J.E.T. Co., Ltd.
Cite as: Japan IR Index, J.E.T. Co., Ltd. (6228), 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.
G3 Board skills matrix published in English 0/5 Quick fix
Publish the skills matrix from the Japanese AGM notice in English.
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 2/5 Quick fix
Link a dedicated IR contact (form, address or e-mail) from the English IR section.
English disclosure assessment
Compared with peers
| Peer group | Median | This company |
|---|---|---|
| Same sector (Machinery) | 76.4 | 33 of 39 |
| Same size band (Under ¥100bn) | 51.4 | 15 of 25 |
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, 20 scored 3 or more and 10 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 English3/5
The H1 2026 English release, Consolidated Financial Results for the Six Months Ended June 30, 2026, posted 19 August 2026, is 8 pages against the Japanese 11 (14 August). It has the summary cover, forecasts, balance sheet, income, comprehensive-income and cash-flow statements. It drops the Japanese section 1 (qualitative information on results, financial position and forecasts) and the notes to the statements. Q3 2025 shows the same cut: 7 English pages against 11. The periods are also incomplete. English exists for Q1, H1 and Q3 2025 and for Q1 and H1 2026, but there is no English release for the FY2025 tanshin (Japanese 29 May 2026). A cut-down of every release, so 3. Source document →
F2English results summary is a full translation, not an excerpt3/5
The latest English tanshin, Consolidated Financial Results for the Six Months Ended June 30, 2026 (posted 19 August 2026, PDF created the same day), runs 8 pages against the Japanese 2026年12月期第２四半期（中間期）決算短信 of 11 pages (14 August 2026). The English keeps the summary cover (results, financial position, dividends, the FY2026 forecast and the cover notes) and the balance sheet, income, comprehensive-income and cash-flow statements. It drops the Japanese section 1, the qualitative review of results, financial position and forecasts, and the notes to the statements: the going-concern note and the segment note (which says the group has one reportable segment). The Q1 2026 English release is 6 pages and follows the same cut, and the FY2025 tanshin (Japanese 29 May 2026, 16 pages) has no English at all. A section of the document's own substance is cut, so 3. Source document →
F3Financial statements including notes available in English3/5
The English tanshin carry the statements without the notes. The H1 2026 release (19 August 2026) has a section headed 'Semi-annual Consolidated Financial Statements and Primary Notes', but it holds only the balance sheet, income and comprehensive-income statements and the cash-flow statement; the going-concern and segment notes in the Japanese are not there. The last English full-year release, FY2024 (7 February 2025, 10 pages), likewise has the four statements plus changes in equity and no notes. There is no English yuho or annual report, and the FY2025 year-end tanshin was never translated. Statements without notes, so 3. Source document →
F4Annual securities report available in English in any form0/5
The English IR site (IR News 2023-2026, Performance & Financial Information, FAQ) carries no securities report under any name. The FAQ says the Securities Reports are 'only Japanese'. The Japanese 半期報告書 (14 August 2026) has no English counterpart.
F5Segment revenue and profit disclosed in English, consistent definitions3/5
J.E.T. has one reportable segment, semiconductors. Only the Japanese tanshin say so: the note is cut from the English releases, which carry no breakdown of any kind. The English results decks give net sales by business line inside the semiconductor business, but only at the half and full year. The H1 2026 deck (25 August 2026, p15) splits ¥6,177m into batch-type ¥3,533m, single-wafer ¥836m and construction/parts ¥1,808m, alongside sales by region (pp16-17) and equipment sales by memory versus foundry customer (p18). There is no profit by line and no Q1 or Q3 English breakdown, because the Q1 and Q3 decks are Japanese only. Sales without profit, half and full year only, and the single-segment basis never stated in English, so 3. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
There is no Excel or CSV file on the English IR site. We checked IR top, IR News for 2023-2026, Performance & Financial Information (Operating Results, Financial Position, Cash Flows), Stock Information and FAQ for xls/csv/excel links. Performance & Financial Information is HTML tables only: quarterly cumulative sales, OP, ordinary profit, net profit and EPS, plus annual ROE, total and net assets, equity ratio, BPS and half/full-year cash flows for 2022/12-2026/12. The English library holds only tanshin and deck PDFs. No downloadable data file.
F7Guidance disclosed in English with the basis explained4/5
The FY2026 forecast is in English: net sales ¥15,443m (+5.3%), operating loss ¥75m, ordinary loss ¥162m, net loss ¥1,093m, EPS -¥83.27. It appears on the H1 2026 English tanshin cover (19 August 2026) and the deck (25 August 2026, pp14 and 21). The Japanese company set it at the half year, having withheld a forecast in the FY2025 tanshin. The deck gives part of the basis: a market-view page (p20) on memory price rises, hyperscaler demand, the Samsung/SK hynix 800-trillion-won 'Three Mega Projects' and record Japanese equipment sales. It also gives the drivers behind the forecast (p21): Korea sales push, a China recovery, US/Korean foundry start-ups completing in 2026, and cost cuts. There is no FX assumption and no segment forecast (single segment). The Japanese forecast revision of 30 January 2026, and the FY2025 tanshin's explanation for withholding a forecast, have no English. A forecast with part of the basis (the market view) and revisions not explained in English, so 4. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
The latest Japanese filing is the half year to 30 June 2026 (tanshin 14 August 2026). The English results for the same six months were posted 19 August 2026 (PDF created the same day), five days later. Same period. Source document →
S1Medium-term management plan in English with numerical targets5/5
There is no separate medium-term plan document in either language. The current quantified targets are on the 'Numerical Targets' page of the H1 2026 English deck (25 August 2026, p27): 2025 actual ¥13.88bn sales and -¥1.46bn OP; 2026 ¥15.4bn and -¥70m; 2027 ¥15.1bn sales, ¥110m OP and 0.7% margin; 2033 ¥50bn sales, ¥10bn OP and 20% margin. These sit with the restructuring strategy pages (pp23-25: short and medium-term strategy, area strategy, product strategy). We rendered the Japanese 数値目標 page (same deck, same day, 32 pages each) and it carries identical figures and the same note that the medium-term plan will be re-examined under the new management from September. The current targets are in English and as complete as the Japanese, so 5. The plan is provisional pending that re-examination. Source document →
S2IR presentations published in English3/5
English decks exist only at the half year and full year: Financial Results for the Six Months Ended June 30, 2026 (25 August 2026, 32 pages, the same day and page count as the Japanese 決算説明会資料), H1 2025 (25 August 2025), FY2024 (25 February 2025) and earlier. The Japanese side also publishes 決算説明資料 for Q1 and Q3 (2024: 10 May, 8 November; 2025: 9 May, 7 November), which have no English versions. Occasional rather than every period, so 3. Source document →
S3English equity-story or investment-highlights page4/5
There is no 'why invest' or investment-highlights page on the English IR site; the IR menu has Message from the President, Company Profile, Officer Profiles and Governance only. The English results decks carry dedicated strengths sections. The FY2023 deck (4 March 2024, p12) has 'Our Features and Strengths—Five Points', all qualitative: customer trust, an Asian network, subcontractor base, high-temperature/high-viscosity technology, and agility and customisability. The H1 2025 deck (25 August 2025, pp32-34) has 'Competitive Landscape and Differentiators' with batch and single-wafer market sizes, J.E.T.'s 14.3% batch-type share against Companies A and B, and the F-type batch tool's 14 chambers and 500 wafers/h. The current H1 2026 deck drops these sections. Dedicated and specific but mostly qualitative, and only in older decks, so 4. Source document →
S4Growth drivers identified and quantified in English4/5
The H1 2026 English deck names the drivers. By customer and area (p24): Samsung NAND phosphoric-acid share, SK hynix single-wafer, CXMT and YMTC in China, Rapidus in Japan via Eco3, Texas Instruments in North America and UMC in Taiwan. By product (p25): the BW3500 batch tool and the Eco3 single-wafer tool. Some are quantified. WFE market is shown at $104bn (2024) rising to $200bn (2028) from SEMI (p26). The Korean makers' 800-trillion-won domestic plant plan is cited (p20). Japan sales passed ¥1bn on Rapidus deliveries (p17), and the H1 2025 deck sized the batch and single-wafer markets with J.E.T.'s shares. No driver is tied to a number in the targets: no share goal, capacity or contribution to the 2027 or 2033 figures. Named, some quantified, so 4. Source document →
S5Results-briefing transcripts or Q&A published in English0/5
No results-briefing transcript or Q&A in English. The English IR News (2023-2026) lists only tanshin and decks. The Japanese side publishes none either. Its 決算説明資料 archive (FY2023 to H1 2026) holds decks only, その他IR資料 holds only the 2023 company presentation, and the IR News list has no 質疑応答 or 書き起こし. Neither language publishes one.
S6Integrated or annual report available in English0/5
No integrated or annual report in English. The English IR menu and IR News have results and decks only, and jet-wet.com/sustainability/ returns 404. The Japanese その他IR資料 holds only a 2023 company presentation.
S7Progress against the previous plan, including misses, explained in English2/5
The previous targets were set in the FY2024 English deck (25 February 2025, p17): ¥27.5bn sales, ¥3bn OP and a 10.9% margin for 2027, and ¥50bn/¥10bn/20% for 2033. The H1 2025 English deck (25 August 2025, p19) replaced the 2027 and 2033 figures with 'Reexamination', with one sentence saying the targets were being reviewed after the forecast revisions. The H1 2026 deck (p27) puts new 2026/2027 numbers beside the 2025 actual. It never sets the abandoned ¥27.5bn/¥3bn against outcomes or explains the gap beyond the restatement and restructuring narrative. A mention without a target-versus-actual reconciliation, so 2. Source document →
G1Corporate governance report available in English3/5
No Corporate Governance Report in English. The English Corporate Information page says 'Corporate Governance - Posted in IR Information(JP)', and the Japanese filing (27 April 2026) is Japanese only. The English IR Corporate Governance page gives a short basic approach, an overview of the board / Audit & Supervisory Board structure with reasons and a structure chart. That is a site narrative in place of the filing. Source document →
G2Director biographies in English with tenure, expertise and independence3/5
There is no English AGM notice. The English Officer Profiles page (jet-wet.com/ir/executive/) gives dated career histories, with the month each joined the board ('Director of the Company (to present)'). It covers Cho In Soo (President from September 2026), Hiroyuki Hirai, Hirohisa Tabuchi, Tamotsu Ono, Tetsuya Okuda and the three auditors. Independence is not stated: the page says only that Tabuchi, Ono and Okuda 'are Outside Directors', with no independent-officer designation. The board on the page is also out of date. The English Company Profile and Corporate Governance, Officers pages list Minoru Fukao as an outside director instead of Ono, and Fukao has no English biography. Career and tenure but no independence, and not every director, so 3. Source document →
G3Board skills matrix published in English0/5
No board skills matrix in English. We checked the English Officer Profiles, Company Profile, Corporate Governance (IR) and Corporate Governance, Officers pages, the 2023-2026 English decks and the English IR News. The site has no English AGM notice, governance report or integrated report that might carry one.
G4Executive remuneration structure and its performance linkage explained in English0/5
Nothing on executive remuneration in English. The English IR Corporate Governance page covers only the basic approach and board/Audit & Supervisory Board structure. There is no English governance report, yuho or AGM notice, and the English decks do not discuss pay. The Japanese 31 July 2025 notice that included a cut in officers' remuneration has no English version.
G5AGM notice in English with sufficient lead time to vote0/5
No English convocation notice. The English IR News (2023-2026) and the English IR menu have no shareholder-meeting page. The Japanese 株主総会関連資料 lists the 第17回定時株主総会 notice (6 March 2026), its 継続会 notice (23 June 2026) and the [訂正] 臨時株主総会 notice (4 September 2026), all Japanese only.
G6Shareholder vote results disclosed in English0/5
No English voting results or notice of resolutions on the English IR News or IR pages. The Japanese meeting page carries the notices only.
G7Cross-shareholdings in English with reduction schedule and rationale0/5
Nothing on cross-shareholdings in English. There is no English Corporate Governance Report (principle 1-4), yuho or integrated report, and the English IR Corporate Governance page and decks do not mention strategic shareholdings.
O1English IR section reachable within two clicks of the English homepage5/5
The English homepage (https://www.jet-wet.com/) has a visible 'IR Information' link in the header utility bar and an 'IR INFO' tile further down. Both go straight to https://www.jet-wet.com/ir/. One click. Source document →
O2English document links resolve to English documents5/5
We sampled all 16 document links on the English IR News list (2023-2026) and every one is English (no CJK text in any). The 11 tanshin were Q3 2023 (14 Nov 2023), FY2023, Q1/H1/Q3 2024, FY2024, Q1/H1/Q3 2025, and the [Delayed] Q1 and H1 2026 (19 Aug 2026). The 5 results decks were FY2023 (4 Mar 2024), H1 2024, FY2024, H1 2025 and H1 2026 (25 Aug 2026). The English site carries no other document types. All English, so 5. Source document →
O3English IR archive free of dead links5/5
We opened the same 16 English documents (see O2: 11 tanshin from Nov 2023 to Aug 2026 and 5 decks from Mar 2024 to Aug 2026) in the rendered browser. All are served from contents.xj-storage.jp and all opened with text (6-42 pages each). None was dead. Source document →
O4English IR pages render without blank JavaScript failures3/5
Most English IR pages render their content: IR top (latest five documents), IR News with its year selector, Message from the President, Company Profile, Officer Profiles, Corporate Governance (text and structure chart), Operating Results, Financial Position, Cash Flows (tables), Basic Stock Information, FAQ, Disclosure Policy and Disclaimer. The English IR Calendar (jet-wet.com/ir/calendar/) renders an empty body below its heading, even after waiting 5 seconds (screenshot taken). The Japanese IRカレンダー renders a (stale, 2025) schedule list. A section renders empty, so 3. Source document →
O5Single page listing all English IR documents by date and type4/5
The English IR News page is the whole English library: one dated list with a year selector (2023-2026), holding every English document the company publishes (tanshin and results decks). The items are not typed or filterable by type; the Japanese side has type tabs (適時開示, 決算短信, 法定開示, IR資料) and a separate library. One dated page, untyped, so 4. Source document →
O6English archive genuinely populated, not an unverifiable shell4/5
The English archive runs from the Q3 2023 tanshin (14 November 2023, just after the September 2023 listing) to August 2026: 11 tanshin and 5 results decks, three years, all live. It is only two document types and 16 items, with gaps where English was never produced: no FY2025 tanshin, no Q1/Q3 decks, and no notices, reports or timely disclosures. More than a year but thin across types. We took the floor of 4 over 5. Source document →
O7Named English IR contact published2/5
The English IR pages' CONTACT and the FAQ's 'contact us here' (contact/?req=3) both land on the site-wide Contact Us form. That form has no inquiry-type field and is described as for 'products, services, recruitment, etc.'. The IR category (IRについて) exists only on the Japanese form. The English tanshin names Tatsuya Okada, Executive Officer, Head of Corporate Management Division, +81-865(69)4080. General form with no IR category plus a document-header contact, so 2. Source document →
R1Earnings materials published in English simultaneously with Japanese3/5
Latest two results, both announced in Japanese on 14 August 2026 after the delay caused by the accounting irregularities. H1 2026: Japanese tanshin 14 August, English tanshin 19 August (PDF created 19 August), 5 days late; the deck was 25 August in both languages. Q1 2026: Japanese 14 August, English 19 August, 5 days late; there was no deck in either language. The FY2025 tanshin (Japanese 29 May 2026) has no English at all. Earlier periods (FY2024, Q1/H1/Q3 2025) had English tanshin on the Japanese day, but the Q1 and Q3 decks never had English. The latest periods are days late, so 3. Source document →
R2Median lag in days between Japanese and English statutory publication1/5
Per-document lags (listing dates, with English PDF creation dates matching). H1 2026 tanshin: JA 14 Aug 2026, EN 19 Aug 2026, 5 days. Q1 2026 tanshin: JA 14 Aug 2026, EN 19 Aug 2026, 5 days. AGM notice: the 第17回定時株主総会 notice (6 Mar 2026), its 継続会 notice (23 Jun 2026) and the [訂正] 臨時株主総会 notice (4 Sep 2026) have no English, counted as >90 days. Corporate Governance Report (JA 27 Apr 2026): no English, >90. Yuho (第17期, 29 May 2026): no English, >90. The median is >90 days, so 1. Source document →
R3Timely disclosures published in English0/5
No timely disclosures in English. Between 15 October 2025 and 15 October 2026 the Japanese IR News (which mirrors TDnet and also lists the company's English TDnet filings) carries about 40 non-results timely disclosures. They include the 30 Jan 2026 forecast revision, the results postponement and special investigation committee notices (Feb-May 2026), the 29 May forecast-versus-actual, restatement and special-loss notices, and the ICFR material weakness. They also include the TSE grace-period and penalty notice (19 Jun), recurrence prevention and director resignations (30 Jun), director nominations (24 Aug) and the representative director change (25 Sep). The English IR News and the TDnet-mirrored list hold English tanshin and decks only; none of these exists in English.
R4English disclosure free of machine-translation accuracy disclaimers5/5
Nothing on the English site or documents is presented as machine-translated. The rendered IR top, IR pages, Disclaimer, Privacy Policy and Contact pages carry no translation banner, pop-up or notice; the only third-party frame is reCAPTCHA on the contact form. The English Disclaimer covers forward-looking statements and accuracy only. The English tanshin carry the human-translation precedence line ('the original shall prevail'), which is R5's. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The English tanshin open with 'translated from the Japanese original for reference purposes only ... the original shall prevail' (H1 and Q1 2026, 19 August 2026). The English H1 2026 results deck (25 August 2026) carries no such statement. There is no English AGM notice to check. 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 →
Semiconductor equipment restructuring and subsidy-funding reset
Strategy or target reset · In progress · Plan or update announced 25 August 2026
The August presentation sets a current loss forecast and restructuring direction following accounting restatements; the subsidy withdrawal does not cancel construction.
Timeline and sources (1 step)
- 25 August 2026Plan or update announced The August presentation sets a current loss forecast and restructuring direction following accounting restatements; the subsidy withdrawal does not cancel construction. Financial Results for the Six Months Ended June 30, 2026
What management said it would do
The current annual forecast is ¥15.443bn sales and a ¥75m operating loss; early profitability is an ambition, not a reported outcome.
From the company’s own disclosure · Financial Results for the Six Months Ended June 30, 2026
What it actually did, and when
Half-year sales were ¥6.183bn. The issuer withdrew its subsidy but explicitly continues factory/demo-room construction with own funds.
Partly disclosed — a gap remains · Financial Results for the Six Months Ended June 30, 2026 · Withdrawal from approved growth-investment subsidy
What it disclosed about the economics
Selective orders, design reviews and insourcing support the turnaround rationale; return on the revised investment remains unverified.
Partly disclosed — a gap remains · Financial Results for the Six Months Ended June 30, 2026 · Withdrawal from approved growth-investment subsidy
What has happened since
Final FY2026 outcomes and effectiveness of the control reforms are not yet verified.
Partly disclosed — a gap remains · Financial Results for the Six Months Ended June 30, 2026 · Withdrawal from approved growth-investment subsidy
The question this leaves open
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
J.E.T. withdrew from the approved ¥870.764m subsidy while continuing the factory/demo-room works with its own funds; the restructuring plan focuses on selective orders and cost discipline.
Capital structure
Own funds replace the withdrawn subsidy. A complete revised project budget and liquidity headroom bridge is not verified in the selected sources.
Governance of capital decisions
The issuer reports accounting irregularities, restated prior results, management departures and stronger approval workflows. These remediation commitments do not yet establish operating effectiveness.
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
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.