Japan Stock Files

The paperwork of the world's politest market, read with appropriate suspicion.

Japanese company filings, read in the original and written in English Published by ZUZU Inc., Tokyo About →

Issue 118 — filed 23 October 2026

Seiko Epson 6724

Seiko Epson's Segment Note: Three Segments, Six Lines, Four Names

Note ６．セグメント情報 on pages 137 to 140 of Seiko Epson Corporation's annual securities report for the 84th term, filed June 24, 2026, prints three reporting segments: プリンティングソリューションズ事業 with external revenue of 1,029,483百万円 (US$6,285.0

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¥366.7 trillion — about $2.24 trillion — sits in the bank accounts of Japanese companies that have no particular plans for it — an all-time high, as of March 2026. The last time the Tokyo Stock Exchange counted in public, 922 companies on its top tier — half of them — were trading below the value of the assets on their own balance sheets. Both facts are disclosed in full, on time, to the letter of the law — in Japanese, in a filing system most of the world's money has never opened.

This letter opens it.

We read the annual reports, the earnings releases, the large-holding disclosures and the trade press, and we write down in English what they actually say. The interesting part is rarely the number. It is the sentence on page 47 that the company was obliged to include and hoped you would not translate.

No ratings. No target prices. No recommendations — not as modesty, but as policy. If you cannot tell what the desk thinks by the end of a note, read it again.

ANNUAL PHYSICAL patient: the issuer · age 120 正常 Cash, fasting · ref 0 – 61% of mkt cap 61% Borrowings · ref 0.00 – 0.00 0.00 Pulse, at AGM · ref 10 – 12 bpm 11 FINDINGS no expenditure since 1997. constitutional. recheck in 12 mo.
Fig. — Every value falls inside the reference range. The reference range was fitted to the patient.
Daily

One fragment, 08:00 Tokyo

Each morning one piece is read out of a primary filing — an annual securities report, a large-shareholding report, a monthly buyback return — checked against the document before it is published, and corrected in public when it is wrong.

Series

The People Pages

Whose pay is it, and what was promised? The employee table and the indicators-and-targets pages of the annual report, read company by company.

Dataset

Buyback returns

What 318 Japanese companies actually bought back in July 2026, against what their boards authorised. Reconciliation-checked, free to download, CC BY 4.0.

Filed

Every fragment, by company and by subject

The full run, newest first, filterable by the company under discussion and by subject.

Following the desk Form 1

No mailing list is kept and no address is collected. One fragment is filed each morning at 08:00 Tokyo; the feed carries each one as it is filed.

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Unsigned
The desk publishes without bylines. Not to hide — the publisher is a company registered in Japan, and the registry is public — but because a byline invites you to weigh the writer instead of the filing. Weigh the filing.
No positions
The desk does not trade Japanese single stocks. Any of them. Ever.
Sources
Primary disclosures only. No aggregators, no data resellers, no second-hand summaries.
Sponsors
Never a covered company, its affiliates, or an affiliate of the publisher's parent. Coverage excludes the parent's industry and its counterparties.
Corrections
Within 72 hours, at the top of the piece, with the history left public.

Japan Stock Files is an independent publication, freely accessible to an unspecified readership. It provides factual information and general analysis. It does not provide individualised investment advice, ratings, target prices, or solicitation to buy or sell any security.

Source: EDINET, operated by the Financial Services Agency of Japan, used under the Public Data License 1.0. This site is edited and processed by ZUZU Inc. from that source; it is not an unprocessed government publication, and the FSA does not warrant the accuracy, completeness or currency of what we publish.
本サービスは金融庁EDINET APIの公開情報をもとに株式会社ZUZUが作成していますが、提供情報の最新性、正確性、完全性等が保証されたものではありません。Public Data License 1.0.

Japan Stock Files is a journalistic publication. Nothing on this site is an invitation or inducement to engage in investment activity. We are not authorised or regulated by the UK Financial Conduct Authority, the US Securities and Exchange Commission, or any other financial regulator, and we do not provide investment advice in any jurisdiction.

Everything here is made by machines. The one that writes the numbers is not allowed to improvise. The one that draws the pictures is. Every figure is checked back against the filing it came from before a person decides it is fit to publish — how that works.