TSUGAMI CORPORATION
Cite as: Japan IR Index, TSUGAMI CORPORATION (6101), methodology GNT-BDS v1.1.1, reviewed 2026-10-12.
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.
O7 Named English IR contact published 2/5 Quick fix
Link a dedicated IR contact (form, address or e-mail) from the English IR section.
G6 Shareholder vote results disclosed in English 2/5 Quick fix
Publish the vote counts from the Japanese extraordinary report in English.
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.
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 (Machinery) | 76.4 | 26 of 39 |
| Same size band (¥100–500bn) | 77.1 | 38 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 3 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 June 30, 2026 (IFRS), 13 pages, listed 30 July 2026 like the Japanese tanshin (15 pages). Its contents match the Japanese table item for item: overview of results, financial position and forecasts, the condensed statements, the notes with segment information, and the supplementary overseas-revenue and machinery-category tables. Every quarter of FY2025 is in English on the Japanese release day (FY 20 pages vs 19). Complete and on the Japanese cycle. Source document →
F2English results summary is a full translation, not an excerpt5/5
Latest English tanshin, Consolidated Financial Results for the Three Months Ended June 30, 2026 (IFRS), is 13 pages against the Japanese 15. The contents tables match item for item: overview of results, financial position, forecast explanation, the four condensed statements, the notes (going concern, segment information), and the supplementary overseas revenue and revenue by machinery category. The FY2025 full-year tanshin is 20 English pages against 19 Japanese and also matches section for section, including per-share information, subsequent events and changes in officers. A whole translation. Source document →
F3Financial statements including notes available in English5/5
The Q1 FY2026 English tanshin (30 Jul 2026) carries the full condensed statements (financial position, P&L and comprehensive income, changes in equity, cash flows) and the same notes as the Japanese, including the segment table. The FY2025 tanshin and the 125-page English yuho carry the full-year statements with complete notes. Full statements and notes for the latest period. Source document →
F4Annual securities report available in English in any form4/5
Annual Securities Report (April 2025 to March 2026) (Translation of Yukashoken-Hokokusho), 125 pages: company overview, business situation with risks and the MD&A, facilities, the submitting company with corporate governance and shareholdings, financial status with the statements and notes, and reference information. The audit firm (Ernst & Young ShinNihon) is named, but no independent auditor's report is translated. It is listed under 16 June 2026, though the file was created on 14 July. Complete except the auditor's report. Source document →
F5Segment revenue and profit disclosed in English, consistent definitions5/5
Geographic reportable segments (Japan, China, India, South Korea, Other) are given with revenue and segment profit in every English tanshin. For example, Q1 FY2026 gives China revenue ¥38,013m and segment profit ¥11,553m, and the FY2025 note has the full segment table with assets and capex. The note states the basis: segments are based on the location of manufacturing and sales companies, and segment profit is revenue less cost of sales and SG&A. Revenue by machinery category is supplementary. The definitions are stated and held constant every period. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
No Excel or CSV file anywhere in the English IR site. We searched Business Performance, Financial Results, Presentation, IR top, Stock, Dividends and Integrated Report for xls/csv/excel/zip links. Business Performance has an HTML table with three years of highlights and bar-chart images. The only 'Financial data' files are 2014-2017 PDFs on the Presentation page. The Japanese 決算データ are PDFs too.
F7Guidance disclosed in English with the basis explained3/5
The FY2025 English tanshin (13 May 2026) and deck give the FY2027/3 forecast with a half-year split: revenue ¥145.0bn, OP ¥36.5bn, net ¥17.0bn, EPS ¥370.28, plus dividend and capex/R&D forecasts. The only basis given is one sentence: 'Considering trends in domestic and overseas markets and our current order situation'. There is no FX assumption, and the deck's regional and machine-category charts show only the total for the forecast year, so there are no segment forecasts. Revisions come as English notices with short reasons (for example 21 Apr 2026, 'steadily promoted its business ... including the Chinese market'). The Q1 tanshin says the forecast is unchanged. Numbers without their basis. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English results for the three months to 30 June 2026 listed 30 July 2026, the same period and day as the latest Japanese tanshin. The Q2 results are not due until November. Source document →
S1Medium-term management plan in English with numerical targets3/5
There is no medium-term plan with a plan period or P&L targets in either language. The English 'Management policy in the medium-to-long-term' page lists three qualitative priorities. The quantified targets are in the English 'Initiatives for Achieving Management Conscious of Cost of Capital and Stock Price' (13 May 2026, 11 pp, same day as the Japanese), labelled 'Medium- to long-term targets': ROE consistently above the cost of equity (stated as 9-11%), an equity ratio above 60%, and cash of about three months' sales. These are some quantified targets, with nothing on growth, profit or a plan horizon. Floor of 3; arguably 2. Source document →
S2IR presentations published in English4/5
Briefings are held at the half and full year, and an English deck exists for each, on the Japanese date and at the same length: Financial Results for the Fiscal Year Ended March 31, 2026 (13 pages, 13 May 2026) and for the Six Months Ended September 30, 2025 (13 pages, 13 November 2025). The Japanese page pairs each deck with a 決算データ financial data sheet. The English page has had no counterpart since 2017 ('Financial data'). No Q&A on either side. Every briefing, without the supplement the Japanese side gets. Source document →
S3English equity-story or investment-highlights page4/5
Integrated Report 2025 (English, 22 pp) has a 'Tsugami's strengths' section and a chapter 'Tsugami's strengths and growth strategy'. They cover technology for micro parts down to 0.05 mm, process-integrated new models, a global production system with in-house parts in China and India, and the high-end versus largest-market split. A few figures appear, such as revenue mix by region (China 74.9%) and by machine type (automatic lathes 84.1%), but it is mostly qualitative and product-led. There is no 'why invest' page on the site. Dedicated and specific, mostly qualitative. Source document →
S4Growth drivers identified and quantified in English4/5
The drivers are named and partly quantified across the English deck, the cost-of-capital document and the integrated report. India: a new factory opened Dec 2025 (¥3.6bn) that roughly doubles capacity to 200-300 units a month. China: a new Zhejiang plant building (¥3.8bn, about +20% capacity, Jan 2028). Japan: a Nagaoka rebuild (¥2.3bn) for high-end process-integrated machines for Japan, the US and Europe. Revenue by region is given (China ¥103.1bn). Demand from IT, auto and medical end-markets is named but not sized, and there is no market size, share or contribution to a target. Named, some quantified. Source document →
S5Results-briefing transcripts or Q&A published in English0/5
No transcript or Q&A in English. The English Presentation page lists decks only. The Japanese side has none either: its 決算説明会 page carries only the 決算説明資料 deck and a 決算データ sheet per briefing, with no transcript or Q&A. The Japanese IRよくあるご質問 is a general FAQ, not briefing Q&A.
S6Integrated or annual report available in English4/5
Integrated Report 2025 in English, 22 pages like the Japanese, posted 24 March 2026 (the Japanese on 27 January). It states 'Reporting period: FY2024 (April 1, 2024 - March 31, 2025)'. The Japanese side is on the same edition, but a report covering the year to March 2025 is one edition behind under the cohort convention. Source document →
S7Progress against the previous plan, including misses, explained in English0/5
There is no previous medium-term plan, in either language, to reconcile against (see S1). The cost-of-capital document narrates 'Results' against the qualitative policy and charts ROE (23.4% in FY2026/3) against the 9-11% cost of equity, but no earlier plan's targets are set against actuals.
G1Corporate governance report available in English3/5
No Corporate Governance Report in English. The Japanese governance page links the filed report (houkokusyo_20260617.pdf). The English Corporate governance page gives only the basic concept and six basic-policy lines, and the English sustainability governance page covers anti-corruption. A site narrative in place of the filing. Source document →
G2Director biographies in English with tenure, expertise and independence4/5
The English Notice of the 123rd AGM (26 May 2026) gives career histories and reasons for nomination for 7 of the 8 directors (4 directors, 3 Audit and Supervisory Committee directors). Outside directors are labelled [Outside Director][Independent Officer] with their terms of office stated (Yamamiya six years; Hamba two; Takeuchi and Adachi six). Insiders' tenure can be read from the dated career lines. Kunimasa Ota, not up for election, is covered only by the skills rationale in Integrated Report 2025. The English Directors page lists names and titles only. All three elements, but full bios for candidates only. Source document →
G3Board skills matrix published in English5/5
The English AGM notice (26 May 2026, p42) has a skills matrix for all 8 directors as composed after the 17 Jun 2026 AGM, across seven skills (planning and management, industry knowledge, international, sales and marketing, technology/R&D, legal, financial accounting), with independence flags. Integrated Report 2025 adds skill definitions and per-director rationale as of June 2025. The current matrix in English. Source document →
G4Executive remuneration structure and its performance linkage explained in English4/5
The English yuho (FY2025, pp43-44) and Integrated Report 2025 set out the structure: fixed basic pay, monthly performance-linked pay, and restricted stock as medium-to-long-term incentive. Outside directors get basic pay only. The KPIs are named (achievement of consolidated revenue and operating profit forecasts, plus each director's business performance). Amounts are given by type: executive directors ¥131m (basic 76, performance-linked 22, stock 32). No weights, formula or mix ratio is given. Structure, KPIs and amounts, without weights. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 123rd Annual Shareholders Meeting in English, 42 pages, posted 26 May 2026, the same day as the Japanese, for a meeting on 17 June: 22 days. It has the reference materials for both items (four directors; three Audit and Supervisory Committee directors) with full candidate profiles, and an English 'Guidance on Exercise of the Voting Rights': online at evote.tr.mufg.jp or by post, deadline 5:30 p.m. on 16 June. The '(in Japanese)' labels attach only to the materials-posting websites. Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the voting website named in the English notice, evote.tr.mufg.jp (Mitsubishi UFJ Trust and Banking), 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
Notice of Resolutions of the 123rd Annual Shareholders Meeting (17 June 2026, one page) says each item 'was approved and resolved as originally proposed'. No counts. The yuho shows that the voting-results extraordinary report is filed in Japanese only. The outcome, not the tally. Source document →
G7Cross-shareholdings in English with reduction schedule and rationale3/5
The English yuho (pp45-46) gives the holding policy (held to strengthen trust with key partners, reviewed for economic rationality and capital cost every year, sold when the rationale lapses), the count and amount (12 listed stocks, ¥5,634m, plus 2 unlisted), and a per-stock table with purposes (FANUC, Daikin, Yamazen...). There is no reduction target or schedule, and no shares were sold in the year. The AGM notice repeats the policy. Policy and numbers, no target. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
The English homepage (https://www.tsugami.co.jp/eng/) footer has a visible 'Investor Relations' link straight to /eng/ir/, which is one click. The header 'Investor Relations' item is a click-open panel whose links (including the IR top) make it two clicks. The homepage news items also link directly into IR pages. One click. Source document →
O2English document links resolve to English documents5/5
We sampled 17 English document links across types and years. All are English, with only stray CJK characters in titles and metadata: tanshin 6418 (Q1 FY26), 6314 (FY25), 1898 (FY2019), 438 (FY2010); decks 6315, 6224, 553 (2007); 2017 Financial data 1470; business reports 6407 and 6261; yuho 6414 and 1912 (2020); integrated reports 6289 and 4332 (2023); AGM notice 6326, excluded matters 6325, resolutions 6327 and 4373; timely notices 6303, 6316, 6437. All English. Source document →
O3English IR archive free of dead links5/5
The same 17-plus sample (see O2), from 2007 to Oct 2026, all opened in the rendered browser as PDFs with text. None was dead. All live. Source document →
O4English IR pages render without blank JavaScript failures5/5
These English IR pages all rendered their content in the browser: IR top (latest five notices), Financial Results, Presentation, Business Report, Annual Report, Integrated Report, Shareholders' Meeting, Business Performance (table plus chart images), Stock Information (tables plus composition chart), Dividends, IR Calendar, Message, Strategy, Governance. We found no empty lists or failed widgets (screenshots checked). Every page renders. Source document →
O5Single page listing all English IR documents by date and type3/5
There is no single library. Documents are split by type across Financial Results, Presentation, Business Report, Annual Report, Integrated Report and Shareholders' Meeting pages, each dated and grouped by fiscal year. Timely disclosures sit on a separate News Release list by fiscal year, dated and untyped, and the IR top shows only the latest five. Split across pages by type, each dated. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep across types: tanshin from FY2010 (May 2011) to Q1 FY2026, decks from 2007, yuho translations from 2013, business reports from FY2018, integrated reports 2023-2025, AGM materials from the 118th meeting, and news releases from FY2008. Several years across document types. Source document →
O7Named English IR contact published2/5
The English IR menu has no contact or inquiry item. The site-wide 'Contact us' goes to the Sales Network page, whose only form (/eng/contact/form/) is a general inquiry form with no category field, listed under the Overseas Division. The tanshin names Tomohiro Yamaguchi, Senior Executive Officer, Accounting, +81-3-3808-1711. Named only in the document header, with no IR route on the site. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
The latest two results are the same day in both languages. Q1 FY2026 tanshin: EN and JA both listed 30 Jul 2026 (both PDFs created 27 Jul); no deck that quarter on either side. FY2025: tanshin and deck both listed 13 May 2026 in EN and JA (EN PDFs created 12 May). The H1 FY2025 deck and tanshin were both 13 Nov 2025, and every FY2025 quarter's English tanshin was listed on the Japanese date. Briefings, and so decks, are only at H1 and FY on both sides. Same day every period. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Per-document lags (listing dates): Q1 FY26 tanshin EN 30 Jul vs JA 30 Jul 2026 = 0. FY25 tanshin 13 May vs 13 May = 0. AGM notice 26 May vs 26 May = 0. Corporate Governance Report: no English (JA houkokusyo_20260617), counted as >90. Yuho: EN listed 16 Jun 2026, the JA filing date, but its PDF was created 14 Jul 2026, so about 28 days on the creation date. Median 0 days. Source document →
R3Timely disclosures published in English5/5
The Japanese プレスリリース list for 14 Oct 2025-14 Oct 2026 has 25 timely disclosures: forecast and dividend revisions (17 Oct 2025, 13 Nov 2025, 21 Apr 2026), dividends of surplus, monthly buyback status and buyback completion/new decisions, a representative director change (13 Nov 2025), restricted stock disposals, the cost-of-capital initiatives, and a dividend from a subsidiary. The English News Release list has all 25, item for item, on the same dates. Spot-checked PDFs were created before the date: 21 Apr 2026 revision created 21 Apr; 2 Oct 2026 notice created 25 Sep. All, same day. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
No machine-translation notice on the rendered English pages: the homepage search box is Google site search, not Google Translate, and there is no banner or pop-up. The English Term of Use page has a general accuracy disclaimer with no mention of machine translation. The documents carry only the human-translation precedence line ('the original shall prevail'), which belongs to R5. Nothing presented as machine-translated. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The tanshin, the results presentation and the English yuho each say 'the original shall prevail'. The AGM notice and the notice of resolutions are headed only '[Translation]', and Integrated Report 2025 carries no prevailing-language statement. Disclaimed on some documents. 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 2026-10-12. 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 →
May 2026 buyback completed at 99.60% of budget ceiling
Buyback · milestone reviewed · Buyback authorized 13 May 2026
The issuer reported completion on September 11 for purchases through September 10; the separate September authorization is outside this selected action.
Timeline and sources (2 steps)
- 13 May 2026Buyback authorized Maximum 300,000 shares and ¥1.5bn through November 11, 2026. May 2026 Treasury Share Acquisition Authorization
- 10 September 2026 · announced 11 September 2026Buyback completed 276,000 shares acquired for ¥1,493,930,000; 92% of volume ceiling and 99.60% of budget. Completion of May 2026 Treasury Share Acquisition
What management said it would do
The May board authorized up to 300,000 shares and ¥1.5bn.
From the company’s own disclosure · May 2026 Treasury Share Acquisition Authorization
What it actually did, and when
The company completed 276,000 shares for ¥1,493,930,000 by September 10.
Partly disclosed — a gap remains · May 2026 Treasury Share Acquisition Authorization · Completion of May 2026 Treasury Share Acquisition · FY Ended March 31 2026 Financial Results Presentation
What it disclosed about the economics
The rationale is capital-policy flexibility; no valuation-based return case is established in these selected notices.
Partly disclosed — a gap remains · May 2026 Treasury Share Acquisition Authorization · Completion of May 2026 Treasury Share Acquisition · FY Ended March 31 2026 Financial Results Presentation
What has happened since
Completion was disclosed September 11, with 92% volume and 99.60% budget utilization.
From the company’s own disclosure · May 2026 Treasury Share Acquisition Authorization · Completion of May 2026 Treasury Share Acquisition · FY Ended March 31 2026 Financial Results Presentation
The question this leaves open
Investor question: What valuation and investment alternatives governed purchases? IR preparation: disclose the decision framework, parent-level liquidity and the intended use of treasury shares.
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 May authorization used ¥1.494bn by September 10. The group separately earmarks cash for capacity and supply-chain investment.
Capital structure
March 2026 cash and cash equivalents were ¥42.1bn and borrowings ¥9.0bn; group figures do not establish cash freely distributable at the parent.
Governance of capital decisions
The board authorization is reconciled to completed volume and spend. The selected notices do not quantify a valuation threshold or per-share value gain.
Preliminary and not scored: a selected-source reading, reviewed 1 October 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 (Mitsubishi UFJ Trust and Banking) 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.