FUJI CORPORATION
Cite as: Japan IR Index, FUJI CORPORATION (6134), 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.
G6 Shareholder vote results disclosed in English 2/5 Quick fix
Publish the vote counts from the Japanese extraordinary report in English.
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.
O5 Single page listing all English IR documents by date and type 4/5 Quick fix
Keep one English page that lists every IR document with its date and type.
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.
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 →
Compared with peers
| Peer group | Median | This company |
|---|---|---|
| Same sector (Machinery) | 76.4 | 8 of 39 |
| Same size band (¥500bn–2tn) | 84.2 | 14 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, 31 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
First Quarter 2027 consolidated financial statements (tanshin), 3 August 2026, the same day as the Japanese: 13 English pages against 12 Japanese, with the overview of operating results and financial position, the statements and the segment note all present. Every quarter of the past two years is in the English library. Source document →
F2English results summary is a full translation, not an excerpt5/5
Latest English full-year tanshin, Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (14 May 2026), is 19 pages against the Japanese 17, and the contents match item for item: overview of results (with the segment narrative), financial position, cash flows, future outlook, dividend policy, accounting standards, the four statements, notes (going concern, changes in presentation, segment information, per-share, subsequent events), plus orders and sales and the revenue disaggregation. The Q1 FY2027 tanshin (3 Aug 2026) is 13 English pages to 12 Japanese, also complete including the segment note. A whole translation. Source document →
F3Financial statements including notes available in English5/5
The Q1 FY2027 English tanshin (3 Aug 2026) carries the quarterly balance sheet, income and comprehensive income statements and the notes the Japanese carries (segment information with reconciliation, significant change in equity, going concern, quarterly cash-flow note). The FY2026 tanshin carries full-year statements including cash flows and changes in equity with full notes, and the 42-page English securities report adds the full statutory notes. Full statements and notes for the latest period. Source document →
F4Annual securities report available in English in any form3/5
'Fiscal 2026 Annual Securities Report' is current - the 80th business period, filed 25 June 2026 - but it is the cover page followed straight by the Financial Information part: 42 pages of statements and notes. None of the narrative parts (business overview, risks, management's analysis, governance), and no independent auditor's report, although the text says KPMG AZSA audited the statements. Source document →
F5Segment revenue and profit disclosed in English, consistent definitions5/5
Two reportable segments (Robotic Solutions, Machine Tools) plus Others, with sales and segment income in every English tanshin: Q1 FY2027 Robotic Solutions ¥58,624m sales; FY2026 Robotic Solutions ¥168,737m sales and ¥33,623m income, Machine Tools ¥9,705m and a ¥107m loss. The FY2026 note states the basis (segments by product and service type, segment income is operating profit, inter-segment at market prices) and gives assets, depreciation and capex. The deck adds regional, sector and machine-type splits for each quarter. Definitions stated and held constant every period. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English4/5
The English Financial Highlights, Financial Position and Cash Flow pages carry an 'EXCEL Download' (QirExcelReport_6134_quarter.xlsx, dated 22 May 2026, the same bilingual Japanese/English workbook as the Japanese pages). It has five sheets: quarterly highlights, P&L line items, balance sheet, cash flows, per-share data and dividends for FY2023 to FY2026 plus the FY2027 column and forecast. That is four completed fiscal years, short of five, with no segment data, and it was not refreshed for Q1 FY2027. Excel, but narrower and shorter than five years. Source document →
F7Guidance disclosed in English with the basis explained5/5
The FY2026 English tanshin (14 May 2026) gives the FY2027 forecast with a first-half split (sales ¥211.0bn, OP ¥43.6bn, net ¥33.0bn, EPS ¥375.37) and a future-outlook section (AI server and data-centre demand, automotive electrification, Middle East and FX uncertainty). The English deck adds orders, sales and backlog forecasts by segment (Robotic Solutions ¥200bn, Machine Tools ¥9bn), capex, depreciation and R&D, and states that the Middle East impact is factored in. The 3 Aug 2026 English Notice of Revision raises the full year to ¥244.0bn / OP ¥60.0bn and gives the reasons (AI-server demand, North America-bound equipment). There is no FX assumption, but there is a market view, segment forecasts and explained revisions. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English results for the quarter ended 30 June 2026 published 3 August 2026, the same period and day as the Japanese filing. Source document →
S1Medium-term management plan in English with numerical targets5/5
Mid-term Business Plan 2026 (FY2025 to FY2027) in English, 36 pages against the Japanese 36 (both dated 10 May 2024). It has consolidated targets (net sales ¥180bn, OP ¥33bn, ROE 10%, PBR 1.1x or more, payout 50%+, ¥15bn+ buybacks), segment targets (Robotic Solutions ¥145bn/¥30.6bn, Semiconductor ¥27bn/¥5.5bn, Machine Tools and Others ¥8bn/¥0.5bn), and the 2031 and 2036 sales path. The May 2026 revision (ROE to 11% or more, ¥10bn buyback in FY2027) is in the English deck and the Growth Strategy page the same day. Current, complete, as the Japanese. Source document →
S2IR presentations published in English4/5
An English 'Financial Result Explanatory Materials' deck for every quarter, same day as the Japanese, 28 pages to 28. But the Japanese library links a full transcript (書き起こし, on logmi) of every results briefing - Q1 FY2027 on 7 August 2026, the full year on 22 May - and the English side has no counterpart. Source document →
S3English equity-story or investment-highlights page5/5
The English Investor Guide is an investor-framed section with 'Fuji in 3 Minutes', 'Fuji Strengths' and 'Growth Strategy'. Fuji in 3 Minutes has 'Fuji by the Numbers': machines assemble about half the world's smartphone boards, products in 60+ countries, net sales ¥180.6bn, overseas ratio 90.8%, OP margin 16.2%, payout 50.3%, market cap ¥410.6bn. Fuji Strengths sets out six strengths (in-house technology, modular design, patents with strength charts, comprehensive coverage, automation, 100+ sales and service locations). Dedicated, with quantified strengths. Source document →
S4Growth drivers identified and quantified in English5/5
The drivers are named and quantified in English. The MTP: mounter market expected at ¥500bn by FY2031 with a 35% share target; next drivers automotive and semiconductors, with ECU/sensor and module-part market forecasts; die bonders with 80% share in memory and production from 30-50 to 100 units a month; segment sales and OP targets. The May 2026 deck adds mounter and die-bonder market forecasts to FY2031/2030 (AI servers, SiP, hybrid bonders), and the Growth Strategy page names AI servers, automotive electronics and SiP with product specifications. Named drivers with numbers attached. Source document →
S5Results-briefing transcripts or Q&A published in English0/5
No transcript or Q&A in English. The English Earnings Releases & Presentations page (FY2010 to FY2027) lists only tanshin and decks, and the English IR News has no briefing transcript. The Japanese side publishes a full 書き起こし (transcript, on logmi) for every briefing: 15 linked from the Japanese library, most recently 2027年3月期 第1四半期決算説明会 書き起こし, 7 Aug 2026 (https://finance.logmi.jp/articles/385336), and the full year on 22 May 2026. The English FAQ is a general FAQ, not briefing Q&A.
S6Integrated or annual report available in English4/5
Integrated Report 2025 in English, 41 pages, published 5 November 2025. The Japanese library already carries 統合報告書 2026; the English edition is one behind. Source document →
S7Progress against the previous plan, including misses, explained in English5/5
The English MTP 2026 document (pp8-11) reviews the previous plan (FY2022 to FY2024) against its target. Consolidated sales and OP for FY2021-FY2024 are charted against the initial plan (¥160.0bn / ¥30.0bn vs actual ¥127.1bn / ¥13.4bn in FY2024), with the same for Robotic Solutions and Machine Tools. The variances are explained year by year (material costs, weak capex demand, Machine Tools losses for five terms) and it states 'The mid-term business plan was not achieved'. The current plan's first- and second-year reviews in the May 2025 and May 2026 English decks set results against the FY2027 targets. Target against actual, explained. Source document →
G1Corporate governance report available in English5/5
The Corporate Governance Report in English, 16 pages in the filed report's own structure, 'Last updated: July 1, 2026' - current, posted on the English Corporate Governance page. Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English Notice of Convocation of the 80th AGM (62 pp) proposes all seven Board Members for election, so every director is covered. Each has a dated career history (giving tenure, e.g. Isozumi Board Member since June 2022, Kano since June 2020), a reason for nomination and shares held. The three outside directors are labelled 'Outside Board Member / Independent Director', with their length of service stated (Mizuno six years, Iwasaki two, Ueno one), independence reasoning (immaterial university transactions) and TSE/NSE designation. Every director, all three elements. Source document →
G3Board skills matrix published in English5/5
The English AGM notice (p7, 2026) has a skills matrix for all seven director candidates across eight skills: corporate management, manufacturing/technology/R&D, sales and marketing, finance and accounting, IT and DX, legal and governance, sustainability, global experience. The outside members are flagged. The current matrix in English. Source document →
G4Executive remuneration structure and its performance linkage explained in English4/5
The English AGM notice business report (pp27-28) gives the amounts by type for FY2026: Board Members ¥287m, of which fixed ¥146m, company-wide performance-linked ¥58m, individual performance-linked ¥25m, and restricted shares ¥56m. It names the KPIs, consolidated operating profit and consolidated ROE, with their results and the reason for choosing them, and gives a fixed versus performance-linked mix by position (e.g. President 67/33/0; Senior Managing Executive Officer 61/28/11). Outside directors are on fixed pay only. Re-checked 21 Oct 2026 under v1.1.1, which needs the weight of each performance measure in every performance-linked element: the company-wide part uses consolidated operating profit and ROE with no weights between them. So 4. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of Convocation of the 80th Ordinary General Meeting, dated 4 June 2026 for a meeting on 26 June - 22 days - 62 pages with the reference documents for every proposal and each candidate's career history. When an outside director resigned four days before the meeting, the partial withdrawal of the director proposal was published in English too (22 June). 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 80th Ordinary General Meeting, in English, 26 June 2026, one page: each of the four proposals 'approved and adopted as originally proposed'. No vote counts, no approval ratios. Source document →
G7Cross-shareholdings in English with reduction schedule and rationale5/5
The English 'Policy on Cross-Shareholdings' page gives the rationale (business relationships, judged against cost of capital and the investee's ROE) and states that the Board reviews each holding every year. A five-year table gives the number of holdings (35 in March 2022 to 26 in March 2026, 20 listed), carrying amount (¥18.8bn, 8.08% of net assets) and sale proceeds each year. It sets a target of ¥7bn generated through reductions over the FY2025-FY2027 plan and reports progress of ¥8bn by March 2026, with reductions to continue. The May 2026 deck repeats this. Count, amount, target with a horizon, progress and rationale. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
The English homepage (https://www.fuji.co.jp/en/) has a visible 'Investor Relations' link straight to /en/ir/ (and the header 'Investor Relations' mega-menu opens with an IR 'Main' link). The homepage news list also links IR items directly. One click. Source document →
O2English document links resolve to English documents5/5
We sampled 16 English document links across types and years and all are English (only the 2017 deck and the FY2022-24 MTP carry Japanese PDF metadata titles). Tanshin: Q3 FY2026, FY2023 (2023-05-11), FY2019, FY2011. Decks: Q2 FY2026 (Nov 2025), Nov 2017. Securities report: Fiscal 2023. Integrated Report 2024 and the 2025 data section. Annual Report 2019. AGM notice 77th (2023). Delayed withdrawal notice (Jun 2026). Notices: senior management change (19 Mar 2026), extraordinary losses (14 May 2026), buyback status (1 Jun 2023). Previous MTP. All English. Source document →
O3English IR archive free of dead links5/5
The same 16-document sample (see O2), spanning 2011 to 2026, all opened in the rendered browser as PDFs with text (3 to 62 pages). 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-materials box, live stock widget with price, PER and PBR, IR news, events, integrated report), IR Library, Earnings Releases & Presentations (accordion by fiscal year), Securities Reports, Integrated Reports, IR News (year select and type filters), Stock Price Chart (candlestick chart rendered), Financial Highlights (tables and charts), MTP, Strengths, Growth Strategy, Cross-Shareholdings, IR Calendar, General Shareholders' Meeting. The only blemish is one missing logo image in the External Recognition carousel. Every page renders its content. Source document →
O5Single page listing all English IR documents by date and type4/5
The IR Library is split by type across three pages (Earnings Releases & Presentations, Securities Reports, Integrated Reports), each dated. The English IR News is one dated list by year (2020-2026) with type tags and filters (Earnings, IR Library, Shareholders' Meeting, Releases, Notices, Others). It carries tanshin, decks, AGM notices and results, notices and the Fiscal 2026 securities report, but not every document type: no Corporate Governance Report, and the Fiscal 2025 securities report is missing from its 2025 list. One dated, typed page, not every type. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep across types: tanshin from FY2010 to Q1 FY2027 every quarter, decks from 2014, securities reports FY2022-FY2026, annual and integrated reports from 2016 to 2025, AGM notices from the 77th (2023), both MTPs, and IR News from 2020. Several years across document types. Source document →
O7Named English IR contact published4/5
A dedicated English 'IR Inquiry Form', its own page under the IR section, asking whether the sender is an individual investor, an analyst or institutional investor, media or other - linked from the IR top page itself, both in its Support menu and as an 'IR Inquiries' button. Every disclosure also carries a dedicated IR mailbox, irsr@fuji.co.jp, with the CFO Junichi Kano named as contact. Dedicated and immediately obvious from the English IR site. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
The latest two results are the same day in both languages. Q1 FY2027: English tanshin and deck both listed 3 Aug 2026, as the Japanese (EN tanshin PDF created 29 Jul, deck 3 Aug). FY2026: English tanshin and deck both 14 May 2026, as the Japanese (both EN PDFs created 14 May). Q3 FY2026 (10 Feb 2026) and Q2 (7 Nov 2025) English tanshin and deck carry the Japanese tanshin dates too. Same day every period. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Per-document lags (listing dates): Q1 FY2027 tanshin EN 3 Aug vs JA 3 Aug 2026 = 0. FY2026 tanshin 14 May vs 14 May = 0. AGM notice EN 3 Jun vs JA 3 Jun 2026 = 0 (EN PDF created 28 May). Corporate Governance Report EN and JA both '2026.07.01' (both PDFs created 1 Jul) = 0. Securities report EN listed 25 Jun 2026, the JA filing date (EN PDF created 17 Jun) = 0, though the English is the financial section only (see F4). Median 0 days. Source document →
R3Timely disclosures published in English4/5
The Japanese IR news for 15 Oct 2025-14 Oct 2026 has these timely disclosures beyond results: forecast revisions (10 Feb, 3 Aug 2026), senior management change (19 Mar), extraordinary loss / forecast-actual difference / dividend (14 May), RS treasury-share disposal and its payment completion (26 Jun, 24 Jul), and the outside director's resignation with partial withdrawal of the AGM proposal (22 Jun). Every one is in the English IR News on the same date, except the resignation notice: English listed 23 Jun and marked '[Delayed]'. The two index-inclusion notices (FTSE Blossom 19 Aug, SOMPO 17 Jun) and the media mentions are not in the English IR list, but they are not timely disclosures. All present, one a day late. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
No machine-translation notice on the rendered English pages: no translate banner or pop-up on the IR top, library or news pages. The English IR Website Important Notes calls the English pages 'reference translations of the original Japanese text' with accuracy not guaranteed and says the Japanese prevails. The corporate Disclaimer has a general accuracy disclaimer. The documents carry 'translated ... for reference purposes only ... the original shall prevail'. All of that is human-translation precedence language, which belongs to R5. Nothing presented as machine-translated. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The tanshin, the securities report, the AGM notice, the notice of resolutions and the withdrawal notice say 'the original shall prevail'. The results deck, the Corporate Governance Report and the integrated report carry no such 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 →
Mid-Term Business Plan 2026 capital and portfolio program
Strategy or target reset · In progress · Action announced 10 May 2024
FUJI targets FY2027 sales of ¥180bn, operating profit of ¥33bn and ROE of at least 11%, supported by portfolio restructuring and capital actions.
Timeline and sources (2 steps)
- 10 May 2024Plan announced FUJI disclosed growth, portfolio and capital-efficiency targets. Long-Term Vision and Mid-Term Business Plan 2026
- 31 March 2026 · announced 14 May 2026Second-year review The ROE target was raised to 11% or higher and cross-shareholding reductions exceeded plan. Long-Term Vision and Mid-Term Business Plan 2026 · Corporate Governance
What management said it would do
FUJI targets FY2027 sales of ¥180bn, operating profit of ¥33bn and ROE of at least 11% while restructuring its portfolio.
From the company’s own disclosure · Long-Term Vision and Mid-Term Business Plan 2026
What it actually did, and when
By March 2026, cross-shareholding reductions had generated ¥8bn, above the ¥7bn plan objective.
Partly disclosed — a gap remains · Corporate Governance
What it disclosed about the economics
FUJI recognizes a roughly 9–10% cost of equity, keeps equity near ¥220bn and contemplates ¥40–50bn-scale M&A.
Partly disclosed — a gap remains · FUJI Integrated Report 2025
What has happened since
The final FY2027 result is not due.
Partly disclosed — a gap remains · Long-Term Vision and Mid-Term Business Plan 2026
The question this leaves open
Investor question: What return will M&A and portfolio actions add above the cost of equity? IR preparation: reconcile equity, proceeds, investment and per-share returns.
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
FUJI combines profit recovery, potential ¥40–50bn M&A and shareholder returns while keeping equity near ¥220bn.
Capital structure
The company uses a roughly ¥220bn equity guideline and leverage as needed.
Governance of capital decisions
The board reviews cross-shareholdings and the company generated ¥8bn by March 2026 against a ¥7bn plan-period objective.
Preliminary and not scored: a selected-source reading, reviewed 28 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 (Mitsubishi UFJ Trust and Banking) 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 company-wide part uses operating profit and ROE with no weights between them.
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.