ROE and show dated plan-versus-actual sources and uses.
Our analysis, not a company statement
Balance sheet and capital-policy indicators
No balance-sheet reading has been published for this company. See the companies covered →
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.
- Rule change 21 October 2026 · G4: 5 → 4. Under v1.1.1, a 5 needs the weight of each performance measure in every performance-linked element. The bonus uses net sales, operating profit and operating margin with no weights; the stock plan is weighted.
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.