ROHM Co., Ltd.
Cite as: Japan IR Index, ROHM Co., Ltd. (6963), 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.
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.
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.
S7 Progress against the previous plan, including misses, explained in English 3/5 Translation
Set the previous plan's targets against the results in English, and explain the misses.
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 | 10 of 33 |
| Same size band (¥500bn–2tn) | 84.2 | 18 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, 31 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
Financial Report for the Three Months Ended June 30, 2026, 5 August 2026 (posted that day per the IR Update Information), 11 pages against the Japanese 11: overview of business results, financial condition and outlook, the statements, and every note in the Japanese table of contents including the segment note. The full-year report (12 May 2026) is 19 pages to 19. Q1, Q2, Q3 and full year are all in the English library. Source document →
F2English results summary is a full translation, not an excerpt5/5
The English 'Financial Report for the Three Months Ended June 30, 2026 (Under Japanese GAAP)' (5 Aug 2026) is 11 pages, the same as the Japanese 2027年3月期 第1四半期決算短信 (11). It has the same table of contents: the summary pages; 1. Overview of Business Results and Financial Condition (business results with a narrative for each segment, financial condition, Future Outlook); 2. the quarterly statements; and the notes (changes in accounting policies, quarterly-specific accounting, segment information, shareholders' equity, going concern, cash flows). The FY2025 year-end Financial Report (12 May 2026) is 19 pages to 19, and Q3 and H1 are also complete. The whole tanshin, so 5. Source document →
F3Financial statements including notes available in English5/5
The latest-period English tanshin (Q1 FY3/2027, 5 Aug 2026) has the full quarterly balance sheet, income statement and comprehensive income statement. It also has the notes, including the segment table for both periods with its reconciliation notes and the note on the quarterly cash-flow statement. The year-end English Financial Report (12 May 2026, 19 pp) adds the cash-flow statement and the full segment note. Full statements and notes for the latest period, so 5. Source document →
F4Annual securities report available in English in any form3/5
No annual securities report in English. The IR Library's 'Financial Statements' page stops at 'Financial Statements 2021' (51 pages, August 2021): management policies, eleven-year summary, consolidated statements with notes and the Independent Auditors' Report, for the year ended March 2021. Financial statements only, and nothing since - none for the five fiscal years to March 2026. Source document →
F5Segment revenue and profit disclosed in English, consistent definitions5/5
There are three reportable segments (ICs, Discrete semiconductor devices, Modules) plus Others (resistors). Every English tanshin gives each segment's sales, broken down by region (Japan, Asia, Americas, Europe), and its segment profit or loss, with the adjustment to operating profit. For Q1 FY3/2027: ICs ¥62,128m and ¥7,314m, Discretes ¥58,932m and a ¥945m loss, Modules ¥8,073m and ¥1,015m. The Overview of Performance by Segment narrates each segment. The year-end Financial Report states the definitions ('1. Overview of reportable segments', '2. Calculating method...', p15) and adds impairment by segment. The Excel datasheet gives quarterly segment sales and OP for three years. Every period, definitions stated, so 5. Source document →
F6Multi-year financial data file (Excel or CSV) downloadable in English4/5
The English Fact Book page offers Excel files: 'Fact Book 2027 Q1 (Datasheet)' and 'Fact Book (Datasheet)' (FY2025 year end). Reading the FY2025 file in the page found two sheets. 'Data' has, quarterly and annually for FY23-FY25 plus the FY26 forecast: performance and segment sales/OP, sales by market and by customer nationality, capex, depreciation and R&D by segment, FCF, EBITDA, working capital/CCC, leverage, ROE/ROA/ROIC, EV, shareholder returns, EPS/BPS, FX and employees. 'FS' has the balance sheet, income statement, comprehensive income and cash flows. The Q1 FY3/2027 file covers FY24-FY26. Every statement plus per-share and segment data, but only about three years, short of five. Excel but shorter, so 4. Source document →
F7Guidance disclosed in English with the basis explained5/5
The year-end English Financial Report (12 May 2026) gives the FY3/2027 forecast, with the note 'based on an exchange rate of 153JPY to 1 USD'. The Q1 report (5 Aug 2026) explains under Future Outlook that results are in line and the forecast unchanged. The English FY2025 results deck (13 May 2026) gives the market view in its 'ROHM Net Sales Forecast Summary': automotive +5.6%, industrial +5.0%, consumer and others +6.8%, with reasons and 1H/2H splits. It also gives the FY2026 plan by market, by segment (ICs +7.6%, Discretes +8.4%, Modules -5.9%, Others -11.8%) and by customer nationality. Revisions are explained in English notices, for example 'Notice of Revisions to Earning Forecasts' (4 Feb 2026: ¥460bn to ¥480bn sales, with a 'Reasons for the revisions' section). 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 three months to 30 June 2026 posted 5 August 2026, the same period and day as the Japanese first-quarter tanshin. Source document →
S1Medium-term management plan in English with numerical targets5/5
The current plan is the 2nd Medium-Term Management Plan 'MOVING FORWARD to 2028' (FY2026-FY2028). In English it is the 'Formulating 2nd Medium-Term Management Plan' release (6 Nov 2025, the same day as the Japanese, on TDnet and IR News) and the 'Half Year / Medium-Term Management Plan Presentation' (44 pp, the same as the Japanese 44; both on TDnet 7 Nov 2025 08:45). It covers the FY2028 targets (net sales over ¥500bn, OP margin over 20%, ROE over 9%) and segment targets (sales by segment and by market, IC sales over ¥215bn with OPM over 23%). It also covers the ¥100bn OP bridge by lever, cash allocation (OCF over ¥300bn, returns about ¥200bn, capex about ¥150bn, D/E under 0.5) and the non-financial targets. The English MTP web page repeats the targets. Complete and same day, so 5. Source document →
S2IR presentations published in English5/5
The English Materials for Financial Results Briefing page mirrors the Japanese item for item: Q1 FY2026 supplementary material (5 August 2026, 16 pages, same as Japanese), the FY2025 year-end presentation (47 pages to 47) with its Q&A (13 May 2026), Q3 supplementary material and Q&A, and the half-year/medium-term plan presentation (44 pages) with Q&A. Every period, with the Q&A the Japanese side gets. Source document →
S3English equity-story or investment-highlights page4/5
There is no 'why invest' page. The English IR menu's 'To Individual Investors' links 'ROHM in 5 Minutes' ('an overall picture of ROHM complete with data and figures'). It is a dedicated at-a-glance page with sales of ¥481.1bn by region and market, 10,000+ catalogue products, employees, sites, R&D staff and spending ratio, about 8,000 patents, and 100% eco-product development. It gives facts more than an investment case: there are no market shares or returns. The MTP deck adds a 'ROHM's Strengths' slide (IDM, power/analog technology, integral technologies), which is qualitative. Dedicated but mostly corporate facts and qualitative strengths, so 4 (as for 6806/7701). Source document →
S4Growth drivers identified and quantified in English5/5
The English MTP presentation (Nov 2025) and FY2025 results deck (May 2026) name the drivers and attach numbers. Power devices and analog ICs move from FY2025 plan to FY2028 by segment (power devices ¥119.3bn to ¥110.0bn after downsizing, ICs ¥212.8bn to ¥215.0bn, and so on) and by market (automotive ¥235.8bn to ¥225bn, industrial/consumer/others ¥224.2bn to ¥275bn). Server-related sales are to reach ¥30bn by FY30, with a product-lineup sales target for servers and a data-centre capex/addressable-demand forecast. SiC targets about 3 million inverters' worth in 2028 plus a profitability roadmap. The FY2028 ¥100bn OP bridge sizes each driver: SiC +¥34-40bn, site reorganisation +¥18-22bn, cost reduction +¥9-12bn, pricing +¥7-10bn, non-SiC sales growth +¥14-20bn. Named drivers with numbers, so 5. Source document →
S5Results-briefing transcripts or Q&A published in English5/5
The English briefing page has a Q&A for every briefing the Japanese side publishes one for. Half Year / MTP Q&A (7 Nov 2025): English and Japanese PDFs both created 13 Nov 2025. Q3 Q&A (4 Feb 2026): both created 9 Feb 2026. Year End Q&A (13 May 2026): both created 20 May 2026. The English versions are at least as long (2 pp each). The Q1 FY3/2027 supplementary material has no Q&A in either language. ESG Conference Q&A is also in English. Every Q&A, same day as the Japanese, so 5. Source document →
S6Integrated or annual report available in English4/5
ROHM Integrated Report 2025 in English (November 2025; Japanese October 2025), 48 spread pages matching the Japanese 48, reporting period fiscal 2024 (1 April 2024 to 31 March 2025). Complete, but covering the year to March 2025 - one edition behind; no 2026 edition yet in either language. Source document →
S7Progress against the previous plan, including misses, explained in English3/5
The previous plan 'MOVING FORWARD to 2025' (FY2021-FY2025) is reviewed in English, but its financial targets are never set against actuals. The English MTP page's 'Review of the 1st Mid-Term Management Plan' says targets were raised in May 2022, then demand slowed, so 'expect to meet none of its financial targets', with no figures. Integrated Report 2025 lists the 1st-plan targets (sales ¥600bn or more, OPM 20% or more, ROE 9% or more, overseas ratio 50% or more, CCC about 190 days) in its Financial Logic Tree. It reports cumulative cash allocation (growth investment about ¥610bn against ¥700bn planned) and has a 'KPI by key topic and progress' table with FY2025 non-financial targets against FY2023/FY2024 results. The FY2025 deck gives the plan-period capex total (¥608.2bn). Progress is narrated with numbers and partly reconciled for non-financial KPIs, but there is no target-versus-actual table for the financial targets, so 3 (floor; the non-financial tables could argue 4). Source document →
G1Corporate governance report available in English5/5
Corporate Governance Report in English, 26 pages, 'Last Update: June 24, 2026', the TSE filing translated (code compliance, disclosure under each principle, board and committee structure), linked from the IR top's IR Library menu. Current. Source document →
G2Director biographies in English with tenure, expertise and independence4/5
The English AGM notice (26 May 2026, 75 pp) gives each of the seven director candidates a career history, period in office ('Period in office as Member of the Board... 7 years'), shares held, reasons for nomination, and outside/independent status with the independence standards. The three continuing Audit and Supervisory Committee directors (Nakagawa, Ono, Oda) are not candidates. In English they get their background and expected role, independence and board attendance (business report and CG report), plus career profiles on the corporate 'Organization' page. Their years on the board are given only for Oda ('newly elected... June 25, 2025'). All three elements, but tenure is explicit for candidates only, so 4 (floor). Source document →
G3Board skills matrix published in English5/5
The English AGM notice (26 May 2026), under 'Board Composition after being appointed and Skill Matrix' (p12), has the current matrix for all ten directors after the 2026 AGM, each with position and committee roles. The eight skills are Corporate Management, ESG/Sustainability, Global, Innovation/Technology, HR Development, Legal/Compliance, Finance/Accounting and Industry Expertise, and each skill is defined. Integrated Report 2025 also has a Director Skill Matrix. Current, so 5. Source document →
G4Executive remuneration structure and its performance linkage explained in English4/5
The English AGM notice business report (pp30-33) gives the policy (fixed, performance-based cash, RS and PSRSU stock) and the KPIs. The annual bonus is tied to consolidated net sales and OP against targets (target range sales ¥400-450bn, OP ¥80-100bn, against actual sales ¥481,148m and an OP loss of ¥10,864m). PSRSU is tied to the MTP objectives. Mix ratios are given by role (President: fixed 5, performance 3, RS 2, PSRSU 3), along with the shareholding guidelines. Amounts are broken down by type: directors excluding audit committee ¥347m total = fixed ¥192m, performance-linked ¥86m, non-monetary ¥68m (9 people); audit committee ¥84m; total ¥431m. Re-checked 21 Oct 2026 under v1.1.1, which needs the weight of each performance measure in every performance-linked element: the bonus uses net sales and operating profit with no weights between them. So 4. Source document →
G5AGM notice in English with sufficient lead time to vote4/5
Notice of the 68th Ordinary General Shareholders Meeting in English, dated 26 May 2026 (file created 25 May) for a meeting on 24 June - 29 days - 75 pages: Reference Materials for all four proposals (dividend, articles amendment, seven directors, one substitute director) with candidate details, plus the business report and the auditors' reports. Internet voting at evote.tr.mufg.jp is explained in English with no Japanese-only label; only the meeting itself is 'conducted in Japanese only'. Re-checked 23 Oct 2026 (G5 voting-site sweep, after the independent audit): the voting website named above, evote.tr.mufg.jp (Mitsubishi UFJ Trust and Banking), 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 68th Ordinary General Shareholders Meeting, in English, 24 June 2026, two pages: each of the four proposals 'resolved and approved as originally proposed', with those elected named. No vote counts, no approval ratios; IR News Releases has no English voting-results report. Source document →
G7Cross-shareholdings in English with reduction schedule and rationale2/5
The English CG report (24 Jun 2026) Principle 1-4 gives only the boilerplate. ROHM holds shares only where necessary for growth or business relationships, the Board examines each holding annually, holdings with less need are reduced, and there is a voting policy. The English AGM notice has the same policy and the redemption of the ¥200bn TBJ Holdings preferred shares. The MTP deck lists 'sell investment securities' under cash generation, with no amount. There is no count or amount of cross-holdings, no target and no progress in English: the yuho is not translated and the English Financial Statements stopped in 2021. Boilerplate policy only, so 2. Source document →
O1English IR section reachable within two clicks of the English homepage4/5
On the English homepage https://www.rohm.com/, the IR link is not directly visible: the only /ir link sits in the collapsed 'Company/IR' menu. Clicking 'Company/IR' opens a sub-bar (Corporate, Investor Relations, R&D, Culture/Society), and 'Investor Relations' lands on https://www.rohm.com/ir. Two clicks, so 4. Source document →
O2English document links resolve to English documents5/5
Sampled 22 English document links across types; every one opened an English document. Tanshin: Q1 FY3/27, FY3/26, Q3, H1, Q1 FY3/26, FY3/2016. Decks: Q1 supplementary 2606, FY presentation 2603, MTP deck 2509, 2209 half-year, 13c-account (FY2009). Q&As: 2603, 2512, 2509. Integrated Report 2025, CG report 2606, AGM notice sh68_e, notice of resolutions sktg68_en, Financial Statements 2019, Fact Book 2606 and 2112 (bilingual English/Japanese labels), IR news 2607022_news2 and 260204_news1. No Japanese document behind an English link, so 5. Source document →
O3English IR archive free of dead links5/5
All 22 links in the O2 sample resolved and opened in the rendered browser, including archive items back to FY2009 (13c-account.pdf) and FY2016. No dead links found, so 5. Source document →
O4English IR pages render without blank JavaScript failures5/5
Every English IR page rendered its content in the browser: IR top with Update Information, the financial report, briefing, fact book, financial statements, integrated report and IR news libraries, highlights (5-year table), stock situation (shareholder table), calendar, dividends, basic stock information, shareholders meeting, financial strategy, disclaimer and the MTP page. The only quirk is the scroll-triggered counters on 'ROHM in 5 Minutes', which read 0 in a static full-page capture until scrolled into view. The sales figure (481.1) renders. That is an animation, not a blank page. 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 pages: Financial Report, Fact Book, Financial Results Briefing/ESG Conference, Financial Statements, ROHM Integrated Report and IR News Releases, with the AGM notices on Shareholders Meeting and the CG report under Sustainability. Each type page is ordered by fiscal year and quarter. Only IR News Releases carries posting dates; the IR top's Update Information is a short dated feed of recent postings. There is no single all-types library, so 3 (split by type, per the ruling). Source document →
O6English archive genuinely populated, not an unverifiable shell5/5
The archive is deep in every type. Financial reports go quarterly back to FY ended March 2004, briefing presentations back to FY2004 (with Q&As from FY2023), fact books with Excel datasheets, Financial Statements 2019-2021, integrated reports with past data, AGM notices and resolutions from the 59th (2017) to the 68th (2026), and IR news releases from 2022 to 2026. Several years across types, so 5. Source document →
O7Named English IR contact published3/5
No contact link in the IR section itself. The site-wide Contact Us page leads ('Corporate Information, Investor Relations, Sustainability, and R&D Inquiries' > Other Inquiries) to a shared form whose Inquiry Type list includes 'Press Investor Relations'. The tanshin names Motohiro Ando, Executive Officer, Director of Corporate Strategy Headquarters, +81-75-311-2121; the CG report gives the Public & Investor Relations Division at the same number. A shared form with an IR category. Re-checked 17 Oct 2026: the English FY2025 year-end deck (https://fscdn.rohm.com/en/financial/account/2603_presentation_en.pdf, p.32) names the Public & Investor Relations Division, Investor Relations Department, with e-mail ir@rohm.co.jp - in a document, not on the site, so 3 stands. Source document →
R1Earnings materials published in English simultaneously with Japanese5/5
The latest two results were both same day on TDnet (kabutan list). Q1 FY3/2027: the Japanese tanshin, the English Financial Report and the English and Japanese supplementary material are all timestamped 5 Aug 2026 15:30; both sites show 2026.08.05. FY3/2026: tanshin in both languages 12 May 2026 15:30, and the briefing deck in both languages 13 May 2026 10:00 (English 'Financial Results for FY2025', Japanese 決算説明会). Earlier periods match too. Q3 FY3/2026 tanshin and deck: both 4 Feb 2026 15:30. H1: tanshin 6 Nov 2025, MTP deck both 7 Nov 08:45. The site's FY decks were re-uploaded in both languages on 17 Jun 2026 (PDF creation dates), not as an English-only lag. Tanshin and deck same day every period, so 5. Source document →
R2Median lag in days between Japanese and English statutory publication5/5
Lags by TDnet timestamps (kabutan). Q1 FY3/27 tanshin: 5 Aug 2026 both, 0. FY3/26 tanshin: 12 May 2026 both, 0. 68th AGM notice: 26 May 2026 08:00 both, 0. CG report: Japanese 24 Jun 2026 16:47, English 24 Jun 2026 16:30, 0 (also 25 Dec 2025, both same day). Annual securities report (有価証券報告書, Japanese on the IR site): no English version, since the English 'Financial Statements' series ended in 2021, so over 90. The lags are 0, 0, 0, 0 and over 90, giving a median of 0 days, so 5. Source document →
R3Timely disclosures published in English5/5
In the 12 months from 17 Oct 2025, TDnet carried about 20 Japanese timely disclosures besides results, and every one has an English version on TDnet the same day (most at the identical timestamp), nearly all also on the English IR News list with the same date. They are: 6 Nov 2025 forecast revision, interim dividend, 2nd MTP, and new names for the domestic group companies (English on TDnet only); 4 Feb 2026 forecast revision; media-report responses on 6 Mar (14:30 JP/15:00 EN), 13 Mar, 17 Mar, 27 Mar (08:15/08:30) and 27 Apr (08:50/09:20); the 27 Mar Toshiba/Mitsubishi Electric MOU (two items); 28 Apr end of the DENSO proposal review and executive structure; 12 May impairment and Dalian transfer; 24 Jun RS/PSRSU disposals; 22 Jul completion notices; and 17 Aug articles of incorporation. The only Japanese-only filing is the 独立役員届出書 (20 May 2026), a TSE form rather than a timely disclosure. All same day, so 5. Source document →
R4English disclosure free of machine-translation accuracy disclaimers5/5
Nothing on the rendered English IR pages or documents is presented as machine-translated. The IR 'Notes and Disclaimer' page covers forward-looking statements and possible differences from exchange disclosures, and says nothing about translation tools. There is no translation widget or AI-translation banner (the globe icon is a regional-site selector), and the decks, tanshin, AGM notice, CG report and integrated report contain no machine-translation notice. Their 'Japanese original shall govern' lines are R5's. So 5. Source document →
R5English version stated as authoritative, not subordinate to Japanese2/5
The results decks and supplementary material ('Japanese original version shall govern'), the AGM notice and notice of resolutions ('the latter shall prevail'), the Corporate Governance Report and the Integrated Report all subordinate the English. The tanshin (Financial Report) carries 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 →
MOVING FORWARD to 2028 capital policy
Strategy or target reset · In progress · Action announced 6 November 2025
ROHM published a three-year operating and cash-allocation framework. Interim earnings show progress, while the FY2028 targets and cumulative uses remain not due.
Timeline and sources (2 steps)
- 6 November 2025Cash allocation disclosed ROHM quantified three-year operating cash flow, capex, debt repayment, shareholder returns and liquidity targets. Financial Results and MOVING FORWARD to 2028 Update
- 31 December 2025 · announced 5 February 2026Nine-month progress disclosed ROHM reported ¥369.5bn sales, ¥9.7bn operating profit and ¥51.3bn EBITDA for nine months. Financial Report for the Nine Months Ended December 31, 2025
What management said it would do
ROHM set FY2028 targets above ¥500bn sales, 20% operating margin and 9% ROE and disclosed a three-year cash-allocation framework.
From the company’s own disclosure · Medium-Term Management Plan MOVING FORWARD to 2028 · Financial Results and MOVING FORWARD to 2028 Update
What it actually did, and when
Nine-month earnings are available, but cumulative allocation and project returns are not yet fully reconciled.
Partly disclosed — a gap remains · Financial Report for the Nine Months Ended December 31, 2025
What it disclosed about the economics
The framework quantifies operating cash flow, capex, debt repayment, shareholder returns, D/E and liquidity goals.
From the company’s own disclosure · Financial Results and MOVING FORWARD to 2028 Update
What has happened since
The FY2028 outcome is not due; interim profitability is progress evidence only.
Partly disclosed — a gap remains · Financial Report for the Nine Months Ended December 31, 2025
The question this leaves open
Investor question: What is the downside cash-allocation order if SiC profitability lags? IR preparation: publish annual sources and uses with project returns and trigger-based reallocations.
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
ROHM’s FY2026–FY2028 allocation outlines more than ¥300bn operating cash flow, about ¥150bn capex, ¥100bn debt repayment, about ¥200bn shareholder returns and possible strategic M&A.
Capital structure
The policy targets D/E below 0.5 and ending cash around three months of sales, while planning ¥100bn of debt repayment.
Governance of capital decisions
The plan sets FY2028 sales, margin and ROE goals and frames capital allocation around structural reform and SiC profitability.
Preliminary and not scored: a selected-source reading, reviewed 24 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 (Mitsubishi UFJ Trust and Banking) is in Japanese only.
- Rule change 21 October 2026 · G4: 5 → 4. Under v1.1.1, a 5 needs the weight of each performance measure in every performance-linked element. The bonus uses net sales and operating profit with no weights between them.
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.