確認メモ（原文・英語）Consolidated Financial Results for the Three Months Ended June 30, 2026, 30 July 2026, the same day as the Japanese, and every quarter back to FY2019 is in the English library. But the English stops at the statements: the Q1 release is 10 pages against the Japanese 12, and its own table of contents ends at the cash flow statement, leaving out section (4), the notes to the quarterly statements with the segment information note, even though the English text refers the reader to it. The full-year release (13 May 2026) is 16 pages against the Japanese 23, ending at the cash flow statement with no notes and no segment note. Current every quarter but without the statutory notes, so the segment note exists only in Japanese.
確認メモ（原文・英語）Read against the Japanese. The English Q1 FY3/2027 release ('Consolidated Financial Results for the Three Months Ended June 30, 2026', 30 Jul 2026) is 10 pages against the Japanese 2027年3月期 第1四半期決算短信 (12). It has the summary pages, the qualitative section (results by segment, financial position, outlook) and the balance sheet, income/comprehensive income statements and cash flow statement. Its table of contents stops at '(3) Quarterly Consolidated Statement of Cash Flows'. The Japanese goes on to （4）四半期連結財務諸表に関する注記事項 (going concern, equity changes, セグメント情報等の注記). The English text still tells the reader to see '(4) Notes' for the change of reporting segments this quarter, and that section is not there. Same pattern at the half year (EN 12 pp, TOC ends at the cash flow statement; JP 12 pp with the segment note on p.12) and the full year (EN 16 pp against JP 23). The notes, the segment note above all, are cut, so 3.
確認メモ（原文・英語）The latest English statements, in the Q1 FY3/2027 release (30 Jul 2026) and the FY3/2026 release (13 May 2026, 16 pp: balance sheet, income and comprehensive income, changes in equity, cash flows), carry no notes. The only English statements with notes are the 68-page 'Consolidated Financial Statements' for the year ended 31 March 2025 (with the auditor's report) on the Integrated Reports page. No edition exists yet for the year ended March 2026, so the notes are for the year-end before last. The yuho is not in English. For the latest period and the latest year end there are statements without notes, so 3. 4 would need the notes at least for the latest year end.
確認メモ（原文・英語）The Integrated Reports page pairs each report with 'Consolidated Financial Statements', a 68-page word-for-word translation of the statements and notes filed in the securities report, with the independent auditor's report. The latest is for the fiscal year ended March 31, 2025 (created 2 October 2025); none yet for the year to March 2026. No business overview, risk factors, MD&A, governance or shareholding sections of the yuho are in English. Financial statements only.
確認メモ（原文・英語）Every English tanshin gives orders, net sales and operating profit for each segment in the qualitative section. Q1 FY3/2027 uses the new segments: Power Transmission (sales ¥34,339m, OP ¥3,709m), Mobility (¥33,209m, ¥3,229m), Materials Handling Systems (¥14,463m, loss ¥730m) and Other. FY3/2026 and earlier quarters use Chains, Motion Control, Mobility and Materials Handling. The English Data Summary each quarter and the highlights page's five-year segment charts back this up. But the English never states the segment definitions. The segment note is cut from every English tanshin. At this Q1 the segments were redrawn (Chains and Motion Control merged into Power Transmission), and the English refers the reader to a note it does not carry; only the MTP deck's footnote says prior years are the sum of the two old segments. Every period, definitions unstated, so 4.
確認メモ（原文・英語）There is no downloadable data file. A crawl of the English IR site (IR top plus one hop, 28 pages: highlights, IR library, financial statements, presentations, MTP, integrated reports, stock, meeting, news) found no .xls, .xlsx or .csv link. What is there instead: the 'Financial Data for Past Five Years' HTML tables on /ir/highlights/ (FY2021-FY2025 sales, OP, net income, EPS, ROE, total assets, net assets, equity ratio, with image charts), and an annual 4-page 'Data Sheet' and quarterly 'Data Summary' as PDFs. HTML and PDF tables do not count.
確認メモ（原文・英語）The forecast and its basis are both in English. The FY3/2026 release (13 May 2026), '(4) Outlook for the Current Fiscal Year', gives the FY3/2027 forecast: net sales ¥350.0bn, OP ¥25.5bn, ordinary ¥26.0bn, net ¥22.0bn, plus the first half. It gives the market view (US tariffs, slow Chinese recovery, the Middle East) and the FX assumptions: USD 148 and EUR 180. The English FY2025 results deck (22 pp) has the full-year forecast with the FX line and separate Power Transmission, Mobility and Materials Handling forecast pages. Revisions are explained in English: 'Notice Regarding Revision of Consolidated Results Forecast' (31 Oct 2025, same day as the Japanese) says it is due to sluggish materials handling in the US and China. The May 2026 forecast-versus-actual notice is in English too. The Q1 release says the forecast is unchanged. FX, market view and segment forecasts, with revisions explained, so 5.
確認メモ（原文・英語）English results for the three months to 30 June 2026 published 30 July 2026, the same period and day as the Japanese first-quarter tanshin (the half-year results are not due until end-October).
確認メモ（原文・英語）Mid-Term Management Plan 2030 (FY3/2027-FY3/2031), English deck 44 pages, the same as the Japanese 中期経営計画2030 (44). It has the consolidated targets for FYE March 2031: net sales ¥450.0bn or more, OP ¥45.0bn or more, OPM 10%, ROE 10%. It has segment targets (Power Transmission ¥160.0bn/¥23.0bn, Mobility ¥170.0bn/¥20.0bn, Materials Handling ¥96.0bn/¥5.0bn, Other ¥30.0bn), a five-year cash allocation (business investment about ¥100bn, growth investment about ¥40bn, returns ¥70-90bn, payout 35% or more, policy shareholding sales ¥15bn+), and non-financial KPI targets. The English 42-page script with Q&A comes with it. It is complete, but late: the Japanese was posted 29 May 2026 (Japanese IR news) and the English deck's PDF was created 29 June 2026, and the script likewise (Japanese script created 8 Jun). Complete, a month late, so 4.
確認メモ（原文・英語）The English 'Settlement of Accounts Presentation Meeting' library matches the Japanese item for item: a Data Summary every quarter (Q1 FY2026, 12 pages, 30 July 2026, the same day as the Japanese), and at the half and full year the presentation deck plus the speaker scripts with Q&A (FY2025 full year: 22-page deck and 19-page script, the Q&A in the 42-page Mid-term Management Plan 2030 script). But going by PDF creation dates the English decks and scripts trail: the full-year deck was created 29 June 2026 against the Japanese 28 May, and the script 29 June against 8 June. The Q2 FY2025 deck was created 4 December 2025 against 19 November. Every period with the supplements, but weeks late.
確認メモの要点（当調査による日本語要約）英語IRトップから「Tsubaki at a Glance」の専用ページに移動でき、4つの強みや数字を示しますが、強み自体は定性的で、シェアの割合や収益指標がないため4点です。
確認メモ（原文・英語）The English IR top links 'Message to Individual Investors' ('we've summarized information related to our strengths and business performance') to 'Tsubaki at a Glance' (/company/what-is-tsubaki/). That is a dedicated page with 'Tsubaki's Four Main Businesses', 'Tsubaki's Four Strengths' (solutions expertise, product development, manufacturing expertise, global readiness), 'Tsubaki by the Numbers' (FY2025 sales ¥295.8bn, 111 companies in 28 countries and regions, 12,228 employees, 63% overseas sales, 56% overseas employees) and 'Tsubaki as a Global Leader' (the world's largest share of industrial steel chains and automobile timing chains, by in-house research). It is specific, but the strengths themselves are qualitative: no market-share percentages, margins or returns are attached to them, and there is no 'why invest' framing. Dedicated and specific but mostly qualitative, so 4.
確認メモ（原文・英語）The English MTP 2030 deck names the drivers by segment and puts numbers on them. Power Transmission: sales ¥126.3bn to ¥160.0bn, CAGR 4.8%, OP ¥23.0bn. It names local manufacturing using DAIDO KOGYO's bases, ATRA-FLEX couplings (about 1% of the North American coupling market, expected CAGR about 6%), and local production of conveyor chains. Mobility: CAGR 11.8% to ¥170.0bn, from timing-chain share and DAIDO KOGYO's motorcycle chains in India and South America. Materials Handling: CAGR 6.3% to ¥96.0bn. Each has a sales/OP bridge chart, and growth investment of about ¥40bn (R&D, new business, M&A) is set out. Named drivers with numbers attached, so 5.
確認メモ（原文・英語）The Japanese side publishes a script with Q&A for each half-year and full-year briefing (決算説明会資料スクリプト（質疑応答含む）) and for the MTP briefing. The English 'Settlement of Accounts Presentation Meeting' and MTP pages match every one: FY2025 Q2 script with Q&A (34 pp; JP 36), FY2025 full-year script (19 pp; JP 19), MTP 2030 script with a 'Question & Answer' section (42 pp; JP 43), and FY2024 Q2/Q4 and FY2023 Q2/Q4 back to FY2021. The quarterly Q1/Q3 briefings have none in either language. All arrive late by PDF creation date (the English page gives no posting date): FY2025 Q2 EN 2 Dec 2025 vs JP 28 Nov; FY2025 full year and MTP EN 29 Jun 2026 vs JP 8 Jun; FY2024 full year EN 1 Jul 2025 vs JP 4 Jun. Every briefing, but late, so 4.
確認メモ（原文・英語）TSUBAKI REPORT 2025 integrated report in English, 72 pages (created 13 November 2025), reporting period 1 April 2024 to 31 March 2025 per its editorial policy. The Japanese TSUBAKI REPORT 2026 was posted on 1 October 2026 and has no English edition yet. The complete report, one edition behind.
確認メモ（原文・英語）The English MTP 2030 deck opens with 'Review of Previous Mid-Term Management Plan' (pp.3-11). MTP 2025's targets are set against FYE March 2026 actuals: net sales ¥295.8bn vs ¥300.0bn (98.6%), OPM 7.3% vs 10% (-1.7pt), ROE 10.7% vs 8% (+2.7pt). A table gives the five-year path against each segment's OP and margin target (Chain ¥15.3bn vs ¥12.0bn, Motion Control ¥0.9bn vs ¥3.8bn, Mobility ¥10.0bn vs ¥10.4bn, Materials Handling ¥0.9bn vs ¥5.4bn), payout and ROE. The per-segment pages explain the variances: 'operating income ratio fell short of the target', 'the situation remains challenging, and the targets were not achieved'. The non-financial KPIs are set against target and result, and the two-year cash allocation plan against the result, with the reasons for missing the return target (treasury stock used in the DAIDO KOGYO share exchange). Reconciliation with the variances explained, so 5.
確認メモ（原文・英語）The English Corporate Governance page gives the basic policy, the board, the Nomination and Remuneration Committee, board evaluation, internal control and policy shareholdings. Its link to the Corporate Governance Report is marked '*Japanese Version' and opens the Japanese TSE filing (last updated 29 July 2026). A governance narrative written for the site in place of the filing.
確認メモ（原文・英語）The English notice of the 117th AGM (meeting 26 Jun 2026) proposes all six directors, the whole board: Kose, Kimura, Miyaji, and outside directors Ando, Kitayama and Tanisho. Each has a dated career history including when they joined the board (e.g. Ando 'June 2017 Outside Director, the Company (present)'), FY2025 board attendance (14/14), shares held, significant concurrent positions and the reasons for nomination and expected role. The three outside directors are marked [Outside] [Independent] and designated Independent Officers. The English Corporate Governance page repeats the reasons for appointment of each independent director and auditor. Tenure, expertise and independence for every director, so 5.
確認メモ（原文・英語）The English 117th AGM notice (p.12) has 'Skill Matrix for Individual Officers' for the post-AGM board. It maps the six directors and four Audit & Supervisory Board members against seven skills: corporate management, global experience, technology/development/production, sales/marketing, finance/accounting, legal/compliance and risk management (up to three each). The English Corporate Governance page carries the same matrix. Current matrix in English, so 5.
確認メモ（原文・英語）The English Corporate Governance page and TSUBAKI REPORT 2025 (p.50) set out the structure. Inside directors get fixed and performance-based monetary pay plus restricted stock; outside directors and auditors get fixed pay only. Policy is set by the Nomination and Remuneration Committee. The amounts are given by type: directors ¥232m (fixed ¥144m, performance-based ¥55m, restricted stock ¥32m; 6 people; outside ¥31m), auditors ¥66m. But nowhere in English are the KPIs that drive the performance-based pay named or weighted. The MTP review only says the company 'changed officer remuneration system indicators'. Structure and amounts without the KPIs, so 3 (ruling).
確認メモ（原文・英語）Notice of the 117th Annual General Meeting in English, 13 pages, PDF created 28 May 2026 (dated 9 June) for a meeting on 26 June. That is about four weeks going by the creation date, and the English page gives no posting date. It has the reference documents for all three proposals, with each of the six director candidates and the substitute auditor and the reasons for nomination. It gives the advance-voting deadline (5:30 p.m. on 25 June 2026, Japan time). It does not describe the voting methods, and no route is marked Japanese-only. The 'part of the original' line is disregarded under the convention. 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.
確認メモ（原文・英語）The English General Meeting of Shareholders page carries convocation notices only (111th to 117th), and the English IR news list from April to October 2026 has no resolutions or voting-results item. The Japanese meeting page has a notice of resolutions (2026_resolution.pdf) with no English counterpart.
確認メモ（原文・英語）The English Corporate Governance page ('Policy Shareholdings: Policies and Approach Regarding Reduced Policy Shareholdings') and TSUBAKI REPORT 2025 (p.51) give the policy and rationale. Shares are held in business partners that contribute to medium- to long-term value. The board checks each holding every year against transactions, profitability, market-price risk and dividends, and sells holdings that cannot be justified. The voting criteria are given too. The MTP 2030 cash allocation (p.24) sets a target: sale of policy shareholdings of ¥15bn or more over the five years. But no English source gives the number of holdings or their book or market value (that table is in the Japanese yuho only), and there is no year-by-year progress against the target. The integrated report only says reductions raised ROE. Policy, rationale and a target without the holdings numbers or progress sits between 2 and 4; recorded as 3.
確認メモ（原文・英語）On the English homepage (tsubakimoto.com) 'Investor Relations' is a visible link in the global navigation. Clicking it in the rendered browser goes straight to https://tsubakimoto.com/ir/; the drop-down is only an extra. One click, so 5.
確認メモ（原文・英語）We sampled 30 English document links across types and years. Tanshin: Q1 FY26 (30 Jul 2026), FY25 (13 May 2026), Q2 FY25, Q2 2019, Q1 2016. Decks: FY2025, FY2025 Q2, May 2019, Nov 2015. Scripts: FY2025, FY2025 Q2, FY2024, FY2023 Q2. Data Summaries: Q1 FY26, Q3/Q4/Q2 FY25. Data Sheet 2022. MTP 2030 deck and script. AGM notices 2026, 2023 and 2020. TSUBAKI REPORT 2025 and 2019. Consolidated Financial Statements 2025 and 2015. Sponsored research reports Jan 2026 and Sep 2021. Timely disclosures: treasury stock 1 Oct 2026, Daido Kogyo results 6 Feb 2026, extraordinary income 13 May 2026, forecast revision 31 Oct 2025. All open as English documents; the only Japanese text is stray characters (e.g. a PDF title 'PowerPoint プレゼンテーション'). The only Japanese target is the CG report link, and it is labelled '*Japanese Version'. So 5.
確認メモ（原文・英語）In the same sample of 30 links, from 2015 to 2026 (tanshin, decks, scripts, data summaries and sheets, MTP, AGM notices, integrated reports, financial statements, research reports, timely disclosures), every one opened as a live PDF of 1 to 72 pages. A crawl of 28 English IR pages returned HTTP 200 for each. No dead links, so 5.
確認メモ（原文・英語）We rendered the English IR top, Latest IR Information, IR library, financial statements, presentations, MTP, integrated reports, sponsored research, highlights, stock information (share status, dividends, meeting), calendar, FAQ, disclosure policy, IR news and the governance page in Chrome. All render their content. The IR news widget lists items, and the lists are full back to FY2015/16. The image charts on the highlights page (five-year, four segment charts, regional map) lazy-load on scroll and rendered; the shareholder-composition pie charts render. The English site has no stock-price widget or iframe to fail. So 5.
確認メモ（原文・英語）The English IR library is split by type across pages, each dated. Financial Statements lists every quarter by fiscal year with an 'Announced <date>' line. Settlement of Accounts Presentation Meeting lists decks, scripts, data summaries and data sheets by fiscal quarter. MTP, Integrated Reports (by FY), Sponsored Research Report and General Meeting of Shareholders are separate pages. The IR news list (/company/news/ir/) is dated and typed ('Timely Disclosure', 'IR Information'). But it carries only tanshin, timely disclosures and quarterly data summaries; decks, scripts, the MTP, AGM notices and integrated reports are not on it. 'Latest IR Information' shows only the newest item per type. Split by type across several dated pages, so 3 (ruling).
確認メモ（原文・英語）The archive is deep across every type. Tanshin for every quarter from Q1 FY2016 (Aug 2016) to Q1 FY2026. Decks and data summaries from FY2015, and briefing scripts with Q&A from FY2021. Integrated reports and Consolidated Financial Statements for FY2015-FY2025. AGM notices for 2020-2026 (111th-117th). Sponsored research reports 2021-2026. IR news by year back to 2018. Several years across document types, so 5.
確認メモ（原文・英語）The only contact on the English site is the shared 'Contact' link (contact.tsubakimoto.com). That is a Tsubaki product information request form whose required product-type list has no IR or investor category. The IR pages (FAQ, calendar, stock procedures) offer no IR address, phone or form; only the share registrar's phone line is given. The English tanshin names Yukiko Noguchi, Manager, Sustainability Strategy Department, +81-6-6441-0054. Named only in the document header, with no IR route on the site.
確認メモ（原文・英語）The tanshin is same-day every period read. TDnet (kabutan) shows the English and Japanese at the same minute: Q1 FY3/2027 30 Jul 2026 15:30, FY3/2026 13 May 2026 16:00, Q3 6 Feb 2026 15:30, Q2 31 Oct 2025 15:30. The English library's 'Announced' dates match. The quarterly Data Summary (補足資料) is same-day too: Q1 FY26 both created 30 Jul; FY25 EN created 13 May vs JP 22 May. But the briefing decks are late by PDF creation date (the English page gives no date for them). FY2025 deck: JP created 28 May (posted 29 May), EN 29 Jun 2026. FY2025 Q2 deck: JP 19 Nov 2025, EN 4 Dec 2025. Tanshin same day, deck later, so 4.
確認メモ（原文・英語）English against Japanese, from TDnet times on kabutan and the Japanese IR news list. Q1 FY3/2027 tanshin: 30 Jul / 30 Jul = 0. FY3/2026 tanshin: 13 May / 13 May = 0. 117th AGM notice: both on TDnet 29 May 2026 08:00 = 0. Corporate Governance Report: Japanese filed 30 Jul 2026, no English (the English governance page links the Japanese), so more than 90. Securities report (yuho): Japanese posted 25 Jun 2026, no English; the English 'Consolidated Financial Statements' carries only the statements, and none exists yet for FY3/2026, so more than 90 (ruling). Sorted 0, 0, 0, >90, >90: median 0, so 5.
確認メモ（原文・英語）TDnet (kabutan), 16 Oct 2025 to 15 Oct 2026, against the English IR news list. Every core timely disclosure has a same-minute English version on TDnet and the English IR news list. Forecast revision (31 Oct 2025). Treasury-stock status (4 Nov, 21 Nov 2025; 1 Jul, 3 Aug, 1 Sep, 1 Oct 2026). Fractional-share purchase after the Daido Kogyo share exchange (28 Jan 2026). Daido Kogyo results disclosure (6 Feb). Subsidiary establishment (9 Apr). Buyback decision and extraordinary income / forecast-actual difference (13 May). ToSTNeT-3 purchase and result (18-19 Jun). Restricted-stock disposal and payment (26 Jun, 24 Jul). Not matched: the sponsored research report notice (JP 26 Dec 2025, EN '〔Delayed〕' 27 Jan 2026), and the share-exchange statutory documents (法定事前開示書類 11 and 26 Dec 2025, 法定事後開示書類 5 Jan 2026), which have no English. All core items same day, one late and the statutory share-exchange papers missing, so 4.
確認メモ（原文・英語）We rendered the English homepage, IR top, IR library pages, FAQ, disclosure policy and Terms of Use, and searched the visible text. There is no machine- or AI-translation notice and no translation pop-up. The documents (tanshin, AGM notice, consolidated statements, integrated report, decks, MTP) have no machine-translation disclaimer, only the human-translation precedence line ('translated from the Japanese original for reference purposes only ... the original shall prevail'), which belongs to R5. 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 AGM notice and the translated consolidated financial statements each disclaim in favour of the Japanese. The results presentation deck, the scripts and the integrated report carry no such statement. Disclaimed on some documents.
Investor question: Which automation businesses merit more capital? IR preparation: show segment returns, integration costs, synergy milestones and allocation alternatives.
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4／5The issuer library dates the plan and the filed report quantifies its endpoint.
実行の経過を追えるか3／5The selected sources describe integration priorities, but do not reconcile new-plan capital deployment.
経済性を説明しているか3／5Group targets and payout policy are specific; a complete capital-cost and investment-return bridge remains unassessed.
目標に対する結果を報告しているか時期未到来The FY2030 endpoint is not due.
The plan combines business investment with a payout guideline of at least 35%; a complete five-year cash-allocation bridge has not been assessed in this source set.
資本構成
The issuer FAQ says funding and financial standing inform distributions; numerical liquidity and leverage limits require further review.
資本政策の意思決定
The new plan combines profitability targets with portfolio concentration and power-transmission integration.