Hirose Electric Co., Ltd.
Cite as: Japan IR Index, Hirose Electric Co., Ltd. (6806), methodology GNT-BDS v1.1.1, reviewed 2026-10-12.
Findings and sources as of the review date shown. The company’s English disclosure may have changed since.
Where to start
Chosen from this company's lowest answers, easiest first. A quick fix uses material the company already has; a translation fix is usually met by translating a Japanese document (our note says whether this company has one). Questions that need a budget or a board decision are left out. Suggestions drawn from the research, separate from the scores.
F6 Multi-year financial data file (Excel or CSV) downloadable in English 0/5 Quick fix
Post the financial figures the company already publishes as an Excel or CSV file with English labels.
G6 Shareholder vote results disclosed in English 0/5 Quick fix
Publish the vote counts from the Japanese extraordinary report in English.
O7 Named English IR contact published 2/5 Quick fix
Link a dedicated IR contact (form, address or e-mail) from the English IR section.
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) and 1 changed under a rule change between 21 Oct 2026 and 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 (Electric Appliances) | 80.8 | 17 of 33 |
| Same size band (¥500bn–2tn) | 84.2 | 29 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, 29 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 (IFRS), 4 August 2026 with the Japanese: 15 pages against the Japanese 13, with the qualitative review by segment, the statements and the segment note. The full-year release (11 May 2026) is 17 pages against 15. Every quarter is in the English library on the Japanese date. Source document →
F2English results summary is a full translation, not an excerpt5/5
The latest English tanshin, 'Consolidated Financial Results for the Three Months Ended June 30, 2026 (IFRS)' (4 Aug 2026, created 4 Aug), is 15 pages against 13 for the Japanese 2027年3月期 第1四半期決算短信. The sections match one for one. Summary pages: results, dividends, the forecast, notes and share counts. 1. Overview: operating results with a narrative for each of the three segments, financial position, cash flows, and the Future Outlook with the revised H1/FY forecast tables and FX rates. 2. Condensed statements: financial position, P&L and comprehensive income, changes in equity, cash flows. Notes: going concern, the segment note with geographic revenue, and a subsequent-event note on the buyback. The FY3/2026 year-end tanshin (11 May 2026) is 17 pages against 15. The whole tanshin, so 5. Source document →
F3Financial statements including notes available in English5/5
The Q1 FY3/2027 English tanshin (4 Aug 2026) has the full condensed statements: financial position, profit or loss and comprehensive income, changes in equity, and cash flows. It also has the notes: going concern, the segment information (overview of reportable segments, revenue and operating profit by segment for both periods with the reconciliation to profit before tax, geographic revenue) and the subsequent event. The English Interim Financial Report (13 Nov 2025, 27 pp, a translation of the 半期報告書) gives the H1 statements with notes as well. Full statements and notes for the latest period, so 5. Source document →
F4Annual securities report available in English in any form0/5
The English 'Annual & Semiannual Securities Reports' page lists only the Interim Financial Report (13 Nov 2025, 27 pages, a translation of the hanki houkokusho) and older quarterly reports; the Japanese page has the 有価証券報告書 filed 24 June 2026 and earlier years. No annual securities report in English under any name in the IR library, results or integrated-report pages.
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are two reportable segments, Multi-pin connectors and Coaxial connectors, plus Others. Every English tanshin gives revenue and operating profit for each. Q1 FY3/2027: multi-pin ¥54,125m and ¥11,532m; coaxial ¥5,246m and ¥1,468m; Others ¥2,714m and ¥338m. The segment note states the definitions: segments are set by product, based on the shape of connector; what each segment contains is listed; segment profit is operating income, on the accounting basis of the consolidated statements. The figures reconcile to profit before tax, with geographic revenue alongside. The qualitative section discusses each segment. The deck adds sales by market segment (general industrial, smartphone, consumer/mobile, automotive, telecom) with FY forecasts. Every period, definitions stated, so 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English0/5
There is no downloadable data file. The English Business & Financial Data > Financial Information page is an HTML table only: revenue, OP, PBT, net profit, EPS, DPS, total assets, equity, ROE, ROA, the three cash flows, capex, D&A and R&D for FY2020-FY2025, with no download link. The At a Glance page has KPI tiles. The rendered link lists of the Financial Information, Integrated Reports, ESG Data and securities-report pages have no .xls, .xlsx, .csv or .zip. The Integrated Report data section is a 3-page PDF. The Japanese 財務情報 page has no spreadsheet either.
F7Guidance disclosed in English with the basis explained5/5
The forecast and its basis are both in English. The FY3/2026 tanshin (11 May 2026) gives the FY3/2027 forecast (revenue ¥230bn, OP ¥46bn) with a market view, and FX at US$1 = ¥150, €1 = ¥183, KRW1 = ¥0.105. The FY deck (12 May 2026, 28 pp) has three further pieces. p19: the forecast for H1 and the year against actuals, with FX. p20: sales forecasts by market segment (general industrial +15%, automotive/mobility +10%, smartphone -3% and so on). p23: an OP bridge of variable factors (volume +¥11bn, materials -¥8bn, price optimisation +¥3bn). The Q1 tanshin and the 'Notice of Revision of the Consolidated Financial Results Forecast' (4 Aug 2026) explain the upward revision to ¥250bn / ¥50bn with new FX (¥155, €180). The Q1 deck adds 'Guidance revised upward, primarily reflecting strength in the industrial market segment', the May and August forecasts side by side, and revised segment forecasts. All three assumption types, plus revisions explained, so 5. Source document →
F8English financial disclosure current to the latest Japanese filing period5/5
English results for the three months to 30 June 2026 published 4 August 2026, the same period and day as the Japanese tanshin. Source document →
S1Medium-term management plan in English with numerical targets5/5
The current plan is the '"2026" Medium and Long-term Growth Strategy', a rolling plan, in English (8 pp, listed 12 May 2026, created 11 May). The Japanese 決算説明会資料【"2026"中長期成長戦略について】 is also 8 pp, listed 12 May, created 11 May. The FY2029 targets: net sales ¥290bn, operating margin 23% or more, ROE 12% or more. The deck also gives a target sales mix by market (automotive 31%, general industrial 29%, Hirose SER and others 5%) and a FY2026-FY2029 cash allocation (50-60% growth investment, 40-50% shareholder returns). The English Mid-Term Business Plan page repeats these, with DOE 5% and the ¥60bn buyback policy for FY2025-FY2028. Same day and as complete as the Japanese, so 5. Source document →
S2IR presentations published in English5/5
For every quarter an English deck (Q1 FY2026: 23 pages, 5 August 2026, same as the Japanese 23-page deck), a full transcript of the briefing (24 pages) and a Q&A summary (4 pages), both 10 August, the same day as the Japanese. Only the Japanese audio has no English counterpart, a medium not content. The Japanese set item for item. Source document →
S3English equity-story or investment-highlights page4/5
The English IR menu has a 'Business & Financial Data > At a Glance' page with quantified tiles: net sales ¥211.3bn, operating margin 20%, ROE 8.9%, 5,110 employees, 83% overseas sales, founded 1937. It links to the corporate page 'What Kind of Company Is Hirose?', whose 'Hirose's strengths' section covers: high profitability and a high new-product ratio (new products over 30% of net sales); the 'ambush strategy'; leading technology (smallest, fastest, most convenient connectors); the partner production system; and the global network (15 countries, 47 sales and 8 manufacturing sites, more than 100,000 customers). There is no 'why invest' or investment-highlights page. The strengths are specific but mostly qualitative and sit outside IR, and the IR at-a-glance gives KPIs, not strengths. Dedicated but mostly qualitative, so 4. Source document →
S4Growth drivers identified and quantified in English5/5
The drivers are named and given numbers in English. The '"2026" Medium and Long-term Growth Strategy' sets FY2029 sales of ¥290bn and a sales mix by driver: automotive 26% to 31%, general industrial 29%, consumer down, new businesses (Hirose SER, AI-related, optical active connectors) 5%. It also prices the capacity investments: the new Koriyama factory about ¥10bn (47,720 m2 land), the HRS Korea expansion about ¥3bn (19,881 m2 added), the next-generation SCM system ¥8-9bn, the TAT Center expansion, and the new Chennai plant from 2027. The FY deck (p20-21) gives FY2026 sales forecasts by market (general industrial ¥71bn, +15%; automotive ¥60bn, +10%) and for the probe/Hirose SER business. The transcript adds the probe market (¥1.8bn in 2025 to ¥6bn in 2026) and about ¥10bn for SER by FY2029. Named drivers with numbers, so 5. Source document →
S5Results-briefing transcripts or Q&A published in English4/5
Every quarterly briefing has an English full transcript and an English Q&A summary, as the Japanese side does; only the Japanese audio has no English version. English vs Japanese posting dates for the Q&A summaries: Q1 FY3/2027 10 Aug/10 Aug 2026; FY3/2026 15 May/15 May; Q3 13 Feb/13 Feb 2026; Q2 14 Nov/14 Nov 2025; Q1 14 Aug/14 Aug 2025. The transcripts match on the same days (Q1 FY3/2027: 24 pp English, created 10 Aug), with one exception: the Q2 FY3/2026 transcript was posted 11 Nov 2025 against 10 Nov in Japanese. FY3/2025 briefings were matched the same way. The Q&A summary was same-day every period and the transcript one day late once, so 5. Set to 4 in review, 16 Oct 2026: the Q2 FY3/2026 English transcript came a day after the Japanese (11 vs 10 Nov 2025); any lag is 4 under the S5 ruling. Source document →
S6Integrated or annual report available in English4/5
Integrated Report 2025 in English, in three PDFs (11 + 25 + 3-page data section, 3 February 2026) matching the Japanese 14 + 25 pages (31 October 2025); the reporting period is 1 April 2024 to 31 March 2025. Complete, one edition behind for a March year-end; the Japanese side is on the same edition. Source document →
S7Progress against the previous plan, including misses, explained in English3/5
The plan rolls forward each May, and the previous version's FY2028 targets (sales ¥240bn, OPM 25% or more, in the '"2025" Medium and Long-term Growth Strategy', 12 May 2025) have not reached their end date. The 2026 strategy deck (p2) charts actual sales, OPM and ROE for FY2018-FY2025 against the forecast path. The English FY transcript (15 May 2026) says the new targets are 'net sales of plus JPY50 billion, an operating margin of minus 2 points, and ROE of plus 2 points' against the FY2028 targets. It also reports progress on the ¥60bn buyback (¥20bn done) and on DOE 5%. The capital policy slide sets the May 2024 cash allocation against the May 2026 update. That is progress and target changes narrated with numbers, not a target-versus-actual reconciliation with variances explained, so 3. Source document →
G1Corporate governance report available in English5/5
Corporate Governance Report in English, 17 pages, Last Update 4 February 2026, the same edition as the Japanese page offers, linked from the English Sustainability > Corporate Governance page and listed in Timely Disclosure. The TSE filing, current. Source document →
G2Director biographies in English with tenure, expertise and independence5/5
The English Notice of the 79th AGM (1 Jun 2026) covers all ten candidates for Director (excluding Audit & Supervisory Committee members), giving for each the date of birth, a dated career history (e.g. 'June 2021 Director of the Company'), significant concurrent positions, shareholdings, board attendance, and the reasons for nomination. The four outside candidates are marked Outside/Independent, with 'Number of years in office' (9, 6, 3 and so on) and the Standards for Independence. The four Audit & Supervisory Committee members (Mori, Miura, Takashima, Ishida) were not up for election, so the notice has no profiles for them; they appear only in the skill matrix. Re-checked 21 Oct 2026 under v1.1.1: an AGM candidate list covers the board when every sitting director is a candidate or is profiled elsewhere in English on the company's site. The four Audit & Supervisory Committee members are profiled as candidates in the English notice of the 78th AGM (2025), listed on the same English AGM page, with years in office and independence. Every director covered, so 5. Source document →
G3Board skills matrix published in English5/5
The English AGM notice (1 Jun 2026), p13, has '(Reference) Skill Matrix of Directors after this Ordinary General Meeting of Shareholders'. It covers all 14 directors (the ten candidates and the four Audit & Supervisory Committee members) across eight skills: Corporate Management, Global Management, Technological Development/Manufacturing/Quality, Sales/Marketing, Finance/Accounting, Legal/Compliance/Risk, Organization/HR Management, and Sustainability (ESG). It explains why each skill is needed. The current matrix in English, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English4/5
The English 'Summary of the policy on determining the details of remuneration, etc. for each individual director' (linked from the governance page) sets out the structure. Executive directors receive fixed base pay, a cash bonus tied to consolidated operating margin, and performance-linked stock through a trust: points are granted only when OPM is 20% or more, sized at 10% of base pay plus bonus. Outside directors and Audit & Supervisory Committee members receive base pay only. The policy gives the pay mix at 20% OPM: Representative Director 43/48/9, other directors 45/46/9. The English CG report (Last Update 4 Feb 2026) repeats this (44:47:9) and gives totals by category only: executive directors ¥258m, Audit & Supervisory Committee members ¥23m, outside directors ¥80m. There is no split by pay type and no per-director amount (the yuho, which has them, is Japanese only), and the Integrated Report has no amounts. Structure, KPI and weights, with a total only, so 4. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 79th Ordinary General Meeting in English posted 1 June 2026 (file 27 May) for a meeting on 25 June - 24 days - 13 pages with the Reference Documents for both proposals, every director candidate with reasons for nomination; an English Supplementary Explanation on Proposal 2 followed on 10 June. Internet voting is offered with no Japanese-only label; the '(in Japanese)' tags attach to the materials-posting websites. 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 English0/5
The English General Meeting of Shareholders page carries notices, the revision and the supplementary explanation only; Timely Disclosure and Latest IR Information have nothing from the AGM. The Japanese page has the 臨時報告書 of 26 June 2026 with no English counterpart.
G7Cross-shareholdings in English with reduction schedule and rationale5/5
The English Corporate Governance Report (Last Update 4 Feb 2026), under [Principle 1.4 Cross-Shareholdings], says: 'We do not hold listed shares as cross-shareholdings.' The English governance page says the same under 'Regarding Cross-shareholdings'. A company stating in English that it holds none, so 5. Source document →
O1English IR section reachable within two clicks of the English homepage4/5
The English homepage https://www.hirose.com/en/ redirects to the product site (/en/product), whose header link 'Hirose Electric Company Information' is click 1, to https://www.hirose.com/corporate/en/. On that page, 'Investor Relations' (a visible tile, plus the header menu) is click 2, to https://www.hirose.com/corporate/en/ir/. The product homepage has no direct IR link. Two clicks, so 4. Source document →
O2English document links resolve to English documents5/5
We sampled 26 English document links across types, and all opened as English documents (some decks carry a Japanese file title such as 【英】説明会資料). Tanshin: Q1 FY3/2027 k7Rm, FY3/2026 bzJE, FY3/2020 zM6W. Decks: Q1 nT60, FY gZKy, 2026 strategy Jy82, 2025 strategy NrrN, Q3 QBEe. Transcripts/Q&A: sE8d, UrwN, CDd6, Q1 FY3/2025 aCJm. AGM: the 79th notice uVHX, the Proposal 2 supplementary explanation liR5, the partial revision PZsI, the 76th notice H7Ah. Governance: the CG report (S3 and irpocket hAnK), the remuneration policy summary, the cost-of-capital statement. Integrated Report 2025 parts Jagn, FoB7 and eXM0, and the 2022 edition Mbm2. Interim Financial Report E70T. TDs: forecast revision VRnJ, buyback G0nE and lHlM, officer changes RijG, investment-unit policy xvmU. All English, so 5. Source document →
O3English IR archive free of dead links5/5
All 26 sampled links (listed under O2, from FY2019 tanshin to October 2026 TDs, on both pdf.irpocket.com and the S3 bucket) resolved and rendered in the browser. One English Timely Disclosure entry, 2026/07/01 'Notice Concerning Status of Share Buyback Program', shows a title with no file size and no link. That is a missing document (scored at R3), not a dead link. All live, so 5. Source document →
O4English IR pages render without blank JavaScript failures5/5
Every English IR page rendered its content in the browser, with no empty lists or widgets: the IR top (latest news, latest downloads, IR calendar), Latest IR Information, Financial Results (Tanshin), Presentation Materials, Annual & Semiannual Securities Reports, Timely Disclosure, Integrated Reports, General Meeting, Mid-Term Business Plan, At a Glance, Financial Information (HTML tables), Basic Stock Information, Major Shareholders, Disclosure Policy and the governance page. All render, so 5. Source document →
O5Single page listing all English IR documents by date and type3/5
The English IR Library is split by type across separate pages, each dated: Financial Results (Tanshin), Financial Results Presentation Materials (decks, transcripts and Q&A together), Annual & Semiannual Securities Reports, Timely Disclosure Information, Integrated Reports, and the General Meeting page. 'Latest IR Information' is a dated all-types list, but it holds only 11 items (Aug-Oct 2026), so it is not a library. Split by type across pages, each dated, so 3. Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive goes back years for every type. Tanshin: every quarter from FY3/2020 (May 2020) to Q1 FY3/2027. Decks, transcripts and Q&A summaries: every quarter back to FY2020. AGM notices: 73rd (June 2020) to 79th. Integrated reports: 2021 to 2025. Quarterly/interim reports: from FY2020. Timely disclosures: from 2022. Several years across document types, so 5. Source document →
O7Named English IR contact published2/5
The English IR site has no contact link or form; the corporate site's only contact is 'Purchase Counter', a sales page whose Web Inquiry Form requires product-site membership and has no IR route. The tanshin names Masakazu Yamaoka, General Manager of Finance Department, +81-45-620-7410; the AGM supplementary explanation names Rie Yamada, Public Relations & IR Office Manager, +81-45-620-9249. Named only in document headers. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
English and Japanese listing dates match. Tanshin: Q1 FY3/2027 4 Aug/4 Aug 2026 (English PDF created 4 Aug); FY3/2026 11 May/11 May (created 11 May); Q3 3 Feb/3 Feb 2026; Q2 4 Nov/4 Nov 2025; Q1 4 Aug/4 Aug 2025. Decks: Q1 5 Aug/5 Aug 2026 (English created 5 Aug, the briefing day, as the tanshin announces); FY 12 May/12 May 2026, with the strategy deck the same; Q3 4 Feb/4 Feb; Q2 6 Nov/6 Nov; Q1 5 Aug/5 Aug 2025. Tanshin and deck same day as the Japanese every period, so 5. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Lags, English vs Japanese listing dates. Q1 FY3/2027 tanshin: 4 Aug/4 Aug 2026, 0. FY3/2026 tanshin: 11 May/11 May 2026, 0. 79th AGM notice: 1 Jun/1 Jun 2026, 0. Corporate Governance Report: 4 Feb/4 Feb 2026, 0 by listing; the English PDF was created 12 Feb, so 8 days on the creation date. Annual securities report (有価証券報告書, 24 Jun 2026): no English, counted as more than 90. Sorted: 0, 0, 0, 0 (or 8), more than 90. Median 0 days, so 5. Source document →
R3Timely disclosures published in English4/5
We compared the Japanese 適時開示情報 list with the English Timely Disclosure list for 16 Oct 2025 to 16 Oct 2026. The Japanese has 27 items: buyback decisions, status and completion notices, three forecast revisions, the dividend, the non-consolidated variance notice, the investment-unit policy, treasury-share cancellation, officer changes, the CG report and results-date notices. 26 of them have an English PDF listed on the same date. The exception is the 1 Jul 2026 自己株式の取得状況, whose English entry is listed but has no document. Two English titles are also mislabelled: 1 Jun 2026 'Notice Concerning Share Buyback Program' is actually a status notice, and 16 Oct 2026's is actually the results-and-completion notice. Nearly all, same day, so 4. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
We checked the rendered English IR pages, the Terms of Use, and the documents (tanshin, decks, transcripts, Q&A, AGM notice, CG report, interim report, TDs). Nothing is presented as machine-translated. The library pages link an irpocket 'About IR Site' notice; it says the data is generated from TSE and EDINET feeds by Magical Pocket Corp. and may contain errors, which is about the data feed, not translation. The 'Japanese original shall prevail' lines on the tanshin and AGM documents are R5 matters. Free of machine-translation disclaimers, so 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The tanshin ('the later shall prevail'), the AGM notice and the Integrated Report data section each subordinate the English to the Japanese. The results deck, transcript, Q&A summary and Corporate Governance 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 →
FY2029 growth targets and updated cash-allocation policy
Strategy or target reset · In progress · Plan announced 12 May 2026
Hirose raised its FY2029 sales and ROE ambitions and updated the four-year split between business investment and shareholder returns.
Timeline and sources (1 step)
- 12 May 2026Growth strategy updated Hirose disclosed FY2029 targets and updated the cash-allocation framework. 2026 Medium and Long-term Growth Strategy
What management said it would do
Management targets ¥290bn sales, at least 23% margin and at least 12% ROE by FY2029.
From the company’s own disclosure · 2026 Medium and Long-term Growth Strategy
What it actually did, and when
New production and technology investments are progressing, but a complete capital and return ledger is not yet disclosed.
Partly disclosed — a gap remains · 2026 Medium and Long-term Growth Strategy
What it disclosed about the economics
Hirose allocates 50–60% of operating cash flow to business investment and 40–50% to returns, with DOE of 5%.
Partly disclosed — a gap remains · 2026 Medium and Long-term Growth Strategy · Hirose Electric Integrated Report 2025
What has happened since
The FY2029 result is not due.
Partly disclosed — a gap remains · 2026 Medium and Long-term Growth Strategy
The question this leaves open
Investor question: Which investments drive the ROE step-up? IR preparation: quantify committed spend, hurdle rates and project 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
Hirose allocates 50–60% of FY2026-FY2029 operating cash flow to business investment and 40–50% to shareholder returns.
Capital structure
Strategic M&A can be funded from cash on hand, while DOE is 5% and buybacks remain part of the return policy.
Governance of capital decisions
FY2029 targets raise ROE to at least 12% against a stated 6–7% capital cost and extend manufacturing capacity.
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.
- Rule change 21 October 2026 · G2: 4 → 5. Under v1.1.1, an AGM candidate list covers the board when every sitting director is a candidate or is profiled elsewhere in English. The Audit & Supervisory Committee members are profiled in last year's English AGM notice, on the same page.
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.