Kurita Water Industries Ltd.
Cite as: Japan IR Index, Kurita Water Industries Ltd. (6370), 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.
G6 Shareholder vote results disclosed in English 2/5 Quick fix
Publish the vote counts from the Japanese extraordinary report in English.
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.
O4 English IR pages render without blank JavaScript failures 4/5 Quick fix
Fix or replace the English page elements that load empty (lists, widgets, embedded frames).
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.
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 | 3 of 39 |
| Same size band (¥500bn–2tn) | 84.2 | 4 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, 32 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 First Quarter of the fiscal year ending March 2027 (IFRS), 6 August 2026, the same day as the Japanese: 24 pages with the explanation of results by segment, the statements and the segment information note, plus English financial supplemental data. Source document →
F2English results summary is a full translation, not an excerpt5/5
Latest tanshin, Q1 FY03/2027 (6 Aug 2026): the English 'Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2027 (IFRS)' is 24 pages against 25 for the Japanese 決算短信 (an image PDF, compared by page and screenshot). The English has the summary pages, 1. Results of Operations (results, segment narrative, financial condition, cash flows, (4) forecasts), 2. the condensed statements (financial position, P&L and comprehensive income, changes in equity, cash flows) and (5) the notes: going concern, change in presentation, segment information, bonds, changes in equity, net sales, per share, other income, discontinued operations. The FY03/2026 pair (14 May 2026) has identical tables of contents: English 29 pp, Japanese 32 pp, both running from the business overview and dividend policy through the five statements to notes on segments, cash, assets held for sale, bonds and borrowings, per share, discontinued operations, P&L and subsequent events. The whole tanshin, so 5. Source document →
F3Financial statements including notes available in English5/5
The latest-period English tanshin (Q1 FY03/2027, 6 Aug 2026) carries the full condensed IFRS statements (financial position, profit or loss, comprehensive income, changes in equity, cash flows) and the notes, including the segment note with its reconciliation to profit before tax, the discontinued-operations note for Pentagon and per-share information. The year-end MD&A and Consolidated Financial Statements (100 pp, 18 Sep 2026) adds the full annual 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 form4/5
No document titled a securities report, but 'MD&A and Consolidated Financial Statements for FY Ended March 31, 2026' (100 pages, 18 September 2026) carries management's discussion and analysis, business risks, the full IFRS statements and notes, and the independent auditor's report - the current year. The remaining statutory narrative (governance, business overview) is published in English elsewhere on the site, which is how AGC's Financial Review was scored. Source document →
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are two reportable segments, Electronics Industry and General Industry. Every English tanshin gives external sales, intersegment sales and segment profit for each, with adjustments and a reconciliation to profit before tax. For example, in Q1 FY03/2027 Electronics had sales of ¥45,929m and profit of ¥9,463m, and General ¥53,970m and ¥4,834m. The note says why the segments are drawn this way, that segment profit is operating profit, and that Pentagon (formerly in Electronics) is excluded and prior periods restated as a discontinued operation. The decks add segment orders, sales and business profit, with service and facilities splits, every quarter, and the bilingual Financial Supplemental Data does the same. Every period, definitions stated, so 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English5/5
Financial Data > Historical Data offers 'Historical Data (xlsx: 52.8KB)', FactData2026-E.xlsx, in English. We read it inside the rendered page by fetching the file and unzipping its sheet XML. It has nine sheets: IFRS FP, IFRS PL, IFRS CI, IFRS CF (FY2019-FY2026, eight years), J-GAAP BS, PL, CI and CF (ten years to FY2019), and Non-consolidated BSPL. The P&L runs from net sales to basic and diluted EPS, with discontinued operations shown separately. The balance sheet and cash flow statement are full. Each quarter's Presentation Materials also include a 'Financial Supplemental Data' Excel file (bilingual, e.g. KWI20260806_FinancialData_je.xlsx, 153KB) with segment data. More than five years of P&L, balance sheet, cash flow and per-share data, plus segments, so 5. Source document →
F7Guidance disclosed in English with the basis explained5/5
The FY03/2027 forecast is in English with its basis. The year-end tanshin (14 May 2026) gives the forecast and '(4) Future Outlook'. The FY results deck (58 pp) gives the 'Assumptions in the Business Forecast for FY03/2027'. These cover the market view by region (Japan, Asia, the Americas, EMEA), the estimated Middle East impact (¥5.0bn on sales and ¥2.5bn on profit, split by segment) and FX (USD 150.8, EUR 174.8, CNY 21.3). The deck also gives forecast orders, sales and business profit by segment and sales by region. Revisions are explained in English the same day: 'Notice of Recognition of Impairment Loss and Revision of Business Forecast' (13 May 2026) and the 29 Jul 2026 notice, which says the ¥8.7bn rise in net profit comes from the gain on the Pentagon share transfer and gives old and new forecasts. The Q1 tanshin says the forecast stands as revised on 29 July. All three assumption types and explained revisions, so 5. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English results for the quarter ended 30 June 2026 published 6 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 PSV-27, for FY03/2024 to FY03/2028. The English 'Kurita Group Medium-Term Management Plan PSV-27' deck (40 pp, the same as the Japanese 40) is listed 12 May 2023, the same date printed on the Japanese deck's cover (the Japanese listing shows 11 May). It gives the FY03/2028 targets: net sales ¥450.0bn, business profit margin 16%, ROE 12% or more, ROIC 10% or more, plus non-financial CSV targets and segment targets. The revised targets are in English too. Integrated Report 2026 and the English MTP page show net sales ¥470.0bn, water savings 250 million m3 and avoided GHG 3,000 thousand t or more. The FY03/2026 results deck (14 May 2026, the same day as the Japanese) has the 'Achieving the PSV-27 plan' section with targets by segment. Complete and current in English, so 5. Source document →
S2IR presentations published in English5/5
For Q1 FY2027 the English library has the results presentation (6 August), the same presentation with script (7 August) and a summary of the briefing Q&A (12 August), as well as the full-year presentation - the complete Japanese set. Source document →
S3English equity-story or investment-highlights page4/5
The English IR top links to a dedicated 'Quick Explanation Kurita' page ('To introduce Kurita's features using numbers and keywords'). It gives FY03/2026 sales of ¥402bn by region (Japan 53%, Asia 22%, Americas 14%, EMEA 11%) and by industry (General 57.4%, Electronics 42.6%), headcount, 64 group companies, R&D of ¥8bn (2.0% of sales), and patents (157 Japanese and 262 overseas applications; 1,320 and 1,301 rights held). Integrated Report 2026 adds 'What is Kurita' (more than 55,000 customers) and 'At a Glance'. The results deck has 'External environment and Kurita's strengths', citing 83% service-business sales in General Industry and its global semiconductor customer base. The page is dedicated and quantified, but it presents company facts rather than strengths framed as an investment case. Strengths are argued in the reports, not on an investor page. So 4. Source document →
S4Growth drivers identified and quantified in English5/5
The FY03/2026 English results deck (pp. 27-52, 'Achieving the PSV-27 plan and driving the next growth phase') names the growth drivers with numbers. Semiconductors: market CAGR +8.5% (SEMI wafer volume), regional growth of +8% to +14%, about ¥200bn of addressable facility projects over the next two years, and 4-5% of facility orders expected as annual service sales after delivery. Electronics: net sales target ¥230.0bn and margin 18.0% for FY03/2028. CSV business: serviceable obtainable market ¥150bn, 139 models as of May 2026, lead conversion rate 38% to 55%, sales ¥68.0bn forecast against a ¥100.0bn target, gross margin above 10 points over conventional business. General Industry targets ¥240.0bn and 14.0%. Named drivers with market size, contribution and targets, so 5. Source document →
S5Results-briefing transcripts or Q&A published in English5/5
Every results briefing the Japanese side summarises has an English 'Summary of the Q&A Session', posted the same day: Q1 FY03/2027 (12 Aug 2026 both), FY03/2026 (20 May 2026 both), Q3 FY03/2026 (9 Feb 2026 both), H1 FY03/2026 (12 Nov 2025), Q1 FY03/2026 (13 Aug 2025). Both languages publish a summary (質疑応答要旨), not a full transcript, and both publish the deck with the presenter's script. English also carries Q&A for the sustainability briefings (Jan 2025, Jan 2026), the sell-side small meeting (17 Dec 2025) and the external directors' dialogue with investors (27 Apr 2026). The archive goes back to FY03/2020. Every briefing, same day, so 5. Source document →
S6Integrated or annual report available in English5/5
Kurita Group Integrated Report 2026 in English, 108 pages, published 30 September 2026, reporting period the fiscal year ended 31 March 2026 - already the year just closed. Current and complete. Source document →
S7Progress against the previous plan, including misses, explained in English4/5
The previous plan was MVP-22 (to FY03/2023). The English PSV-27 deck opens with 'Review of MVP-22' (pp. 3-8). It sets the targets (organic sales growth 3% or more, business profit margin 15%, ROE 10% or more) against the actuals (growth 3.7%, margin 11.2%, ROE 7.1%, with FY2018-FY2023 charts) and says 'we fell short of management targets'. It also tables each non-financial target against the forecast result, marked Achieved or Unachieved (water savings 118 against 240 million m3; waste 415 against 450 thousand t), and lists achievements and issues. Every target is set against its actual, but the shortfalls in margin and ROE are not explained target by target; there are only general 'main issues' and a page on the changed business environment. Reconciliation without a full explanation, so 4. Source document →
G1Corporate governance report available in English5/5
The Corporate Governance Report in English, 47 pages, 'Last Update: July 2, 2026', on its own page under the English Corporate Governance section, beside the Corporate Governance Policies. Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English notice of the 90th AGM (69 pp, 28 May 2026) proposes all eight directors, since the whole board is re-elected each year. Each candidate has a dated career history, 'Number of years as Director' (e.g. Kachi 1 year), attendance at the board and each committee, shares held and reasons for nomination. The five external directors are designated 'Independent Director as set forth under regulations' of the TSE, and the independence criteria are set out. The governance page 'Career Profiles of Directors and Executive Officers' (as of 25 Jun 2026) repeats the careers and reasons, with the Lead Independent External Director marked. Every director, all three elements, so 5. Source document →
G3Board skills matrix published in English5/5
The English governance page 'Skills Matrix of Directors' maps all eight current directors (Kachi, Ejiri, Kuse, and external directors Miyazaki, Takayama, Matsuo, Ishiguro, Torayama) against eight skills: corporate management; finance and accounting; legal and HR management; global management; understanding and solving issues on site; R&D, technology and engineering; DX; and sustainability. It gives the reason for selecting each skill. The 90th AGM notice (May 2026) and Integrated Report 2026 carry the same matrix. Current matrix in English, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English5/5
Integrated Report 2026 (English, Compensation Committee section, pp. 94-95). Structure: directors who are not executive officers get fixed pay plus non-performance-linked stock. Executive officers get base pay (45%), a short-term incentive (25%) and a long-term stock incentive (30%), with the mix stated at plan achievement. Weights (p.95 table): the short-term incentive is 50.0% consolidated performance (ROIC against plan and CSV sales achievement) and 50.0% performance in assigned duties (each division's margin or sales measure against plan; for officers other than the President, a 5-point evaluation by the President), with the total multiplied by an environmental-impact coefficient (water savings, avoided GHG, resource recovery). The long-term incentive is 100.0% ROE, adjusted by a coefficient for TSR relative to TOPIX. Amounts for FY03/2026 by category and type: directors ¥201m (all fixed, including ¥122m non-performance stock); executive officers ¥489m (base ¥252m, STI ¥119m, LTI ¥117m); external officers ¥62m. Weights re-read 21 Oct 2026 (an earlier note gave ROE and TSR 50/50 by mistake). Structure, KPIs, weights and amounts by type, so 5. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of Convocation of the 90th Ordinary General Meeting posted in English on 28 May 2026 for a meeting on 25 June - 28 days - 69 pages with the reference documents for every proposal. Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the Japanese notice names the voting website, www.web54.net (Sumitomo Mitsui Trust Bank), which is in Japanese only, with no English option, as for ESPEC (6859) and Nitto Boseki (3110). Every proposal in English, but a Japanese-only voting route, so 4. Source document →
G6Shareholder vote results disclosed in English2/5
Notice of Resolution of the 90th Ordinary General Meeting, in English, 25 June 2026: each item 'approved and resolved as originally proposed'. The meeting page promises 'exercising voting rights results', but no counts or ratios are posted for 2026. Source document →
G7Cross-shareholdings in English with reduction schedule and rationale3/5
In English: the Corporate Governance Report (2 Jul 2026), Principle 1.4, gives the policy and rationale. Holdings serve to promote business and innovation and strengthen relationships; the board reviews each holding against the cost of capital and the transactions with the investee; the company 'strives to reduce' and sold four holdings in FY2025. Integrated Report 2026 (p.97, 'Strategic Shareholdings') charts the listed holdings: 22 names and ¥16,158m in 2022, falling to 5 names and ¥11,044m in 2026. There is no reduction target or schedule in English (nor in what was seen in Japanese). Policy, rationale, numbers and past reductions, but no target, so 3. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
On the English homepage (kurita-water.com/en/), 'Investor Relations' in the global navigation is a link to /en/ir/index.html. Clicking it in the rendered browser lands directly on the IR top; a mega-menu also opens on hover. One click, so 5. Source document →
O2English document links resolve to English documents5/5
We opened 24 English document links across types and years. Tanshin: Q1 FY03/2027, FY03/2026, FY03/2016. Decks: Q1 FY03/2027, FY03/2026 (58 pp), PSV-27 (2023), SR meeting (Mar 2026), sustainability briefing (Jan 2025). Q&A: Aug 2026, May 2020, the external directors' dialogue (Apr 2026). Also the 2019 financial summary, timely disclosures of 29 Jul 2026 and 28 Apr 2025, the 30 Sep 2026 news release, the 90th AGM notice and the 89th resolution notice, the CG report, the MD&A and financial statements (Sep 2026), Integrated Reports 2026, 2022 and 2013, and the 2020 financial section. Also the Financial Supplemental Data PDF, which is a bilingual Japanese/English file hosted under /jp/ (its English headings are complete). One link is mislabelled in its file name only: the FY03/2023 'Results Presentation' URL ends _jp.pdf but opens an English 23-page deck. All English, so 5. Source document →
O3English IR archive free of dead links5/5
In the same sample of 24 site-linked English documents, from 2013 to 2026, every link resolved to a live PDF (1 to 108 pp), as did the Historical Data xlsx and the quarterly Excel supplements. No dead links, so 5. Source document →
O4English IR pages render without blank JavaScript failures4/5
Every English IR page we rendered shows its content: IR top, IR Library, Earnings Report, Presentation Materials and Timely Disclosure (with the year selector), Integrated Report, MD&A, Download Materials, Historical Data, MTP, governance pages, the AGM page, Calendar and News. But the Euroland iframe is blocked by the site's own Content-Security-Policy, so the stock ticker on the IR top and the Stock Price page render as an empty grey box with Chrome's broken-frame icon. The Chart Generator page, whose only content is that iframe, is blank under its header. The data itself is available as the Historical Data xlsx. A widget fails and the content is there, so 4. Source document →
O5Single page listing all English IR documents by date and type4/5
The IR Library is split by type across separate pages (Earnings Report, Presentation Materials, Timely Disclosure, Integrated Report, MD&A, Download Materials), each dated with a fiscal-year selector, which alone would be a 3. But the English News list (/en/news/) carries every English IR document as it is posted: tanshin, decks, scripts, Q&A, supplemental data, timely disclosures, AGM notices and resolutions, CG report updates, the MD&A and report releases. It is dated, filterable by year and by category ('Financial Information', 'Stocks/Investor Relations', 'Management'). The categories are coarse rather than document types, and the list is mixed with business news. One dated all-types list, not typed by document, so 4. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep. Tanshin from FY03/2016 (e.g. 28 Apr 2016, 21 pp) to Q1 FY03/2027. Presentation Materials from FY03/2016, with Q&A summaries back to 2019. Timely disclosures from FY03/2016. Annual and Integrated Reports 2013-2026, with financial sections for 2020-2021. MD&A and statements FY03/2022-FY03/2026. AGM pages for the 79th to 90th meetings. Investor Kits (ZIP) for FY03/2022-FY03/2027 and the 10-year Excel. Several years across types, so 5. Source document →
O7Named English IR contact published3/5
The site-wide Inquiries page has a 'Shareholders/Investors' entry leading to a dedicated IR form ('Inquiries regarding information for shareholders and investors'), one of five corporate routes. But the IR section itself offers only the global Inquiries link, and an IR-specific 'Inquiries' link on the shareholder pages (/en/ir/contact/) returns 404. Dedicated, not obvious. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
Tanshin and deck are posted in English the same day as the Japanese, every period. English and Japanese listings: Q1 FY03/2027 tanshin and deck 6 Aug 2026 (both; scripted deck 7 Aug in both; Q&A 12 Aug in both). FY03/2026: 14 May 2026 (both). Q3: 5 Feb 2026 (both). H1: 7 Nov 2025 (both). Q1 FY03/2026: 6 Aug 2025 (both). The English PDFs' creation dates match. The FY03/2026 deck in both languages was re-uploaded on 18 Jun 2026 (creation date), but both list 14 May. Same day every period, so 5. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Lags, English against Japanese, from the two sites' listings. Q1 FY03/2027 tanshin: 6 Aug / 6 Aug = 0. FY03/2026 tanshin: 14 May / 14 May = 0. 90th AGM notice: 28 May / 28 May = 0. Corporate Governance Report: Japanese 'updated' 2 Jul 2026, English 'Corporate Governance Report Updated' 2 Jul 2026 (PDF created 1 Jul) = 0. Annual securities report: Japanese 有価証券報告書 23 Jun 2026; English 'MD&A and Consolidated Financial Statements' 18 Sep 2026 = 87 days. It is counted as a translation because it carries the MD&A, risks, full statements and auditor's report, not only the statements. Sorted 0, 0, 0, 0, 87: median 0, so 5. Source document →
R3Timely disclosures published in English5/5
From 15 Oct 2025 to 15 Oct 2026, the Japanese Timely Disclosure list and the management and stock categories of the Japanese news list have these items besides results: representative executive officer changes (24 Dec 2025, 26 Feb 2026, 30 Sep 2026); the executive system change (25 Mar 2026); candidates for directors (28 Apr); impairment and forecast revision and the Pentagon share transfer (13 May); buyback decision (14 May); dividend and the investment-unit policy (26 May); bond issue (12 Jun); company split (17 Jul); forecast revision (29 Jul); and buyback status or results (1 Jun, 1 Jul, 3 Aug, 1 Sep, 1 Oct, 2 Oct). Every one has an English counterpart on the English list with the same date. The Japanese-only items are e-public notices (電子公告) and the EDINET extraordinary report on voting, not timely disclosures. All, same day, so 5. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
We rendered the English homepage, IR top, Presentation Materials, the CG report page, Terms of Use and FAQ, and searched the visible text. We also searched the full text of the AGM notice, the CG report, Integrated Report 2026 and the tanshin. There is no machine- or AI-translation notice or pop-up anywhere; 'machine' appears only as 'machinery' and 'machine learning'. The AGM notice's 'the Japanese original ... shall prevail' is human-translation precedence language and belongs to R5. So 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The AGM notice and the notice of resolution say 'the latter [the Japanese original] shall prevail'. The tanshin and the Integrated Report 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 →
PSV-27 growth-investment and capital-efficiency plan
Strategy or target reset · In progress · Action announced 19 July 2023
Kurita set FY2028 growth and return targets and a five-year capital-investment program centered on electronics and service businesses.
Timeline and sources (2 steps)
- 19 July 2023Plan announced Kurita launched PSV-27 with ROE, ROIC, margin and growth priorities. Medium-Term Management Plan PSV-27
- 31 March 2025 · announced 1 October 2025Mid-plan progress reported FY2025 sales reached ¥408.9bn and ROIC 8.8% against FY2028 targets. Kurita Group Integrated Report 2025
What management said it would do
Kurita targets FY2028 sales of ¥470bn, 12% or higher ROE and 10% or higher ROIC, backed by roughly ¥300bn of investment.
From the company’s own disclosure · Medium-Term Management Plan PSV-27 · Kurita Group Integrated Report 2024
What it actually did, and when
FY2025 sales were ¥408.9bn and ROIC 8.8%, but project-level returns are not fully reconciled.
Partly disclosed — a gap remains · Kurita Group Integrated Report 2025
What it disclosed about the economics
Investment decisions use WACC plus a risk premium, with portfolio reviews and debt available if financial soundness permits.
Partly disclosed — a gap remains · Kurita Group Integrated Report 2024 · Medium-Term Management Plan PSV-27
What has happened since
The final FY2028 result is not due.
Partly disclosed — a gap remains · Medium-Term Management Plan PSV-27
The question this leaves open
Investor question: Which electronics and service investments are earning above hurdle rates? IR preparation: publish investment-cohort spend, returns and corrective actions.
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
Kurita plans roughly ¥300bn of five-year investment, about 80% for growth, while steadily raising dividends.
Capital structure
Debt may supplement operating cash flow once financial soundness is secured.
Governance of capital decisions
Projects use WACC plus a risk premium, and the board reviews business portfolios annually.
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.