確認メモ（原文・英語）No English tanshin. The English Financial Information section (Financial Highlights, Electronic Public Notice) and the English News & Release page carry no results summaries; the Japanese 決算短信・有価証券報告書 page (latest: Q3 FY Sept 2026, 7 August 2026) lists Japanese PDFs only.
確認メモ（原文・英語）No English tanshin. The English Financial Information top, Financial Highlights, Electronic Public Notice and News & Release pages carry no results summary; the Japanese 決算短信・有価証券報告書 page lists every tanshin from FY2020 to Q3 FY Sept 2026 (7 Aug 2026, 10 pp, with segment note) in Japanese only.
確認メモ（原文・英語）No English financial statements with notes from any source: no English tanshin, securities report, annual or integrated report. The only English financial content is the Financial Highlights page of five bar-chart images (sales, ordinary profit, net income, EPS, total/net assets, R&D, 65th-69th fiscal years), which is headline figures without statements.
確認メモ（原文・英語）No securities report in English under any name. The 有価証券報告書 (FY Sept 2025, 18 December 2025) and 半期報告書 are on the Japanese tanshin page only; the English site has no library.
確認メモ（原文・英語）No segment figures in English. The Japanese Q3 FY2026 tanshin gives sales and segment profit by reportable segment (narrative p4 and segment note p9), and the 株主通信 has セグメントの業績, but neither has an English version; the English Financial Highlights charts are company totals only. The English product pages name the business lines (wire saws/advanced materials, semiconductor, display, textile, medical) without any numbers.
確認メモ（原文・英語）No downloadable data file. The English IR pages (Financial Information top, Financial Highlights, Electronic Public Notice, News & Release 2025/2026) link no .xlsx/.xls/.csv; the Financial Highlights page is five years of bar-chart images only, which do not count.
確認メモ（原文・英語）No English guidance. The FY Sept 2026 forecast (re-issued on a non-consolidated basis on 14 May 2026, 特別利益の計上…通期業績予想の公表に関するお知らせ) and the forecast sections of the tanshin are in Japanese only; nothing on the English IR pages or News & Release states a forecast or explains its absence.
確認メモ（原文・英語）The only English financial content is the Financial Highlights page: five bar charts (sales, ordinary profit, net income, EPS, total/net assets, R&D) for the 65th-69th fiscal years, ending with the 69th (year to September 2025: sales 7,330 million yen, matching the Japanese FY2025 tanshin), updated 22 December 2025. The Japanese side has since filed Q1, H1 and Q3 FY Sept 2026 (latest 7 August 2026). Three reporting periods behind, headline charts only: beyond the two-periods band, so the floor below it.
確認メモ（原文・英語）No medium-term plan in either language. The English site (Company Information, President's message for the 71st fiscal year, Financial Information) has no plan or numerical targets; the Japanese IR pages (tanshin, 株主通信, その他開示情報) carry no 中期経営計画 either (no match in the Q3 FY2026 tanshin or the 70th interim newsletter).
確認メモ（原文・英語）No English presentation. The English site has no presentation materials; the Japanese side holds no results briefing and prepares no supplementary materials (stated in every tanshin), so there is nothing to translate.
確認メモ（原文・英語）No investor-facing equity story. What exists in English is a generic corporate introduction: Our Profile/Access (company data, banks, 200 employees as of Oct 2022), the President's message for the 71st fiscal year ('Challenge to Become a Future-Creating Company', aspirational, no figures), and a 'Takatori's Core Technologies' slogan page linking to product pages. None frames strengths for an investor or quantifies them. Generic corporate introduction.
確認メモ（原文・英語）Growth drivers are only vague in English. The President's message speaks of anticipating market shifts, creating 'new markets and businesses' and value 'even before a market has clearly taken shape', with no named market or number; the product pages and exhibition releases (SEMICON Taiwan and India 2026) show SiC wire saws and panel-level packaging laminators but attach no market size, share, capacity or contribution. Vague.
確認メモ（原文・英語）No transcript or Q&A in English, and the Japanese side has none either: every tanshin states 決算説明会開催の有無：無 (no results briefing held), and the Japanese IR menu has no briefing page.
確認メモ（原文・英語）No integrated, annual or business report in English. The Japanese side publishes only the 株主通信 shareholder newsletter (latest: 70th interim, 3 June 2026), in Japanese only; the English site has none.
確認メモ（原文・英語）No previous medium-term plan in either language to reconcile against (see S1); neither the English pages nor the Japanese tanshin and newsletters set plan targets against actuals.
確認メモ（原文・英語）No Corporate Governance Report and no governance content in English: the English site's menus (Company Information, Introduction to Products, Financial information) and sitemap have no governance page. The Japanese IR pages do not link a CG report either.
確認メモ（原文・英語）No director biographies in English. The English site has no board or officer page (Our Profile lists only the President), no AGM notice and no governance page. The only English mentions of directors are position changes in the 29 Sep 2026 Announcement of Organizational and Personnel Changes, which is not a board listing. Biographies are in the Japanese 第69期定時株主総会招集通知 only.
確認メモ（原文・英語）No remuneration disclosure in English: no securities report, AGM notice or CG report in English; remuneration is in the Japanese 有価証券報告書 (FY Sept 2025, 18 Dec 2025) and convocation notice only.
確認メモ（原文・英語）No English AGM notice. The 69th AGM notice and electronic-provision matters (December 2025) are on the Japanese 株主総会情報 page only; nothing on the English Financial Information or News & Release pages.
確認メモ（原文・英語）The Japanese 株主総会情報 page has 議決権行使結果 notices for every meeting (69th: vote_69.pdf); the English site has no meeting page and no voting results.
確認メモ（原文・英語）No cross-shareholding disclosure in English: no securities report, CG report or integrated report in English. The holdings table is in the Japanese 有価証券報告書 only.
確認メモ（原文・英語）The English homepage header has a plain 'Financial information' link (no hover menu) straight to the English IR top https://www.takatori-g.co.jp/english/ir/index.html. One click; the homepage also lists IR news linking to the News & Release page.
確認メモ（原文・英語）There are only three English IR documents, so the sample of ten takes every English document link on the site: Announcement of Executive Personnel Change (1 Oct 2026), Announcement of Organizational and Personnel Changes (29 Sep 2026), Notice of Organizational Changes and Personnel Changes (5 Oct 2020, 7 pp), the Financial Highlights and Electronic Public Notice pages, and five topics releases (SEMICON India exhibited 19 Sep 2026, SEMICON India 15 Sep 2026 (image PDF titled 英語), SEMICON Taiwan 2 Sep 2026, invention-award ceremony 17 Jun 2026, National Commendation for Invention 26 May 2026). All English (cjk=0 in every text PDF). All English, though the sample is thin because the library is.
確認メモ（原文・英語）The same ten links (see O2) all opened in the rendered browser: the eight PDFs rendered with text or image content and the two pages rendered. None dead.
確認メモ（原文・英語）The English IR top, Financial Highlights (six bar charts render), Electronic Public Notice ('no electronic notification...') and News & Release 2025/2026 pages all render their content. But the 'Stock Price News' side box on every English IR page is blank: its iframe loads http://www.stock-life.net/... into an https page and is blocked as mixed content (the Japanese IR pages load the https version and render the price and chart). The English IR top's own news list is stale (latest 25 Dec 2020) rather than empty. A widget fails; the content is there.
確認メモ（原文・英語）No single library. English IR items sit on two dated, untyped lists: the IR top's list (Financial Highlights update 25 Dec 2020, Notice of Organizational Changes 5 Oct 2020) and the separate News & Release page with 2026/2025 year tabs (two 2026 timely disclosures, the 22 Dec 2025 Highlights update), which is linked from the homepage but not from the IR top and does not carry the 2020 notice. Split across pages, each dated.
確認メモ（原文・英語）A shell with a few items: three English IR documents in all (one from October 2020, two from Sep/Oct 2026) plus the Financial Highlights page; News & Release archives go back only to 2025 and hold three entries. No results, AGM or report archive in English.
確認メモ（原文・英語）The English 'Contact' link (header of every page, including Financial Information) leads, after a privacy-policy agreement step, to a shared inquiry form whose required 'Type of inquiry' list is the product lines plus 'IR/Other (not mentioned above)'. A shared form with an IR category, not a dedicated IR route. The English timely disclosures and the Japanese tanshin name Kenichi Shigetomi, Executive Managing Director, Executive Manager of Administrative Dept., +81-744-24-8580.
確認メモ（原文・英語）No English earnings materials: no English tanshin or deck for any period (latest Japanese: Q3 FY Sept 2026 tanshin, 7 Aug 2026; Q2 14 May 2026). The Japanese side has no deck either. The English Financial Highlights update for FY Sept 2025 came on 22 Dec 2025, 40 days after the 12 Nov 2025 Japanese tanshin, and is charts only.
確認メモ（原文・英語）None of the five statutory documents is in English: Q3 FY2026 tanshin (JA 7 Aug 2026), Q2 tanshin (JA 14 May 2026), 69th AGM notice (JA Dec 2025), securities report (JA 18 Dec 2025) all have no English version, and no Corporate Governance Report is linked on either side. All count as >90 days; with none in English the band is 0.
確認メモ（原文・英語）The Japanese その他開示情報 and tanshin pages list 13 non-results timely disclosures from 16 Oct 2025 to 15 Oct 2026: buyback status/completion (4 Nov, 1 Dec, 12 Dec 2025), board-effectiveness summary (12 Nov), dividend of surplus, auditor resignation/officer changes and takeover-defence renewal (27 Nov), officer change (19 Dec), FASF membership (22 Dec), forecast/extraordinary-gain notice (14 May 2026), semiconductor equipment order (19 Jun), organizational/personnel changes (29 Sep) and personnel change (1 Oct). The English News & Release has only the last two, listed on the Japanese dates (29 Sep, 1 Oct 2026) but with PDFs created 9 Oct 2026, so probably posted 8-10 days late. 2 of 13. A few.
確認メモ（原文・英語）No machine-translation notice anywhere rendered: the English homepage, IR top, Financial Highlights, News & Release, company pages and the two English disclosures show no translation banner or pop-up (the only language links are to the Japanese site and, on the President's message, 日本語/中文 versions). The English Terms of Service has only a general 'cannot warrant the information' clause with no mention of machine translation. Nothing presented as machine-translated.
確認メモ（原文・英語）The only English IR documents - Announcement of Organizational and Personnel Changes (29 September 2026, 3 pages) and Announcement of Executive Personnel Change (1 October 2026, 1 page) - carry no prevailing-language statement either way, and neither does the Financial Highlights page. No tanshin, deck or AGM notice exists in English to check. Silent.
Semiconductor-equipment R&D and lower-profit outlook
Takatori forecast lower FY2026 earnings while citing stronger R&D in priority fields, then reaffirmed the outlook after first-half variances.
時系列と出典（1件・内容は原文）
2025-11-12Plan or update announced Takatori forecast lower FY2026 earnings while citing stronger R&D in priority fields, then reaffirmed the outlook after first-half variances.出典資料1
経営陣が表明したこと
Management forecasts ¥7bn sales and ¥430m operating profit while strengthening R&D in priority fields.
Investor question: How much R&D is incremental and what commercial milestones justify it? IR preparation: disclose spend, programs, customer qualifications, orders and return thresholds.
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4／5Annual sales, profit and dividend are quantified, but the R&D commitment lacks amount and milestones.
実行の経過を追えるか3／5Management reports first-half variance and maintained the outlook, but no R&D deployment or output bridge is supplied.
経済性を説明しているか2／5The strategic rationale is broad and lacks ROIC, hurdle rates, cash allocation and capital-structure guardrails.
目標に対する結果を報告しているか時期未到来The FY2026 endpoint is not yet reported.
Takatori expects lower FY2026 profit as it strengthens R&D in priority areas, including semiconductor manufacturing equipment, but does not quantify R&D spending or expected returns.
資本構成
The company retains a high equity ratio and a stable ¥40 dividend forecast, while target cash, leverage and payout parameters are not stated.
資本政策の意思決定
Management explains the broad reason for lower profit and later reports first-half variance, but no medium-term ROIC, capital allocation or milestone framework is provided.