確認メモ（原文・英語）Consolidated Financial Results for the Three Months Ended June 30, 2026 [Japanese GAAP], 15 pages against the Japanese 13, with the overview of operating results, the statements and the segment information; the full-year release is 26 pages to the Japanese 23, and every quarter back to 2021 is in the English Financial Results tab. The English files trail the Japanese by a few days: Q1 created 6 Aug for 4 Aug, FY 14 May for 11 May, Q3 5 Feb for 3 Feb, Q2 10 Nov for 6 Nov. Complete every period, days late.
確認メモ（原文・英語）The English 'Consolidated Financial Results for the Three Months Ended June 30, 2026 [Japanese GAAP]' (dated 4 Aug 2026) is 15 pages to the Japanese 2027年3月期 第1四半期決算短信's 13, section for section: summary pages (results, dividends, forecast with share-split notes, notes on shares), 1. Overview of Operating Results (results with a narrative per segment and a segment table of orders/sales/OP, financial position, forecast explanation), 2. quarterly balance sheet, income and comprehensive income statements, and notes (going concern, shareholders' equity, tax accounting method, segment information with reconciliation, cash-flow note, revenue recognition, significant subsequent events) - the Japanese table of contents carries the same notes. The FY3/2026 English tanshin is 26 pages to the Japanese 23 with outlook, dividend policy, all four statements and notes. The whole tanshin.
確認メモ（原文・英語）The latest-period English tanshin (Q1 to 30 June 2026) carries the quarterly balance sheet, income statement and comprehensive income statement (the Japanese quarterly also has no cash-flow statement, only a depreciation note), plus the notes: going concern, shareholders' equity, tax-expense method, segment information for both periods with the reconciliation to operating profit, cash-flow note, revenue disaggregation and the subsequent event (5-for-1 split). The FY3/2026 English tanshin adds the full year's four statements and notes, and the audited English Financial Statements 2024 (54 pp) has the full notes. Full statements and notes for the latest period.
確認メモ（原文・英語）The English Financial Results tab carries 'Financial Statements' annually; the latest, Financial Statements 2024 (54 pages, November 2025), covers the years ended 31 March 2025 and 2024: consolidated statements, notes and KPMG AZSA's Independent Auditor's Report with key audit matters. None of the yuho's narrative parts (business overview, risks, MD&A, governance), and the Japanese 有価証券報告書 for the year to March 2026 (June 2026) has no English counterpart yet. Financial statements only.
確認メモ（原文・英語）Three reportable segments - Energy Management, Factory Automation, Material Processing - plus Other. Every English tanshin gives net sales (external and inter-segment) and segment profit per segment with a reconciliation to operating profit (Q1 FY3/2027: EM 24,500/2,200, FA 8,231/402, MP 22,734/2,676 million yen), and the operating review adds orders per segment. The FY3/2026 English tanshin's segment note defines the segments ('based on three technology domains', business-division basis) and lists each segment's main products; the segments are unchanged across the periods read (Q1 FY2025 to Q1 FY2026). The decks add sub-business splits (EMS-related/domestic energy; FA vs clean robots; RF generators vs welding). Sales and profit every period with definitions stated.
確認メモ（原文・英語）The English IR page (all three accordions expanded and link-listed) holds only PDFs: tanshin by fiscal year, audited Financial Statements 2017-2024, the AGM notice and results decks/supplementary information; no .xls, .xlsx or .csv anywhere, and the English sitemap has no data page. Multi-year figures exist only as tables in PDFs (11-Year Data in DAIHEN REPORT 2025; FY2013-FY2026 sales/OP chart in the FY deck). The Japanese side has a 財務業績ハイライト page, with no English counterpart. No downloadable data file.
確認メモ（原文・英語）The FY3/2026 English tanshin (11 May 2026) gives the FY3/2027 forecast (net sales 280.0bn, OP 25.0bn, ordinary 25.5bn, net 16.5bn; first half also given) with a market view in '(4) Future Outlook' (Middle East raw-material risk, generative-AI/data-centre semiconductor investment, storage-battery demand, automation needs) and 'an average exchange rate of 157 yen per US dollar'. The English FY deck (5 June) adds segment forecasts (EM 134.0/15.0, FA 41.0/3.5, MP 105.0/12.0bn) with drivers and an OP bridge (+6.8 sales, +4.0 cost reduction, -3.6 advanced expenses, -2.0 raw materials, +1.1 Europe). The one revision in the year (6 Nov 2025) had a same-day English notice on TDnet ('Notice Concerning Difference between 1st-Half Earnings Forecast and Actual Results, and Revision to Full-Year Earnings...') and the English H1 deck p12 explains it (stronger-than-expected first half). Q1 FY3/2027 tanshin states no revision. Forecast, FX, market view, segment forecasts and explained revisions.
確認メモ（原文・英語）The latest Japanese filing is the Q1 tanshin for the three months to 30 June 2026 (4 August 2026); English results for the same quarter are on the English IR page (file of 6 August). Same period.
確認メモ（原文・英語）The current plan is the 2026年度中期計画 (FY2024-FY2026, with FY2030 targets), a 4-page Japanese document dated 9 May 2024 linked as 中期計画 from the Japanese IR top; it has no English version. Its targets are all carried in English in the results decks: the FY3/2026 English deck (38 pp, PDF created 11 June 2026 for the 5 June Japanese briefing) p18 lists the FY2026/FY2030 financial targets (net sales 250.0bn+/300.0bn+, OPM 10%+/12%+, ROE 12%+, development-funds ratio 6%+, payout 30%+) and non-financial CO2 targets, p19 net-sales targets by development theme to FY2030, p29 Europe/US sales targets, p36 three-year cash allocation. The quantified plan is whole in English, but only in decks that trail the Japanese by about a week, and the plan document itself is untranslated. Complete, published late.
確認メモ（原文・英語）An English deck for every quarter, page for page with the Japanese main deck: Q1 FY2026 supplementary information 17/17, FY2025 Financial Results Briefing 38/38 (Japanese 決算説明会 5 June), Q3 22/22, Q2 39/39. Each trails by about one to two weeks (Q1 19 Aug for 4 Aug, FY 11 June for 5 June, Q3 17 Feb for 3 Feb). The Japanese side also publishes a results-day 決算補足資料 at the half and full year, an overseas institutional investor deck (22 May 2026) and individual-investor briefings, none in English; no Q&A on either side. Every period, late and without the supplements.
確認メモ（原文・英語）The English IR site has no 'why invest' or highlights page (the IR page is document accordions only; the corporate pages are product/company outline). The English DAIHEN REPORT 2025 (23 spreads, Dec 2025) has an at-a-glance spread with segment sales mix (EM 53.3%, MP 32.1%, FA 14.5% of 226.3bn) and quantified positions - pole-mounted transformers 61% No.1 in Japan, arc welding machines 59% No.1 in Japan, arc welding robots 20% No.1 worldwide, RF generators for semiconductor equipment 19% No.3 worldwide - plus a 'Strengths of the DAIHEN Group' value-creation page with capitals (R&D 7.0bn, 2,239 patents, 29 production bases). Re-checked 21 Oct 2026 under the rule as written: a section in an investor document counts the same as a page. A dedicated section with quantified strengths, so 5.
確認メモ（原文・英語）The English FY3/2026 deck names the drivers and puts numbers on them: net-sales targets by development theme (grid storage batteries etc. 20.8bn FY2025 -> 35.0bn FY2026 -> 55.0bn FY2030; collaborative/high-mix robots 6.6 -> 15.0 -> 25.0; semiconductor power supplies/space-saving robots 13.0 -> 25.0 -> 45.0; total 125.0bn by FY2030, with variances to the initial plan); market sizes (emergency-generator replacement 80bn yen/yr; advanced packaging growing 11% a year to about 10 trillion yen by 2029, SEMI front-end outlook); capacity (large transformers 1.2x FY2026, 1.5x FY2027, 2.0x FY2029; RF generator plant 2.0x then 1.4x); Europe/US sales targets (FY2026 20.0bn and 8.0bn); and the OP bridge by driver. Named drivers with numbers attached.
確認メモ（原文・英語）Neither language publishes a transcript or Q&A. The Japanese IR説明会資料等 page (rendered) lists decks, 決算補足資料, individual-investor and overseas-investor briefings and business-strategy sessions back to 2013, with no 質疑応答 or transcript; the English 'Financial Results Briefing materials and others' accordion has decks and supplementary information only. Not found on either side.
確認メモ（原文・英語）DAIHEN REPORT 2025 in English, 23 pages like the Japanese edition, 'covers fiscal 2024 (April 1, 2024 to March 31, 2025)', file of 15 December 2025, on the English Sustainability page. The Japanese side is on the same edition. Complete report covering the year to March 2025 - one edition behind by the cohort convention.
確認メモ（原文・英語）The previous plan (2023年度中期計画) is reconciled - targets against FY2023 actuals with variances (sales 1,885 vs 2,000+, OP 151 vs 200+, OPM 8.0% vs 10%+, ROE 13.3% vs 12%+, development spend) and an explanation - only in the Japanese 2026年度中期計画 document (9 May 2024); the English FY2023 deck is no longer on the English site (English decks start with FY2024, June 2025) and the plan document has no English. In English there is progress against the current plan with figures: the FY3/2026 deck p35 sets the FY2026 plan against FY2023-FY2025 results and the FY2026 forecast (sales 250.0bn+ vs 280.0bn forecast, OPM 10% vs 8.9%, ROE 12% vs 10.3%), and p19 shows theme sales against the initial plan. Current-plan progress with numbers; the previous-plan reconciliation is Japanese only.
確認メモ（原文・英語）No Corporate Governance Report in English; the Japanese IR library links ガバナンス報告書 only. The English Company > Corporate Governance page is a few paragraphs on the board ('three independent external directors out of nine ... as of 28th, June, 2022'), auditors and the nomination and compensation committee. A site narrative in place of the filing, and a stale one.
確認メモ（原文・英語）The English NOTICE OF THE 162ND ANNUAL GENERAL MEETING (16 pp, June 2026) profiles all nine directors - the whole board, all standing for re-election (Tajiri, Minomo, Kamo, Kimura, Kaneko, Kuriyama, Magoshi, Fujiwara, Kawasaki) - each with a dated career history giving board tenure (e.g. 'June 2005 Senior Vice President and Member of the Board'), responsibilities, shares held and reasons for nomination stating expertise. The three outside directors are marked [Outside][Independent], designated independent under TSE/FSE rules, with attendance (e.g. 7/7) and term at the meeting's close (5, 5 and 1 years). Every director, with tenure, expertise and independence.
確認メモ（原文・英語）The English 162nd AGM notice (p.16, 'Reference: Corporate officers') maps the officers as they will stand after the June 2026 meeting - all nine directors and the auditors - against seven skill areas: management/business strategy, compliance/risk management, finance/accounting, HR management, technology/R&D, sales/marketing, international experience/diversity. Current matrix in English.
確認メモ（原文・英語）DAIHEN REPORT 2025 (English) 'Director Compensation' gives the structure for full-time directors (fixed 75%, performance-based 20%, stock 5%; outside directors and auditors fixed only), the KPI (consolidated operating-profit-to-sales ratio, with OP compared to the prior year; FY2024 OPM 7.1%, OP +6.8%), the shareholder-approved caps, restricted stock delivered (2,200 shares to 6 directors), and amounts by type: directors 402m yen (fixed 303, performance 80, non-monetary 18; 10 people, outside 28m for 3), auditors 68m. That content would be a 5, but it is for fiscal 2024: the FY2025 figures are in the Japanese 有価証券報告書 (June 2026) with no English, and the AGM notice carries no compensation section. Whole, one year behind. Re-checked 21 Oct 2026 under v1.1.1, which needs the weight of each performance measure in every performance-linked element: the bonus takes the operating margin as its basic indicator and then the operating profit level against the prior year, with no weights. So 4.
確認メモ（原文・英語）NOTICE OF THE 162ND ANNUAL GENERAL MEETING OF SHAREHOLDERS in English, 16 pages with Reference Documents for all four proposals (surplus, nine directors, auditor, substitute auditor), every candidate with reasons for selection; voting in writing or via the Internet with no Japanese-only label. But the file was created 12 June 2026 for a meeting on 24 June - 12 days - while the notice is dated 2 June and the Japanese electronic provision began 28 May. On the evidence the English arrived under two weeks before the meeting; recorded at the floor.
確認メモ（原文・英語）The English IR page's General Meeting of Shareholders tab holds the 162nd notice only, and the English news release page stops in 2016. The Japanese 株主総会 page has the 第162期定時株主総会決議ご通知 with no English version. No notice of resolutions or voting results in English.
確認メモ（原文・英語）No English Corporate Governance Report, yuho or governance page discloses a cross-shareholding policy, holdings count or amount. The only English treatment is in the decks and report: the FY3/2026 deck p36 shows 'Sale of strategic shareholdings 5.6 billion yen' over FY2024-25 and says proceeds from reducing strategic shareholdings go to returns and growth investment; DAIHEN REPORT 2025 notes a 1.4bn inflow from sales in fiscal 2024. No holdings figures, no target, no board rationale. A mention with sale proceeds only.
確認メモ（原文・英語）The English homepage (www.daihen.co.jp/en/, rendered) has 'Investor Relations' in its global navigation as a direct link to /en/ir/. One click.
確認メモ（原文・英語）Sampled 19 English links across types and years: tanshin 20260804, 20260511, 20260203, 20251106, 20250805, 20250204, 20240509, 20231102, 20220802, 20210805; Financial Statements 2024, 2021, 2020, 2017 (image-only, English confirmed by screenshot); NOTICE OF THE 162ND AGM; decks FY2025, 3Q FY2025, 2Q FY2025, FY2024; Supplementary Information 20260804 and 20250805; DAIHEN REPORT 2025. Every one is an English document. All English.
確認メモ（原文・英語）Rendered the English homepage, IR page, sitemap and corporate governance page in Chromium. The IR page's accordions open on click (Financial Results expands to fiscal-year folders 2017-2026, screenshotted) and all document links are present in the DOM; no empty lists or failed widgets. The English site has no stock chart or iframe to fail. Every IR page renders.
確認メモ（原文・英語）All English IR documents are on one page, /en/ir/, typed by accordion (Financial Results; General Meeting of Shareholders; Financial Results Briefing materials and others) and dated by period in each title (e.g. 'for the Three Months Ended June 30, 2026'), with no posting dates. It does not cover every English document type: DAIHEN REPORT is on the Sustainability page, and the English timely disclosures exist only on TDnet. One typed, period-dated page missing types.
確認メモ（原文・英語）Depth varies by type: tanshin for every quarter from Q1 FY3/2022 (Aug 2021) to Q1 FY3/2027 and audited Financial Statements 2017-2024 - several years - but decks and supplementary information only from the FY2024 briefing (June 2025), and the AGM accordion holds the 162nd (2026) notice only. At least a year across types, several years only for the financial results.
確認メモ（原文・英語）The English IR page has no contact. The site-wide Contact Us page's 'Other inquiries' form has a Category 'IR information' alongside CSR, procurement, career and others - a genuine IR route, but shared and reached only through the global contact page. The tanshin names Shigeo Ozawa, Vice President, General Manager, Finance & Accounting Department, Planning Division, +81-6-6390-5506.
確認メモ（原文・英語）TDnet (via kabutan): each Japanese tanshin is matched the same minute by an English '[Summary]' (cover pages), with the full English '[Updated]' tanshin days later - Q1 FY3/2027 4 Aug / 7 Aug 2026, FY3/2026 11 May / 14 May, Q3 3 Feb / 6 Feb, H1 6 Nov / 11 Nov 2025. Decks are later still (PDF creation dates; no listing dates on the English page): FY deck 11 June for the 5 June briefing, Q1 supplementary 19 Aug for 4 Aug, Q3 17 Feb for 3 Feb, H1 17 Dec for the 5 Dec briefing. A same-day summary with the full English later counts as late. Days to weeks late.
確認メモ（原文・英語）English against Japanese (TDnet times): Q1 FY3/2027 tanshin 4 Aug -> full English 7 Aug = 3 days; FY3/2026 tanshin 11 May -> 14 May = 3; 162nd AGM notice 28 May -> 13 June = 16; Corporate Governance Report 24 June 2026, no English = >90; 有価証券報告書 for FY3/2026 (June 2026), no English (the English Financial Statements carry statements only and the latest covers FY3/2025) = >90. Sorted 3, 3, 16, >90, >90: median 16 days.
確認メモ（原文・英語）TDnet list 15 Oct 2025 - 15 Oct 2026 (kabutan): every Japanese timely disclosure has a same-minute English version - forecast and dividend revision (6 Nov 2025), secondary offering and pricing (17 and 26 Nov), buyback/cancellation decision and ToSTNeT-3 purchase and result (3-4 Feb 2026), cancellation completion (13 Feb), buyback status (4 and 6 Mar), subsidiary dissolution (27 Mar), dividend increase (11 May), restricted-stock disposal and investment-unit policy (24 June), share split and dividend-forecast revision (4 Aug). But none is on the English website (its news page stops in 2016; the IR page has no news list). All same day, on TDnet only.
確認メモ（原文・英語）Rendered the English homepage, IR page, sitemap, governance page and privacy policy; no machine- or AI-translation notice or pop-up (only the cookie banner). The documents carry human-translation precedence language only (tanshin 'This is a translation of the original in Japanese... the former shall prevail'; decks and AGM notice 'the Japanese original shall prevail'), which is R5's. Nothing presented as machine-translated.
確認メモ（原文・英語）The tanshin ('the former shall prevail'), every results deck and the AGM notice ('the original shall prevail') carry the disclaimer. DAIHEN REPORT 2025 and the audited Financial Statements carry none. Disclaimed on some documents.
Semiconductor-fab systems, R&D and stakeholder-return plan
DAIHEN set FY2026 growth, margin, ROE, development-spending and payout objectives and reports quarterly progress.
時系列と出典（1件・内容は原文）
2025-12-01Plan or update announced DAIHEN set FY2026 growth, margin, ROE, development-spending and payout objectives and reports quarterly progress.出典資料1
経営陣が表明したこと
Management targets at least ¥250bn sales, a 10% operating margin and 12% ROE by FY2026.
Investor question: Which semiconductor power and transfer products create the margin step-up? IR preparation: bridge R&D, orders, mix, margin and ROIC.
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5／5Sales, margin, ROE, development and payout targets are quantified.
実行の経過を追えるか4／5Management reports progress and forecasts, but the target-to-actual capital and return bridge is incomplete.
経済性を説明しているか4／5The plan ties R&D and product mix to ROE, while project returns and balance-sheet guardrails are less detailed.
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 due.
DAIHEN targets development spending of at least 6% of sales and growth in semiconductor-fab power and transfer systems while maintaining a payout ratio of at least 30%.
資本構成
The selected disclosures balance stakeholder returns and proactive investment but provide less specific leverage and liquidity guardrails.
資本政策の意思決定
Management publishes sales, margin, ROE, R&D and payout targets and tracks progress, but does not disclose project-level ROIC thresholds.