Hirata Corporation
Cite as: Japan IR Index, Hirata Corporation (6258), 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.
O2 English document links resolve to English documents 3/5 Quick fix
Check every link on the English IR pages; label any that open a Japanese document, or link the English version.
O4 English IR pages render without blank JavaScript failures 3/5 Quick fix
Fix or replace the English page elements that load empty (lists, widgets, embedded frames).
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 | 19 of 39 |
| Same size band (¥100–500bn) | 77.1 | 24 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, 29 scored 3 or more and 3 found no qualifying English materials within the stated review scope. Read each score with its source and scope below.
Findings by question
F1Quarterly and full-year results summaries (tanshin) published in English5/5
Consolidated Financial Results for the Three Months Ended June 30, 2026, 7 August 2026, the same day as the Japanese: 15 English pages against 13, with the overview of results and financial position and the notes on segment information. Source document →
F2English results summary is a full translation, not an excerpt5/5
Q1 FY3/2027 tanshin, 7 Aug 2026. The English 'Consolidated Financial Results for the Three Months Ended June 30, 2026 (Under Japanese GAAP)' has 15 pages; the Japanese 2027年3月期 第1四半期決算短信 has 13. Both have the same parts: the summary pages; 1. Overview of operating results (results with a narrative for each of the three segments, financial position, forecast information); 2. the balance sheet, income and comprehensive income statements, and notes (change in accounting policy for inventory valuation, segment information with the revenue breakdown and reconciliation, shareholders' equity, going concern, cash-flow note); and 3. Supplementary information on production, orders and sales. The only Japanese part not in the English is the auditor's voluntary 期中レビュー報告書, which does not count. The FY3/2026 year-end English tanshin (14 May 2026) is 28 pages against 25 Japanese. The whole tanshin, so 5. Source document →
F3Financial statements including notes available in English5/5
The latest-quarter English tanshin (Q1 FY3/2027, 7 Aug 2026) has the full quarterly balance sheet and the income and comprehensive income statements. It also has the notes: change in inventory valuation method, segment information for both periods with revenue by timing of transfer and a reconciliation to operating profit, going concern, and depreciation in place of a cash-flow statement, which the Japanese quarterly also omits. The year-end English tanshin (14 May 2026, 28 pp) adds cash flows, changes in equity and the full note set. Full statements and notes for the latest period, so 5. Source document →
F4Annual securities report available in English in any form0/5
The English IR library's categories are presentations, the mid-term plan, financial statements (tanshin and decks), AGM and integrated report. No securities report in English under any name.
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are three reportable segments (Automotive-related, Semiconductor-related, Other automatic labor-saving equipment) plus an 'Other' segment. Every English tanshin gives external sales, intersegment sales and segment profit for each, with a reconciliation to operating profit. For example, Q1 FY3/2027: Semiconductor ¥13,510m sales and ¥1,742m profit; Automotive ¥9,721m and ¥2,021m. The year-end tanshin's note states how the segments are defined ('classified by product type, properties, sales market'), that segment profit is based on operating profit, and that intersegment transfers are at market prices. The 'Other' segment is defined in every quarter. The decks add segment orders, sales and margins. Every period, definitions stated, so 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
There is no downloadable data file. Financial Highlights (/en/ir/highlights) shows five-year bar charts as HTML images (orders, sales, operating income, net income, total assets, debt, margins). Financial/Non-financial Principal Data (/en/sustainability/data) is an HTML table for FY2014 onward (P&L, balance sheet, cash flows, EPS, DPS, ratios) with PNG charts. Neither page, and nothing in the IR library, links an .xls, .xlsx or .csv. HTML tables do not count.
F7Guidance disclosed in English with the basis explained5/5
The FY3/2027 forecast is in English: sales ¥100.0bn, OP ¥9.0bn, ordinary ¥8.9bn, net ¥6.5bn, EPS ¥212.34, dividend ¥75. Its basis is given. The year-end tanshin (14 May 2026, '(4) Future outlook') gives the market view: BEV investment slowing while ICE/HEV capex stays robust, data-centre-driven semiconductor demand, and energy, price and FX pressure on costs. The FY2025 deck (pp.13-15, same day) gives segment forecasts with drivers: Automotive ¥37bn (EV projects lost), Semiconductor ¥46bn (capacity and price pass-through), Other ¥14bn (logistics projects). It also has an OP bridge (sales +1,116, cost ratio +876, SG&A -1,308). The Q1 tanshin confirms the forecast is unchanged. Revisions are explained in English: the 14 Feb 2025 'Notice Regarding the Revision of the Full-year Earnings Forecast' gives the reasons for the cut, and the FY2025 deck explains the ¥5 dividend raise. There is no FX assumption, but there are two of the three assumption types (market view, segment forecasts) plus explained revisions, so 5. 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 targets4/5
Medium-Term Management Plan (FY2025-2027). The English edition is 34 pages, the same as the Japanese 34, and carries all the targets: FY2027 OP ¥10bn or more, sales CAGR 6-8%, ROE 9.3% or more, semiconductor CAGR 20% or more, ¥5bn sales in each new field, CCC reduced by 20%, and equity ratio 45-50%. The English is late: the Japanese went up on 9 May 2025 and the English on 30 May 2025 (IR news; PDF created 30 May), 21 days later. The FY2025 deck (14 May 2026, same day as the Japanese) restates the targets unchanged. Complete but late, so 4. Source document →
S2IR presentations published in English5/5
The Financial Results Explanatory Materials for every quarter in English, same day as the Japanese (Q1 FY2026: 27 pages against 27), and a Q&A Summary of the Q1 briefing posted in English on 12 August 2026, the day of the briefing. 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 Corporate 'Features' page is generic prose. The English Integrated Report 2025 has 'Hirata's Competitive Advantage' (p.6: engineering, manufacturing and support capabilities, qualitative) and 'Hirata by Numbers' (p.10), an at-a-glance spread with figures: over 40 countries, over 1,000 customers, sales ¥88.5bn, OP ¥6.9bn, ROE 7.2%, 586 patents, equity ratio 52.7%, payout 25.9%. It is a dedicated section, but the strengths are qualitative and the figures describe scale, so 4. (Wording revised 21 Oct 2026; the score does not rest on the section sitting inside the report.) Source document →
S4Growth drivers identified and quantified in English5/5
The drivers are named and quantified in English. The MTP (pp.13, 30-31) sets semiconductor sales to grow at a CAGR of 20% or more to FY2027, against SEMI's market forecast (US$599bn to US$1tn by 2030, 8.9% CAGR). It targets ¥5bn sales in each new field, gives EV and ICE market forecasts (BloombergNEF, Mordor), and sets a 20% CCC reduction. The FY2025 deck gives the FY2026 forecast by segment (Semiconductor +¥9.9bn to ¥46bn on capacity and price pass-through; Automotive -¥6.5bn on lost EV projects) and the OP bridge. Named drivers with numbers attached, so 5. Source document →
S5Results-briefing transcripts or Q&A published in English4/5
Both languages publish a Q&A summary for every quarterly briefing. Japanese IR news against English IR news: FY2024 13 May 2025 / 13 May 2025; Q1 FY2025 13 Aug / 13 Aug 2025; Q2 14 Nov / 14 Nov 2025; Q3 18 Feb / 19 Feb 2026; FY2025 19 May / 19 May 2026; Q1 FY2026 12 Aug / 12 Aug 2026. The English Q3 FY2025 summary arrived a day after the Japanese. Its current PDF (4 pp, dated February 19, 2026 on its face) has a creation date of 19 May 2026, so it was replaced later. The summaries are in IR news only, not in the IR library (except one from 2023). Every period, one late, so 4 under the review ruling. Source document →
S6Integrated or annual report available in English4/5
Integrated Report 2025, 50 pages in English (February 2026), target period 'Fiscal 2024 (from April 2024 to March 2025)'. The Japanese edition is the same 2025 one, so the English is not behind the Japanese; the edition is one year behind the closed fiscal year, which is how the cohort has scored it. Source document →
S7Progress against the previous plan, including misses, explained in English5/5
The English MTP (30 May 2025), p.7 'Quantitative Status of Achievement for Previous Medium-Term Management Plan (FY2022-2024)', sets FY2021 results, FY2024 results and FY2024 targets side by side for each segment and in total. Sales were ¥88.5bn against a ¥100bn target and OP ¥6.9bn against ¥10bn. Automotive sales were ¥431 (100m yen) against 400, Semiconductor ¥302 against 400. ROE was 7.2% against 11%. Each variance is explained (North American demand; late price pass-through on semiconductor costs; customer capex changes; higher fixed costs). Pp.2 and 8 add the qualitative review. The FY2025 deck (p.18) also tracks the current plan's targets against actuals. Previous targets against actuals with the variances explained, so 5. Source document →
G1Corporate governance report available in English3/5
No Corporate Governance Report in English. The English site's governance content is 'Hirata's Corporate Governance' under Sustainability > ESG: a basic stance and a timeline of governance changes, with no documents. Written for the site in place of the filing. Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English notice of the 75th AGM (24 Jun 2026) profiles all eight candidates for director who are not Audit and Supervisory Committee members. Each has a dated career history (giving years on the board), shares held and reasons for nomination. The three outside candidates are marked 'Outside / Independent officer' with their tenure stated (Ogawa five years, Ueda four, Tadakuma two). The four Audit and Supervisory Committee members (Otsuka, Imamura, Endo, Okabe) were not up for election. Their profiles (expertise, 'since 2015/2018/2022/2025', independence, attendance) are in the English Integrated Report 2025's List of Officers, as at 1 Sep 2025. Re-checked 21 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. The four Audit and Supervisory Committee members are profiled (expertise, appointment year, independence, attendance) in the English Integrated Report 2025's List of Officers. Every director covered, so 5. Source document →
G3Board skills matrix published in English5/5
The English 75th AGM notice (p.10) has a 'Skill matrix of the Company's Directors' as it would stand after the meeting. It maps all twelve directors, including the four Audit and Supervisory Committee members, against seven skills: corporate management, industry knowledge, technology and R&D, global, risk management, finance and accounting, and ESG. Outside directors are marked. The current matrix in English, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English4/5
The English governance page (Sustainability > ESG > Corporate Governance, 'Executive Compensation') sets out the structure. Executive directors get basic pay, bonus and stock compensation in a ratio of about 1:0.5:0.3 at target, shown in a chart; outside directors get basic pay only. The KPIs: the bonus is tied to achievement of the consolidated ROE target; stock points depend on position, tenure, consolidated ROE and operating profit margin targets, and ESG indicator targets. The amounts are in a fiscal 2024 table by director class and pay type (thousands of yen): executive directors ¥244,784 in total (basic 150,200, stock 31,486, bonus 63,098; 6 people), internal A&SC member 17,000, outside directors 68,100. The weights among ROE, margin and ESG within the stock plan are not given, and the table is for FY2024, not FY2025. Structure, KPIs and amounts by pay type, but KPI weights missing, so 4. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 75th Annual General Meeting in English, uploaded 2 June 2026 for a meeting on 24 June - 22 days - with the Reference Documents for the single proposal, the election of eight directors, including every candidate's reasons for nomination. The Japanese-only labels attach to the posting websites, not to a voting route. Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the Japanese notice names the voting website, www.web54.net (Sumitomo Mitsui Trust Bank), which 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
The English library's Annual General Meeting category and IR news carry nothing after the notice: no notice of resolutions and no voting results.
G7Cross-shareholdings in English with reduction schedule and rationale2/5
The English governance page's 'Cross-shareholdings' section has only the basic policy: hold only stocks that enhance corporate value, review benefits and risks at the board, consider selling low-rationality holdings, and voting-rights criteria. The English MTP and Integrated Report 2025 (CFO message, pp.23-24) add 'Sell policy shareholdings (continue to consider selling in line with shrinkage policy)' as a balance-sheet measure. There is no count, no amount, no target and no progress figure in English; the yuho and CG report that carry them are Japanese only. Boilerplate policy only, so 2. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
The English homepage (hirata.co.jp/en/) has a visible 'IR info' card link in its 'About' section that goes straight to /en/ir/. The global header's 'IR Info' also opens a menu linking /en/ir/. One click, so 5. Source document →
O2English document links resolve to English documents3/5
We sampled 22 English links across types and years. Tanshin: Q1 FY3/2027 (00003000/00003004), FY3/2026, H1 FY3/2026, FY3/2023, FY3/2022. Decks: Q1 FY3/2027, H1 and Q3 FY3/2026 (image-based, checked by screenshot), FY3/2019, FY3/2015, FY3/2008. Q&A summaries: Q2 FY2023 and Q3 FY2025. AGM notices: 71st, 72nd, 73rd, 75th. Integrated Reports 2023 and 2025. MTP 2025, the 2018 MTP, the 2023 progress report, and the 17 Sep 2026 restructuring notice. All of these opened as English documents. Two Japanese targets sit among them. The library's MTP entry offers a 'Medium-Term Management Plan (Japanese Version)', labelled as such. The 'Disclosure Policy' item, one of the five links on the English IR top and in the IR menu, goes unlabelled to the Japanese page /ir/ind_about (ディスクロージャーポリシー). One labelled Japanese document plus one unlabelled Japanese page in the core IR menu, so 3 (the floor between 4 and 3). Source document →
O3English IR archive free of dead links4/5
In the same sample of 22, 21 resolved to live documents (1 to 50 pp). One is dead: the FY3/2023 library entry 'Medium-Term Management Plan(0.00KB)' (mm_20220719_en_2.pdf) returns an empty, invalid PDF. The library's Q1 and H1 FY3/2026 entries link to IR news posts (archives/1470, 1471, 1477, 1478) rather than PDFs, and those work. One dead, so 4. Source document →
O4English IR pages render without blank JavaScript failures3/5
Rendered in Chrome: the IR top, IR News, Financial Highlights (charts render), Stock Information, the library's fiscal-year pages and the governance page all show their content. But three of the library's five category filters (Financial statements, Annual General Meeting of Shareholders, Integrated Report) render 'There is no corresponding IR library.' with an empty list, even though those documents exist on the fiscal-year pages. The Japanese equivalent (category:shareholders) lists its documents. The 'Presentations' filter stops at FY3/2022. A list renders empty, so 3. Source document →
O5Single page listing all English IR documents by date and type4/5
The IR Library is split into one page per fiscal year (FY3/2007-FY3/2027). Each page is typed by headings (Mid-term Management Plan, Financial statements, AGM, Integrated Report) but carries no posting dates. Its type filters are broken (see O4). It omits the Q&A summaries and timely disclosures. The English IR News is one dated list with a category label on every item (Financial closing, Management, Organization/Human resources, Announcement...). It carries the tanshin, decks, Q&A summaries, MTP, AGM notice and timely disclosures, paged by year back to 2012, but not the integrated report. One dated list covering most types, so 4. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep. Results decks for every quarter from FY3/2015 and full-year decks from FY3/2007. Tanshin from FY3/2022 onward. AGM notices from the 71st (2022) to the 75th. Integrated Reports 2022-2025. MTPs from FY2018 and the FY2022-24 progress report. Q&A summaries from 2023. IR news from 2012. Several years across types, so 5. Source document →
O7Named English IR contact published3/5
Named in the tanshin header - Hideki Ninomiya, Director, Managing Executive Officer, Administration Division, +81-96-272-5558. The site-wide Contact page has its own 'Investor relations' section and button, with a notice of the current quiet period - a dedicated route - but the IR top page links to no contact at all; the reader has to leave the IR section through the global 'Contact' button to find it. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
The English tanshin and deck went up the same day as the Japanese in every period read (Japanese / English IR news). Q1 FY3/2027: 7 Aug 2026 / 7 Aug, with the English tanshin PDF created at 12:39 that day. FY3/2026: 14 May 2026 / 14 May. Q3 FY3/2026: 13 Feb 2026 / 13 Feb. H1 FY3/2026: 7 Nov 2025 / 7 Nov (EN PDFs created 6-7 Nov). Q1 FY3/2026: 8 Aug 2025 / 8 Aug. TDnet carries the English tanshin at 15:30, the same minute as the Japanese. Same day every period, so 5. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Lags, Japanese against English. Q1 FY3/2027 tanshin: 7 Aug / 7 Aug 2026 = 0. FY3/2026 tanshin: 14 May / 14 May 2026 = 0. 75th AGM notice: both listed 2 Jun 2026 and both on TDnet 3 Jun 08:00 = 0. Corporate Governance Report: Japanese filed 25 Jun 2026, no English = more than 90. Yuho: Japanese 23 Jun 2026, no English = more than 90. Sorted 0, 0, 0, >90, >90: the median is 0, so 5. Source document →
R3Timely disclosures published in English4/5
TDnet list (rendered on kabutan), 15 Oct 2025 to 15 Oct 2026, against the English. Same-day English (same TDnet minute or the English IR news): presidential succession (7 Nov 2025), large automotive orders (11 Dec), TSMC award (10 Dec), Swiftfab (18 Dec), HiABS+ (26 Jan 2026), officer changes and restructuring (18 Mar), Business Development Center (8 Apr), director candidates (14 May), specified-subsidiary share transfer (26 May), Shichijo Plant No.2 (15 Jun), and the transfer cancellation and restructuring (17 Sep). The R&D service notices (Oct 2025 to Jun 2026) are in English on TDnet only. Japanese only: general-manager-level personnel changes (27 Nov 2025, 28 Jan and 27 May 2026), the shareholder-benefit QUO card change (26 Dec 2025) and the independent-officer filing. There were no forecast revisions or buybacks in the window. Nearly all same day, so 4. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
We rendered the English homepage, IR top, IR library, governance page and Site Policy and searched the visible text. There is no machine- or AI-translation notice, banner or pop-up. The documents carry only human-translation precedence language ('translated from the Japanese original for reference purposes only ... the original shall prevail' on the tanshin, notices and AGM notice), which belongs to R5. So 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The tanshin and the AGM notice say 'the original shall prevail'. The explanatory materials and the integrated report 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 →
Semiconductor automation, cash allocation and accountability reset
Strategy or target reset · In progress · Plan or update announced 30 May 2025
Hirata reset its plan after missing prior targets and established semiconductor growth, cash allocation, ROE and KPI-monitoring commitments.
Timeline and sources (1 step)
- 30 May 2025Plan or update announced Hirata reset its plan after missing prior targets and established semiconductor growth, cash allocation, ROE and KPI-monitoring commitments. Medium-Term Management Plan FY2025-2027
What management said it would do
Management targets operating profit above ¥10bn, at least 9.3% ROE and 6%-8% sales CAGR by FY2027.
From the company’s own disclosure · Medium-Term Management Plan FY2025-2027
What it actually did, and when
The company acknowledged two consecutive plan misses and instituted KPI ownership and reviews; outcomes remain pending.
Partly disclosed — a gap remains · Medium-Term Management Plan FY2025-2027 · Hirata Integrated Report 2025
What it disclosed about the economics
The plan allocates operating cash flow across facilities, R&D and shareholder returns and focuses on CCC improvement.
Partly disclosed — a gap remains · Medium-Term Management Plan FY2025-2027 · Hirata Integrated Report 2025
What has happened since
The FY2027 result is not due.
Partly disclosed — a gap remains · Medium-Term Management Plan FY2025-2027 · Hirata Integrated Report 2025
The question this leaves open
Investor question: What capacity and working-capital changes make this plan more achievable? IR preparation: publish milestones, KPI owners, cash conversion, margins and 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
Hirata allocates ¥6bn to facilities, ¥5bn to R&D and at least ¥8bn to shareholder returns, while prioritizing semiconductor capacity and wafer/PLP transfer development.
Capital structure
The plan permits timely interest-bearing debt for M&A and strategic alliances but does not set a quantified leverage corridor.
Governance of capital decisions
Management explicitly acknowledges missing the prior plan, assigns KPI owners and promises regular progress reviews and strategic adjustment.
Preliminary and not scored: a selected-source reading, reviewed 30 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 (Sumitomo Mitsui Trust Bank) is in Japanese only.
- Rule change 21 October 2026 · G2: 4 → 5. Under v1.1.1, an AGM candidate list covers the board when every sitting director is a candidate or is profiled elsewhere in English. The Audit and Supervisory Committee members are profiled in the English integrated report.
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.