Marumae
Cite as: Japan IR Index, Marumae (6264), methodology GNT-BDS v1.1.1, reviewed 2026-10-23.
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.
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. 19 answers corrected after re-checks (research errors) 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 | 20 of 39 |
| Same size band (Under ¥100bn) | 51.4 | 4 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, 27 scored 3 or more and 4 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
Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2026, 9 October 2026, the same day as the Japanese tanshin: 30 English pages against 25, with segment information by reportable segment. The English IR library (2025 and 2026 year selectors) carries every quarter's summary. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
F2English results summary is a full translation, not an excerpt5/5
The latest English tanshin, Summary of Consolidated Financial Results for the Fiscal Year Ended August 31, 2026 (9 Oct 2026), is 30 pages against the Japanese 25. The contents match item for item: overview of results, financial position and cash flows, future outlook, dividend policy, group status, accounting standards, the four consolidated statements, the notes (going concern, segment information with the depreciation-method change, per-share data, business combination), and the Others section (board changes; production, orders and sales). It also carries the non-consolidated reference summary. One slip: the English contents page says 'Fiscal Year Ended August 31, 2025' for the overview headings. A whole translation. Re-opened 23 Oct 2026; the September record scored 4. Source document →
F3Financial statements including notes available in English5/5
The FY2026 English tanshin (9 Oct 2026) carries the full consolidated balance sheet, income and comprehensive income statements, changes in equity and cash flows, with the same notes as the Japanese: segment information, per-share data, business combinations and the depreciation change. The Q3 FY2026 English tanshin (3 Jul 2026, 18 pp) also carries the statements and the segment note. Full statements and notes for the latest period. Re-opened 23 Oct 2026; the September record scored 4. Source document →
F4Annual securities report available in English in any form0/5
The English IR library holds results, presentations, timely notices, the governance report and the integrated report. No securities report in English under any name. (Note from the October cohort record; the September record also found nothing. The rendered English IR Library (2026 list) re-checked 23 Oct 2026: results, decks and notices only, no securities report, spreadsheet or Q&A.)
F5Segment revenue and profit disclosed in English, consistent definitions5/5
Since consolidation in FY2025 there are two reportable segments, Precision Components (Marumae) and Functional Materials (KMAC). Each English tanshin gives sales and segment profit for both: FY2026 precision components sales ¥9,118m, profit ¥2,287m; functional materials sales ¥11,316m, profit ¥1,848m; Q3 FY2026 profit ¥1,430m and ¥1,231m. The note states that segments are by product, that segment profit is based on operating profit, and that inter-segment transfers are at market prices, and it explains the FY2026 depreciation-method change (+¥159m to precision components). The deck adds sales by sector within each segment. Definitions stated and held constant every period. Re-opened 23 Oct 2026; the September record scored 4. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
No Excel or CSV file on the English site. We searched the IR Library (all years), Stock Information, Disclosure Policy, ESG, Integrated Report and the homepage for xls/csv/excel/data/zip links. The English site has no financial-highlights page at all. The Japanese 財務ハイライト page has no spreadsheet either, and the ESG data page is linked from the English ESG page as 'Japanese version only'. Multi-year figures exist only as charts in the PDF decks and the integrated report. (Note from the October cohort record; the September record also found nothing. The rendered English IR Library (2026 list) re-checked 23 Oct 2026: results, decks and notices only, no securities report, spreadsheet or Q&A.)
F7Guidance disclosed in English with the basis explained5/5
The FY2026 English tanshin gives the FY2027 forecast with a half-year split: sales ¥28,000m, OP ¥6,500m, ordinary ¥6,300m, net ¥4,200m, EPS ¥148.06. Its Future Outlook gives the market view: robust semiconductor and equipment capex, and customers' long-term forecasts to 2030 and beyond. The English deck (pp7-8) adds segment forecasts, with segment profit (precision components 2.3 to ¥3.9bn, functional materials 1.8 to ¥2.6bn) and sales by sector (semiconductor 7.55 to ¥11.18bn, semiconductor equipment parts 2.38 to ¥5.51bn, etc.), each with a reason. It also covers capex (¥5.6bn) and capacity constraints. Revisions are explained in English notices, e.g. 11 Jun 2026 'Reasons for Revisions' (order intake expanding rapidly, Q3 trial balance). There is no FX assumption. Two of the three assumption types plus explained revisions, so 5. Re-opened 23 Oct 2026; the September record scored 4. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English full-year results for the year ended 31 August 2026 published 9 October 2026, the same period and day as the Japanese filing. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
S1Medium-term management plan in English with numerical targets5/5
The current plan is 'Fusion 2028' (FY2026-FY2028), launched 11 Jul 2025 and revised 21 Aug 2026. The English 'Revision of the Medium-Term Business Plan' is 21 pages, the same as the Japanese 中期事業計画 改定資料, and was listed the same day. It sets out the revised consolidated targets (sales ¥32.0bn, OP ¥8.2bn, ROIC 25%, payout ratio 35% or more, minimum dividend), operating margin by segment (32% and 20%), segment sales and profit targets for FY28/8, and sector bridges from the FY26 budget, with the previous targets shown alongside. The FY2026 deck repeats them. The current plan, complete and same day. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
S2IR presentations published in English5/5
A Consolidated Financial Results Presentation in English for every quarter, posted with the summary (FY2026: 30 pages, 9 October 2026). The Japanese side's extra is a briefing video, a medium, not content. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
S3English equity-story or investment-highlights page5/5
Marumae Group Report 2026 (English) has 'At a Glance' (p.6) and 'Our Current Position' (p.7): No. 1 share of the Japanese market for semiconductor-equipment vacuum parts (8.1% in FY2025; ranks 1st, 2nd, 4th and 1st over FY2022-25), consumables at 71.8% of semiconductor sales, and KMAC as one of a few suppliers of 5N-purity aluminium. Re-checked 21 Oct 2026; the September index record scored this without a note. Under the S3 reading applied to the cohort on 21 Oct, a section in an investor document counts the same as a page and a named market rank counts as a quantified strength. So 5. Source document →
S4Growth drivers identified and quantified in English5/5
The English MTP revision (21 Aug 2026) names the drivers and quantifies their contribution to the FY28/8 targets. Precision components: semiconductor +¥4.9bn (market expansion, product lines, new customers' mass production, price increases), FPD +¥0.4bn, other +¥0.1bn. Functional materials: semiconductor equipment +¥4.2bn (high-share vacuum chambers, capacity expansion), basic materials +¥1.9bn (HDD and AI-server capacitor materials), IT equipment +¥0.5bn. The FY2026 deck adds FY2027 capex of ¥5.6bn by purpose, and the group report adds market share. Named drivers with numbers attached. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
S5Results-briefing transcripts or Q&A published in English0/5
No transcript or Q&A in English: the English IR Library lists summaries, presentations and notices only. The Japanese side has none either. Its 決算説明会 page (ir_9.html) carries, per briefing, only the deck and a 動画配信 (video) link, with no transcript or Q&A document, and the Japanese library has none. Neither language publishes one. (Note from the October cohort record; the September record also found nothing. The rendered English IR Library (2026 list) re-checked 23 Oct 2026: results, decks and notices only, no securities report, spreadsheet or Q&A.)
S6Integrated or annual report available in English4/5
Marumae Group Report 2026, 64 pages in English (PDF created 26 Aug 2026), complete. Its stated period is the fiscal year ended 31 August 2025 (September 2024 to August 2025), and the fiscal year ended 31 August 2026 has closed (results 9 Oct 2026). The complete report, one year behind the latest closed year, is 4 under the cohort convention (TOCALO, TOWA, Fuji Media). The October cohort record scored 5 on the reading 'the latest closed year when it was published'. Re-opened 23 Oct 2026. So 4. Source document →
S7Progress against the previous plan, including misses, explained in English3/5
The English Q3 FY2025 deck (11 Jul 2025, which launched Fusion 2028) has a 'Progress Against Previous Plan (Non-Consolidated)' page (p12). It says the FY2026 targets were behind schedule, lists the plan's three prerequisites, and narrates progress: 13 of a targeted 15 PORs acquired by May 2025, 9 in mass production, and capacity expansion incomplete. The previous plan's financial targets are not set against actuals. The Aug 2026 revision shows the old Fusion 2028 targets beside the new ones, which is a revision, not a reconciliation. Progress narrated with some numbers. Re-opened 23 Oct 2026; the September record scored 4. Source document →
G1Corporate governance report available in English5/5
The Corporate Governance Report in English, 34 pages in the filed report's structure, 'Last Update: December 5, 2025' - the post-AGM update for an August year-end company, ten months old and the latest edition. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
G2Director biographies in English with tenure, expertise and independence5/5
Marumae Group Report 2026 (English, pp50-51) covers all nine directors: Maeda, Kaizaki, Ando, Kadota, Seko, Hokanishi, Momokino, Yamamoto and Miyakawa. Each has a reason for election describing expertise, and the board table gives term of office (Maeda 37 years, Kaizaki 21, Ando 7, Kadota 5, Seko 3, Hokanishi 5, Momokino 8, Yamamoto 6, Miyakawa 6), 'Independent (Outside)' labels and the skills held. The English AGM notice (11 Nov 2025) adds full career histories for the eight candidates, with independence registration and outside directors' terms. Every director, with all three elements. Re-opened 23 Oct 2026; the September record scored 3. Source document →
G3Board skills matrix published in English5/5
The English AGM notice (11 Nov 2025, p15) has a 'Skill Matrix of the Board of Directors after the Meeting' for all nine directors, across seven areas (management/strategy, development/technology/quality, planning/sales, finance/accounting, risk/legal, global, administrative), with committee and independence columns. Group Report 2026 (p51) repeats it with terms of office. The board composed at the Nov 2025 AGM is the current one, as the next AGM is 27 Nov 2026. The current matrix in English. Re-opened 23 Oct 2026; the September record scored 3. Source document →
G4Executive remuneration structure and its performance linkage explained in English4/5
The English Corporate Governance Report (pp18-20) sets out the structure: fixed basic pay; performance-linked pay with a fixed and a variable part, the variable part driven by bonus per employee, ordinary profit to total assets and ordinary profit to net assets, converted 'at a predetermined ratio' into monthly pay; and restricted stock at a position-based amount times a 0-200% payment rate tied to the consolidated operating margin. Outside and Audit and Supervisory Committee directors get basic pay only. The amounts are totals only: ¥127m for five directors and ¥26m for four committee members (FY2025), plus the caps. There is no breakdown by pay type and no weights. The English yuho, which would carry the breakdown, does not exist. Structure and KPIs with total amounts only. Re-opened 23 Oct 2026; the September record scored 3. Source document →
G5AGM notice in English with sufficient lead time to vote3/5
The English notice of the 38th AGM carries the reference materials for all four proposals and is dated 11 November 2025 for a meeting on 27 November - 16 days on its face. But the English file is named 20251118.pdf against the Japanese 20251023.pdf (whose notice runs 80 pages to the English 15), and the English page gives no posting date. The evidence points to the English going up nine days before the meeting and does not rule it out; the floor is recorded. Re-opened 23 Oct 2026; the September record scored 0. Source document →
G6Shareholder vote results disclosed in English0/5
The English Shareholders' Meeting page carries the agenda and the notice only. No notice of resolutions and no voting results in English. (Note from the October cohort record; the September record also found nothing. The English Shareholders' Meeting page (ir_10.html) re-checked 23 Oct 2026: the 38th AGM notice only.)
G7Cross-shareholdings in English with reduction schedule and rationale2/5
The only English disclosure is the Corporate Governance Report's Principle 1-4 text. It says the company holds shares in a business partner, an unlisted company, to build a long-term relationship of trust; that the board verifies the holding annually; and that the shares will be reduced if holding is not appropriate. There is no amount, no reduction target and no per-stock table. The yuho, which would give the count and book value, has no English version, and Group Report 2026 does not mention cross-shareholdings. Policy only. This is the floor; the text does show the holding is a single unlisted partner. Re-opened 23 Oct 2026; the September record scored 3. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
The English homepage (https://www.marumae.com/en/) header has 'IR Information', which links straight to the IR Library (/en/ir_4.html), the English IR top. The homepage also lists the latest IR News with direct document links. One click. Re-opened 23 Oct 2026; the September record scored 4. Source document →
O2English document links resolve to English documents5/5
We sampled 21 English document links across types and years. Results summaries: FY2026 2893489, Q3 FY26 2847741, Q1 FY26 2736284, FY2021 2033553. Decks: FY2026 2893490, Q1 FY26 2736287, FY2024 with revised MTP 2509414, Q2 FY2021 1958569. Notices: 2893493 dividend, 2879100 acquisition, 2856871 earthquake, 2834583 forecast revision, 2700942 auditor change. MTP revision 2876769. CG reports: cg_2025.pdf, 2544748 (2024), 2066012 (2021). AGM notice 20251118.pdf. Integrated reports 2026, 2025, 2023, 2022 and 2021. All are English (CJK counts 0-58, mostly stray characters in charts). The one Japanese target, the ESG data page, is labelled 'Japanese version only'. All English. Re-opened 23 Oct 2026; the September record scored 4. Source document →
O3English IR archive free of dead links5/5
The same 21-document sample (see O2), from 2021 to Oct 2026, all opened in the rendered browser with text. None was dead. Separately, the site-wide 'Contact' link (/en/ask.html) returns 404; it is a page rather than an archive document, and O7 already scores it. Archive all live. Re-opened 23 Oct 2026; the September record scored 4. Source document →
O4English IR pages render without blank JavaScript failures5/5
These English pages all rendered their content in the browser: homepage (IR News list), IR Library (the PRONEXUS list loads and the year selector works for 2021-2026), Shareholders' Meeting, Stock Information / Shareholder Benefits, Disclosure Policy / Disclaimer, Integrated Report and Site Map. No empty list or failed widget. Re-opened 23 Oct 2026; the September record scored 4. Source document →
O5Single page listing all English IR documents by date and type4/5
The English IR Library is one dated list per calendar year (selector 2021-2026). It mixes results summaries, presentations, timely notices, the MTP revision and older CG reports, with no type labels or filters beyond the titles. The current CG report, the integrated reports and the AGM notice sit on separate pages and links. One dated all-types list, untyped. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The English library runs from 2021 (FY2021 summaries and decks, CG report Dec 2021) to Oct 2026, with every quarter's summary and deck and the timely notices. The integrated reports go back to the 2021 edition. Several years across document types. Re-opened 23 Oct 2026; the September record scored 4. Source document →
O7Named English IR contact published2/5
The English site's only contact link - 'Contact' in the header of every page, IR pages included - goes to /en/ask.html, which returns 404 Not Found (checked twice). The Japanese contact form has an 'IRについて' category and the Japanese briefing page gives ir@marumae.com, but neither is offered in English. What reaches an English reader is the address inquiry_en@marumae.com, printed in the tanshin and governance-report headers with Takeshi Shimomai, General Manager of the Administration Department. Named only in document headers; the site offers no working route. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
The tanshin and deck are the same day in both languages every period. FY2026: EN summary and presentation listed 9 Oct 2026, JA 決算短信 and 補足資料 9 Oct, all PDFs created 9 Oct. Q3 FY2026: 3 Jul both sides. Q2: 3 Apr 2026 both. Q1: 26 Dec 2025 both. FY2025: 10 Oct 2025 both. Same day every period. Re-opened 23 Oct 2026; the September record scored 4. Source document →
R2Median lag in days between Japanese and English statutory publication3/5
Per-document lags. FY2026 tanshin: EN and JA 9 Oct 2026 = 0. Q3 FY2026 tanshin: 3 Jul 2026 both = 0. AGM notice: JA posted about 29 Oct 2025 (PDF created 28 Oct, site updated 29 Oct); the EN PDF was created 10 Nov but is filed as 20251118.pdf, with no listing date, so 13-20 days. Corporate Governance Report: JA updated 5 Dec 2025 and posted 12 Dec; EN listed 27 Dec (PDF created 26 Dec), so about 15 days. Yuho: no English, counted as more than 90. Median about 13-15 days. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
R3Timely disclosures published in English4/5
The Japanese 適時開示書類 list for 15 Oct 2025 to 15 Oct 2026 has 16 timely disclosures excluding decks. They are: dividends of surplus and change of auditor (24 Oct), merger of a subsidiary (21 Nov), restricted-stock disposal (19 Dec) and its completion (9 Jan), extraordinary income (29 Jan), forecast and dividend revisions (20 Feb, 11 Jun), stock split (27 Feb), share issuance and offering (8 May), pricing (18 May), number of new shares (18 Jun), earthquake impact (28 Jul), MTP revision (21 Aug), business acquisition (28 Aug) and dividend revision (9 Oct). The English library has all 16. Fifteen are on the same date; the earthquake notice is listed 29 Jul, one day late and marked [Delayed]. All, one a day late. (Note from the October cohort record; the September record gave the same score without a note. Re-read 23 Oct 2026.) Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
There is no machine-translation notice on the rendered English pages (homepage, IR Library, Shareholders' Meeting, Integrated Report) and no translate pop-up. The English Disclaimer (ir_8.html#men) is a general accuracy and forward-looking disclaimer that does not mention machine translation. The documents carry only the human-translation line ('the original shall prevail'), which belongs to R5. Nothing presented as machine-translated. Re-opened 23 Oct 2026; the September record scored 3. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The tanshin, the results presentation, the governance report and the AGM notice all say 'the original shall prevail'. The Marumae Group Report carries no such statement. Disclaimed on some documents. Re-opened 23 Oct 2026; the September record scored 1. 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 2026-10-23. 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 components, KMAC integration and ROIC plan
Strategy or target reset · In progress · Plan or update announced 1 July 2025
Marumae formulated Fusion 2028 after acquiring KMAC, creating two segments and adopting consolidated ROIC as a key indicator.
Timeline and sources (1 step)
- 1 July 2025Plan or update announced Marumae formulated Fusion 2028 after acquiring KMAC, creating two segments and adopting consolidated ROIC as a key indicator. MARUMAE REPORT 2025: Fusion 2028
What management said it would do
Management targets ¥25bn sales, ¥5.6bn operating profit and 15% consolidated ROIC by FY2028.
From the company’s own disclosure · MARUMAE REPORT 2025: Fusion 2028
What it actually did, and when
KMAC joined the group and segment strategies are disclosed; final integration and return results remain pending.
Partly disclosed — a gap remains · MARUMAE REPORT 2025: Fusion 2028 · Integrated Reports
What it disclosed about the economics
The plan adopts ROIC after prior overinvestment experience and targets 30 new semiconductor PORs.
Partly disclosed — a gap remains · MARUMAE REPORT 2025: Fusion 2028 · Integrated Reports
What has happened since
The FY2028 result is not due.
Partly disclosed — a gap remains · MARUMAE REPORT 2025: Fusion 2028
The question this leaves open
Investor question: How much synergy and invested capital are embedded in the 15% ROIC target? IR preparation: bridge acquisition capital, segment profit, working capital 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
Marumae combines precision semiconductor-equipment components with acquired functional materials and targets 30 new PORs, but the selected report gives limited absolute cash allocation.
Capital structure
Management explicitly links its ROIC discipline to avoiding overinvestment, although quantified debt and liquidity guardrails remain limited.
Governance of capital decisions
The new consolidated plan reports segment targets and adopts a 15% group ROIC target after the KMAC acquisition.
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 · F2: 4 → 5. The English FY8/2026 tanshin (30 pp against 25) matches the Japanese item for item, notes included.
- Research error 23 October 2026 · F3: 4 → 5. The latest English tanshin carries the full statements with the same notes as the Japanese.
- Research error 23 October 2026 · F5: 4 → 5. Sales and segment profit for both segments every period, with the segment definitions stated.
- Research error 23 October 2026 · F7: 4 → 5. The forecast comes with the market view, segment forecasts with reasons and explained revisions in English (no FX assumption).
- Research error 23 October 2026 · S7: 4 → 3. The previous plan's progress is narrated with some numbers, but its financial targets are not set against actuals.
- Research error 23 October 2026 · G2: 3 → 5. Group Report 2026 covers all nine directors with term, reasons and independence; the AGM notice adds career histories.
- Research error 23 October 2026 · G3: 3 → 5. The English AGM notice and Group Report 2026 carry the current skills matrix for all nine directors.
- Research error 23 October 2026 · G4: 3 → 4. The English CG report sets out the pay structure and its KPIs with total amounts, but no breakdown by type or weights.
- Research error 23 October 2026 · G5: 0 → 3. The English AGM notice was posted on 18 November for a meeting on 27 November: under two weeks.
- Research error 23 October 2026 · G7: 3 → 2. The English CG report gives the cross-shareholding policy only: no amount, target or progress.
- Research error 23 October 2026 · O1: 4 → 5. 'IR Information' in the English homepage header goes straight to the IR Library: one click.
- Research error 23 October 2026 · O2: 4 → 5. A sample of 21 English document links (2021-2026) all led to English documents.
- Research error 23 October 2026 · O3: 4 → 5. The same 21 links all opened; no dead documents.
- Research error 23 October 2026 · O4: 4 → 5. Every English IR page rendered its content, including the script-loaded IR Library.
- Research error 23 October 2026 · O6: 4 → 5. The English archive runs from 2021 to 2026 across results, decks, notices and reports.
- Research error 23 October 2026 · R1: 4 → 5. The English tanshin and deck were posted the same day as the Japanese in every period.
- Research error 23 October 2026 · R4: 3 → 5. Nothing on the English site is presented as machine-translated; the 'original shall prevail' line belongs to R5.
- Research error 23 October 2026 · R5: 1 → 2. The prevailing-language line is on the tanshin, deck, CG report and AGM notice, but not on the Group Report.
- Research error 21 October 2026 · S3: 2 → 5. The English Marumae Group Report's At a Glance and Current Position pages give the No. 1 Japanese share in semiconductor-equipment vacuum parts (8.1%). The September record had no note.
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.