RORZE CORPORATION
Cite as: Japan IR Index, RORZE CORPORATION (6323), 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.
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.
S1 Medium-term management plan in English with numerical targets 0/5 Translation
Publish the medium-term plan, with its numerical targets, in English.
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 | 30 of 39 |
| Same size band (¥500bn–2tn) | 84.2 | 40 of 43 |
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, 25 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 English3/5
Consolidated Financial Results for the Six Months Ended August 31, 2026, 8 October 2026, the same day as the Japanese tanshin: 6 English pages against 11. The summary, balance sheet and income statements are there; the explanation of results, the notes and the segment information (セグメント情報等) are not. The statements without the statutory notes. Source document →
F2English results summary is a full translation, not an excerpt3/5
The English Q2 tanshin, 'Consolidated Financial Results for the Six Months Ended August 31, 2026', came out 8 Oct 2026: 6 English pages against 11 Japanese. The English has the two summary pages and the balance sheet, income statement and comprehensive-income statement. It drops all of the Japanese 添付資料: (1) 経営成績に関する説明, with its segment narrative, financial position and forecast explanation, and the notes, including セグメント情報等 on p.9. The FY2025 tanshin (9 Apr 2026) is cut the same way: 11 English pages against 21. Its statements are complete (balance sheet, income, comprehensive income, changes in equity, cash flows), but 1. 経営成績等の概況 and the notes, segment note included, are Japanese only. The qualitative review and the notes are cut, so 3. Source document →
F3Financial statements including notes available in English3/5
The latest English statements are in the Q2 tanshin (8 Oct 2026): semi-annual balance sheet, income statement and comprehensive income, with no cash flow statement and no notes. The year-end tanshin (9 Apr 2026) has the full set of statements, including changes in equity and cash flows, but its heading 'Financial Statements and Primary Notes' is followed by no notes at all. There is no English securities report. The English Integrated Report 2026 has only a ten-year highlights table. Statements without notes, so 3. Source document →
F4Annual securities report available in English in any form0/5
The English site's IR presence is an IR news category: results, briefings, the AGM notice and timely notices. No securities report in English; the Japanese IR news carries the 第41期 有価証券報告書.
F5Segment revenue and profit disclosed in English, consistent definitions3/5
The Japanese tanshin reports two segments, 半導体・FPD関連装置事業 and ライフサイエンス事業, with sales and segment profit (e.g. Q2: ¥79,357m and ¥23,969m; Life Science ¥376m and a ¥147m loss). The English tanshin has no segment note and no segment narrative. In English, the quarterly deck gives sales by business line every period: Semi ¥67,138m, Analysis device ¥1,304m, FPD ¥3,936m, Life science ¥376m and Service/Parts ¥6,977m for Q2 FY2026, with quarterly trends and orders/backlog by line (deck pp.6-12). There is no profit by segment or line. The Integrated Report 2026 adds ten years of sales by product. Sales without profit, so 3. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
There is no downloadable data file. The English site has no IR or financial-data page (/en/ir/ is 404). The English IR news posts link PDFs only, and a link scan of the English homepage, IR news list, company pages and sustainability site found no .xls, .xlsx or .csv. Instead there is a ten-year 'Performance trends' table (FY2016-FY2025: P&L, cash flows, balance sheet items, EPS, DPS, ROE, ROIC, sales by product) on p.52 of the English Integrated Report 2026, which is a PDF. The Japanese 財務データ page has no spreadsheet either.
F7Guidance disclosed in English with the basis explained5/5
The English tanshin (8 Oct 2026) gives the revised FY2026 full-year forecast: sales ¥180,007m, OP ¥53,078m, ordinary ¥54,889m, net ¥37,779m, EPS ¥217.84. The same-day English 'Notice of Revisions to Full-Year Consolidated Financial Forecast and Dividend Forecast' carries it too. The Q2 deck (p.18) sets the revised forecast against the initial one by business line: Semi ¥152,970m vs ¥132,480m, Analysis, FPD, Life science, Service. It shows the H2 implied figures, progress rates and the FX assumption (JPY/USD 158, against 159 initially), and explains the revision as a surge in Semi orders. P.17 gives the demand view: generative AI, HBM, advanced memory and logic capex, and advanced packaging, plus procurement risks. The FY2025 deck (9 Apr 2026) set out the initial forecast the same way, with FX 159 and a note that litigation costs were excluded. FX, market view and line forecasts, with revisions explained, so 5. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English results for the six months to 31 August 2026 published 8 October 2026, the same period and day as the Japanese filing. Source document →
S1Medium-term management plan in English with numerical targets0/5
RORZE has no medium-term plan in either language. The company sets an annual plan: the FY2025 and Q2 FY2026 decks give the single-year forecast and plan-versus-actual. The Japanese 経営方針・体制 page carries only governance and business risks. The Japanese IR library (決算短信, 決算説明資料, 有価証券報告書, 統合報告書) has no 中期経営計画. The English Integrated Report 2026 CEO message talks of medium- to long-term investment (the Vietnam plant, the new HQ) but sets no multi-year targets.
S2IR presentations published in English5/5
An English Financial Briefing deck for every quarter on the Japanese date (Q2 FY2026: 29 pages against the Japanese 29). The Japanese side publishes no transcript or Q&A beyond the deck. Source document →
S3English equity-story or investment-highlights page4/5
There is no 'why invest' page; the English site has no IR section. The English Integrated Report 2026 has a dedicated 'RORZE's Strengths [Cultivated Strengths]' section (p.16 onward: unique product development, vertically integrated manufacturing, global network), each expanded on pp.23-28. P.13 'Business Overview' quantifies the case: one of the world's top shares in wafer transfer systems, 10-year average growth of 18%/yr in sales and 21%/yr in OP, FY2026 plan ¥159.0bn sales and ¥38.1bn OP, OPM 24%, ROIC 18%, 13 countries and regions. The value-creation page gives ROE 17.1%, 89% overseas employees and 134 patents. The site's 'Corporate Strength' page lists the same three strengths in product terms only. A dedicated section, but the strengths are qualitative and the position ('one of the world's top shares') is not quantified; the growth and margin figures are results. 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 English4/5
The drivers are named and partly quantified in the English Q2 FY2026 deck. Generative-AI and HBM-driven semiconductor capex: Semi orders a record ¥78.5bn in Q2, 3.2x YoY, and backlog ¥103.8bn, 2.3x. Advanced packaging opens a new middle-end market (tape frame sorter, PLP EFEM, pp.24-25). Capacity: the new Vietnam plant has been brought forward to Q4 2027, taking assembly floor space from 14,400 to 60,000 m² (5.2x) and parts manufacturing 3.9x, and the Shanghai Lingang factory is expanding. The Semi forecast is raised to ¥152,970m. The Integrated Report 2026 adds the AI-era narrative and sales mix (Semi 83% of the FY2026 plan). There is no market size, no share figure beyond 'one of the world's top shares', and no contribution-to-target bridge. Named, some quantified, so 4. Source document →
S5Results-briefing transcripts or Q&A published in English0/5
Neither language publishes a transcript or Q&A. The Japanese IR library lists only 決算短信, 決算説明資料, 有価証券報告書/半期報告書 and 統合報告書 for every year back to FY2/2022. The Japanese IR news (2025-2026) has no 質疑応答 or 書き起こし. The English IR news has the tanshin and the 'Financial Briefing' decks only.
S6Integrated or annual report available in English5/5
Integrated Report 2026 in English, 54 pages like the Japanese, reporting period 1 March 2025 - 28 February 2026 (the current year), posted on the English news list 31 August 2026 and filed on TDnet 1 September with the Japanese. The 2025 edition was on the English news list from 31 October 2025. 5 (was 0 on 12 Oct, which missed both; re-checked 15 Oct 2026). Source document →
S7Progress against the previous plan, including misses, explained in English0/5
There is no plan in either language, so there is nothing to reconcile. RORZE publishes no medium-term plan (see S1). The only plan-versus-actual is single-year: the FY2025 deck sets FY2025 results against the initial full-year plan, and the Q2 FY2026 deck sets the revised forecast against the initial one.
G1Corporate governance report available in English3/5
No Corporate Governance Report in English (the TSE filing of 29 May 2026 is Japanese only). In its place the English sustainability site has a Corporate Governance page (policy, structure) and Integrated Report 2026 carries a governance section (pp.44-50): a governance narrative written for the site in place of the filing, 3 (was 0 on 12 Oct; re-checked 15 Oct 2026). Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English Integrated Report 2026, 'List of Executives (as of May 29, 2026)' (pp.47-49), covers all seven directors and three auditors. Each has date of birth, significant concurrent positions, a dated career history (e.g. 'May 1997 Director, the Company (current)'), reason for selection and shares held. The outside directors carry 'Years as outside director' (Hamori 10, Morishita 4, Aoto 2) and the auditors their term. Independence is marked for each outside officer, with a note that all six meet the TSE independence criteria and why Morishita's ADTEC role does not affect his. The English 41st AGM notice (6 May 2026) has the same profiles for all seven director candidates, with 'Independent' tags. Every director, with tenure, career and independence, so 5. Source document →
G3Board skills matrix published in English5/5
There is a current English skills matrix on p.48 of the Integrated Report 2026, as of the post-AGM board of May 2026. It maps all seven directors and three auditors against independence and six skills: global management; advanced technology and R&D; sales and marketing; production/SCM; financial and accounting; legal and risk management. The English 41st AGM notice also includes the matrix for the board as proposed. Current matrix in English, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English5/5
Integrated Report 2026 (English), 'Executive Compensation' (p.46). The structure is monthly base remuneration by rank and responsibility, plus cash bonuses; there is no stock pay. The performance link is a single KPI and formula: bonuses are set at around 1% of consolidated income before income taxes. Higher-ranked directors have a heavier performance-based weighting, set against peer benchmarking by the Nomination and Remuneration Committee. The section covers the delegation to the CEO, the new limits approved at the 41st AGM (¥400m, ¥40m of it for outside directors) and the amounts by type for FY2025: directors ¥181m, all base, with performance-linked '―' (7 directors, 3 outside), and auditors ¥16m. Individual pay is not disclosed. Structure, the KPI and its formula, and amounts by pay type are all in English, so 5 under the ruling. The pay-mix ratios by rank are not quantified. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 41st Annual General Meeting in English IR news on 6 May 2026 - the electronic-provision start date it states - for a meeting on 28 May: 22 days. 15 pages with the Reference Documents for all four proposals, including each director candidate's career summary. Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the voting website named in the English notice, www.web54.net (Sumitomo Mitsui Trust Bank), 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 notice in English IR news. The Japanese side publishes a 第41期 定時株主総会決議ご通知; it has no English counterpart.
G7Cross-shareholdings in English with reduction schedule and rationale0/5
There is nothing on cross-shareholdings in English. The English Integrated Report 2026, the 41st AGM notice and the sustainability governance page say nothing about policy shareholdings, and there is no English CG report or yuho. The Japanese CG report (29 May 2026, 原則1-4) states 現在当社は政策保有株式を保有しておりません. In English that statement would score 5, but it exists only in Japanese.
O1English IR section reachable within two clicks of the English homepage4/5
There is no English IR section: the global navigation is COMPANY INFO, PRODUCTS, NEWS, CONTACT, and /en/ir/ is 404. The English IR material is the 'IR' category of News. From the homepage that is NEWS LIST, then the 'IR' tab: two clicks. The homepage news panel also shows an 'IR' category tag that links straight to /en/news_category/ir/, but that is a label on a news item, not a navigation route. Recorded as two clicks, the floor, so 4. Source document →
O2English document links resolve to English documents5/5
We sampled 25 English document links across types and years. Tanshin: Q2 FY26, Q1 FY26, FY25, Q2 FY25. Decks: Q2 FY26, Q1 FY26, FY25, Q3 FY25, Q3 FY24, Q2 FY24. AGM notices: 41st and 40th. Integrated Reports 2026 and 2025. Timely notices: forecast and dividend revision 8 Oct 2026, China sub-subsidiary, lawsuit settlement, jury verdict, extraordinary loss, new HQ, dividend increase and buyback resolution (Apr 2025), buyback status (Aug 2025), Vietnam capex plan and typhoon report (Oct 2024). All opened as English documents; CJK characters run 0-122 per file, which is names and symbols. All English, so 5. Source document →
O3English IR archive free of dead links5/5
Every one of the 25 links sampled under O2 resolved to a live PDF (1-54 pp), from the Oct 2024 typhoon notice to the 8 Oct 2026 tanshin. The older decks resolve to the re-uploaded '_re' files that the posts now link. No dead links, so 5. Source document →
O4English IR pages render without blank JavaScript failures5/5
We rendered the English homepage (news panel populated), the News list, the IR and Notice category pages with pagination, a sample of individual posts, the Corporate Strength page, the Inquiries page and the English sustainability site (top and governance). Every list and post rendered its content. The only frames are reCAPTCHA and an intro video. No blank widgets, so 5. Source document →
O5Single page listing all English IR documents by date and type4/5
The English News list (/en/news/, filterable to IR) is a single dated list of everything posted: tanshin, decks, AGM notices, timely notices, and the integrated reports under 'Notice'. Items are tagged only IR/Notice/Event/Others, not by document type, and there is no library page by type or period. The IR filter alone omits the integrated reports. One dated all-types list, untyped, so 4 under the ruling. Source document →
O6English archive genuinely populated, not an unverifiable shell4/5
The English IR category goes back to 19 Aug 2024 (40 items over four pages). It holds tanshin and decks from Q2 FY2024 (Oct 2024) to Q2 FY2026, the 40th and 41st AGM notices, and timely notices since Aug 2024. The Notice category adds Integrated Reports 2025 and 2026. About two years across types, but nothing older, while the Japanese library runs back to FY2/2022 and the IR news to 2011. At least a year, not several, so 4. Source document →
O7Named English IR contact published2/5
Named in the tanshin header - Eiichi Isemura, General Manager of Administration Department, +81-84-960-0001. The English Inquiries page is a general form (product inquiries elsewhere, 'non-product inquiries' here, fallback info@rorze.com) with no IR route or category. 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 in the last 18 months. The English IR list and TDnet (kabutan) show both at 15:30: Q2 FY2026 8 Oct 2026, Q1 FY2026 9 Jul 2026, FY2025 9 Apr 2026, Q3 FY2025 9 Jan 2026, Q2 FY2025 10 Oct 2025, and Q1 FY2025 11 Jul 2025 (site). Earlier the deck lagged: Q3 FY2024 deck 16 Jan 2025 against the Japanese 10 Jan, and Q2 FY2024 deck 21 Oct 2024 against 15 Oct. The English decks now linked are '_re' files with PDF creation dates of 9 Oct 2026, later than their listing dates; TDnet confirms the original English decks were filed the same day. Same day, tanshin and deck, every recent period, so 5. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Lags, English against Japanese. Q2 FY2026 tanshin: 8 Oct / 8 Oct = 0. Q1 FY2026 tanshin: 9 Jul / 9 Jul = 0. 41st AGM notice: 6 May / 6 May = 0 (both on TDnet at 08:00). Corporate Governance Report: Japanese filed 29 May 2026, no English, so more than 90. Securities report: Japanese 第41期 有価証券報告書 22 May 2026, no English, so more than 90. Sorted 0, 0, 0, >90, >90: the median is 0, so 5. Source document →
R3Timely disclosures published in English5/5
TDnet on kabutan, 15 Oct 2025 to 14 Oct 2026. Besides results, decks and the AGM notice, the Japanese timely disclosures are: Nanoverse SEMICON launch (16 Dec 2025), jury verdict (16 Mar 2026), extraordinary loss and forecast revision (25 Mar), new HQ construction (30 Apr), Kumamoto earthquake impact (30 Jul) and second report (3 Aug), lawsuit settlement (3 Aug), China sub-subsidiary (24 Aug), Integrated Report (1 Sep) and the forecast and dividend revision (8 Oct). Every one has an English counterpart filed at the same minute, and each also appears on the English IR or Notice list that day. The only Japanese TDnet item without English is the Corporate Governance Report (29 May 2026), a governance filing scored under G1/R2 rather than a timely disclosure of the listed types. All same day, so 5. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
We rendered the English homepage, News list, privacy policy, Inquiries page and the English sustainability site (top and governance) and searched the visible text. There is no machine- or AI-translation notice and no pop-up. The documents carry only the human-translation precedence line ('translated from the Japanese original for reference purposes only ... the original shall prevail' on the tanshin 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 financial briefing decks carry no such 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 →
Vietnam production expansion through 2032
Strategy or target reset · In progress · Action announced 10 April 2026
RORZE disclosed an approximately US$330m phased buildout, with Phase 1 construction due in Q4 2027 and operations in Q1 2028.
Timeline and sources (1 step)
- 1 July 2025 · announced 10 April 2026Phased expansion disclosed RORZE described a mid-2025 to 2032 program, including Phase 1 completion in Q4 2027 and operation in Q1 2028. FY2025 Financial Briefing
What management said it would do
RORZE plans a phased Vietnam expansion of approximately US$330m from mid-2025 through 2032.
From the company’s own disclosure · FY2025 Financial Briefing
What it actually did, and when
Phase 1 is scheduled for completion in Q4 2027 and operation in Q1 2028; a complete cumulative spend bridge is not disclosed.
Partly disclosed — a gap remains · FY2025 Financial Briefing
What it disclosed about the economics
The plan supports manufacturing capacity and vertical integration, but does not disclose project-level return hurdles.
Partly disclosed — a gap remains · FY2025 Financial Briefing · RORZE Integrated Report 2025
What has happened since
The first operating milestone is not due.
Partly disclosed — a gap remains · FY2025 Financial Briefing
The question this leaves open
Investor question: What demand, utilization and return gates release each phase of the US$330m program? IR preparation: show committed versus optional spend and the Phase 1 economics.
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
RORZE disclosed an approximately US$330m Vietnam expansion through 2032 while forecasting ¥12.0bn of FY2026 capital investment.
Capital structure
The reviewed briefing provides the investment envelope and earnings, but not a complete post-project leverage and liquidity bridge.
Governance of capital decisions
The factory will be expanded in phases based on market trends, with Phase 1 completion targeted for Q4 2027 and operations in Q1 2028.
Preliminary and not scored: a selected-source reading, reviewed 24 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.
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.