SANYO DENKI CO., LTD.
Cite as: Japan IR Index, SANYO DENKI CO., LTD. (6516), methodology GNT-BDS v1.1.1, reviewed 2026-10-13.
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.
O2 English document links resolve to English documents 3/5 Quick fix
Check every link on the English IR pages; label any that open a Japanese document, or link the English version.
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”: 05 Board composition, election and removal, 13 Broader disclosure, 01 Excess capital and capital efficiency, 02 Price-to-book below 1 and the cost of capital. 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 (Electric Appliances) | 80.8 | 22 of 33 |
| Same size band (¥100–500bn) | 77.1 | 32 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, 27 scored 3 or more and 2 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 English4/5
FY2027 1st Quarter Consolidated Financial and Operating Results <IFRS>, headed 30 July 2026 to match the Japanese, 17 pages against the Japanese 15: summary, qualitative information on results, the statements and the segment note. The FY2026 full-year release has 27 pages against 25. Every quarter is in the English Earnings library (Q2, Q3, full year, Q1). They are complete, but the PDF creation dates run about four weeks behind the Japanese: Q2 28 Nov 2025 (JA 31 Oct), Q3 26 Feb 2026 (JA 29 Jan), full year 26 May 2026 (JA 27 Apr), Q1 31 Aug 2026 (JA 30 Jul). That timing is from PDF creation dates, since the library shows the Japanese date. Every period and complete, but weeks late. Source document →
F2English results summary is a full translation, not an excerpt5/5
We read the latest English tanshin, 'FY2027 1st Quarter Consolidated Financial and Operating Results <IFRS>' (headed 30 Jul 2026, 17 pages), against the Japanese 2027年3月期 第1四半期決算短信〔IFRS〕(連結) (15 pages). The English has all the summary pages: results, financial position, dividends, the full-year and first-half forecast, and the share data. Its table of contents matches the Japanese section for section: 1. qualitative information (operating results with a segment income table and a narrative per segment, financial position, forward-looking information); 2. the condensed statements (financial position, income and comprehensive income, changes in equity, cash flows); and notes on going concern, segment information and material subsequent events (the restricted-stock disposal). The Q2 and Q3 FY2026 releases (16 pp each) and the FY2026 full-year release (27 pp, including the non-consolidated statements) have the same structure. The whole tanshin, so 5. Timing is R1's question. Source document →
F3Financial statements including notes available in English5/5
The latest-period English tanshin (Q1 FY2027, three months to 30 Jun 2026) has the full condensed statements: financial position, income and comprehensive income, changes in equity for both periods, and cash flows. The notes follow (pp.12-14): going concern; segment information, with the reportable-segment overview, the segment tables for both periods and the reconciliation to profit before tax; and the subsequent restricted-stock disposal. The year end is also covered by 'Financial Statements 2026' (20 pp, posted 10 Jul 2026), the IFRS statements with notes. Full statements and notes for the latest period, so 5. Source document →
F4Annual securities report available in English in any form3/5
'Financial Statements 2026' (IR Library > Financial Statements, posted 10 July 2026, 20 pages) is an English extract of the annual securities report filed 17 June 2026. It has a financial review, the IFRS consolidated statements and the notes. It has none of the narrative parts (business overview, risks, facilities, shareholdings, governance) and no independent auditor's report. Financial statements only. Source document →
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are four reportable segments: San Ace Company (cooling fans), Electronics Company (power supplies, servo amplifiers, stepping drivers), Motion Company (servo and stepping motors) and Others (electrical equipment sales and works contracting). Every English tanshin (Q2, Q3, FY2026, Q1 FY2027) gives revenue from external customers, intersegment revenue and segment profit for each segment, reconciled to profit before tax. The qualitative section adds a segment income statement and the orders and backlog for each segment. Q1 FY2027: San Ace revenue ¥11,638m and profit ¥2,741m, Electronics ¥6,318m and ¥619m, Motion ¥12,727m and ¥768m. The note states how the segments are defined: separate financial information reviewed by the Board for resource allocation, set by business characteristics, with the main business of each. It also says intersegment prices are market-based and what the adjustments are. The same four segments are used throughout, and the decks and the Highlights > Segment Results page repeat them. Sales and profit by segment every period, with the definitions stated, so 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
There is no downloadable data file. We rendered all 20 English IR pages linked from the IR top: Highlights (Trends, Regional Results, Segment Results), the IR Library (Earnings, Financial Statements, Shareholders Meetings/Business Reports, Integrated Reports), IR Event pages, Stock Information, Policies and FAQ, plus the Information list. No link anywhere is .xls, .xlsx or .csv. What is there instead: HTML tables on /ir/highlights/trends.html (five years, FY3/2022-FY3/2026, of revenue, PBT, net profit, EPS, operating CF, equity/ROE and total assets/ROA), a three-year segment revenue table and a regional table, and the PDF Investor's Guide 2026 (39 pp, with charts). None of these counts.
F7Guidance disclosed in English with the basis explained5/5
The forecast is in English. The tanshin cover (FY2026 release, repeated unchanged in Q1 FY2027) gives the FY2027 (year to Mar 2027) forecast: revenue ¥128,850m (+20.0%), OP ¥16,290m, PBT ¥16,690m, net ¥12,000m, EPS ¥338.12, with a first-half split. The FY2026 tanshin's 'Future Outlook' gives the market view: a gradual recovery led by capex as US-tariff effects subside, with the Middle East and crude prices as risks. The English FY2025 Financial Results Briefing deck (74 pp) explains the basis further: growth 'driven by a semiconductor market recovery and continued AI-related demand'; the Middle East and China's rare-earth export restrictions as risks; a bookings/revenue/profit outlook by half (p.21); capex and R&D plans (p.31); and 'Reference: Consolidated Forecast by Business Company' (pp.69-70), with revenue and segment profit by company for H1 and H2. Segment profit forecast: San Ace 4.2/4.4, Electronics 1.2/1.7, Motion 2.0/2.4 (¥bn). No FX assumption is given. There was no earnings-forecast revision in the period. The Q1 tanshin says 'Revision to the business results forecast: None', and the 27 Apr 2026 dividend-forecast increase has its own English notice with reasons. Market view and segment forecasts make two of the three assumption types (ruling), so 5. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
The latest Japanese filing is the first-quarter tanshin for the three months to 30 June 2026 (30 July 2026). The English for the same quarter is on the IR site (PDF created 31 August 2026). The period is the same, about a month later, and the anchor judges the period, not the day. Source document →
S1Medium-term management plan in English with numerical targets5/5
The 10th Medium-Term Management Plan 'Turn the Time into Power' (FY2026-FY2030) was announced in English on 20 May 2026 (TDnet ID 140120260520541819, PDF created 20 May). That is the same day as the Japanese 第10次中期経営計画策定に関するお知らせ (ID 140120260520541777). Both run to 37 pages: a 2-page notice plus the plan deck. The quantified targets are all in the English: ROE of 10% or more against an estimated 7-9% cost of equity; a dividend payout ratio of about 50% with progressive dividends; a five-year capital allocation of ¥66bn+ operating CF, ¥33bn+ growth investment and ¥30bn+ dividends; and Scope 1-2 emissions down 46% by FY2030, carbon neutrality by 2050 and Eco Products at 80% of sales by FY2030. Same day, page for page with the Japanese, so 5. Source document →
S2IR presentations published in English4/5
The English FR Presentation page matches the Japanese item for item. It has a deck for every quarter: H1 results materials (39 pp), small-group-meeting decks for Q1, Q2, Q3 and Q4 and FY2026 Q1 (20 pp, 3 Sep 2026), and the FY2025 results briefing deck (74 pp) with the script version and the 3-page Q&A Summary. But it arrives late: by PDF creation dates the full-year deck and Q&A are from 24-26 June 2026 against the Japanese 22 May and 15 June, the Q3 deck from 22 April against 2 March, and the latest Q1 deck from 7 October against 9 September. The set is complete but delivered weeks late, so the floor of 4. Source document →
S3English equity-story or investment-highlights page4/5
There is no 'why invest' or investment-highlights page on the English IR site. Two investor-facing pieces do the job. The first is the 'SANYO DENKI Group Strengths' slide, in both the English 10th MTP deck (p.8) and the FY2025 results deck. It sets out core strengths along the value chain (performance-optimized custom design, extensive IP portfolio, multi-sourcing, industry-leading quality, a high-value-added high-margin model, broad market coverage, a global sales network, long-term customer relationships) under the line 'a business model built on 100 years of expertise - difficult to replicate'. The company-overview slide before it gives the brands, key applications (AI servers, semiconductor equipment), 9 production sites and 37 sales offices. The second is the 39-page English 'Investor's Guide' (2026, linked from the IR top). It covers the company overview and history, revenue and OP trends, revenue and profit by company and region, the dividend record and the MTP. The strengths are specific but unquantified, and the numbers sit in an overview rather than an equity story. Dedicated, but mostly qualitative, so 4. Source document →
S4Growth drivers identified and quantified in English4/5
The English 10th MTP deck names the drivers. Its 'External Environment' slide (p.16) cites AI and data-centre investment expanding cooling demand (a 'global AI-related investment cycle reaching hundreds of trillions of yen'), rising semiconductor demand, the energy transition, and supply chains shifting to Japan and ASEAN. The business-company pages name specific markets. San Ace: the AI-server market, European FA/HVAC, quick-freeze and refrigeration, liquid cooling, large fans. Electronics: semiconductor equipment, renewables and national-resilience sectors, physical AI through the Future Creation Center. Motion: semiconductor equipment, medical and space. Capacity comes from Philippines Plant 4 and the new Vietnam factory, opening 2027. Some of this is quantified: performance-outlook charts by company (FY2024-FY2026 forecast), ¥33bn+ growth investment, FY2026 capex ¥4.8bn including the Vietnam factory, segment forecasts by half in the results deck, and the SANUPS and SANMOTION revenue mix by application. There is no market size, share or contribution-to-target figure per driver. Named, some quantified, so 4. Source document →
S5Results-briefing transcripts or Q&A published in English4/5
Only one briefing has a published Q&A, in either language: the FY2025 (year to Mar 2026) results briefing of 21 May 2026. The Japanese '2026年3月期 決算説明会 質疑応答（サマリー）' is listed under 21 May, with an upload stamp of 15 Jun 2026 (20260615091532493s). The English 'FY 2025 Financial Results Briefing (Q&A Summary)' (3 pp) is listed under the same date, but its PDF was created 24 Jun and uploaded 29 Jun (20260629113757675s), about two weeks after the Japanese. Both FR Presentation pages show decks only for the H1 briefing (Nov 2025) and the small-group meetings. Every Q&A the Japanese side publishes has an English version, but later, so 4 (ruling). Source document →
S6Integrated or annual report available in English4/5
Integrated Report 2025 in English, 29 pages to the Japanese 2025 edition's 29. Its editorial policy gives the period as 1 April 2024 to 31 March 2025, and the PDF was created 20 November 2025, though it is listed under 19 September. The Japanese Integrated Report 2026 went up on 18 September 2026 and has no English counterpart yet. Complete, but one edition behind. Source document →
S7Progress against the previous plan, including misses, explained in English3/5
The English 10th MTP deck (20 May 2026, pp.9-13, repeated in the FY2025 results deck from p.39) has a 'Review of the 9th Medium-Term Management Plan' ('Break the Shell', FY2021-25). It reports 732 initiatives launched, record revenue and profit in FY2022, and the business-company system. It then sets the final year of the 8th plan against the final year of the 9th, FY2020 against FY2025: revenue ¥77.5bn to ¥107.3bn, gross margin 22.0% to 27.9%, OP ¥4.8bn (6.2%) to ¥10.8bn (10.1%), net ¥3.9bn to ¥8.6bn. A yearly revenue/OP chart and a note that the 9th-plan average ROE was 9.5% complete it. The achievements are narrated, and no 9th-plan target is set against an actual. The Japanese deck (37 pp) is the same. Progress narrated with numbers, not target against actual, so 3. Source document →
G1Corporate governance report available in English3/5
The English Sustainability > Governance page gives the basic policy, the governance structure (board, auditors, audit department, compensation committee) and a 'Corporate Governance Report' link. That link opens the Japanese TSE filing (コーポレートガバナンス, last updated 18 June 2026, 14 pages, all Japanese). No English Corporate Governance Report. A site narrative in place of the filing. Source document →
G2Director biographies in English with tenure, expertise and independence4/5
The 2026 (124th) AGM elected no directors; its 4-page English notice has only the dividend proposal. The current board of seven is the same seven names as on the English Officers page 'As of October, 2026'. It was elected at the 123rd AGM, whose English notice (posted 27 May 2025, 9 pp) profiles every candidate. Each profile has date of birth, a dated career history with board dates (e.g. Shigeo Yamamoto: Director Jun 1987, President 1994, Chairman 2020), responsibilities and shares held. Kurihara, Miyake and Miyagi are marked as outside and independent, with TSE registration noted. The outside directors also get reasons for selection, expected roles and stated tenure (4 years and 2 years). Expertise for all seven is covered by the English skill matrix (MTP deck p.32). The four inside directors' years on the board can only be read off the career dates, and they have no selection reasons. The source also dates from the previous AGM. All three elements, one of them thin, so 4. Source document →
G3Board skills matrix published in English5/5
The English 10th MTP deck (20 May 2026, p.32, 'Board of Directors Structure') has a skill matrix for all seven directors and the four Audit & Supervisory Board members. It covers nine skills: corporate philosophy, business management, manufacturing, technology/R&D/DX, sales/marketing, finance/accounting, legal/risk, global business and talent development. It sits alongside the independence ratios (3/7 independent outside directors) and the nomination criteria. The same matrix is on p.65 of the English FY2025 results deck. The people match the current English Officers page (as of Oct 2026), and no directors were elected in 2026. The current matrix in English, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English3/5
The English Integrated Report 2025 (pp.43-44, 'Executive compensation policies') sets out the structure: fixed monthly pay by responsibility; performance-based pay of 0 to about five times monthly pay, 'depending on the overall performance of the consolidated company in the previous fiscal year and the degree of performance of each director'; and restricted stock worth three times monthly pay. Outside directors get fixed pay only, and the Compensation Committee is described (chair Noriko Miyagi, independent outside director). FY2024 amounts are given by type: directors excluding outside ¥233m (base ¥157m, performance-based ¥50m, non-cash ¥26m, 4 people), outside directors ¥50m, auditors ¥19m, outside auditors ¥33m. No metric is named as the performance link and there are no weights. The amounts are FY2024; there is no FY2025 English business report or yuho. Structure and amounts, with no KPI (ruling: amounts without KPIs is 3), so 3. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 124th Annual General Meeting in English, posted 26 May 2026 (PDF created 22 May) for a meeting on 18 June, which is 23 days. It has 4 pages: the agenda, the reference documents for the one remaining proposal (Appropriation of Surplus, after the five shareholder proposals were withdrawn), and the voting methods in English (Internet via web54.net, or by mail) with instructions. The '(in Japanese language)' tag sits on the Net de Shoshu convocation site, not on the voting route. 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 English2/5
'Notice of Resolution of the 124th Annual General Meeting of Shareholders' (18 June 2026, 1 page) says the proposal 'was approved and resolved as originally proposed' and sets the dividend at 70 yen. It gives no vote counts or ratios. The English news list and the Shareholders Meetings library hold nothing else. The outcome only. Source document →
G7Cross-shareholdings in English with reduction schedule and rationale0/5
We found no English disclosure on cross-shareholdings. The 'Corporate Governance Report' link on the English Governance page opens the Japanese filing (updated 18 Jun 2026); its 原則1-4 政策保有株式 policy has no English version. 'Financial Statements 2026' gives only the generic FVOCI accounting policy and a fair-value table (FVOCI shares ¥12,833m), with no holdings policy, count or reduction plan. We searched the text of the English Integrated Report 2025, the 10th MTP deck, the FY2025 results deck, the March 2026 cost-of-capital update and the 123rd and 124th AGM notices: none mentions cross- or strategic shareholdings. The statutory disclosure exists only in the Japanese yuho and CG report.
O1English IR section reachable within two clicks of the English homepage5/5
The English homepage (www.sanyodenki.com) has 'IR' in its top navigation, linking /ir/index.html. Clicking it in the rendered browser lands directly on the IR top. One click, so 5. Source document →
O2English document links resolve to English documents3/5
We opened 22 English-labelled document links across types and years. Tanshin: Q1 FY2027, FY2026, Q3 and Q2 FY2026, FY2016 full year (37 pp). Decks: FY2025 results materials (74 pp) and its script version, FY2026 Q1 small-group deck, FY2019 results materials. Also: the FY2025 Q&A summary, the 10th MTP, the Mar 2026 cost-of-capital update, Financial Statements 2026, Integrated Reports 2025, 2024 and 2019, the 123rd and 124th AGM notices, the 124th resolutions, the 124th semiannual report, the Investor's Guide 2026 and the 6 Aug 2026 treasury-share notice. All are English. The exception is the link labelled 'Corporate Governance Report' on Sustainability > Governance, which the IR Policies page links as 'Corporate Governance'. It opens the Japanese コーポレートガバナンス filing (14 pp, updated 18 Jun 2026), and nothing marks it as Japanese. One unlabelled Japanese document, so 3. Source document →
O3English IR archive free of dead links5/5
Every link in the same sample of 22 English documents, from 2016 to 2026, plus the 2005 flash report found through the Earnings year selector, resolved to 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 all 20 English IR pages linked from the IR top in Chrome, plus the homepage, Information and Conditions of Use: the IR top (news and latest-materials block), Policies, Message, Highlights (Trends, Regional, Segment tables), the IR Library pages, the IR Event pages (FR Presentation, IR Calendar, Shareholders Meetings), Stock Information, Shareholder Information, Notifications and FAQ. Every page rendered its content. The year selectors repopulated their lists (Earnings back to FY2005, Information to 2015). Notifications says 'No applicable items of present', which is content, not a failure. The share-price link goes to a third-party site and is not counted. So 5. Source document →
O5Single page listing all English IR documents by date and type5/5
The 'Information' page (/corporate/information.html, the IR top's 'Backnumber' link) is one dated list of every English IR document. Each entry has a date and a type: Financial (tanshin, Financial Statements), TSE (timely disclosures, MTP, dividends), IR (decks, script, Q&A summary, AGM notices and resolutions, semiannual reports, integrated reports) or Info. It has type filters (All/Financial/TSE/IR/Info) and a year selector back to 2000. The 2025 view, for example, has Integrated Report 2025, Financial Statements 2025, the 123rd AGM notice, the decks, the tanshin and all the TSE notices. The IR Library also splits the same documents by type, each with a year selector. One page, every type, dated and typed, so 5. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep. The English Earnings library's year selector runs from FY2001; We opened the FY3/2005 flash report and the FY2016 quarterly releases. Financial Statements go back to FY2002 and the Information list back to 2000 (2015 checked: semiannual report, tanshin and notices). Integrated Reports are there for 2019, 2024 and 2025 (opened), and FR Presentation decks from FY2019 (opened). Several years across document types, so 5. Source document →
O7Named English IR contact published2/5
The English IR top and IR menu have no contact link. The IR FAQ says to 'send an inquiry from our Contacts page'. That page offers only Global Network, which lists overseas sales subsidiaries with no Japan head office or IR entry, and Distributors. There is no form, address or phone for IR. The English tanshin names Masaki Iwayama, Executive Operating Officer for Business Administration, +81-3-5927-1020. Named only in the document header, with no IR route on the site. Source document →
R1Earnings materials published in English simultaneously with Japanese2/5
The English library lists each document under the Japanese release date, but the English appeared later. The English tanshin carry TDnet IDs and PDF creation dates about a month after the Japanese. Q2 FY2026: JA 31 Oct 2025, EN ID 20251128 = 28 days. Q3: JA 29 Jan 2026, EN 27 Feb = 29. FY2026: JA 27 Apr, EN 27 May (created 26 May) = 30. Q1 FY2027: JA 30 Jul, EN 1 Sep (created 31 Aug) = 33. The decks, compared by xj-storage upload stamps on the two FR Presentation pages: H1 JA 19 Nov, EN 25 Nov (6 days); Q2 small-group JA 9 Jan, EN 6 Mar (56); Q3 JA 2 Mar, EN 22 Apr (51); FY results deck JA 22 May, EN 29 Jun (created 26 Jun, 35-38); Q4 small-group JA 6 Jul, EN 14 Sep (70); Q1 FY2027 JA 9 Sep, EN 8 Oct (29). No tanshin is same-day. The tanshin run four to five weeks behind, the latest more than a month, and most decks more than a month. On the border of 3 and 2, we record the floor, 2. Source document →
R2Median lag in days between Japanese and English statutory publication2/5
Lags, English against Japanese. Q1 FY2027 tanshin: JA 30 Jul 2026, EN 1 Sep (TDnet ID 140120260901529915; PDF created 31 Aug) = 33 days. FY2026 tanshin: JA 27 Apr, EN 27 May (ID 140120260527549824) = 30. 124th AGM notice: JA posted 26 May 2026, EN listed 26 May (PDF created 22 May) = 0. Corporate Governance Report: JA updated 18 Jun 2026, no English (the English site links the Japanese filing) = >90. Annual securities report: JA filed 17 Jun 2026; the English is only 'Financial Statements 2026' (10 Jul), statements and notes, which is not a translation of the yuho = >90 (ruling). The tanshin dates come from TDnet IDs and PDF creation dates, since the English listing repeats the Japanese date. Sorted: 0, 30, 33, >90, >90. Median 33 days, so 2. Source document →
R3Timely disclosures published in English5/5
We compared the Japanese Information list filtered to 適時開示, 16 Oct 2025 to 15 Oct 2026, with the English list filtered to TSE. Results are R1's and are excluded. All 11 Japanese timely disclosures have an English version listed the same day, and the paired TDnet IDs carry the same date on both sides: Vietnam subsidiary (17 Dec 2025); cost-of-capital update (19 Mar 2026); Nomination Committee (15 Apr); receipt of a shareholder proposal (21 Apr); dividend forecast increase (27 Apr, both IDs 20260424); board opinion on the shareholder proposal and the surplus dividend (18 May); 10th MTP (20 May); withdrawal of the shareholder proposals (21 May); restricted-stock disposal (15 Jul) and its payment completion (6 Aug). All, same day, so 5. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
We rendered the English homepage, all 20 IR pages, the Information list, Governance and Conditions of Use, and searched the visible text for machine, automatic or AI translation. Nothing: no translation pop-up, no machine-translation notice, and no website-translation clause in the Conditions of Use. The documents carry only human-translation precedence language ('translated from the Japanese original for reference purposes only ... the original shall prevail'), which is R5's. So 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
These documents say 'the original shall prevail': the tanshin (p1), the FY2025 results briefing deck (p74), the Q3 small-group-meeting deck, the AGM notice and the notice of resolution. These carry no such statement: the Integrated Report 2025, the Financial Statements 2026, the Q&A Summary and the latest Q1 small-group deck. 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 2026-10-13. Compare this question across companies →
Capital-policy review
Not scored. 1 action has been reviewed; a score out of 100 is published once 3 or more are. The ratings:
Each action is read against the company’s own filings on four checks: was the promise specific, can the steps be traced, were the economics explained, and did it report back against the target. This records the status of selected actions, not an assessment of the company as a whole. How this is scored →
Semiconductor motion control, cooling and five-year capital allocation
Strategy or target reset · In progress · Plan or update announced 20 May 2026
The five-year plan covers April 2026-March 2031; its capital and ROE outcomes remain ahead.
Timeline and sources (1 step)
- 20 May 2026Plan or update announced The five-year plan covers April 2026-March 2031; its capital and ROE outcomes remain ahead. 10th Medium-Term Management Plan
What management said it would do
The plan identifies growth investment, shareholder returns and an ROE objective.
From the company’s own disclosure · 10th Medium-Term Management Plan
What it actually did, and when
Production and product initiatives are described; completed five-year outcomes are pending.
Partly disclosed — a gap remains · 10th Medium-Term Management Plan · Company Profile 2026-2027
What it disclosed about the economics
Cash allocation and equity-cost assumptions provide an economic framework.
Partly disclosed — a gap remains · 10th Medium-Term Management Plan · Company Profile 2026-2027
What has happened since
The endpoint is March 2031.
Partly disclosed — a gap remains · 10th Medium-Term Management Plan · Company Profile 2026-2027
The question this leaves open
Investor question: What are project paybacks and utilization hurdles for Vietnam and semiconductor capacity? IR preparation: reconcile approved spend, commissioning and incremental returns.
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
The plan allocates at least ¥33bn to growth and at least ¥30bn to shareholder returns against operating cash flow of at least ¥66bn over FY2026-FY2030.
Capital structure
Cash balances and interest-bearing debt supplement operating cash flow. A quantified leverage corridor is not established in the selected plan.
Governance of capital decisions
The plan compares a minimum 10% ROE objective with an assumed 7-9% equity cost and targets semiconductor motion-control and AI cooling growth.
Preliminary and not scored: a selected-source reading, reviewed 1 October 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.