Everything we have had to fix, when we fixed it, and what it was. The denominator is here too, because a correction count without one is just a number.
13Corrections issued
72Fragments published
1182Sources linked
The policy
Within 72 hours of being satisfied that something is wrong. At the top of the piece, not the bottom. With the history left public — the original wording stays visible alongside the fix, because a correction that hides what it corrected is not a correction.
This applies to figures, dates, attributions, and anything else that can be checked. It does not apply to opinions, which we would rather defend than quietly delete.
The log
- 10 August 2026 · Every fragment that converts yen — the source added earlier the same day. The correction above added a dated source for the ¥163.8 rate, so the number could be checked rather than taken on our word. The line naming who publishes that number said “European Central Bank”. It is not. The service the URL points at returns a series blended across several central banks by default, and it does not publish which one any given figure came from. We also tried to make the URL ask for the ECB alone; the parameter that is supposed to do that is ignored, and returns the same figure for a bank name that does not exist. So an ECB-only citation cannot be built here, and one that looked like it would be worse than the error it replaced. The rate is unchanged and no figure moves. What changed is the attribution: the source now says what it is, a dated series blended across central-bank sources. Forty published fragments carried the wrong line for about eleven hours. It was found by the verification layer we run against our own pieces, on the piece that introduced it.
- 10 August 2026 · Every fragment that converts yen. The currency note at the foot of each piece said the yen figures were converted at ¥163.8 = US$1, “the rate on 24 July 2026”, and the source listed for it was a live quote page. That page carries whatever the rate is today; it does not keep the value for a past date. A reader who followed the link could not check the number every dollar figure in this publication rests on — which is the one thing this publication says it is for. The rate itself is right: the daily reference rate for 24 July 2026 is 163.82, which we round to 163.8. No dollar figure anywhere has changed. Two things have. The wording now says the rate was retrieved on that date rather than that the source publishes it for that date. And the sources now include a reference-rate URL that returns 163.82 for 24 July 2026 and will keep returning it, so the number can be checked rather than taken on our word. Thirty-eight published fragments carried the old wording; the nine not yet published were corrected before publication. The error was found by the verification layer we run against our own pieces.
- 3 August 2026 · A Line That Moves Without a Level. Fragment 29 has been corrected. The 57th annual securities report's production, orders and sales section carries two notes, not one: the note on valuation basis, and a second note under the sales table naming the single customer above the ten per cent line — the note that is in fact the only place in the 108-page filing where the 10.4 per cent figure used later in the piece is printed. Two sentences that described the section as carrying a single note have been rewritten, and the argument they supported now rests on what the notes contain rather than on how many there are. The three amounts are also set out in three separate one-line tables, each under its own heading, not on one line together; the opening sentence and the closing sentence have been changed accordingly. Three prior-year percentages were presented as though the printed figures differed from the arithmetic; they are correct roundings, and the sentence now shows them as such, with the prior year's production and sales figures added. The ¥79,713 million shown in the related-party series was calculated by us from the ten per cent threshold rather than published, and has been replaced by the filing's own wording for that year. The comparison of the facilities table with the regional property table now names the basis of each — company-by-company book values, with FANUC Europe Corporation's consolidation scope taking in 24 subsidiaries, against a three-region split of the group total — in place of a sentence noting that the report did not explain the difference. The two treasury-stock figures are now given as the note itself gives them. Dollar conversions that carried more significant figures than the yen amounts they converted have been brought back into line, and the conversion rule in the closing note restated to match. The self-check and change record have been updated where they described text that no longer stands.
- 3 August 2026 · One Segment, Eight Digits. An earlier version of this piece described Keyence's properties table as listing "four buildings and no plant"; the table's facility-content column describes two of the four — the head office and laboratories, and the Takatsuki site — as manufacturing and research and development, and the sentence has been rewritten to say only that none of the four sites is headed as a plant. The same paragraph left the plans-for-new-construction item as "none stated" without noting that the year's ¥28,371 million (US$173.2 million) of capital spending appears one item earlier in the same section, attributed mainly to the next logistics centre, and that slide 17 of the April results deck dates that building. We wrote that the prior year's cost of sales and SG&A totals were not in these documents and that the 0.9-point margin move therefore could not be split; the consolidated income statement prints both years side by side, and the split is now given (gross margin 83.81% to 83.02%, SG&A 31.91% to 32.07%). For the same reason, the prior year's non-operating expenses of ¥5,085 million are a printed line and are no longer described as implied, and the increases in operating and ordinary profit, which we had described as figures no statement prints, are printed in the report's own analysis section as ¥45,983 million and ¥74,745 million, one million yen below the differences we struck from the rounded lines; both are now shown. Consolidated ordinary profit at 54.4% of sales was attributed to the report but was our own arithmetic, and is now given as 54.37% with its inputs. Our account of the transitional provision omitted its proviso, which allows a report for a year ending before 31 March 2026 to apply the new Form 3 if it is filed on or after 20 February 2026; the eleven days remove the obligation, not the option. We have also restored the deck's third exchange sensitivity (the yuan), replaced a reference to a "Greater China heading" that neither document uses with the position of China in each, returned the directors' remuneration paragraph to the document's order and its dash to a dash, restored the printed name of the SG&A line, corrected the description of whose pay forms the remuneration base, and replaced the remark that the geographic note "offers no reconciliation" with the size of the two gaps and the identical pair in the prior year's table on the same page. A missing dollar conversion has been supplied at ¥779,221 million.
- 3 August 2026 · Trend Micro Keeps Two Calendars. An earlier version of this piece said in several places that Trend Micro's filings did not establish things they do establish, and misread one chart. The CFO presentation defines Pre-GAAP on the face of its charts as the sales amount before deferred revenue and the returns allowance, and attributes the series' volatility to the closing timing of large, usually multi-year, contracts; we had written that neither the definition nor the cause was given. The annual securities report identifies 繰延収益 as the contract liability, relates it to 前受収益, states its scope, shows that no part of it sits in non-current liabilities, breaks down the difference between cash and deposits and cash and cash equivalents to the yen, and gives the components of the equity ratio's numerator; we had written that each of these was absent. On the fourth-quarter bridge slide we assigned three of the four regional figures to the wrong regions and treated the Americas figure as an increase when it is the slide's only decrease, and then reported a ¥2,762 million total that appears in no document; the slide reads APAC, Middle East and Africa +¥1,034m, Japan +¥403m, Europe +¥356m, the Americas −¥969m, plus ¥2,426m of exchange impact. We have also removed two ratios of our own construction — cash as 97.6% of deferred revenue, and purchases of intangible assets as 3.26 times research and development expense — added the company's own English conversion rate of ¥149.83 = US$1 to our currency note, and rewritten the closing passage on the English investor relations page, which carries an English annual report, an English figure table and a link to SEC filings that we had not accounted for.
- 3 August 2026 · One Row for 880,000 Items. Three statements were scoped to the annual securities report but read as statements about the disclosure as a whole. The report does not split the change into volume, price and currency, attaches no amounts to the three stated reasons for the flat operating line, and gives a planned figure only for depreciation. The earnings presentation of the same day, which this piece also cites, does all three: page 20 carries the volume, price and currency split, and page 27 carries a planned figure for personnel, both in hundreds of millions of yen. The piece also described that presentation as being without yen amounts; it is denominated in hundreds of millions of yen. Each statement now names what it is about. The point about the report’s granularity stands.
- 3 August 2026 · Eighty-Two Percent Foreign, Fifty Percent Held. The company’s English investor relations page was described as a list of document types and counted as four document types, an events area, a governance area and a news item. It is the full English IR index: eight areas, of which four names are document types, and among its content pages are Risk Factors and Shareholder Information — both bearing on questions this piece described as not determinable from it. The description and the count now match the page. That the annual securities report does not appear by name is unchanged.
- 28 July 2026 — Privacy. The page stated that a cookieless in-page counter had been switched on. It had been announced here and then never installed, so for two days this page described a thing that did not exist — on a site whose whole claim is that it checks what it prints, including about itself. The paragraph now describes what actually happens: server-side request counting at the delivery network, no script, no cookies.
- 28 July 2026 — Fewer Machines, More Money. Ordinary profit for the first half was described as down 7.3 percent. The release prints 7.2 percent. We had computed the change from the rounded profit levels on the same page instead of reading the change the company itself printed, which is the sort of error that produces a number no source contains. The corrected figure is in the text.
- 28 July 2026 — Pilot's Largest Customer Is Pilot. Two items have been removed. A revenue figure of ¥3,550 million for industrial materials and other could not be reconciled against the segment note when the piece was re-reported, and a sentence stating that the thermochromic ink behind the erasable pens also colours a line of dolls had no source we could point at. The segment ratios that did reconcile remain.
- 28 July 2026 — The Stove Gets a Line. A revenue mix attributed to the integrated report — LPG at 62 percent and cassette stoves and gas at 8 percent of the energy segment — has been removed. We could not locate those percentages in the document when we went back to it. The stove analysis now runs on the plan's own unit targets, which we can cite.
- 28 July 2026 — The Year Star Micronics Shipped More Machines and Booked Less. A sentence reporting that a full-text search of a filing returned zero instances of two Japanese terms has been removed. The point it supported — that the company nowhere claims its two businesses offset each other — stands on what the filing does say. A claim about the exhaustiveness of our own search is not something a reader can check, and we should not have printed it as evidence.
- 28 July 2026 — Nifco, Per Car. A clause stating that the company's own chart rounded a segment's share of sales to 11 percent has been removed. The computed figure it accompanied, 10.5 percent from two disclosed amounts, stands. We could not re-substantiate the rounding claim when the piece was re-reported, and a claim we cannot point at is a claim we should not have printed. Nothing else in the sentence changed.
Before publication
Corrections are what survive the process. Rather more is caught inside it: every draft is read back against its source sheet by a separate process instructed only to disagree, and the first fragment published here came back with fourteen findings, all of which were applied before anyone could read it. Those are not corrections — nothing was published — but they are the reason this page is short.
One thing did get through and has since been removed: a sentence in The Great Unbunkering attributed a claim to unnamed "securities firms and investors" with no source. It was not a factual error so much as a sentence that should never have cleared our own rule against publishing what we cannot trace. It is gone.
If you have found something wrong, we would like to know before your readers do:
[email protected]. Telling us we are wrong is a contribution, not a complaint.