確認メモ（原文・英語）Consolidated Financial Results for the Third Quarter Ended June 30, 2026, dated and listed in English IR News on 7 August 2026, the same day as the Japanese 第3四半期決算短信: 13 English pages against the Japanese 12, with the qualitative information (results by segment, financial position, cash flows, forecasts), the statements and the notes including segment information. Q2 (11 May 2026, 13 pages vs 12), Q1 (6 February 2026, 11 vs 12) and the FY Sept 2025 release (7 November 2025, 21 vs 20, segment note on p17) are likewise same-day and complete; the English library has every quarter back to FY2015. Every period, same day, complete.
確認メモ（原文・英語）Q3 FY Sept 2026 tanshin, 7 Aug 2026. The English 'Consolidated Financial Results for the Third Quarter Ended June 30, 2026' is 13 pages; the Japanese 2026年9月期第3四半期決算短信 is 12. The English has every section of the Japanese: the summary pages (results, dividends, forecast, others), the qualitative information (overview with order and backlog figures, a narrative for each of the two segments, financial position, cash flows, forecast explanation), the balance sheet, the income and comprehensive income statements, the cash flow statement, and the notes (going concern, shareholders' equity, special accounting methods, segment information). The FY Sept 2025 tanshin is 21 English pages against 20 Japanese, with management policy, accounting policy and per-share notes. The whole tanshin, so 5.
確認メモ（原文・英語）The latest-period English tanshin (Q3, 7 Aug 2026) has the full statements: balance sheet, income, comprehensive income and cash flows. It also has the notes: going concern, significant change in shareholders' equity, the special tax-rate method, and the segment note for both years with its reconciliation to operating profit. The year-end has two sources: the FY2025 tanshin, which adds changes in equity, accounting policy changes, the segment overview and per-share data, and the 73-page audited English 'Annual Report' of consolidated statements with notes (19 Dec 2025). Full statements and notes for the latest period, so 5.
確認メモ（原文・英語）The English IR Library's 'Annual Report' (FY2025, posted 19 December 2025, the yuho filing date) is a 73-page KPMG AZSA booklet 'Consolidated Financial Statements ... For the Years ended September 30, 2024 and 2025, Together with Independent Auditor's Report': the auditor's report (pp2-5, with key audit matters), the statements and notes. None of the narrative parts of the securities report - business overview, risk factors, management's analysis, facilities, shares, corporate governance - are in it. Financial statements (with the opinion) only.
確認メモ（原文・英語）There are two reportable segments, Powder Processing and Blown Film. Every English tanshin gives external and intersegment sales and segment profit for each segment, with the corporate-cost adjustment to operating profit. For example, the 9M to June 2026 shows Powder ¥46,173m sales and ¥3,425m profit, and Blown Film ¥14,738m and ¥402m. The qualitative section also gives orders and backlog by segment. The FY2025 tanshin note defines the segments by product and service, states that segment profit is based on operating profit and that intersegment sales are at market prices, and gives segment assets, depreciation and capex. The audited annual report repeats this. The decks add segment bookings, sales bridges and gross margin by segment. Every period, definitions stated and consistent, so 5.
確認メモ（原文・英語）There is no downloadable data file. The English 'Earnings Releases & Financial Information' page has HTML tables and charts only: quarterly sales FY2022-FY2026, and five years of operating, ordinary and net income, margins and financial position. The 'Data Download' page (To Individual Investors) links only to the PDF tanshin and annual-report pages. The IR Library is all PDFs, and the Integrated Report 2025 has a 'Financial Information Databank' as PDF pages. No .xls, .xlsx or .csv link anywhere on the English IR site.
確認メモ（原文・英語）The FY2025 tanshin (7 Nov 2025) gives the FY Sept 2026 forecast: sales ¥78.5bn, OP ¥7.0bn, ordinary profit ¥7.4bn, net ¥5.2bn. Its 'Future Outlook' sets out the market view (U.S. trade policy, monetary-policy and inflation risks, customers postponing investment) and states the FX assumption: ¥140/USD and ¥160/EUR. The H1 FY2026 deck (2 Jun, English 9 Jun 2026) repeats the forecast against H1 progress, with the FX plan rates against actual rates, the positive factors (high-margin maintenance, focus markets: magnets, data centres, tea leaves, tyres) and the negative ones (Middle East). Each revision has its own English notice explaining it: the Q2 revision of 8 May 2026, and the full-year revision of 7 Aug 2026 (sales up to ¥83.0bn on the weaker yen; OP down to ¥4.5bn on low European utilisation and German restructuring costs). There are no segment forecasts. FX and market view plus explained revisions, so 5.
確認メモ（原文・英語）English results for the nine months to 30 June 2026 published 7 August 2026, the same period and day as the Japanese filing (September year-end; the full-year results are due in November).
確認メモ（原文・英語）The current plan is the 18th Medium-term Three-year Business Plan (FY2025-FY2027) under the long-term vision 'Unique & Dominant'. Its targets for FY2027 are net sales ¥100bn (Powder ¥74bn, Blown Film ¥21bn, growth areas ¥5bn), OP margin 10% and ROE 10%, with cumulative growth investment of about ¥15bn and cumulative shareholder returns of ¥8-9bn at a total payout of 50% or more. The long-term targets are ¥150bn, 12% and 12-13%. The English 'Midterm Strategy' page (image slides), the FY2024 results deck and Integrated Report 2025 carry all of it, matching the Japanese deck. The English FY2024 deck was listed 10 Dec 2024 against the Japanese of 28 Nov 2024; the PDF now linked was created 18 Feb 2025, later than its listing. Complete but late, so 4.
確認メモ（原文・英語）Hosokawa briefs analysts at the half and full year, and an English deck exists for each, page for page with the Japanese: 1st half FY2026 (44 pages to 44; Japanese briefing deck 2 June 2026, English listed and PDF-created 9 June) and FY2025 (51 to 51; Japanese 25 November 2025, English listed and created 5 December). The Japanese side adds only the briefing video (a medium); the tanshin state no supplementary materials. Every period, but the English arrives one to one-and-a-half weeks after the Japanese - judged by listing and PDF creation dates.
確認メモ（原文・英語）The English IR site has no 'why invest' page. Integrated Report 2025 opens with a dedicated spread, 'Hosokawa Micron's 3 Strengths Represented by the Mountain Range of Powder Technologies': world-class technology, coverage of 12 basic powder technologies, and systems engineering. It also has financial and non-financial highlights. The strengths themselves are qualitative. The IR menu's 'To Individual Investors' links to the About Us page 'Business Areas and Strengths', which lists strengths (over 100 years, one of the largest after-sales organisations, own factories in Japan, the US and Europe, IIoT) without figures. A dedicated section, mostly qualitative, so 4.
確認メモ（原文・英語）The English plan names its drivers and puts numbers on some of them. 'Unique': after-sales, raising after-sales revenue from 17-18% of sales (17th plan average) to 25-30%, and one-third at each major subsidiary, with the after-sales bookings trend. 'Dominant': large projects of ¥100m or more, currently 20-25% of bookings. Growth areas contribute ¥5bn to the ¥100bn FY2027 target, and about ¥15bn of growth investment is planned. The H1 FY2026 deck shows after-sales bookings at 24.7% of the total. The focus markets (magnets, data centres, tea grinding, recovered carbon black for tyres, battery materials) are named but not sized. Named, some quantified, so 4.
確認メモ（原文・英語）The English IR Library ('Presentation of Financial Results', FY2014-FY2026) has decks only; there is no transcript or Q&A. The Japanese side has none for current briefings either: its 証券アナリスト向け会社説明会 page lists decks and briefing videos (動画) from 2017 to 2026. The last Japanese Q&A-type documents are the JSAA-reprinted 会社説明会要旨 / IRミーティング要旨, from May 2013 to Nov 2016, and they have no English counterpart. Neither language publishes one today, so not_found.
確認メモ（原文・英語）Integrated Report 2025 in English, 39 pages like the Japanese 統合報告書2025, reporting period stated as the 81st fiscal year (1 October 2024 - 30 September 2025); posted 23 June 2026 (Japanese April 2026). For a September year-end that is the current edition - the report on FY Sept 2026 cannot exist yet. Complete and current. Re-scored 23 Oct 2026 under the owner's S6 ruling of that day (currency is judged against the latest closed year on the day of the check): the report covers the year ended 30 September 2025, and FY9/2026 closed on 30 September 2026, before the 12 Oct check. The complete report, one year behind the latest closed year, so 4.
確認メモ（原文・英語）The English FY2024 deck (pp. 21-22) and Integrated Report 2025 review the 17th plan (FY2022-2024). They state that the final-year target figures were achieved, and give net sales, OP and ROE averages for the 15th, 16th and 17th plans (e.g. operating margin 7.9%, 10.4%, 9.3%). They also table the five basic measures with achievements and challenges. There is no table setting the 17th plan's numerical targets against actuals. The H1 FY2026 deck tracks the current plan, plotting bookings and sales against an 'FY2027 target line' (¥100bn). Progress narrated with some numbers, not target against actual, so 3.
確認メモ（原文・英語）No Corporate Governance Report in English anywhere on the English site (IR menu, IR Library, IR sitemap, Sustainability > Governance). What exists is the site's own 'Corporate Governance Structure' page (basic approach to corporate governance) and the Sustainability 'Corporate Governance' page (board with auditors, overview of bodies) - a narrative written for the site in place of the filing.
確認メモ（原文・英語）The English notice of the 81st AGM (Dec 2025) puts the whole board of eight up for election: Hosokawa, Inoue, Watanabe, Inamori, and outside directors Sato, Shimosaka, Hoshiya and Iwanami. Each has a dated career history (e.g. Inoue 'December 2011 Director & Managing Executive Officer'), board attendance (18/18), shares held, and reasons for nomination setting out expertise. Independence is marked for each outside candidate, with the company's independence criteria (p16). The outside directors' tenure is stated (Sato and Shimosaka four years, Hoshiya two). The p15 table covers all directors and the three corporate auditors. Every director, all three elements, so 5.
確認メモ（原文・英語）The English 81st AGM notice (p15) has 'Composition and expertise and experience of the Board of Directors and the Board of Corporate Auditors if Proposal 2 is approved'. It maps all eight directors and three auditors, with outside status, against seven fields: corporate management; manufacturing, technology and R&D; sales and marketing; international business; finance, accounting and HR; legal and compliance; sustainability and ESG. It explains why each field is needed. This is the board from the Dec 2025 AGM, so current; 5.
確認メモ（原文・英語）Integrated Report 2025 (Corporate Governance spread, PDF page 31) has 'Officer Remuneration'. It gives the process (a board policy, after consulting the voluntary Remuneration Committee) and a table of total remuneration by type for each officer category: basic, performance-linked (bonus) and non-monetary (stock awards). Directors excluding outside directors received ¥182m (¥97m basic, ¥64m bonus, ¥19m stock); figures are also given for auditors and outside officers. Nothing in English states the KPIs behind the bonus or stock awards, or their weights. There is no English CG report or yuho, and the English governance pages are a one-paragraph basic approach. Structure with amounts but no performance linkage, so 3.
確認メモ（原文・英語）Notice of the 81st Annual General Meeting of Shareholders in English, 16 pages, with the reference documents for all three proposals (dividend; eight directors with profiles; an alternate auditor) and English voting instructions (postal and online voting, deadline 5 p.m. 17 December 2025). But it is dated 3 December 2025 (PDF created 2 December) for a meeting on 18 December - about two weeks, against the Japanese electronic provision from 26 November. Whole, but the English arrives about two weeks out, eight days after the Japanese provision - late rather than missing a route, which is band 3 (as DAIHEN at twelve days and THK at eight). The floor between 5 and 3 is recorded.
確認メモ（原文・英語）The English General Meeting of Shareholders page lists the notices of the 75th to 81st meetings only; English IR News (2026 entries) carries no resolutions or voting results. The Japanese meeting page has a 決議通知 for each meeting with no English counterpart.
確認メモ（原文・英語）There is no English treatment of cross-shareholdings. We checked Integrated Report 2025 (its governance section notes Principle 1.4 is not complied with and sends the reader to the website 'Japanese only'), the English AGM notice, both governance pages (IR 'Corporate Governance Structure' and Sustainability 'Corporate Governance') and the audited Annual Report. The annual report's financial-instruments note shows investment securities only as accounting balances. The policy, holdings and reduction approach are in the Japanese CG report and yuho only.
確認メモ（原文・英語）The English homepage (/en/) has a visible 'in details' link in its IR News block that goes straight to the IR top (/en/ir/), one click. The global-navigation 'IR Information' item opens a mega-menu whose links also lead to the IR top and its sections. One click, so 5.
確認メモ（原文・英語）We sampled 18 English document links across types and years, and all opened as English. Tanshin: Q3, Q2 and Q1 FY2026, FY2025, FY2021, FY2016, FY2014. Decks: H1 FY2026, FY2025, H1 FY2019, FY2015, FY2024. Also the FY2025 audited Annual Report, Integrated Reports 2025, 2024 and 2023, the 81st AGM notice, timely disclosures (dividend forecast revision 11 May 2026, forecast revision 7 Aug 2026, ToSTNeT-3 buyback Mar 2023), the 25 Apr 2024 correction notice, and the Shared Research page (English). All English, so 5.
確認メモ（原文・英語）The same sample of 18 links, from 2014 to 2026, all resolved: every PDF opened (1 to 73 pages) and the external Shared Research page loaded. The library's older files were re-uploaded in Nov 2021 and still resolve. No dead links, so 5.
確認メモ（原文・英語）We rendered the IR top, IR News (year tabs 2023-2026 clicked), the four library sub-pages, Earnings (HTML tables and charts), Stock & Ratings, Information for Shareholders, IR Calendar, Management Policy, Midterm Strategy, Corporate Governance Structure, Data Download, FAQ and the IR sitemap. All render their content, and the StockWeather quote widget on the IR top shows the 15 Oct 2026 close. Midterm Strategy and DX Strategy are image slides, but they render. Some content is stale (shareholder data 'as of 30th Sep. 2024'), but nothing is blank. So 5.
確認メモ（原文・英語）The IR Library is split by type across four pages: Financial Statement (tanshin by fiscal period), Annual Report, Presentation of Financial Results (dated) and Integrated Report. But the English IR News page (/en/irnews.html) is one dated list with year tabs (2011-2026), and every entry is typed: Financial Results, Timely Disclosure, IR Topics or IR News. It carries tanshin, decks, AGM notices, annual reports, timely disclosures and rating news. The integrated reports are not in it (the 2025 edition was announced only in the homepage's corporate news), and English timely disclosures are missing for calendar 2024. One dated, typed page that does not cover every type, so 4.
確認メモ（原文・英語）The archive goes back years across types. Tanshin cover every quarter from FY2015, plus FY2014. Decks run half-year and full-year from FY2014 to H1 FY2026. Integrated Reports 2023-2025, the AGM notices from the 75th to the 81st, the FY2025 audited Annual Report, and IR News from 2011. Several years across types, so 5.
確認メモ（原文・英語）A dedicated English IR inquiry form exists (Contact Us > 'IR - Inquiry about IR', with a link to the Corporate Planning Dept.'s contact details), but the English IR top and IR menu do not link to it: the reader reaches it only through the site-wide 'Contact Us' header link and its category tiles. Genuine IR route, not obvious. The English tanshin names Tetsuya Inoue, Executive Vice President, +81-(0)72-855-2225.
確認メモ（原文・英語）The English tanshin went up the same day as the Japanese in every period checked (English IR News against Japanese IR News): Q3 7 Aug 2026, Q2 11 May 2026, Q1 6 Feb 2026, FY2025 7 Nov 2025. The English PDFs were created a day or more earlier. The decks are later. H1 FY2026: Japanese 2 Jun 2026, English 9 Jun (7 days). FY2025: Japanese 25 Nov 2025, English 5 Dec (10 days). There are no Q1 or Q3 decks in either language; the tanshin say no supplementary material. Tanshin same day, decks later, so 4.
確認メモ（原文・英語）Lags, English against Japanese, from the IR News lists. Q3 tanshin 7 Aug / 7 Aug 2026 = 0. Q2 tanshin 11 May / 11 May 2026 = 0. 81st AGM notice: Japanese 26 Nov 2025, English 3 Dec 2025 = 7. Corporate Governance Report: no English, so more than 90. Securities report (yuho, 19 Dec 2025): the English 'Annual Report' posted 19 Dec is the audited consolidated statements only, not a version of the report, so counted as untranslated (more than 90). Sorted 0, 0, 7, >90, >90: the median is 7, so 4. If the audited statements counted as the yuho's English version, the median would be 0 and the score 5; the floor is recorded.
確認メモ（原文・英語）The Japanese timely disclosures from 15 Oct 2025 to 14 Oct 2026 (/jp/ir/library/year.html and the Japanese IR News), excluding results, are seven. Year-end dividend 7 Nov 2025; restricted-stock disposal 9 Jan 2026 and its payment completion 6 Feb 2026; Q2 forecast revision 8 May 2026; interim dividend 11 May 2026; dividend forecast revision (110th-anniversary dividend) 11 May 2026; full-year forecast revision 7 Aug 2026. Each has an English counterpart in the English IR News on the same date. All, same day, so 5. Earlier, calendar 2024's Japanese disclosures (buyback, merger of a subsidiary, capital-reserve reduction, officer change, forecast revisions) have no English entries, but that is outside the twelve months.
確認メモ（原文・英語）We rendered the English homepage, IR top, Indemnifications (the IR disclaimer page), Site Info, FAQ, Stock & Ratings, IR Calendar and Management Greetings, and searched the visible text for translation notices. There is no machine- or AI-translation notice or pop-up anywhere. The FAQ's English is visibly machine-like ('I applied powders technology to...'), but nothing presents it as machine-translated. The documents carry only the human-translation precedence line ('translated from the Japanese original for reference purposes only ... the original shall prevail'), which is R5's. So 5.
確認メモ（原文・英語）The tanshin ('translated from the Japanese original for reference purposes only ... the original shall prevail'), the results deck (last page) and the AGM notice each carry the disclaimer. The Integrated Report 2025 and the audited Annual Report carry none. Disclaimed on some documents.
Powder-processing growth and FY2027 operating-return targets
The dated milestone is publication of the Japanese Integrated Report 2025 update, not initial launch of the existing FY2025-FY2027 plan; the English report supports the extracted targets. August 2026 results update the nearer-term outlook separately.
時系列と出典（2件・内容は原文）
2026-04-13Integrated Report 2025 published Issuer publication notice confirms an update explaining 18th-plan positioning and progress.出典資料1
2026-08-07Annual earnings forecast revised Current-year forecast reflects European profitability pressure; this is not a verified revision of the FY2027 plan.出典資料1
経営陣が表明したこと
The 18th plan targets ¥100bn sales, 10% margin and 10% ROE.
FY2025 sales were ¥77.994bn. August 2026 guidance is ¥83bn sales and ¥4.5bn operating profit for September 2026, after European profitability pressure; these are forecasts, not final results.
Investor question: Which powder-processing projects drive the margin and ROE improvement? IR preparation: bridge segment growth, service mix, deployed capital and the different allocation horizons.
当調査の分析（会社の説明ではありません）
約束は具体的か4／5Group sales, profitability and capital-return targets have a defined fiscal endpoint.
実行の経過を追えるか3／5FY2025 actuals and strategic initiatives provide progress evidence, without a complete project-level target-to-actual bridge.
経済性を説明しているか3／5ROE and capital allocation are discussed; allocation horizons differ and must not be combined mechanically.
The report presents growth investment and shareholder returns, but its updated FY2026-FY2028 cash allocation extends beyond the FY2027 operating-plan endpoint and must be tracked separately.
資本構成
Management emphasizes financial stability and strategic use of cash and leverage; the selected report does not fully reconcile investment funding and project returns.
資本政策の意思決定
Management maps subsidiary ROE and operating margins to assess progress toward the plan; powder-processing equipment serves semiconductor encapsulants, MLCCs and battery materials.