Y.A.C. Holdings Co., Ltd.
Cite as: Japan IR Index, Y.A.C. Holdings Co., Ltd. (6298), 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.
G3 Board skills matrix published in English 3/5 Quick fix
Publish the skills matrix from the Japanese AGM notice in English.
R4 English disclosure free of machine-translation accuracy disclaimers 3/5 Quick fix
Have the English pages reviewed so that no machine-translation notice is needed.
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) 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 | 29 of 39 |
| Same size band (Under ¥100bn) | 51.4 | 10 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 5 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
Consolidated Financial Results for the Three Months Ended June 30, 2026, 13 August 2026, the same day as the Japanese - 'translated from a part of the Japanese original', and it is: 7 pages against 11. The summary, statements and segment note are there; section 1, the qualitative information on results, financial position and forecasts, is not, though the English still refers the reader to it. Source document →
F2English results summary is a full translation, not an excerpt3/5
The English tanshin are cut down. Q1 FY3/2027 (13 Aug 2026, same day as the Japanese): 7 English pages against 11 Japanese. The English has the summary pages, the balance sheet, the income and comprehensive-income statements and the segment note. It drops section 1, 当四半期決算に関する定性的情報 (results, financial position and the forecast explanation), though its own cover still refers the reader to it. It also drops the going-concern, equity and cash-flow notes. The FY3/2026 tanshin (13 May 2026) is the same: 13 English pages against 18 Japanese. Missing are 1. 経営成績等の概況 (results by segment, financial position, cash flows, 今後の見通し, dividend policy) and 2. accounting standards, plus every note except the segment note (accounting-policy changes, changes in significant subsidiaries, additional information, per-share data). The English says it is 'translated from a part of the Japanese original'. The qualitative section is cut, so 3. Source document →
F3Financial statements including notes available in English3/5
Statements come with the segment note only. The FY3/2026 English tanshin (13 May 2026) has the full balance sheet, the income and comprehensive-income statements, changes in equity and cash flows (pp4-12). The only note is segment information (p13), with definitions, the change in segment composition and both years' tables. The Japanese notes on going concern, significant changes in equity, accounting-policy and estimate changes, the change in significant subsidiaries (the Sanwa acquisition), additional information and per-share data have no English. The Q1 FY3/2027 English tanshin has the balance sheet, P&L and comprehensive income and the segment note, without the quarterly cash-flow (depreciation) and other notes. There is no English yuho, annual report or financial section to fill the gap. Most of the notes exist only in Japanese, as at 6136, so 3. Source document →
F4Annual securities report available in English in any form0/5
The English IR library holds results and presentations and the medium-term plan only. The Japanese library's 有価証券報告書 section has no English counterpart under any name.
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are three segments: Semiconductor and Mechatronics, Medical and Healthcare, and Environment and Social Infrastructure. Every English tanshin gives segment sales (external and intersegment) and segment profit with the reconciliation to operating income. Q1 FY3/2027: segment profit 243 / 9 / (360), adjustment (213). FY3/2026: sales 10,493 / 5,508 / 10,459, profit 1,435 / 62 / 721. The FY tanshin note defines each segment by product and service, says segment profit is operating-income based, and explains the FY3/2026 change in member companies and in the treatment of head-office costs, with the prior year restated. The decks add segment orders, backlog and sales by region, and the segment page on the English site repeats the change. Every period, definitions stated and restatements explained, so 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
There is no downloadable data file. The English Financial Information pages (Financial Highlights, Financial Indicators, Cash Flow, Segment Information) are rendered charts with figures for FY3/2022-FY3/2026 and no download link. The IR Library, IR News and Stock Information pages link only PDFs, with no .xls, .xlsx or .csv anywhere. The nearest thing is the six-year P/L and four-year B/S and cash-flow tables in the FY3/2026 results deck, which is a PDF.
F7Guidance disclosed in English with the basis explained5/5
The FY3/2027 forecast is in the English tanshin and deck: sales ¥35.0bn, OP ¥3.3bn, ordinary ¥3.0bn, net ¥2.0bn, EPS ¥112.66, dividend ¥45. The English tanshin drops the Japanese 今後の見通し paragraph, but the basis is given elsewhere in English. Market view: the FY deck (21 May 2026) has a results and outlook slide for each segment (clean conveyors, IPA dryers, HDD equipment, perovskite solar equipment, power-semiconductor investment, FPD and battery control systems, an Environment backlog of ¥12,452m, the Sanwa acquisition, dialysis and hair diagnostics). Segment forecasts: the English MTP revision notice (13 May 2026) and the MTP page give FY2026 (= FY3/2027) sales by segment of ¥13.0bn / ¥7.5bn / ¥14.5bn behind the ¥35.0bn. The Q1 deck (13 Aug 2026) tracks progress against that sales plan by segment, with backlog, and explains why the forecast is held. Revisions are explained in English: the FY3/2026 forecast-vs-actual notice gives reasons by segment and for each profit line. There is no FX assumption. Two of the three assumption types plus explained revisions, so 5 under the review ruling. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English results for the quarter ended 30 June 2026 published 13 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 the 16th Medium-Term Management Plan (FY2024-FY2026, ending March 2027), and the English matches the Japanese. The English MTP page sets out the vision (¥100bn sales by 2030), the strategic themes, and a KPI table that is the same as the Japanese page's: FY2024 and FY2025 actuals, the FY2026 plan by segment (13,000 / 7,500 / 14,500), sales ¥35,000m, OP ¥3,300m, OPM 9.4%. It links the English original plan notice (14 May 2024, with targets for each year) and both revision notices, including 'Notice Regarding the Revision of the Mid-Term Management Plan (FY2024-FY2026)' (13 May 2026, before-and-after targets by segment, with the background). That notice went up on 13 May 2026, the same day as the Japanese. Complete and current, so 5. Source document →
S2IR presentations published in English4/5
An English deck or supplementary material for every quarter, same day as the Japanese (Q1 FY2027 briefing materials, 15 pages; full-year presentation, 31 pages). But for the full-year briefing the Japanese library also links a transcript (ログミー Finance) that has no English counterpart. The YouTube video is a medium and costs nothing. Source document →
S3English equity-story or investment-highlights page3/5
There is no 'why invest', investment-highlights or at-a-glance page in English. The job is done by the corporate 'Who we are' page, which lists the group's characteristics (specialised leading companies, technology such as plasma, vacuum, heat and wet processes, an engineering focus, growth by co-prosperity M&A). That is qualitative and not framed for investors. The FY3/2026 deck adds a slide with an 'Investor Perspective' column for the medical businesses (stable earnings, growth options, future value), but it covers one segment and has no figures. The Message from the President states the ¥100bn-by-2030 goal. Company overview doing the job, so 3. Source document →
S4Growth drivers identified and quantified in English4/5
The English decks name the drivers and quantify some of them. In the FY3/2026 deck (21 May 2026) they are: semiconductor clean conveyors, IPA dryers and pure-water heaters, HDD equipment on AI data-centre demand, and perovskite solar equipment; FPD, battery and renewables control systems and the Sanwa Electric acquisition, with an Environment backlog of ¥12,452m (+33.7%); dialysis machines, hair-based ASD screening and the KI-ZA-SHI dementia biomarker system. The four growth pillars (existing business, general-purpose products, medical and healthcare, M&A) are tied to ¥100bn by 2030. Numbers attached: segment sales targets for FY2026 (13.0 / 7.5 / 14.5bn) and their revision, orders and backlog by segment, and Q1 progress against plan by segment. There is no market size, share or capacity, and no driver-by-driver contribution to the target. Named and partly quantified, so 4. Source document →
S5Results-briefing transcripts or Q&A published in English0/5
No transcript or Q&A in English. The English IR News and Financial Results & Presentation pages hold tanshin, supplementary materials and decks only. The Japanese side publishes transcripts (書き起こし, on logmi Finance) with video for the full-year and half-year briefings. Japanese IR News items: 2026年3月期 決算説明会「動画」並びに「書き起こし」を公開しました (28 May 2026, finance.logmi.jp/articles/384647), the 2026年3月期 中間期 one (26 Nov 2025) and the 2025年3月期 通期 one (29 May 2025). None has an English counterpart. Japanese only, so 0.
S6Integrated or annual report available in English0/5
No integrated or annual report in English. The Japanese library's ビジネスレポート (shareholder report) has no English counterpart.
S7Progress against the previous plan, including misses, explained in English3/5
No English document sets a previous plan's targets against actuals. The current plan's progress is shown with numbers but not reconciled. The English MTP page's KPI table puts FY2024 actual (sales 23,041, OP 1,354) and FY2025 actual (26,460, 1,319) beside the FY2026 plan. The English revision notices of 19 May 2025 and 13 May 2026 show the original against the revised targets by segment and give the reasons: inflation, tariffs, slower medical launches, the segment reshuffle. The original FY2024 and FY2025 targets (32,000 / 40,000 sales) are never set against the actuals in one place, and the variances are explained only as reasons for cutting targets. Progress narrated with some numbers, not target against actual, so 3. Source document →
G1Corporate governance report available in English4/5
The Corporate Governance Report filed with TSE, in English (19 pages, "Last Update: July 18, 2023"), on the English IR News list. No later English edition, so it is more than a year stale: 4 (was 0 on 12 Oct, which looked only at the English sustainability pages; re-checked 15 Oct 2026). Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English notice of the 54th AGM (listed 5 Jun 2026, meeting 29 Jun) profiles all eight director candidates, who are the whole board: Momose, Ohkura, Hatakeyama, Nishizaka, Kobayashi (new), Kifune, Moribayashi and Okumura. Each has a dated career history giving years on the board (e.g. 'Jun. 2021 Director, Member of the Board', 'Jun. 2016 Director (outside)'), shares held, and reasons for nomination stating their expertise (finance, environmental and social infrastructure, mechatronics, diversity, M&A advisory). The outside directors' tenures are spelled out (ten years, three, three). Independence is tagged [Outside][Independent] and confirmed in the notes (TSE independent-director filing). The business report section adds the board-attendance record for each outside officer (18 of 18). The statutory auditors are not up for election and are listed with positions only. Every director, all three elements, so 5. Source document →
G3Board skills matrix published in English3/5
The only English skills matrix is in the English Corporate Governance Report dated 18 Jul 2023 (p14). It maps eight directors and three auditors against seven skills (management, international, IT/manufacturing/development, marketing/sales, finance/accounting, legal/risk, sustainability), with definitions. It is more than three years old. Against the current board it is partial: director Kobayashi (elected 2026) and full-time auditor Murakami are missing, and it still lists Ito and Tsuji. The 2026 English AGM notice has no matrix. A stale matrix that no longer covers the board, so 3. It could arguably be 4 as a dated but once-complete matrix. Source document →
G4Executive remuneration structure and its performance linkage explained in English4/5
The English Corporate Governance Report (18 Jul 2023) gives the structure and the policy. Pay has three parts: fixed (by position, within the AGM limit, set by a voluntary compensation committee including outside directors); performance-linked cash 'according to the achievement rate of performance indicators and operating profit' for each business year; and restricted stock, with no new options since FY2017. Outside directors and auditors get fixed pay only. There are no KPI weights and no amounts in English: the report says individual pay is not disclosed and the total is 'disclosed in the annual securities report and business report', neither of which has an English remuneration section. The 2026 English AGM notice's business report omits officer remuneration. Structure and KPI without weights or amounts, so 4, and three years old. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of Convocation of the 54th Ordinary General Meeting of Shareholders in English, 25 pages with the reference documents for all five proposals, listed on the English IR News 5 June 2026 (PDF created 3 June), the same day as the Japanese, for a meeting on 29 June - 24 days. Voting by Internet or postal mail, deadline 5:30 p.m. on 26 June. English notices for the 51st-53rd meetings are on the same list. Scored 5 on 15 Oct 2026 (it was 0 on 12 Oct, which looked only at the Shareholders Meeting page). Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the company's shareholder pages name Mitsubishi UFJ Trust and Banking as share registrar, whose voting website (evote.tr.mufg.jp) 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 Shareholders Meeting page reports attendance (27) and the number of shareholders who voted in advance (2,684) for the 53rd meeting, but no resolutions and no vote counts; nothing for the 2026 meeting.
G7Cross-shareholdings in English with reduction schedule and rationale2/5
The only English treatment is the Principle 1.4 text in the English Corporate Governance Report (18 Jul 2023). It says the company holds a limited number of shares to maintain and strengthen business relationships and sales, considers purpose and capital cost for new holdings, revises holdings as conditions change, and will not hinder a cross-holder's sale. There is no count, no amount, no reduction target and no progress in English: the yuho and the current (29 Jun 2026) CG report 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 (yac.co.jp/en/) has an 'Investor Relations' block with a direct 'MORE' link to /en/ir.html, plus 'Investor Relations' in the global navigation and its sub-items (IR News, Financial Information, IR Library and others) in the page footer. One click, so 5. Source document →
O2English document links resolve to English documents5/5
We sampled 30+ English document links across types and years, and every one opened in English. Tanshin: Q1 FY3/2027, FY3/2026, Q3, H1 and Q1 FY3/2026, FY3/2025, FY3/2024, Q3 FY3/2022, FY3/2020, H1 FY3/2019, FY3/2017, H1 FY3/2016, FY3/2014. Decks and supplementary materials: Q1 FY3/2027, FY3/2026 (31 pp), FY3/2026 supplementary, Q3 and H1 FY3/2026 (H1 deck 42 pp), FY3/2025, FY3/2023. AGM notices: 54th and 53rd. The 2023 CG Report. MTP: the 2024 plan and the 2025 and 2026 revisions. Timely disclosures 2025-2026: merger, restricted stock, executive structure, corrections, buyback notices, dividend policy, forecast differences, shareholder-proposal opinion, ransomware, LinusBio. No Japanese document behind an English link. (The MTP page's HTML title and the breadcrumb label '現在位置' are in Japanese, but the content is English.) So 5. Source document →
O3English IR archive free of dead links5/5
In the same sample of 30+ English links, from 2014 to 2026, every one resolved to a live PDF (1 to 49 pp). No dead links, so 5. Source document →
O4English IR pages render without blank JavaScript failures5/5
We rendered the English IR top, IR News, Holdings News (year tabs work), Financial Results & Presentation, MTP, Financial Highlights, Indicators, Cash Flow, Segment Information, Shareholders Meeting, Dividend, IR Events, IR Policy, Message from the President and the IR inquiry page. All render their content and charts. The one failure is the IR menu's 'Stock Price' item: it redirects to reuters.com/companies/6298.T, which in the rendered browser returned an 'Access is temporarily restricted' bot-check page instead of a quote. That may be specific to an automated browser, so we took the floor. The IR top's 'IR events' box is stale (still announcing the 13 May 2026 results) but not blank. A widget fails and the content is there, so 4. Set to 5 in review, 15 Oct 2026: the only failure was the off-site Reuters stock page refusing an automated browser; every company IR page rendered its content. Source document →
O5Single page listing all English IR documents by date and type4/5
The English IR News (/en/ir/news.html; the Holdings News /en/news.html is the same list, 188 items) is one dated list with year tabs from 2005 to 2026. It carries every English document type: tanshin, decks and supplementary materials, AGM notices, the 2023 CG Report, MTP notices and the timely disclosures. Its category filters (All, 決算, PR, IR, ホールディングス, News/Notice, YAC BIO) are labelled partly in Japanese, and every IR item is tagged simply 'IR', so in practice the list is not typed. The IR Library separately splits results and decks by fiscal period and holds the MTP documents on their own page. One dated, all-types list, untyped, so 4 under the review ruling. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep. English tanshin cover every quarter from FY3/2014 to Q1 FY3/2027. Results decks and supplementary materials run from FY3/2016 (annual and interim) to every quarter of FY3/2023-FY3/2027. AGM notices cover the 51st-54th meetings (2023-2026). The MTP has its documents from 2024. IR News goes back to 2005. Several years across types, so 5. Source document →
O7Named English IR contact published4/5
'Inquiry for Investor Relations' is an item in the English IR section's own menu, on every IR page, leading to a dedicated IR inquiry form - separate from the site-wide Contact Us. The tanshin also names HATAKEYAMA Osamu, Director and General Manager, Administration Headquarter, +81-42-546-1161. Dedicated and immediately obvious. Source document →
R1Earnings materials published in English simultaneously with Japanese4/5
Listing dates on the English and Japanese news lists. The latest two periods were same day for both tanshin and deck. Q1 FY3/2027: Japanese tanshin and 決算補足資料 13 Aug 2026; English tanshin and briefing materials 13 Aug (PDFs created 13 Aug). FY3/2026: tanshin and supplementary 13 May in both; the briefing deck 21 May in both (both PDFs created 20 May). Earlier periods slipped. Q3 FY3/2026 was same day (12 Feb 2026). For H1 FY3/2026 the tanshin and supplement were same day (13 Nov 2025), but the briefing deck was 19 Nov in Japanese and 28 Nov in English. For Q1 FY3/2026 the supplement was 13 Aug in Japanese and 14 Aug in English, labelled '(Delayed)'. The English tanshin is the abridged version scored under F2; no fuller English follows. Tanshin same day every period, decks occasionally late, so 4. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Lags, English against Japanese, from the two IR News lists. Q1 FY3/2027 tanshin: 13 Aug / 13 Aug = 0. FY3/2026 tanshin: 13 May / 13 May = 0. 54th AGM notice: Japanese 2026年定時株主総会招集通知 5 Jun / English 5 Jun = 0 (English PDF created 3 Jun). Corporate Governance Report: Japanese filed 29 Jun 2026; the only English one is dated 18 Jul 2023, so no current English, more than 90. Yuho (第54期, 29 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
We compared the Japanese and English IR News for 15 Oct 2025-15 Oct 2026. Every Japanese timely disclosure has a same-day English counterpart on the company site. Dividend policy change and buyback (13 Nov 2025). Subsidiary merger and AIST research agreement (17 Nov). Ransomware incident (26 Nov). Monthly buyback status (2 Dec, 5 Jan, 2 Feb, 2 Mar, 1 Apr, 7 May) and completion (1 Jun). GLOME agreement (16 Feb). Sanwa acquisition and its correction (27 and 30 Mar). Receipt of the shareholder proposal (15 Apr). On 13 May: the forecast/actual and non-consolidated differences, MTP revision, segment companies, officer changes and the board opinion on the shareholder proposals. Corrections (24 Jun), executive structure (29 Jun), restricted-stock disposal and payment (21 Jul, 12 Aug), and the merger among subsidiaries (19 Aug). Not in English: the 25 Jun correction to the AGM notice, the board-effectiveness summary (29 Jun), the briefing announcement (6 Apr) and subsidiary product/event PR. Every disclosure of the listed types is there the same day, so 5. Set to 4 in review, 15 Oct 2026: the 25 June AGM-notice correction has no English version, so nearly all rather than all. Source document →
R4English disclosure free of machine-translation accuracy disclaimers3/5
The rendered English pages (homepage, IR top, IR News, library, MTP page, IR inquiry, Terms of Use) carry no machine-translation banner or notice. But two English documents in the archive are labelled as machine translations: 'DISCLAIMER: This English document is translated using a machine translation ... may include inaccurate translations'. They are the 'Notice Concerning Revision of the Medium-Term Management Plan' (19 May 2025, still in the IR News) and the 'Notice of Difference between Earnings Forecast and Actual Results' for FY3/2025 (14 May 2025, also linked from the results library). The tanshin, decks and AGM notices carry only the human-translation 'original shall prevail' line, which is R5's, and none of the 2026 disclosures checked says machine translation. Part of the English is machine-translated and says so, but not a core statutory document, so 3. Source document →
R5English version stated as authoritative, not subordinate to Japanese1/5
Every English document checked - the tanshin, the quarterly briefing materials, the full-year presentation and the supplementary materials - carries 'translated ... for reference purposes only ... the original shall prevail'. 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, portfolio reorganization and revised-profit plan
Strategy or target reset · In progress · Plan or update announced 13 May 2026
YAC revised its plan after acquisitions and portfolio reorganization, setting FY2026 segment and group operating targets.
Timeline and sources (1 step)
- 13 May 2026Plan or update announced YAC revised its plan after acquisitions and portfolio reorganization, setting FY2026 segment and group operating targets. The 16th Medium-Term Management Plan
What management said it would do
Management targets ¥35bn sales, ¥3.3bn operating profit and a 9.4% margin by FY2026.
From the company’s own disclosure · The 16th Medium-Term Management Plan
What it actually did, and when
The portfolio was reorganized and acquisitions added, but a full capital and synergy bridge is not disclosed.
Partly disclosed — a gap remains · The 16th Medium-Term Management Plan · Revision of the Medium-Term Management Plan
What it disclosed about the economics
The plan emphasizes growth, M&A and cash discipline without quantified capital-cost or return thresholds.
Partly disclosed — a gap remains · The 16th Medium-Term Management Plan · Revision of the Medium-Term Management Plan
What has happened since
The FY2026 result is not due.
Partly disclosed — a gap remains · The 16th Medium-Term Management Plan
The question this leaves open
Investor question: What purchase-price and integration returns support the revised plan? IR preparation: publish capital deployed, synergies, 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
YAC prioritizes semiconductor automation, power-semiconductor handling and M&A, but the selected plan does not quantify a full cash-allocation envelope.
Capital structure
The plan calls for strict cash and inventory control and financial soundness without publishing leverage, liquidity or shareholder-return guardrails.
Governance of capital decisions
Management reorganized the portfolio and revised targets after acquisitions, but does not provide ROIC, equity-cost or hurdle-rate accountability.
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 (Mitsubishi UFJ Trust and Banking) is in Japanese only.
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.