CKD Corporation
Cite as: Japan IR Index, CKD Corporation (6407), 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.
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.
G6 Shareholder vote results disclosed in English 2/5 Quick fix
Publish the vote counts from the Japanese extraordinary report in English.
O5 Single page listing all English IR documents by date and type 3/5 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 | 17 of 39 |
| Same size band (¥100–500bn) | 77.1 | 18 of 50 |
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, 28 scored 3 or more and 3 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 Three Months Ended June 30, 2026, 10 August 2026 (reissued 7 October with the completed interim review): 11 pages with the overview of business results by segment, the statements and the notes on segment information. Every quarter is in the English IR news. Source document →
F2English results summary is a full translation, not an excerpt5/5
We read the Q1 FY3/2027 tanshin against the Japanese, both posted 10 Aug 2026. 'Consolidated Financial Results for the Three Months Ended June 30, 2026 (Under Japanese GAAP)' is 11 pages, the same as the Japanese 2027年3月期第1四半期決算短信 (11; eir-parts tdnet/2869812). Both have the same table of contents: the summary pages; 1. Overview of Business Results (operating results, a narrative for each of the two segments, Automatic Machinery and Components, financial position, and the forecast revision with its FX assumption); 2. the quarterly balance sheet, income and comprehensive income statements; the notes (going concern, shareholders' equity, segment information, cash flow statement note); and 3. Others (production, orders and sales by segment). The 7 Oct 2026 reissue after the interim review is 12 English pages to 14 Japanese; the difference is the review-completion wrapper, not the substance. Whole tanshin, so 5. Source document →
F3Financial statements including notes available in English5/5
The latest-period English tanshin (Q1 FY3/2027, 10 Aug 2026) has the full quarterly balance sheet, income statement and comprehensive income statement, and the notes: going concern, shareholders' equity, segment information with the reconciliation, and the cash flow note (no quarterly cash flow statement is prepared in either language). The year-end English tanshin (15 May 2026, 25 pages) has all four statements and the full notes, including accounting estimates and the segment note. Full statements and notes for the latest period, so 5. Source document →
F4Annual securities report available in English in any form0/5
The English IR library offers consolidated financial reports, business summaries, presentations and the CKD Report. No securities report in English under any name.
F5Segment revenue and profit disclosed in English, consistent definitions5/5
Two reporting segments, Automatic Machinery and Components. Every English tanshin gives net sales and segment profit for each; Q1 FY3/2027: Automatic Machinery ¥3,036m sales and Components ¥46,072m, with segment profit and a narrative for each. The FY3/2026 tanshin's segment note (p.17) defines the segments ('product segments ... two reporting segments'), states that segment income is operating profit, and reconciles adjustments (¥(5,060)m corporate expenses) and segment assets for both years. The decks add sub-segment trends (pneumatic and fluid-control components) and the English site has a Segment Information page. Every period, defined, so 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
No downloadable data file. We scanned the English Financial and Business Performance Summary pages (/en/ir/highlight/, Major Financial Index, Segment Information), the IR Library and ESG Data for .xls/.xlsx/.csv links: none. What exists instead is HTML tables for FY3/2022-FY3/2026 (P&L, balance sheet, cash flow) and the 11-Year Summary in the CKD Report PDF. The Japanese highlight page has no spreadsheet either. An HTML table or PDF does not count, so not found.
F7Guidance disclosed in English with the basis explained5/5
The full-year FY3/2027 forecast is in English with its basis. The Q1 tanshin (10 Aug 2026) revises it upward to sales ¥193.0bn, OP ¥28.5bn, ordinary profit ¥28.5bn, net ¥19.0bn, explains why (semiconductor-related demand in Components far above the initial plan and current order trends) and states the FX assumption, USD 1 = JPY 151; a separate English 'Notice of Revisions in Consolidated Financial Forecasts...' was posted the same day. The English Q1 deck (pp.11-14) gives the segment forecasts initial versus revised (Components sales 162.0 to 175.0, segment income 25.9 to 30.0, with pneumatic and fluid-control splits) and a market view by industry and region (e.g. semiconductor index 140, automotive 94). FX, market view and segment forecasts plus 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 10 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 Sixth Mid-Term Management Plan 'All CKD Together 2028' (FY2027/3-FY2029/3) under the new 'CKD VISION 2035', presented 15 May 2026. The English deck 'New 10-Year VISION / New Mid-Term Management Plan' is 33 pages, the same as the Japanese 新10年VISION・中期経営計画 (33), and both were listed on 15 May 2026 (English IR News same day; the English PDF's creation date is 27 Aug, a re-save, the Japanese file is also re-saved 28 May). The targets: sales ¥190bn or more, operating margin 13.7% or more, ROE 10% or more and a 40% payout guideline for FY2029/3; the 2035 vision targets of sales ¥260bn+, OP ¥40bn+, margin 15%+; and a three-year cash allocation. Complete and current, so 5. Source document →
S2IR presentations published in English4/5
An English presentation for every quarter (Q1 FY2027, 19 pages), listed on 10 August like the Japanese (both files carry a 24 August re-save date). But the Japanese side's Q&A summaries for the Q1 web conference (1 September) and the full-year briefing (3 June) have no English counterpart: decks without the Q&A, 4. (Reason corrected 16 Oct 2026; the 12 Oct version called the English deck two weeks late.) Source document →
S3English equity-story or investment-highlights page4/5
No 'why invest' or investment-highlights page on the English IR site. The English IR Library carries a 'Business Summary' deck (13 pp, updated 17 Aug 2026) built for investors: corporate profile, principles, the two businesses and their products, the key automation technologies, ten-year sales/OP/margin trends with the FY3/2027 forecast, and segment performance trends. The English CKD Report 2025 has 'CKD at a glance' (sales by business and region, segment figures) and a 'CKD's Strengths' section (top share in Japan in pharmaceutical packaging machines, three named strengths). Dedicated and specific, but the strengths themselves are framed qualitatively, so 4. Source document →
S4Growth drivers identified and quantified in English4/5
The English MTP deck (15 May 2026) names the growth drivers: four focus industries (advanced semiconductor front-end and back-end, life sciences/pharmaceutical packaging services, energy and environment including rechargeable batteries and hydrogen, and overseas business by region, India among them), the shift to service/maintenance models, and R&D. Numbers are attached partly: the plan's sales and margin targets and cash allocation, and in the English Q1 deck the Components forecast split into pneumatic and fluid-control components (fluid control 95.0 to 103.0bn) with industry demand indices by region. There is no market size, share or contribution-to-target per driver. Named, some quantified, so 4. Source document →
S5Results-briefing transcripts or Q&A published in English0/5
Not found in English. The Japanese IR presentation page publishes a Q&A summary for every briefing: 2027年3月期 第1四半期決算説明会 Q&Aサマリー (1 Sep 2026), the FY3/2026 and new MTP briefing Q&A (3 Jun 2026), Q3 (11 Mar 2026), Q2 (28 Nov 2025) and earlier, plus a Q&A for the AGM (106Q&A.pdf). The English IR Presentations page (/en/ir/kessan/) and the English IR News list carry decks only, with no Q&A, transcript or summary for any briefing. Japanese only, so not_found under the ruling.
S6Integrated or annual report available in English4/5
CKD Report 2025 (integrated report) in English, 38 pages, December 2025; it states it covers fiscal 2024 (the year ended March 2025). One edition behind the year since closed. Source document →
S7Progress against the previous plan, including misses, explained in English4/5
The English MTP deck (pp.5-7) reviews the previous plan 'Exciting CKD 2025' target against actual for its final year: net sales ¥157.9bn vs ¥180bn target, OP ¥19.6bn vs ¥25bn, ROE 9.4% vs 10-13%, payout about 40% vs the 40% guideline; it explains the miss ('could not achieve sales target of 180 billion JPY due to delayed recovery in semiconductor market') and sets the four-year cash allocation plan against the result (operating CF 52.7 vs 80.0+, growth investment 40.3 vs 60.0, returns 19.3). It also reviews the ten-year vision 'GO CKD!' (¥150bn sales target achieved ahead of schedule). Dated reconciliation with the variance explained, so 5 (the explanation is one line covering the sales shortfall that drives the others). Set to 4 in review, 16 Oct 2026: the reconciliation is complete but the misses (OP, ROE) are explained only by one line about the sales shortfall; as for Kurita, the reconciliation without the explanation is 4. Source document →
G1Corporate governance report available in English5/5
The Corporate Governance Report in English, 25 pages, 'Last Update: June 29, 2026', with the Basic Policy on Corporate Governance, on the English corporate governance page. Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English notice of the 106th AGM (June 2026; the transition to a company with an audit and supervisory committee meant the whole board was elected) profiles all ten candidates: six directors (pp.10-13) and four audit and supervisory committee members (pp.15-17). Each has date of birth, a dated career history, years in office (e.g. Kajimoto 22 years, Okuoka 10, 'new election' where applicable), attendance, shares held and reasons for nomination; the outside candidates are marked 'Independent Director' with their independence reasoning, and p.18 gives the independence criteria. The p.19 composition table lists all ten with years in office, independence and committee seats. Every director, all three elements, so 5. Source document →
G3Board skills matrix published in English5/5
The English 106th AGM notice (p.20) has the skills matrix for the board after 26 June 2026: all ten directors (six directors and four audit and supervisory committee members) against nine skills - corporate management; manufacturing, technology and R&D; quality and safety; sales and marketing; finance and accounting; legal affairs and risk management; DX and IT; sustainability and environment; international experience - with each skill defined on p.21. Current and complete, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English5/5
Structure: the English AGM notice business report (pp.35-36) sets out basic remuneration (about 30-70%), performance-linked cash (about 20-40%) and restricted stock (about 5-20%), with outside directors on fixed pay only. KPIs and weights: the English CKD Report 2025 (pp.61-62) gives the weighting by indicator - net sales 15%, operating profit 20%, operating margin 15%, ROE 10%, CO2 10%, waste 5%, water 5%, female managers 10%, non-Japanese directors at overseas bases 10% - and the notice reports FY2025 achievement rates of 51-100%. Amounts by type: directors ¥193m total = basic ¥88m, performance-linked ¥69m, restricted stock ¥35m (6 persons); A&SB members ¥46m. All three, with amounts broken down by pay type, so 5. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 106th Annual General Meeting in English (file dated 1 June 2026) for a meeting on 26 June - about 25 days - 74 pages with every proposal's reference documents, including the transition to a company with an audit and supervisory committee. An English supplementary explanation of Proposal No. 6 followed on 22 June. Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the voting website named in the English notice, www.soukai-portal.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 English2/5
Notice of Resolutions of the 106th Ordinary General Meeting, in English, 26 June 2026: each proposal approved 'as originally proposed', with those elected named. No vote counts, no approval ratios. Source document →
G7Cross-shareholdings in English with reduction schedule and rationale3/5
The English Corporate Governance Report (Principle 1.4) and the CKD Report 2025 (Corporate Governance section) state the policy: no cross-shareholdings unless they enhance corporate value; shares whose significance has diminished are sold 'in a phased way'; the board reviews each holding every year on market value, ROE and dividend yield. The CKD Report gives the numbers: amount of cross-shareholdings and number of issues FY2021-FY2025 (¥7.9-11.2bn, 28-32 issues) and their share of net assets (6.09% at March 2025, down from 8.68%). There is no reduction target or schedule. Policy and numbers, no target, so 3. Source document →
O1English IR section reachable within two clicks of the English homepage5/5
On the English homepage (www.ckd.co.jp/en/) 'Investor Relations' in the global navigation is itself a link to /en/ir/ (the mega-menu items under it are extra). One click to the English IR top, so 5. Source document →
O2English document links resolve to English documents5/5
We sampled 31 English document links across types and years: tanshin 10 Aug 2026, 7 Oct 2026 (review-completed reissue), 15 May 2026, 13 Feb 2026, 14 Nov 2025, Nov 2022 (.pdf.pdf), FY3/2020, FY3/2018; decks Q1 FY2027, FY3/2026, Q3 and H1 FY3/2026, H1 FY3/2022, FY2017/18; the new MTP and the Fifth MTP 'Exciting CKD 2025'; AGM notices 101st-106th and the 102nd internet disclosure; resolution notices 101st-106th; the CG report; CKD Reports 2019, 2022, 2025 (full and section); Business Summary; the 7 Oct 2026 secondary-offering notice. Every one is English (no CJK text). Two labelling slips only: the 104th and 105th notices are both captioned 'April 1, 2023 - March 31, 2024', and the newsletter page openly links its Japanese version, saying there is no English from the 104th term. All English, so 5. Source document →
O3English IR archive free of dead links5/5
In the same 31-link sample, 2018-2026, every link opened a live PDF (1 to 74 pages). No dead links, so 5. Source document →
O4English IR pages render without blank JavaScript failures5/5
We rendered the English homepage, IR top, IR News, IR Calendar, the financial summary pages, the four IR Library pages, the AGM, share status, analyst coverage, shareholder information, bond/rating, newsletter, IR policy and caution pages. All render their content: the lists are populated, the data tables fill, the newsletter page shows its back numbers with an explicit note, and the bond page says there are no bonds outstanding. No blank widgets, so 5. Source document →
O5Single page listing all English IR documents by date and type3/5
The English documents are split by type: Consolidated Financial Reports (tanshin and TD notices, each with a date), IR Presentations (by year, with dates), Integrated Report (by edition), Business Summaries (dated), and the AGM materials on a separate Stock Information page (by meeting). The English IR News list is dated but untyped and does not carry everything: it shows 2024-2026 only, and the 2025 and 2026 AGM notices, the CG report and CKD Report 2025 are not on it. Split across several pages by type, each dated, so 3. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep: tanshin for every quarter from FY3/2018 (May 2018) to Q1 FY3/2027, decks from FY2017/18 to Q1 FY2027 plus both MTPs, AGM notices and resolution notices 101st-106th (2021-2026), CKD Reports 2019-2025, newsletters 2018-2022. Several years across types, so 5. Source document →
O7Named English IR contact published2/5
Named in the tanshin header - Kazuhide Yoshikawa, General Manager, Accounting Dept. The IR top's only contact link is the site-wide 'Contacts' page, which offers component-product, automatic-machinery and 'Others' forms. No IR route. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
Listing dates, English against Japanese (English IR News and tanshin library vs the Japanese IR news and library; TDnet via kabutan for the tanshin): Q1 FY3/2027 tanshin and deck 10 Aug / 10 Aug (TDnet both 15:30); FY3/2026 15 May / 15 May (TDnet 16:20 both); Q3 FY3/2026 13 Feb / 13 Feb (TDnet 15:30 both); H1 FY3/2026 14 Nov / 14 Nov. The English Q1 tanshin PDF was created 6 Aug, before release. The decks' PDF creation dates are later than their listings (Q1 24 Aug, FY 28 May, Q3 8 Jun), but the Japanese deck files carry the identical re-save dates, so they show re-uploads in both languages, not English lateness; the H1 English deck was created on its 14 Nov listing day. Same day every period read, so 5. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Lags, English against Japanese, from TDnet (kabutan) and the sites. Q1 FY3/2027 tanshin: 10 Aug / 10 Aug = 0. FY3/2026 tanshin: 15 May / 15 May = 0. 106th AGM notice: TDnet 3 Jun 08:00 both = 0 (English file created 1 Jun). Corporate Governance Report: Japanese 29 Jun 09:48, English 29 Jun 11:20 = 0. Annual securities report: Japanese 25 Jun 2026, no English, so more than 90. Sorted 0, 0, 0, 0, >90: median 0, so 5. Source document →
R3Timely disclosures published in English5/5
TDnet (rendered on kabutan) from Oct 2025 to Oct 2026, Japanese against English: 7 Oct 2026 share repurchase, secondary offering and the review-completed Q1 tanshin (all English 16:00 same minute); 10 Aug forecast and dividend revision; 24 Jul and 26 Jun restricted-stock disposals; 9 Jul arrest of a former subsidiary employee; 15 May dividend, articles amendment and officer changes for the committee transition; 27 Mar transition to an audit and supervisory committee and RS completion; 13 Feb RS disposal; 14 Nov 2025 forecast/dividend revision and shareholder benefit change. Every one has an English TDnet filing at the same minute, also on the English IR News list; the supplementary explanation of Proposal 6 went out in English on 20 Jun, a day before the Japanese. Only the articles of incorporation and the independent-officer filing (not timely disclosures of these types) are Japanese-only. All, same day, so 5. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
We rendered the English homepage, IR top, Cautions for Users, privacy policy and site map and searched the visible text: no machine- or AI-translation notice and no translation pop-up. The documents carry only human-translation precedence language ('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 notice of resolutions, the Corporate Governance Report, the presentation and the CKD 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 →
FY2026–FY2028 advanced-semiconductor and capital-allocation plan
Strategy or target reset · In progress · Plan announced 15 May 2026
CKD set FY2028 operating and return targets and a three-year allocation across growth, R&D, foundations and shareholder returns.
Timeline and sources (1 step)
- 15 May 2026Plan announced CKD set FY2028 operating and return targets and a three-year allocation across growth, R&D, foundations and shareholder returns. New 10-Year Vision and Sixth Mid-Term Management Plan
What management said it would do
Management targets at least ¥190bn sales, 13.7% operating margin and 10% ROE by FY2028.
From the company’s own disclosure · New 10-Year Vision and Sixth Mid-Term Management Plan
What it actually did, and when
The plan has begun; complete deployment and realized returns are not yet available.
Partly disclosed — a gap remains · New 10-Year Vision and Sixth Mid-Term Management Plan · Management Strategies
What it disclosed about the economics
CKD allocates ¥20bn to growth, ¥12bn to R&D, ¥10bn to foundations and ¥19.5bn to returns.
Partly disclosed — a gap remains · New 10-Year Vision and Sixth Mid-Term Management Plan · Management Strategies
What has happened since
The FY2028 result is not due.
Partly disclosed — a gap remains · New 10-Year Vision and Sixth Mid-Term Management Plan
The question this leaves open
Investor question: What semiconductor products and projects drive the margin step-up? IR preparation: disclose investment, pipeline, milestones 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
CKD plans ¥20bn of growth investment, ¥12bn of R&D and ¥10bn of foundation investment from ¥66.5bn of three-year operating cash flow.
Capital structure
The cash plan includes ¥19.5bn of shareholder returns and flexible financing, with a 40% payout target and stable-dividend floor.
Governance of capital decisions
The new plan identifies advanced semiconductors as a focus industry and discloses sales, margin, ROE and cash-allocation targets.
Preliminary and not scored: a selected-source reading, reviewed 29 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.