DMG MORI CO., LTD.
Cite as: Japan IR Index, DMG MORI CO., LTD. (6141), 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.
G6 Shareholder vote results disclosed in English 0/5 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.
G1 Corporate governance report available in English 3/5 Translation
Publish the corporate governance report filed with TSE in English.
English disclosure assessment
Compared with peers
| Peer group | Median | This company |
|---|---|---|
| Same sector (Machinery) | 76.4 | 15 of 39 |
| Same size band (¥100–500bn) | 77.1 | 15 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, 30 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 Six months ended June 30, 2026 (IFRS), 4 August 2026, the same day as the Japanese tanshin: 18 English pages against 15 Japanese, with the segment note (segment revenues and income by reportable segment) intact. Source document →
F2English results summary is a full translation, not an excerpt5/5
The latest English tanshin, Consolidated Financial Results for the Six months ended June 30, 2026 (IFRS, 4 Aug 2026), is 18 pages against the Japanese 15. The table of contents matches the Japanese section for section: the summary pages (results, dividends, forecast with FX assumption), the qualitative overview of results, financial position and forecasts, all five interim statements, the going-concern note, and the notes (reporting entity, basis of preparation, segment information, additional information on the sixth perpetual subordinated bonds, and subsequent events). The FY2025 tanshin is 21 EN pages to 18 JA, and Q1 FY2026 is 16 to 14. Whole translation. Source document →
F3Financial statements including notes available in English5/5
The H1 FY2026 English tanshin carries the full interim statements (financial position, P&L, comprehensive income, changes in equity, cash flows) with the same notes as the Japanese, including the segment note. The full-year statements with complete IFRS notes and the auditor's report are in the 121-page English 'Consolidated Financial Statements for the Fiscal Year 2025'. Full statements and notes for the latest period. Source document →
F4Annual securities report available in English in any form3/5
Filed under 'Securities Reports' is 'Consolidated Financial Statements for the Fiscal Year 2025 ended December 31, 2025', 121 pages: the IFRS statements, notes and the independent auditor's report - current, but the financial part only, with none of the securities report's narrative sections. Source document →
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are two reportable segments, Machine Tools and Industrial Services. Each English tanshin gives external and inter-segment revenue and segment income for both segments, plus adjustments (H1 FY2026: segment income 3,291 and 15,733, in JPY m). The note states the basis: segments are by products and services, are not aggregated, and segment income = operating profit + equity-method profit. This is held constant across Q1, H1 and FY. The deck adds orders by machine/MRO/group companies and by region. Definitions stated and held constant, every period. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
No Excel or CSV anywhere on the English IR site. We searched for xls/csv/excel/data links on IR top, IR Library, Financial Results (FY2015-FY2026), Securities Reports, Integrated Report, Financial Information (Business Results, Financial Highlights, Cash Flow) and Stock Information. What exists instead: chart images of five years of orders, sales, OP and net profit on the Business Results page, and a 7-page PDF 'Financial Data' section of Integrated Report 2025.
F7Guidance disclosed in English with the basis explained5/5
The H1 FY2026 English tanshin gives the revised FY2026 forecast (sales JPY 580bn, OP 30bn, net 15.5bn, EPS 93.26) with its FX assumption (JPY 154.1/USD, 182.3/EUR). It also tabulates the forecast against the 1 May version and explains the revision: strong global orders and yen depreciation against the euro. The same-day deck adds an order forecast (raised 580 to 630bn, initial 540bn), EBITDA, capex, R&D and D&A forecasts, a 2H FX assumption (150/USD, 180/EUR), and a market view (end-market demand by industry, VDW global and regional machine-tool market outlook for 2026e-2027e, JMTBA outlook). A separate English 'Announcement of Revision of Financial Forecast' was issued on 1 May and on 4 Aug. Forecast with FX and market-view assumptions, revisions explained. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English results for the six months to 30 June 2026 published 4 August 2026, the same period and day as the Japanese filing. Source document →
S1Medium-term management plan in English with numerical targets5/5
The current plan's quantified targets are in the English results deck (H1 FY2026, 4 Aug 2026, same day and page count as the Japanese, 26 pp), 'Financial Targets' p22. FY2026E/FY2027/FY2028 targets cover orders (630/665/700bn), sales (580/630/680bn), EBIT and margin (30.0/51.0/68.5bn, up to 10.1%), EAT, DPS (105/110/120), ROE (>4/>8/>10%), equity ratio, net debt and D/E. 'Financial Targets by Segment' gives FY2028 order intake by BX/MX/MRO/group companies, and there is a 2026-2028 capital allocation. The English Medium-term Business Plan page lists the 2026/2027 focus activities qualitatively, the same as the Japanese page. As complete as the Japanese. Source document →
S2IR presentations published in English5/5
Every quarter's English set mirrors the Japanese one item for item: tanshin, IR Announcement deck (H1 FY2026: 26 pages against 26), financial results release, and the results meeting on demand. Nothing on the Japanese side lacks an English counterpart. Source document →
S3English equity-story or investment-highlights page5/5
Integrated Report 2025 (English, 96 pp, FY Jan-Dec 2025) has dedicated 'DMG MORI at a Glance' and 'DMG MORI's Strengths: Direct sales and Direct MRO' sections. They quantify the business model: about 13,500 employees broken down by function (about 2,200 MRO engineers, 1,100 application engineers, 1,700 R&D), 18 production plants, 128 sales/MRO locations, and segment and group-company figures. The results deck repeats it as 'Sustainable Growth Foundation' (300k machines in operation, 150k customers, 4 parts centres). Dedicated section with quantified strengths. Source document →
S4Growth drivers identified and quantified in English5/5
The H1 FY2026 English deck names the growth drivers and puts numbers on them. Growth industries (aerospace, space, defence, semiconductors, medical, power/energy) are about 70% of JPY 335.2bn H1 orders. Product mix is 85% MX machines. Semiconductor-related group companies target JPY 50bn of order intake by 2030 (Magnescale ~20 to ~30bn, SAKI ~10 to ~20bn). MRO/spare parts/engineering orders rise from 125.9 to 155bn by FY2028. Regional market outlooks with CAGRs are sourced from VDW (India +13.6%, USA +7.4%). Named drivers with numbers attached. Source document →
S5Results-briefing transcripts or Q&A published in English0/5
No current briefing transcript or Q&A in English. The English Financial Results page offers, per quarter, the tanshin, the IR Announcement deck, the results release and an on-demand video. English Q&A PDFs (e.g. fy2020_3shihanki_ex_qa_e.pdf) stop at Q3 FY2020. The Japanese side has none either: its 決算報告 page has the same set (短信, 説明資料, リリース, 動画), and its Q&A PDFs also stop at Q3 FY2020.
S6Integrated or annual report available in English5/5
Integrated Report 2025, 96 pages in English, reporting period 1 January to 31 December 2025 - the latest closed year for a December year-end - published March 2026. Current and complete. Source document →
S7Progress against the previous plan, including misses, explained in English4/5
Integrated Report 2025 (English), CFO message 'Review of 2025': under the three-year medium-term plan through 2025 the company aimed for JPY 600bn sales and reached JPY 515bn. The shortfall is explained by geopolitical tensions, US tariffs, supply-chain disruption and restrained investment, plus continued hiring and investment ahead of 600bn. Operating profit and free cash flow are said to have 'fallen short of targets', but no figures are set against them. Net profit (24bn vs 7.7bn) and ROE 7.3% against a 15% 2030 target are discussed. Reconciliation with explanation, but numerically for the sales target only. Source document →
G1Corporate governance report available in English3/5
No Corporate Governance Report in English anywhere on the English site. What the English reader gets is the Corporate Governance page under Management Policy/Strategy: a prose account of the audit-and-supervisory-board structure, board composition and external directors, with no documents. Written for the site, in place of the filing. Source document →
G2Director biographies in English with tenure, expertise and independence4/5
The English Notice of Convocation of the 78th AGM (meeting 27 Mar 2026) covers all twelve directors, since all were up for election (six external). Each gets a dated career history, significant concurrent positions, shares held and board attendance, and each external candidate is labelled 'External / Independent' with an independence assessment. Integrated Report 2025 repeats the bios as of 27 Mar 2026. Tenure is not stated as years on the board and has to be read from the career lines (e.g. Mitachi, 'Mar. 2017 External Director of the Company'). All three elements, tenure thin. Source document →
G3Board skills matrix published in English5/5
A skills matrix for all candidates is in the English AGM notice (p6). Integrated Report 2025 has a 'Skill matrix of directors' as of 27 Mar 2026 covering all six internal and the external directors across Business Management, Global, Marketing, Engineering, Legal & Compliance and Finance & Accounting. The current matrix in English. Source document →
G4Executive remuneration structure and its performance linkage explained in English4/5
Integrated Report 2025 (English, p80) sets out the structure: fixed base pay, a single-year bonus and restricted stock. Base pay ratios are 4:2:1.4:1 by position. The bonus is capped at 1.5x base pay and based on consolidated sales revenue and operating profit plus individual divisional targets (the President on consolidated indicators only). There is a 50x-staff-salary cap, external directors get fixed pay only, and the compensation committee process is described. Amounts are given by type (directors JPY 752m: base 470, performance-linked 272, non-monetary 9) and per director (Mori JPY 300m). No weighting between the KPIs, or between the KPIs and the individual evaluation, is given. Structure, KPIs and amounts, without weights. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of Convocation of the 78th AGM in English (file dated 2 March 2026, notice dated 12 March, meeting 27 March) with the Reference Material for all three proposals, including the twelve director candidates. But the route it gives for viewing the materials and voting by QR code, Soukai Portal, is marked '(in Japanese)', and the TSE listing 'documents partly in Japanese'. The English reader can read every proposal and cannot use the route offered for acting on them. The English page does not show a posting date. Source document →
G6Shareholder vote results disclosed in English0/5
The English General Meeting page carries the 78th notice of convocation only. The Japanese page publishes a 決議ご通知 (notice of resolutions) for every meeting; none has an English counterpart.
G7Cross-shareholdings in English with reduction schedule and rationale3/5
There is no English Corporate Governance Report, so no principle 1-4 text. The English FY2025 Consolidated Financial Statements (note 'Equity instruments measured at FVTOCI', pp89-90) give the holdings: listed JPY 5,711m, unlisted 17,764m, and major issuers TULIP Interfaces, Aero Edge and nLIGHT. They give the rationale (held to maintain and strengthen business relationships) and disposals (JPY 121m derecognised in 2025 after 'reviewing the business relationship'). The governance page and integrated report have nothing on cross-shareholdings. There is no reduction target or schedule. Rationale and numbers, no target. Source document →
O1English IR section reachable within two clicks of the English homepage4/5
The 'English' link on www.dmgmori.co.jp leads to the English homepage https://www.dmgmori.co.jp/en/, a product site. Its 'Company / IR' link goes to the English corporate top (/corporate/en/), whose global nav has a visible 'INVESTOR RELATIONS' link to /corporate/en/ir/. That is two clicks. From the corporate English top it is one click, and the /en/ homepage also links individual IR documents in its news. Two clicks from the English homepage. Source document →
O2English document links resolve to English documents5/5
We sampled 20 English document links across types and years, and all are English. Tanshin: H1 FY26, Q1 FY26, FY25, Q3 FY25, Q1 FY2015 (40 pp). Decks: H1 FY26, Q1 FY26, FY25, FY23. Results release: H1 FY26. Q&A: Q3 FY2016, Q3 FY2020. Financial statements: 78yuho_e (FY25) and 74yuho (FY21, despite having no _e suffix). AGM notices: 78th and 68th. Integrated reports: 2025 and 2023, and the 2025 Financial Data section. Timely notices: 2 Oct 2026 domination agreement, 12 Aug 2026 new shares and international offering. All English. Source document →
O3English IR archive free of dead links5/5
The same 20-document sample (see O2), from 2015 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: IR top (latest five IR News), IR News 2026 and 2025, Financial Results (accordion by fiscal year), Securities Reports, Integrated Report, General Meeting, Business Results (five-year charts rendered), Cash Flow, IR Calendar, Basic Information, Stock Price/Rating (links out to JPX by design), FAQ, Medium-term Business Plan, Governance, and the results-meeting video page. The only overlay is a Usercentrics cookie banner. Every page renders. Source document →
O5Single page listing all English IR documents by date and type4/5
The English IR News page (by year, 2015-2026) is one dated list carrying every document type: tanshin, decks, results releases, results videos, timely disclosures, the AGM notice, the financial statements/yuho and shareholder-benefit notices. It is untyped. Separate type pages (Financial Results, Securities Reports, Integrated Report, General Meeting) are grouped by fiscal year with dates. One dated all-types list, untyped. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep across types: tanshin and decks every quarter from FY2015 to H1 FY2026, Q&A 2016-2020, results videos from 2023 Q1, IR News from 2015, AGM notices from the 68th (2016), financial statements FY2021-FY2025, and integrated reports from 2023. Several years across document types. Source document →
O7Named English IR contact published4/5
'Inquiry' is one of the six sections on the English IR top page, beside IR Library and Financial Information, and leads to a dedicated form titled 'Inquiries and requests for documents covering IR information' for 'inquiries regarding financial results, shareholder tours, dividends, and other business matters', with an investor FAQ beside it. The tanshin also names Keiichi Ota, Director, CFO, +81-(0)3-6758-5900. Dedicated and immediately obvious. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
H1 FY2026: the English tanshin, deck and release are listed 4 Aug 2026, the same as the Japanese (EN tanshin PDF created 4 Aug, 10:42; JA 10:39). The EN deck now served was created 18 Sep, but it is listed and announced in IR News on 4 Aug. Q1 FY2026: EN and JA tanshin and deck all listed and created 1 May 2026. FY2025: all four created and listed 10 Feb 2026. Tanshin and deck same day, every period checked. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Per-document lags, using IR News listing dates with PDF creation dates as support. H1 FY26 tanshin: JA 4 Aug, EN 4 Aug 2026 = 0. Q1 FY26 tanshin: 1 May vs 1 May = 0. AGM notice: JA 3 Mar, EN 3 Mar 2026 = 0 (EN PDF created 2 Mar). Corporate Governance Report: no English version, counted as >90. Yuho: JA 第78期有価証券報告書 30 Mar, EN 'Consolidated Financial Statements FY2025' 30 Mar 2026 = 0 (statements only; the median is 0 even if counted as untranslated). Median 0 days. Source document →
R3Timely disclosures published in English5/5
Japanese IR News from 15 Oct 2025 to 15 Oct 2026 has about 17 timely disclosures. They are the forecast revisions (30 Oct 2025, 1 May 2026, 4 Aug 2026), the buyback decision (30 Oct 2025) and its completion (14 Nov 2025), the RS plan change and the disposals (10 Feb, 18 Feb, 30 Apr 2026), the representative director change (10 Feb), the dividend (3 Mar), shareholder benefits (26 Feb, 30 Jul), the sixth perpetual bond (1 May, 29 May), the international offering (2 notices, 12 Aug) and the domination-agreement award (2 Oct). The English IR News has every one on the same date, and spot-checked PDFs were created that day. The only Japanese-only items are statutory or shareholder documents: 半期報告書, 決議ご通知, 中間株主通信. All, same day. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
The rendered English pages show no machine-translation banner or pop-up; the only overlay is the cookie consent. The English Terms of Use has a general accuracy disclaimer with no mention of machine translation. The documents carry the human-translation precedence line ('the latter shall prevail'), which is R5's. Nothing presented as machine-translated. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The tanshin, the AGM notice and the integrated report say the Japanese original 'shall prevail'; the financial statements are headed 'Convenience Translation'. The results deck and the results release carry 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 →
TARGET 2030 MX growth and capital-efficiency framework
Strategy or target reset · In progress · Plan announced 5 February 2025
DMG MORI reset its prior plan around FY2030 targets for ROE, margin, equity, debt and MX penetration.
Timeline and sources (2 steps)
- 5 February 2025TARGET 2030 announced DMG MORI disclosed long-term operating and balance-sheet targets. TARGET 2030
- 31 December 2025 · announced 30 April 2026Progress reported The integrated report discussed ROE, capital discipline and balance-sheet restructuring. DMG MORI Integrated Report 2025
What management said it would do
DMG MORI targets ROE above 15%, a 15% EBIT margin, equity above 50% and net interest-bearing debt near ¥100bn by FY2030.
From the company’s own disclosure · TARGET 2030
What it actually did, and when
The company reported 2025 progress and ongoing balance-sheet reform, but the endpoint is distant.
Partly disclosed — a gap remains · DMG MORI Integrated Report 2025
What it disclosed about the economics
Management links MX adoption, premium pricing, capital within depreciation, working capital and explicit debt guardrails.
Partly disclosed — a gap remains · TARGET 2030 · DMG MORI Integrated Report 2025
What has happened since
The FY2030 result is not due.
Partly disclosed — a gap remains · TARGET 2030
The question this leaves open
Investor question: What annual milestones show that MX converts into cash and ROE? IR preparation: publish adoption, margin, capital and debt bridges.
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
DMG MORI targets higher MX penetration, an average machine price above ¥80m and a 15% EBIT margin.
Capital structure
TARGET 2030 sets equity above 50%, net interest-bearing debt near ¥100bn and net D/E around 0.3.
Governance of capital decisions
Management revised the prior 2025 plan into a 2030 framework after cyclicality disrupted short-term targets.
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
No score on this page has changed since the change log started on 20 October 2026.
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.