EBARA CORPORATION
Cite as: Japan IR Index, EBARA CORPORATION (6361), 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.
O7 Named English IR contact published 3/5 Quick fix
Link a dedicated IR contact (form, address or e-mail) from the English IR section.
O1 English IR section reachable within two clicks of the English homepage 4/5 Quick fix
Put a visible Investor Relations link on the English homepage that goes straight to the English IR top.
O5 Single page listing all English IR documents by date and type 4/5 Quick fix
Keep one English page that lists every IR document with its date and type.
S2 IR presentations published in English 4/5 Translation
Publish the results presentation in English each period.
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 →
This company is a case in “Questions shareholders ask at the AGM”: 03 Unwinding cross-shareholdings. The shareholder proposals, the company’s answers and the vote results are taken from published documents.
Compared with peers
| Peer group | Median | This company |
|---|---|---|
| Same sector (Machinery) | 76.4 | 2 of 39 |
| Same size band (Over ¥2tn) | 87.3 | 1 of 10 |
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, 33 scored 3 or more and 0 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 Six Months Ended June 30, 2026 (IFRS), 14 August 2026 like the Japanese: 29 English pages against 25, the full tanshin with its notes. Every quarter back to 2021 is in the English library. Source document →
F2English results summary is a full translation, not an excerpt5/5
Q2 FY12/2026 tanshin, 14 Aug 2026. The English 'Consolidated Financial Results for the Six Months Ended June 30, 2026 [IFRS]' has 29 pages against the Japanese 第2四半期決算短信's 25, and the two contents pages match. Both have the summary pages and 1. Qualitative Information: results, segment table and segment narrative by business environment, financial position, and the forecast explanation with the revised forecast by segment. Both then have 2. Condensed statements: financial position, income, comprehensive income, changes in equity, cash flows. Then the notes: going concern, segment information, contingency, subsequent events. Then 3. Others: segment information and area information. The FY2025 year-end tanshin (13 Feb 2026) is 36 English pages against 35 Japanese, and adds cash flows, the shareholder-return policy, accounting standards, per-share data and changes of officers. The whole tanshin, so 5. Source document →
F3Financial statements including notes available in English5/5
The latest-period English tanshin (six months to 30 Jun 2026, 14 Aug 2026) has all five condensed statements: financial position, income, comprehensive income, changes in equity and cash flows. It also has the notes: going concern, a segment note with intersegment revenue and the reconciliation to profit before tax, a contingency note on the Elliott litigation, and subsequent events. The English Annual Securities Report for FY2025 (232 pp, posted 30 Apr 2026) carries the full IFRS statements, the notes and the auditor's report. Full statements and notes for the latest period, so 5. Source document →
F4Annual securities report available in English in any form5/5
Annual Securities Report for the 161st fiscal year (ended 31 December 2025, filed 23 March 2026) in English, 232 pages, posted April 2026: overview, business overview, sustainability, risk factors, management's discussion and analysis, governance, the statements and the independent auditor's report. English editions back to FY2021. Source document →
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are five reportable segments: Precision Machinery, Energy, Building Service & Industrial, Infrastructure and Environmental Solutions, plus Others. Every English tanshin gives orders, revenue and segment profit for each one. The H1 2026 figures include Precision Machinery revenue ¥183,693m and profit ¥32,534m, and Energy revenue ¥96,705m and a loss of ¥794m. The segment note has intersegment revenue and the reconciliation, and states that segment profit is operating profit. The English securities report defines each segment by major markets and main products, and states that segment accounting policies equal the group's. The 2023 split of the old FMS segment into three is explained in the English data file. The forecast is also given by segment. Every period, definitions stated, so 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English5/5
The English Chart Generator page (IR > Financial Information) links 'XLS downloads' to Premium_FinancialData_en.xlsx (45.6 KB, on stockweather's data2web host). It was opened and read in the rendered page. It has two sheets, 'Annual' and 'Quaterly'. The annual sheet runs from FY3/2015 to FY12/2025 (eleven years, with the 2017 change of year-end) plus the 2026 plan. It covers Operating Results (orders, revenue, gross profit, SG&A, operating profit, net profit and their ratios), Financial Position (assets, liabilities, interest-bearing debt, equity) and Cash Flows (operating, investing, financing, FCF, cash). It also has Financial Indicators (ROE, ROIC with the formula change explained, D/E, equity ratio) and Per Share (BPS, EPS, DPS, payout, adjusted for the 2024 split). Then capex, depreciation and R&D, revenue by region, results by segment, and employees. The quarterly sheet runs from 2022 Q1 to 2026. Five years or more of all four plus segments, so 5. One label (配当金の推移) is left in Japanese. Source document →
F7Guidance disclosed in English with the basis explained5/5
The English H1 2026 tanshin (14 Aug 2026) revises the FY2026 forecast and explains why. It sets the previous against the revised forecast: orders ¥1,070.0bn to ¥1,245.0bn, revenue ¥1,020.0bn to ¥1,053.0bn, OP unchanged at ¥125.0bn, net ¥99.5bn. It does the same by segment for orders, revenue and OP, for example Precision Machinery OP 73.5 to 77.0 and Energy 21.0 to 18.0. The text gives the reasons: higher Precision Machinery and Environmental profit, lower Energy, and settlement losses on the retirement-benefit plan revision. It states the FX assumptions (US$1 = ¥145, EUR1 = ¥175, RMB1 = ¥20, unchanged), and that the 28 July Kumamoto earthquake is not reflected. A 'Forecast of Business Environment by Business Segment' table gives the market view per segment. The forecast, all three assumption types and the revision explained, so 5. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English results for the six months to 30 June 2026 published 14 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 E-Plan 2028 (FY2026-2028) under the long-term vision E-Vision 2035. It was announced 13 Feb 2026 in English the same day as the Japanese: a 48-page notice (PDF created 13 Feb), the presentation (47 pp), the script and the Q&A, all on the English 'Long-term Vision and Medium-term Management Plan' page, matching the Japanese page's 説明会資料, スクリプト and 質疑応答. The page and deck give the FY2028 targets. Consolidated: ROIC 13.0%+ (WACC 8.0-9.0%), ROE 18%+, OPM 14.5%+, revenue around ¥1.2tn, D/E 0.4-0.5. By segment: ROIC, OPM and revenue CAGR for each. Also the three-year cash allocation (growth investment ¥260bn, infrastructure ¥60bn, shareholder returns of at least 100% of FCF) and non-financial KPIs. Current, complete and same-day, so 5. Source document →
S2IR presentations published in English4/5
For each 2026 quarter the English library has the presentation, the presentation with script and the earnings conference Q&A, matching the Japanese item for item (Q2: deck 14 August, script and Q&A 21 August). But for the FY2025 full-year briefing the Japanese Q&A (161_q4_QA_jp.pdf, listed 24 February 2026) has no reachable English counterpart: the English Financial Results table shows "-" in that cell and the English IR news never lists it (an English file, 161_q4_QA_en.pdf, created 2 March 2026, exists unlinked). A deck every period, one period's Q&A missing for the English reader: 4 (was 5 on 12 Oct; re-checked 15 Oct 2026). Source document →
S3English equity-story or investment-highlights page5/5
The English IR menu has a dedicated 'EBARA as an Investment' section. Its landing page has tabs for History, Business & Strengths, Growth, Shareholder Returns and External Evaluations, with key figures as of 31 Dec 2024 (113 years since founding, 111 group companies, 20,510 employees). The 'Business and Strengths' page quantifies the track record per business. It cites No.1 standard-pump and cooling-tower share in Japan, global No.1 share in LNG-plant pumps and oil and gas compressors, and global No.2 share in CMP systems and dry vacuum pumps. It also cites over 3,000 CMP systems delivered, over 500 waste plants, over 80 plants operated, and over 54,000 custom pumps for oil and gas. A dedicated investor section with quantified strengths, so 5 (the headline figures are a year old). Source document →
S4Growth drivers identified and quantified in English5/5
The English E-Plan 2028 deck (13 Feb 2026) names each segment's growth drivers with numbers attached. The assumed market CAGRs are WFE 8.0% for Precision Machinery, LNG 6.0% and ethylene 3.0% for Energy, and 3.5% for Building Service & Industrial; Infrastructure and Environmental are 'flat'. The named drivers are AI-driven logic and memory investment, advanced packaging, LNG value-chain demand, hydrogen, ammonia and CCUS, and data-centre cooling. Segment revenue CAGR targets are set (Precision Machinery 15%+, Energy 8%+, BS&I 8%+) toward revenue of around ¥1.2tn, backed by ¥260bn of growth investment including capacity expansion. The English securities report repeats the CMP and dry-pump market CAGR. The strengths page gives market shares. Named drivers with market size, growth and share, so 5. Source document →
S5Results-briefing transcripts or Q&A published in English4/5
Both languages publish a Q&A for every results briefing. The English is usually a few days behind. Q2 2026: Japanese 20 Aug, English 21 Aug. Q1 2026: Japanese 22 May, English 26 May. Q3 2025: Japanese 18 Nov, English 21 Nov. Q2 2025: Japanese 26 Aug, English 27 Aug (all from the IR News lists). The FY2025 full-year Q&A is listed in Japanese on 24 Feb 2026 (161_q4_QA_jp.pdf). Its English version exists (161_q4_QA_en.pdf, 4 pp, PDF created 2 Mar 2026), but the English Financial Results table shows '-' in that cell and the English IR News never lists it, so a reader cannot find it. The E-Plan 2028 briefing Q&A is in English. English presentation scripts accompany every period. Every period, but late and with one Q&A unlinked, so 4. Source document →
S6Integrated or annual report available in English5/5
Ebara Group Integrated Report 2026 in English, 94 pages (June-July 2026), reporting period the fiscal year ended 31 December 2025 - the latest closed year for a December year-end. Current and complete. Source document →
S7Progress against the previous plan, including misses, explained in English4/5
The English E-Plan 2028 deck (p.13-15, 13 Feb 2026) and the English securities report set every E-Plan 2025 target against the FY2025 result. ROIC 10%+ against 11.9%, ROE 15%+ against 15.6%, OPM 10%+ against 11.9%, revenue CAGR 7%+ against 12.1%. Growth investment ¥180-225bn against ¥174.8bn, infrastructure investment ¥50-80bn against ¥81.8bn. Segment OPMs against targets for FY2023-25. The non-financial targets against results, and the five priority areas graded with remaining challenges. The explanation is general: the script says 'we exceeded our targets... in all management indicators'. But Precision Machinery OPM 16.9% against 17%, Energy 11.9% against 12%, BS&I 6.3% against 7%, and growth investment below its range are not explained, and the ERP delay is the only shortfall named. A full reconciliation without the variances explained, so 4. Source document →
G1Corporate governance report available in English5/5
The Corporate Governance Report in English, 95 pages, 'Last Update: April 9, 2026', in the Corporate Governance Library under IR, beside the Basic Policy and the FY2025 board effectiveness evaluation. Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English notice of the 161st AGM (92 pp, 5 Mar 2026) has Proposal 2, the election of all ten directors (the whole board, on one-year terms). For each nominee it gives board and committee attendance, a career history, 'Number of years served as Director' (for example Oeda 8 years, Asami 7 years, Hosoda 1 year), important concurrent posts and the reasons for nomination and expected roles. Each nominee is marked Re-election or New, Outside, and Independent (notified to the exchange), and the company's independence standards are attached. Every director with tenure, expertise and independence, so 5. Source document →
G3Board skills matrix published in English5/5
The English AGM notice (5 Mar 2026, p.10) has 'Composition of the Board of Directors' for the board after the 26 Mar 2026 meeting. It is a matrix of all ten directors against nine areas: legal and risk, HR, finance and capital policy, auditing, corporate management and strategy, technology and R&D, environment, social, and internal control and governance. It also gives committee roles, the 70% independent and 90% non-executive ratios, and the gender split. The skill areas for the board chair and committee chairs follow. Current, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English5/5
The English securities report for FY2025, '(4) Compensation for Officers' (pp.133-137), sets out the structure: basic pay, a short-term performance-linked bonus, restricted stock and performance-linked stock. It gives the mix (President 1 : 0.6 : 0.3 : 0.3) and the 0-200% payout ranges. It names the KPIs: STI on consolidated ROIC and OP, with ROIC target 11.6% against actual 11.9% and OP ¥101.5bn against ¥113.8bn, a 10% weight on the engagement survey, and MBO, with an indicator-and-weight table. The PSU runs on FY2028 consolidated ROIC. It covers malus and clawback, and the committee's process (15 meetings). Amounts are given by type: Executive Officers ¥1,481m in total (basic 388, STI 277, RS 103, PSU 711, 18 people), internal directors ¥221m and independent directors ¥129m. Structure, KPIs with weights and amounts by type, so 5. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 161st Ordinary General Meeting in English (5 March 2026) for a meeting on 26 March - 21 days - 92 pages with every proposal's reference documents. No Japanese-only caveat on the voting route. Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the company's shareholder pages name Sumitomo Mitsui Trust Bank as share registrar, whose voting websites (www.web54.net and www.soukai-portal.net) are 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 English5/5
An English voting-results document for the 161st meeting (26-27 March 2026): votes for, against and abstaining and the approval ratio for every proposal (Proposal 1: 3,749,901 for, 1,250 against, 983 abstaining, 99.5%), alongside the notice of resolutions. Source document →
G7Cross-shareholdings in English with reduction schedule and rationale5/5
The English 'Cross-Shareholdings' governance page gives the policy (in principle none held), the board's rationale test (partnership importance, returns against the cost of capital), the voting standard, and a commitment to sell the company's shares in any cross-shareholder that wants to sell. It also has a five-year table of policy holdings: 32, 27, 23, 14 and 11 issues from end-2021 to end-2025, carrying amount ¥1,228m at end-2025, and zero listed issues in every year. The English securities report (p.143) states that 'the Company does not hold specified investment shares or deemed holdings', with 11 unlisted issues at ¥1,228m. States in English that it holds no listed cross-shareholdings, with the history, so 5. Source document →
O1English IR section reachable within two clicks of the English homepage4/5
On the English homepage (ebara.com/global-en/), 'Investor Relations' in the top navigation is a javascript menu button. It opens a mega-menu whose first entry is the Investor Relations top (/global-en/ir/): two clicks. The homepage news strip also has a visible 'IR' category tag that links straight to /global-en/ir/, but that is a news label rather than navigation. Recorded at the floor, two clicks, so 4. Source document →
O2English document links resolve to English documents5/5
Sampled 24 English links across types, and all opened as English documents. Tanshin: 162_q2_en, 162_q1_en, 161_q4_en, 161_q3_en, 159q4e-r1, 158. Decks: 162_q2, 162_q1, 161_q4, 161_q3, presentation_20220512. Q&A: 162_q2_QA_en, 260515_QA_ENG, 220515_qa_e (actually the Q1 FY2023 Q&A, as the table says). Yuho: FR25. CG report: CGreport_202604_en. AGM: the notice, the materials and the voting results. TDs: news20260213-03e, news20251205_03_eng, news20260414_02_en. Other: E-Plan 2025 deck, E-Plan 2028 deck and script, Integrated Report 2025, Fact Book FY2024. The fact book is bilingual (Japanese and English labels side by side). No Japanese document behind an English link, so 5. Two labels are wrong: the AGM page labels the 161st voting results 'Notice of the Resolution of the 160th', and the IR-top 'Latest IR Materials' box still offers Integrated Report 2025 and Fact Book FY2024 though newer editions are posted. Source document →
O3English IR archive free of dead links5/5
All 24 sampled English links, from 2022 tanshin and decks through to the August 2026 Q&A and the Excel data file, returned the document. No dead links, so 5. Source document →
O4English IR pages render without blank JavaScript failures5/5
These English IR pages rendered with their content: IR top (IR News, IR Calendar, the StockWeather live price block, the Latest IR Materials box), IR News (paginated), Financial Results, Annual Securities Report, Fact Book, General Meeting, Corporate Governance Library, Cross-Shareholdings, MTP and Business and Strengths. On the Financial Highlights page the charts and tables load lazily. A full-page capture first showed a blank band, but scrolling the page renders the Financial Position table and the Cash Flows chart (screenshot 6361_highlights2.png). Every page renders its content, so 5. Source document →
O5Single page listing all English IR documents by date and type4/5
The IR Library is split by type across pages: Financial Results (a period grid of tanshin, deck, script and Q&A), Annual Securities Report, Integrated Report, Investor's Guide, Fact Book and IR Events, plus 'IR Latest Library'. The English IR News (33 pages) is one dated list of results, decks, scripts, Q&As, the securities report, timely disclosures, the integrated report and governance postings. Every entry carries only an 'IR' tag, and the AGM notice and CG report never appear. One dated list, untyped and missing types, so 4. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The English archive goes back several years across types. Results tables (tanshin, deck, script, Q&A) run FY2022-FY2026. Annual securities reports run FY2021-2025, with Financial Reports for 2019-2020. Fact books run FY2020-FY2025. There are board-effectiveness evaluations for FY2020-2025, the previous plans (E-Plan 2025 and E-Plan 2022 with E-Vision 2030), and 33 pages of IR News. So 5. Source document →
O7Named English IR contact published3/5
The site-wide Inquiry page lists 'Inquiry about investor and public relations' with its own form among fourteen product and corporate routes; the IR top page offers only the global 'Inquiry' link. A dedicated route, not obvious from the IR site. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
Listing dates on both IR News lists, for the last four periods. Q2 2026: tanshin and deck in English 14 Aug, Japanese 14 Aug. Q1 2026: 15 May in both. FY2025: 13 Feb 2026 in both, with the E-Plan 2028 notice also the same day. Q3 2025: 13 Nov 2025 in both. Scripts and Q&As follow in both languages, the English a day to four days behind; that is S5's issue. Some English PDFs carry later creation dates than their listing (the Q1 2026 deck was created 15 Jul and the FY2025 deck 24 Feb, as was the Japanese FY2025 deck), consistent with re-uploads. Tanshin and deck same day every period, so 5. Source document →
R2Median lag in days between Japanese and English statutory publication3/5
Lags, English against Japanese, by document. Q2 2026 tanshin: 14 Aug in both, 0 days. Q1 2026 tanshin: 15 May in both, 0. AGM notice: Japanese e-provision start 26 Feb 2026, English PDF created 5 Mar 2026 (the notice is face-dated 9 Mar), 7 days. CG report: the Japanese report was last updated 9 Apr 2026 and the English 'Last Update: April 9, 2026' version was created 1 May 2026 (PDF date, no listing date), 22 days. Securities report: Japanese filed 23 Mar 2026, English listed 30 Apr 2026, 38 days. Sorted 0, 0, 7, 22, 38, median 7 days, so 4. Set to 3 in review, 15 Oct 2026: the AGM-notice lag is 7 days on the English PDF's creation date but 11 on the notice's own date (9 March); the median is that lag, so the floor of 3/4 is recorded. Source document →
R3Timely disclosures published in English5/5
Compared the Japanese IR News (TDnet-type notices, 15 Oct 2025 to 15 Oct 2026) with the English IR News. Every timely disclosure has an English PDF listed the same day: - monthly treasury-share acquisition status: 5 Nov, 1 Dec and 5 Dec 2025; 2 Mar, 1 Apr, 1 May, 1 Jun, 1 Jul and 3 Aug 2026 - the 13 Feb 2026 set: share cancellation, dividend increase, buyback limit, officer changes, the E-Vision 2035 and E-Plan 2028 notice, and the tanshin - 14 Apr 2026: RS and PSU treasury-share disposals, the equity-method associate transfer, and the response to a media report - 13 May 2026: payment completions - 15 May and 1 Jul 2026: updates on the associate transfer - 19 Jun 2026: credit-rating upgrade - 7 Jul 2026: the subsidiary lawsuit judgment - the quarterly tanshin All same day, so 5. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
No machine-translation notice anywhere checked. The rendered English IR pages (top, news, library, governance, MTP, strengths, highlights), the English Indemnifications page (forward-looking statements and liability only) and the documents (tanshin, decks, securities report, CG report, AGM notice, voting results, TD notices) carry no translation banner or accuracy disclaimer. The documents' 'translated from the Japanese original ... the original shall prevail' line is human-translation precedence and belongs to R5. So 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The securities report ('extracted and translated ... the original shall prevail'), the Corporate Governance Report, the AGM notice, the voting results and the results presentation all carry the subordination line. The Integrated Report 2026 does not. 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 →
E-Plan 2028 growth-investment and return program
Strategy or target reset · In progress · Action announced 13 February 2026
EBARA set three-year ROIC, ROE, margin and cash-allocation targets with business-level WACC references.
Timeline and sources (1 step)
- 13 February 2026Plan announced EBARA launched E-Plan 2028 with quantified investment and return targets. E-Vision 2035 and E-Plan 2028
What management said it would do
EBARA targets FY2028 ROIC of at least 13%, ROE of at least 18%, ¥260bn growth investment and ¥60bn infrastructure investment.
From the company’s own disclosure · E-Vision 2035 and E-Plan 2028
What it actually did, and when
The plan is in early execution; project-level committed spend and returns are not yet reconciled.
Partly disclosed — a gap remains · Message from the CFO
What it disclosed about the economics
Business-specific ROIC and WACC, payout of at least 35%, and shareholder returns of at least cumulative free cash flow are disclosed.
Partly disclosed — a gap remains · E-Vision 2035 and E-Plan 2028
What has happened since
The FY2028 result is not due.
Partly disclosed — a gap remains · E-Vision 2035 and E-Plan 2028
The question this leaves open
Investor question: Which projects create the incremental ROIC spread? IR preparation: publish business-level capital, WACC, ROIC and cash-return outcomes.
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
E-Plan 2028 allocates ¥260bn to growth and ¥60bn to infrastructure while targeting returns of at least cumulative free cash flow.
Capital structure
The plan uses dividends, repurchases and debt capacity within a financial policy.
Governance of capital decisions
ROIC and WACC targets are shown by business, with central dialogue on investment management.
Preliminary and not scored: a selected-source reading, reviewed 28 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.