Nomura Micro Science Co., Ltd.
Cite as: Japan IR Index, Nomura Micro Science Co., Ltd. (6254), 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.
Strengths
- S7 Targets compared with actual results 5/5The English TTT-26 plan sets the previous plan’s sales and operating-margin targets against results, and explains why they were beaten a year early.
- R1 Japanese / English publication timing 5/5For the latest two results, the English results summary and supplementary materials came out the same day as the Japanese.
Improvement considerations
Suggestions drawn from the research, separate from the recorded scores.
Where to start
Chosen from this company's lowest answers, easiest first. A quick fix uses material the company already has; a translation fix is usually met by translating a Japanese document (our note says whether this company has one). Questions that need a budget or a board decision are left out. Suggestions drawn from the research, separate from the scores.
F6 Multi-year financial data file (Excel or CSV) downloadable in English 0/5 Quick fix
Post the financial figures the company already publishes as an Excel or CSV file with English labels.
G6 Shareholder vote results disclosed in English 0/5 Quick fix
Publish the vote counts from the Japanese extraordinary report in English.
O7 Named English IR contact published 2/5 Quick fix
Link a dedicated IR contact (form, address or e-mail) from the English IR section.
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.
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 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 | 27 of 39 |
| Same size band (¥100–500bn) | 77.1 | 41 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, 24 scored 3 or more and 7 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, 7 August 2026, the same day as the Japanese tanshin: 14 English pages against 13, with the notes on segment information intact. Every quarter back to the half year of FY2025 is in the English IR news. Source document →
F2English results summary is a full translation, not an excerpt5/5
The latest English tanshin, Consolidated Financial Results for the Three Months Ended June 30, 2026 (7 Aug 2026), has 14 pages against the Japanese 13. It has the summary pages, the qualitative overview with results by each of the six geographic segments, financial position, the forecast statement, the balance sheet, income and comprehensive income statements, and every note the Japanese carries (special accounting methods, segment information for both years, equity, going concern, cash flow, subsequent events). The FY March 2026 tanshin (14 May 2026) has 20 English pages against 21 Japanese, with the same index, including the cash-flow statement, the future outlook and the full segment note. The whole tanshin. Source document →
F3Financial statements including notes available in English5/5
The Q1 FY2026 English tanshin carries the condensed quarterly balance sheet and the income and comprehensive income statements. It also has the notes the Japanese has: segment tables for both years, tax-expense method and going concern. The Japanese quarterly tanshin has no cash-flow statement either. The FY March 2026 English tanshin has full statements, including changes in equity and cash flows, plus the segment note with assets, liabilities, depreciation and capex. Full statements and notes for the latest period. Source document →
F4Annual securities report available in English in any form0/5
The English IR section is IR News, Financial Highlights and a Disclaimer. No securities report in English under any name; the Japanese IR library carries the 2026年3月期 有価証券報告書 (23 June 2026).
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are six geographic reportable segments: Japan, Korea, China, Taiwan, United States and Others. Each English tanshin gives sales and segment profit for each one, for example Q1 FY2026 Taiwan sales ¥1,731m and profit ¥188m, along with a narrative per segment. The FY March 2026 note states the basis: regional segments built on design, construction and sales systems, each subsidiary an independent management unit. The method is stated and held constant. The decks add sales by business (water treatment systems, maintenance, other) and by industry. Sales and profit by segment every period, definitions stated. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
There is no Excel or CSV anywhere on the English IR site. Financial Highlights (Earnings, Financial Position, Cash Flow, Dividends) is a set of Pronexus HTML charts and tables covering FY3/23 to FY3/27 by quarter, with no download link. The IR News and IR top have PDFs only. No downloadable data file.
F7Guidance disclosed in English with the basis explained5/5
The FY March 2026 English tanshin (14 May 2026) gives the FY3/27 forecast with a first-half split: sales ¥97.0bn, OP ¥16.0bn, net ¥11.1bn, EPS ¥289.21. Its outlook section explains the basis: AI-driven DRAM and advanced-logic investment, pharma investment, an orders forecast of ¥164,780m from large semiconductor projects, and the progress of projects already received. The English results deck (22 May 2026, pp14-19) adds the market view (SEMI equipment sales and pharma spending charts) and forecasts by segment: orders and sales by business and by region, half-yearly margins, and an OP bridge. There is no FX assumption. Revisions are explained in English: the 6 Nov 2025 interim forecast revision gives the reasons (faster US and Japan project progress, China delays, cost cuts), and the deck sets FY3/26 against the initial plan with the variances explained. Two of the three assumption types, plus 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 7 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 is Mid-term business plan TTT-26, 13 English pages against 13 Japanese, both listed 14 Nov 2023 (English PDF created 20 Nov 2023). It sets FY3/2027 targets (sales ¥101bn, OP ¥14.6bn, OP margin 14.5%, ROE 25%+, ROIC 22%+) and FY3/2031 long-term targets (¥120bn, ¥19.2bn, 16%, 30%+, 25%+), plus a 30% payout, GHG -25% by 2030 and Scope 3 -15%. There has been no revision: the May 2026 English deck restates the same targets for FY2026 as the final year. The current plan in English, complete. Source document →
S2IR presentations published in English5/5
The English IR news mirrors the Japanese item for item: a supplementary-materials deck for every quarter (Q1 FY2026, 4 pages against 4) and the briefing deck for each full-year and interim briefing, including the revised FY March 2026 deck. The Japanese side publishes nothing further. Source document →
S3English equity-story or investment-highlights page4/5
There is no 'why invest' page. The English Briefing Materials for Individual Investors (22 Nov 2024, 34 pp, also the latest Japanese individual-investor deck) has a dedicated 'Strengths and features' slide (p17). It covers specialisation in ultrapure water since 1974, early entry into Korea and Taiwan in the 1980s, response to purity, environmental and lead-time needs, and extension into functional water and wastewater reclamation. Nearby slides give the sales mix (semiconductors 90.4%). The site's 'Comprehensive Ability as a Company' page describes technology, sales and support capability without figures. Dedicated, specific, mostly qualitative. Source document →
S4Growth drivers identified and quantified in English5/5
The drivers are named with numbers attached. The TTT-26 English plan has the semiconductor market at ¥75tn in 2025 and ¥100tn by 2030 (CAGR 7.2%), more ultrapure water used as processes shrink, and sales CAGR 11.6% to ¥101bn. The individual-investor deck charts UPW use per cm² by node. The May 2026 English deck charts SEMI equipment sales and prescription and biologic drug spending, and forecasts FY3/27 orders of ¥164.8bn and sales by region and business: water treatment systems, maintenance (+20% YoY) and new Taiwan, Korea and Japan mega-projects. Named drivers, quantified. Source document →
S5Results-briefing transcripts or Q&A published in English0/5
There is no transcript or Q&A in English: the IR News carries only decks, supplementary materials and tanshin. The Japanese side has none either. The 決算説明資料 library page holds only the 決算説明会資料 and 決算補足資料, and the IR News has no 質疑応答 or transcript. The Japanese FAQ is a general IR FAQ, not briefing Q&A. Neither language publishes a Q&A.
S6Integrated or annual report available in English0/5
No integrated or annual report in English. The company publishes none in Japanese either: the Japanese IR library's 'other materials' holds the medium-term plan only.
S7Progress against the previous plan, including misses, explained in English5/5
The English TTT-26 plan (p2, 'Reflecting on Previous Mid-term Business Plan (HiPES-2023)') sets the previous plan's FY3/2024 targets against actuals: sales ¥41.5bn target vs ¥49.5bn achieved, OP 12% (¥5bn+) vs 13.2% (¥6.5bn) achieved, a year ahead of schedule. It explains why: active semiconductor capital investment and favourable orders. A second page reviews the plan's non-financial measures (engineering, R&D, investment, people, SDGs). The previous plan's targets against actuals, with the reason. Source document →
G1Corporate governance report available in English0/5
The English site has no governance section and no corporate governance report; its IR section is news, highlights and a disclaimer.
G2Director biographies in English with tenure, expertise and independence5/5
The English Notice of the 57th AGM (posted 29 May 2026) gives dated career histories, shareholdings, board attendance and reasons for nomination for the six candidates: five internal directors and Audit and Supervisory Committee member Kataoka. Kataoka's independent-officer status and four-year tenure are stated, and the insiders' tenure can be read from the dated careers. The skills matrix (p11) covers all nine directors with an independence column. The three continuing ASC members (Shinobu Seshimo, Shinsuke Tanaka, Yumiko Niijima) were profiled when last elected, in the English Notice of the 56th AGM (May 2025, pp.10-12, https://ssl4.eir-parts.net/doc/6254/ir_material6/252956/00.pdf, listed in English IR News): dated careers, reasons for nomination, and outside / independent-officer status. Re-checked 23 Oct 2026 under v1.1.1: an AGM candidate list covers the board when every sitting director is a candidate or is profiled elsewhere in English on the company's site. Every director covered, so 5. Source document →
G3Board skills matrix published in English5/5
The English AGM notice (May 2026, p11) has a 'Skills Matrix of Directors' for all nine directors as composed after the 24 Jun 2026 AGM. It covers nine areas (management/strategy, technology/engineering, sales, global, finance/HR, legal/risk, ESG) plus nominating and remuneration committee membership and an independent-outside-director column. The current matrix in English. Source document →
G4Executive remuneration structure and its performance linkage explained in English2/5
Remuneration is only mentioned in English. The AGM notice's Proposal 4 (a retirement benefit for retiring director Senda) refers to the Remuneration Committee and to the remuneration-determination policy 'on pages 22 to 23 of the business report (in Japanese)'. There is no English business report, yuho or CG report. The English stock-option notices (15 Jul and 18 Aug 2026) cover executive officers who are not directors and employees. No structure, KPIs or amounts in English. A mention. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 57th Annual General Meeting, posted in English IR news on 29 May 2026 for a meeting on 24 June - 26 days - 12 pages with the reference documents for all four proposals, including each director candidate's reasons for nomination. Internet voting at evote.tr.mufg.jp is described with no Japanese-only caveat; the Japanese-only labels attach to the posting websites for the materials, not the voting route. 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 English0/5
Nothing after the convocation notice in the English IR news: no notice of resolutions and no voting results.
G7Cross-shareholdings in English with reduction schedule and rationale0/5
There is nothing on cross-shareholdings in English. The English IR section has no governance page, CG report or yuho, and the AGM notice and tanshin do not address policy shareholdings. The disclosure exists only in the Japanese 有価証券報告書 and governance report.
O1English IR section reachable within two clicks of the English homepage5/5
On the English homepage (https://www.nomura-nms.co.jp/english/), the header item 'Investor Relations' links directly to /english/ir/, and the body and footer also link to the IR top and its sub-pages. One click. Source document →
O2English document links resolve to English documents5/5
We sampled 18 English IR News links across types and years, and all are English. Tanshin: Q1 FY26, H1 FY25, FY3/25, Q3 FY3/25. Decks: May 2026, Nov 2025, FY3/25, FY3/23. Supplementary Q2 FY25. AGM notice 56th. MTP TTT-26. Individual-investor deck Feb 2024. Timely disclosures: forecast revision 6 Nov 2025, stock options 22 Sep 2025 and 18 Aug 2026, loan notice 24 Jun 2026. XBRL Summary of Financial Results for 2013, 2016, 2020 and Q3 FY3/25, with only stray CJK characters in decks and XBRL. One link is the external Shared Research page (English). All English. Source document →
O3English IR archive free of dead links5/5
The same 18-document sample (see O2), from May 2013 to Aug 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 rendered their content in the browser: IR top (latest three items), IR News (a year selector from 2013 to 2026 that loads each year's list), Financial Highlights with its four Pronexus sub-pages (charts and quarterly tables render), and Disclaimer. Stock Price Information is an external Bloomberg link. We found no empty lists or failed widgets. Every page renders. Re-checked 23 Oct 2026 after the independent audit saw an empty IR News list on 20 Oct: the list renders (FY2026 items from 14 May to 18 Aug 2026, and earlier years from the selector). Source document →
O5Single page listing all English IR documents by date and type4/5
Every English IR document (tanshin, decks, supplements, AGM notices, MTP, timely disclosures, analyst report) sits on one IR News page, dated and filtered by year. There are no type labels or type filters: the Japanese IR News tags each item 短信 / IR資料 / Press / 有報, and the English does not. One dated list, untyped. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The English IR News runs from 2013 to Oct 2026. It has XBRL results summaries from Feb 2013, full English tanshin from 2022, results decks from 2022, AGM notices from the 53rd (2022), the TTT-26 plan (2023), individual-investor decks (2024) and timely disclosures from 2025. That is deeper than the Japanese IR News, which goes back to 2022. Several years across document types. Source document →
O7Named English IR contact published2/5
Named in the tanshin header - Shiro Nishimura, Director, Executive Officer, General Manager of Management Head Office, +81-46-228-5195. The English site's only contact is a general 'Contact Us' form (name, company, e-mail, question) with no IR route or category, and the IR section links to none. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
The latest two results are the same day in both languages. Q1 FY2026: English tanshin and supplementary materials listed 7 Aug 2026, as was the Japanese (EN PDFs modified/created 7 Aug); no briefing that quarter. FY March 2026: tanshin listed 14 May 2026 in both (EN PDF created 13 May); supplementary 22 May in both (both PDFs created 20 May); results deck 22 May in both, both since replaced by the 16 Jun revision (both PDFs created 18 Jun). Caveat: the English H1 FY2026 deck is listed 17 Nov 2025 but its PDF was created 26 Nov, and the English Q2/Q3 FY2025 supplements were re-created 30 Mar 2026. Both could be replacements. Same day for the periods read. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Per-document lags, from listing dates: Q1 FY26 tanshin EN 7 Aug vs JA 7 Aug 2026 = 0. FY3/26 tanshin 14 May vs 14 May = 0. AGM notice 29 May vs 29 May 2026 = 0 (EN PDF created 25 May). Corporate Governance Report: no English, counted as >90. Yuho (JA 23 Jun 2026): no English, counted as >90. Median 0 days. Source document →
R3Timely disclosures published in English5/5
The Japanese IR News for 15 Oct 2025 to 15 Oct 2026 has eight timely disclosures ('Press'). They are: interim forecast revision (6 Nov 2025), loan repayment date changes (13 Feb and 24 Jun 2026), year-end dividend forecast revision (14 May), dividends of surplus (20 May), tanshin correction (16 Jun), stock option issuance (15 Jul) and stock option terms fixed (18 Aug). Each has an English counterpart in the English IR News on the same date. All, same day. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
There is no machine-translation notice on the rendered English pages. There is no translate widget or banner, only a cookie notice. The English Disclaimer page is a general accuracy and forward-looking 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 and the AGM notice say 'the original shall prevail'. The quarterly supplementary materials and the briefing decks 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 →
Global ultrapure-water growth and capital-return plan
Strategy or target reset · In progress · Plan announced 14 November 2023
Nomura Micro Science set FY2026 growth and return goals and expanded toward U.S., Southeast Asian and Indian semiconductor projects.
Timeline and sources (1 step)
- 14 November 2023Plan announced Nomura Micro Science set FY2026 growth and return goals and expanded toward U.S., Southeast Asian and Indian semiconductor projects. Medium-Term Management Plan / Other Materials
What management said it would do
Management targets ¥101bn sales, ¥14.6bn operating profit, ROE above 25% and ROIC above 22% by FY2026.
From the company’s own disclosure · Medium-Term Management Plan / Other Materials
What it actually did, and when
The company has expanded its U.S. operations and established Singapore operations; final plan outcomes remain pending.
Partly disclosed — a gap remains · Medium-Term Management Plan / Other Materials · Notice of the 57th Ordinary General Meeting of Shareholders
What it disclosed about the economics
TTT-26 uses explicit ROE and ROIC targets but provides less project-level capital and downside detail.
Partly disclosed — a gap remains · Medium-Term Management Plan / Other Materials · Notice of the 57th Ordinary General Meeting of Shareholders
What has happened since
The FY2026 result is not due.
Partly disclosed — a gap remains · Medium-Term Management Plan / Other Materials
The question this leaves open
Investor question: What working capital and execution risk accompany the global project pipeline? IR preparation: publish order conversion, cash use, project margins and ROIC.
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
Nomura Micro Science is expanding ultrapure-water engineering capacity and geographic reach to serve globally distributed semiconductor investment.
Capital structure
TTT-26 includes a shareholder-return and capital-efficiency framework; the selected official sources provide limited quantified liquidity and leverage guardrails.
Governance of capital decisions
Management publishes sales, operating-profit, ROE and ROIC goals and reports progress through annual shareholder materials.
Preliminary and not scored: a selected-source reading, reviewed 29 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 23 October 2026 · G2: 4 → 5. Under v1.1.1 an AGM candidate list covers the board when every other director is profiled in English elsewhere. The three continuing Audit and Supervisory Committee members are profiled in last year's English AGM notice.
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.