SMC's Facilities: A New Line in Kashiwa

第３ 設備の状況, the facilities section of SMC CORPORATION's annual securities report for its 67th fiscal year, April 2025 to March 2026, filed on EDINET on June 26, 2026, occupies pages 37 and 38 of 124. It has three numbered parts. １ 設備投資等の概要, the outline of capital investment, is one paragraph that ends with the year's total, 150,254百万円(前期比39.4％増), 150,254 million yen (US$917.3 million), up 39.4 percent on the prior year as the report states. ２ 主要な設備の状況, principal facilities, is two tables: eleven lines for the filing company and nine for overseas subsidiaries, each with book value by class of asset, land area and headcount. ３ 設備の新設、除却等の計画, plans for new facilities and disposals, is a table of eight planned investments for the year after March 31, 2026, headed by the parent's line at 41,300 million yen (US$252.1 million). This piece reads the three parts, sets them beside the same section of the 66th report, filed June 27, 2025, on pages 34 and 35 of 108, and follows the figures to the other pages of the report where they reappear.

The outline paragraph is the same two sentences in both reports, with only the number and the rate changed. 当社グループは、中長期的な需要の増加に備えた生産能力の確保と、いかなる事態が発生してもお客様への製品供給責任を果たすことができる体制の確立を目指して、生産、物流、研究開発拠点の整備を着実に進めています — the group is steadily building production, logistics and research and development sites, to secure capacity for medium- to long-term demand growth and to establish a system that can meet its responsibility to supply customers whatever happens. このほか、合理化・コストダウン・環境負荷の低減のための新規設備の導入や金型の更新等を実施し — in addition it introduced new equipment and renewed dies for rationalisation, cost reduction and lower environmental load — and the total for the year was 150,254百万円(前期比39.4％増). The 66th report closed the same sentence with 107,803百万円(前期比2.2％増), 107,803 million yen (US$658.1 million), up 2.2 percent. Both rates are the report's. The consolidated cash-flow statement on page 79 of the 67th report prints 有形固定資産の取得による支出, payments for purchases of property, plant and equipment, at 106,739 and 152,701 million yen for the two years (US$651.6 million and US$932.2 million), and the management analysis on page 33 describes the second as 同45,961百万円の支出増, an increase of 45,961 million yen (US$280.6 million) in the payment. 減価償却費, depreciation, on the same cash-flow statement is 34,308 and 44,846 million yen (US$209.5 million and US$273.8 million). The facilities section's 150,254 million yen (US$917.3 million) and the cash-flow statement's 152,701 million yen (US$932.2 million) are two different measures printed on two different pages, and this piece does not reconcile them.

Table (1), 提出会社, the filing company, is dated 2026年３月31日現在. Its columns are 事業所名(所在地), name and location of the site; セグメントの名称, segment; 設備の内容, what the facility is; then 帳簿価額(百万円), book value in millions of yen, split into 建物及び構築物, buildings and structures, 機械装置及び運搬具, machinery, equipment and vehicles, 土地(面積千㎡), land with its area in thousands of square metres in parentheses, 借地権, leasehold rights, その他, other, and 合計, total; and last 従業員数(人), employees. The notes beneath the second table define the terms. Note 1: その他 is the sum of 工具、器具及び備品, tools, furniture and fixtures, and 建設仮勘定, construction in progress. Note 2: 現在休止中の主要な設備はありません, no principal facility is currently idle. Note 3: the bracketed figure under a headcount is 臨時従業員数, temporary employees, shown outside the count. Note 4: bracketed land areas are leased. Note 5: the parent's 東日本ロジスティクスセンター is a facility leased from a company outside the consolidated group. The segment column reads 自動制御機器事業, automatic control equipment, on the first line and 同上, ditto, on every line after it, which follows from page 71 and page 97: 当社グループは自動制御機器事業の単一セグメント, the group is a single segment. Between the two tables sits (2) 国内子会社, domestic subsidiaries: 該当事項はありません, not applicable.

The line that carries the year is the ninth. Japan Technical Center (千葉県柏市), Kashiwa, Chiba, described as 研究開発設備, research and development facilities: buildings and structures 92,524 million yen (US$564.9 million), machinery 1,852 million yen (US$11.3 million), land 12,561 million yen (US$76.7 million) on 43 thousand square metres, other 4,236 million yen (US$25.9 million), total 111,175 million yen (US$678.7 million), 1,425 employees with 11 temporary. It is the largest 合計 on either table. In the 66th report the research line was a different name in a different prefecture: 筑波技術センター (茨城県つくばみらい市), Tsukuba Technical Center in Tsukubamirai, Ibaraki, research and development facilities, buildings 2,217 million yen (US$13.5 million), machinery 241 million yen (US$1.5 million), land 1,540 million yen (US$9.4 million) on 35 thousand square metres, other 604 million yen (US$3.7 million), total 4,603 million yen (US$28.1 million), 1,381 employees with 8 temporary. The company history on pages 4 and 5 of the 67th report has both dates: 1991年４月 筑波技術センター設置, and, as its last entry, 2026年３月 Japan Technical Center設置. The research and development section on page 36 opens with the move: 2026年３月に研究開発の効率向上、最先端の技術交流、新たなイノベーション創出の拠点として、千葉県柏市にJapan Technical Center(JTC)をオープンしました。JTCが研究開発活動の中核を担い — in March 2026 the company opened Japan Technical Center in Kashiwa as a base for more efficient research and development, leading-edge technical exchange and new innovation, and JTC takes the central role in research and development activities. The 66th report's corresponding sentence on page 33 had said これら研究開発活動の中核を担うのは、筑波技術センターですが, the central role is played by Tsukuba Technical Center. The two headcounts, 1,381 and 1,425, are two lines in two reports; the section says nothing about who moved where, and this piece does not either.

The parent's fixed-asset schedule, 有形固定資産等明細表 on page 110, shows the same building arriving. 当期増加額, additions during the year, for 建物及び構築物 is 136,725 million yen (US$834.7 million), and note 1 names the principal items: 遠野サプライヤーパーク 40,037百万円、Japan Technical Center 94,024百万円 (US$244.4 million and US$574.0 million). Additions to 建設仮勘定, construction in progress, are 110,839 million yen (US$676.7 million), of which the note names 遠野サプライヤーパーク建設 14,088百万円 and Japan Technical Center建設 66,022百万円 (US$86.0 million and US$403.1 million); reductions in construction in progress are 152,103 million yen (US$928.6 million), and its year-end balance is 19,942 million yen (US$121.7 million) against 61,206 million yen (US$373.7 million) at the start. The 66th report's schedule, page 95, had named 新本社 13,570百万円 (US$82.8 million) under buildings, 草加第１工場北側隣地 11,183百万円 (US$68.3 million) under land, and, under construction in progress, 遠野サプライヤーパーク建設 13,011百万円 and 新技術センター建設 890百万円 (US$79.4 million and US$5.4 million). The 67th schedule's 当期減少額 column carries three bracketed figures, (732) under buildings, (1,467) under land and (2,200) on the 計 line, that is 732, 1,467 and 2,200 million yen (US$4.5 million, US$9.0 million and US$13.4 million), which note 2 defines as 減損損失計上額, impairment loss, included in the reduction; the three are quoted as printed and not added here. Note ※７ on page 85 places them: 茨城県つくばみらい市, Tsukubamirai, Ibaraki, 売却予定資産, assets held for sale, land 1,467 and buildings 732 million yen (US$9.0 million and US$4.5 million), and アメリカ カリフォルニア州, California, assets held for sale, buildings 479 million yen (US$2.9 million), with the explanation 事業所の移転に伴い、売却予定資産となったため、帳簿価額を正味売却価額まで減額し — because the sites were relocated and became assets held for sale, book value was written down to net selling price. For the prior year the same note reads 重要性が乏しいため記載を省略しています, omitted for immateriality, and page 83 of the 67th says 減損損失 is shown as its own line this year because it exceeded one tenth of 特別損失.

The seventh line is the other one that changed shape. 遠野サプライヤーパーク (岩手県遠野市), Tono Supplier Park in Tono, Iwate, listed as 生産設備, production facilities, read in the 66th report: buildings −, machinery −, land 1,265 million yen (US$7.7 million) on 177 thousand square metres, other 26,949 million yen (US$164.5 million), total 28,215 million yen (US$172.3 million), employees −. In the 67th it reads buildings 39,017 million yen (US$238.2 million), machinery 958 million yen (US$5.8 million), land 1,273 million yen (US$7.8 million) on the same 177 thousand square metres, other 563 million yen (US$3.4 million), total 41,812 million yen (US$255.3 million), 8 employees with 1 temporary. The history dates it 2026年１月 遠野サプライヤーパーク設置. The note on investment property, 賃貸等不動産関係 on page 96, says what it is: 当社は、主要なサプライヤー約20社を誘致して、当社遠野工場との一貫生産体制を構築する新たな生産拠点「遠野サプライヤーパーク」(岩手県遠野市)を開設しました — the company opened it as a new production site that invites about 20 principal suppliers and builds an integrated production system with the company's Tono plant — and 納期短縮、BCP体制の強化及び製造DXの推進を目的とした施設であり、入居するサプライヤーからの賃料収入の獲得を営業目的としてはいません, a facility for shorter lead times, a stronger business-continuity system and manufacturing digital transformation, whose business purpose is not rental income from the suppliers that move in. The same note prints the carrying amount of the company's investment property, 連結貸借対照表計上額, at 2,752 million yen (US$16.8 million) at the start of the year, a change of 30,290 million yen (US$184.9 million) during it, 33,043 million yen (US$201.7 million) at the end, with a year-end fair value of 35,314 million yen (US$215.6 million). The human-capital pages of the 67th report, page 22, list 遠野サプライヤーパークを通じてサプライヤーと共に成長する一貫生産体制, an integrated production system that grows together with suppliers through the park, among the supply-chain measures.

The other nine parent lines are the same nine as a year earlier. 本社 (東京都中央区), the head office, 本社機能: buildings 13,408 million yen (US$81.9 million), land 30,667 million yen (US$187.2 million) on 1 thousand square metres, other 2,123 million yen (US$13.0 million), total 46,198 million yen (US$282.0 million), 342 employees with 3 temporary; a year earlier 47,080 million yen (US$287.4 million) and 504 with 4. The history dates it 2025年３月 本社を東京都中央区に移転, and the 66th schedule lists 新本社 under additions to buildings at 13,570 million yen (US$82.8 million). The six plants, with the dates the history gives them: 草加工場 (埼玉県草加市), 1968年６月, total 19,695 million yen (US$120.2 million), 1,124 employees with 679 temporary, land 11,481 million yen (US$70.1 million) on 39 thousand square metres, where the 67th schedule adds 草加第１工場北側隣地 167百万円 (US$1.0 million); 筑波工場 (茨城県常総市), 1983年１月, 14,989 million yen (US$91.5 million), 300 with 230, its その他 column 6,212 million yen (US$37.9 million) against 1,538 million yen (US$9.4 million) a year earlier; 下妻工場 (茨城県下妻市), 2013年６月, 27,747 million yen (US$169.4 million), 828 with 508, the largest 合計 among the six lines named 工場; 釜石工場 (岩手県釜石市), 1991年１月, 17,888 million yen (US$109.2 million), 661 with 941, a bracketed temporary figure larger than the headcount, as it was a year earlier at 643 with 950; 遠野工場 (岩手県遠野市), 1997年12月, 14,885 million yen (US$90.9 million), 346 with 472, the other parent line where the bracket exceeds the count; 矢祭工場 (福島県東白川郡矢祭町), 1994年８月, 11,073 million yen (US$67.6 million), 722 with 426, its land 330 thousand square metres the largest area of the parent's lines. Then two logistics lines, 物流設備: 東日本ロジスティクスセンター (茨城県常総市), the leased one of note 5, 2,184 million yen (US$13.3 million), 57 with 33; 西日本ロジスティクスセンター (滋賀県蒲生郡竜王町), 9,100 million yen (US$55.6 million), 15 with 2. The chart plots every line's 合計 for both dates.

Table (3), 在外子会社, overseas subsidiaries, has the same columns with one addition: 借地権 also carries an area, (面積千㎡). Nine lines, all 自動制御機器事業, all 生産設備 except the last two, which read 生産設備等. The largest is SMCベトナム製造 (ベトナム ドンナイ), Dong Nai, Vietnam: buildings 21,757 million yen (US$132.8 million), machinery 24,627 million yen (US$150.3 million), land −, leasehold 5,570 million yen (US$34.0 million) on 663 thousand square metres, other 25,557 million yen (US$156.0 million), total 77,513 million yen (US$473.2 million), 3,160 employees and no bracket. A year earlier the line was 21,094 million yen (US$128.8 million), 19,750 million yen (US$120.6 million), leasehold 5,555 million yen (US$33.9 million) on 663, other 17,727 million yen (US$108.2 million), total 64,127 million yen (US$391.5 million), 2,191 employees. Its headcount is the largest of any line in either table in both years. The risk section, page 30, names the country under (1) 海外での事業展開に伴うカントリーリスク: 特に中国及びベトナムにおいては、当該国内での需要への対応やグローバルな製品供給の役割を担うべく、生産拠点の充実・強化を進めています — in China and Vietnam in particular the group is expanding and strengthening production sites to serve local demand and to supply products globally — and gives as the response BCPの観点から、中国に匹敵する規模の生産拠点をベトナムに整備することや、国内にも一定の供給能力を確保することで、不測の事態が発生しても早期に復旧できる体制の整備に努めています, building a production base in Vietnam on a scale comparable to China, and keeping a certain supply capacity in Japan, so that operations can be restored quickly whatever happens. The related-companies table on page 7 lists SMC Manufacturing (Vietnam) Co., Ltd. with capital of VND 236,129億 and marks it, with the three Chinese manufacturers below, as a 特定子会社, specified subsidiary.

The three Chinese lines carry 借地権 rather than 土地. SMC中国製造 (中国 北京): buildings 2,997 million yen (US$18.3 million), machinery 4,225 million yen (US$25.8 million), leasehold 676 million yen (US$4.1 million) on 204 thousand square metres, other 4,003 million yen (US$24.4 million), total 11,903 million yen (US$72.7 million), 679 employees with 598 temporary; a year earlier total 8,560 million yen (US$52.3 million), 678 with 648. SMC北京製造 (中国 北京): 7,551 million yen (US$46.1 million), 12,491 million yen (US$76.3 million), leasehold 1,264 million yen (US$7.7 million) on 273, other 3,393 million yen (US$20.7 million), total 24,701 million yen (US$150.8 million), 1,070 with 693; a year earlier 23,708 million yen (US$144.7 million), 1,108 with 731. SMC天津製造 (中国 天津): buildings 20,014 million yen (US$122.2 million), machinery 6,183 million yen (US$37.7 million), leasehold 2,955 million yen (US$18.0 million) on 371, other 3,777 million yen (US$23.1 million), total 32,930 million yen (US$201.0 million), 382 with 361; a year earlier 26,927 million yen (US$164.4 million), 393 with 212, with buildings then at 13,781 million yen (US$84.1 million). The history dates SMC中国製造 to 1994年９月, SMC北京製造 to 2000年12月 and SMC天津製造 to 2016年４月. Page 7 also prints, under note 5, the one subsidiary whose sales exceed a tenth of the consolidated figure: SMC中国, listed as 当社製品等の販売先, a buyer of the company's products, with 売上高 225,245 million yen (US$1,375.1 million); it is a different company from the three manufacturers in the facilities table.

The remaining five overseas lines. SMCアメリカ (アメリカ インディアナ), 生産設備等: buildings 18,834 million yen (US$115.0 million), machinery 4,489 million yen (US$27.4 million), land 3,427 million yen (US$20.9 million) on 1,174 thousand square metres, the largest area in either table, other 3,176 million yen (US$19.4 million), total 29,928 million yen (US$182.7 million), 721 employees with 4 temporary; a year earlier 26,628 million yen (US$162.6 million), 771 with 7. SMCドイツ (ドイツ エーゲルスバッハ): 7,285 million yen (US$44.5 million), 142 million yen (US$0.9 million), land 4,018 million yen (US$24.5 million) on 117, other 2,114 million yen (US$12.9 million), total 13,560 million yen (US$82.8 million), 587; a year earlier 11,911 million yen (US$72.7 million), 597. SMCチェコ (チェコ ビシュコフ): 6,899 million yen (US$42.1 million), 1,704 million yen (US$10.4 million), land 551 million yen (US$3.4 million) on 129, other 628 million yen (US$3.8 million), total 9,785 million yen (US$59.7 million), 409; a year earlier 8,806 million yen (US$53.8 million), 364. SMCシンガポール製造 (シンガポール): 3,662 million yen (US$22.4 million), 1,515 million yen (US$9.2 million), other 1,273 million yen (US$7.8 million), total 7,593 million yen (US$46.4 million), 750 with 30, and a land column that reads 1,141 million yen (US$7.0 million) with [47] beneath it, where a year earlier it read − with [47]; by note 4 the bracket marks 47 thousand square metres of leased land. SMCインド (インド ノイダほか): 589 million yen (US$3.6 million), 629 million yen (US$3.8 million), land 1,947 million yen (US$11.9 million) on 241, leasehold 325 million yen (US$2.0 million) on 87, other 340 million yen (US$2.1 million), total 3,832 million yen (US$23.4 million), 767 with 58; a year earlier 4,166 million yen (US$25.4 million), 776 with 81, the one overseas line whose total is printed lower than the year before. The related-companies table gives the registered towns as ノーブルズビル, Noblesville, for SMC Corporation of America and ビシュコフ for SMC Industrial Automation CZ s.r.o., and lists SMC Corporation (India) Pvt. Ltd. at ノイダ, Noida.

The twenty lines are the parent and nine named subsidiaries; the consolidated figure sits on other pages. The consolidated balance sheet on page 73 prints 有形固定資産合計, total property, plant and equipment, at 478,717 million yen (US$2,922.6 million) at March 31, 2025 and 618,009 million yen (US$3,772.9 million) at March 31, 2026, with 建物及び構築物（純額）, buildings net, at 176,837 million yen (US$1,079.6 million) and 328,073 million yen (US$2,002.9 million), 機械装置及び運搬具（純額） at 75,144 million yen (US$458.8 million) and 91,195 million yen (US$556.7 million), 工具、器具及び備品（純額） at 23,555 million yen (US$143.8 million) and 27,598 million yen (US$168.5 million), 土地 at 105,475 million yen (US$643.9 million) and 110,110 million yen (US$672.2 million), and 建設仮勘定 at 97,703 million yen (US$596.5 million) and 61,030 million yen (US$372.6 million). The management analysis on page 32 puts the movement in one clause, 有形固定資産は139,292百万円の増加, an increase of US$850.4 million; the 66th report's page 29 had written 有形固定資産は当社新本社竣工や当社グループ製造拠点における設備投資などにより65,158百万円の増加, an increase of US$397.8 million from the completion of the new head office and investment at the group's manufacturing sites. The segment note on page 98 lists 有形固定資産 by region, each figure and the 合計 printed in millions of yen: 日本 330,322 million yen (US$2,016.6 million), 中国 73,555 million yen (US$449.1 million), アジア(中国を除く), Asia excluding China, 114,424 million yen (US$698.6 million), その他 99,708 million yen (US$608.7 million), 合計 618,009 million yen (US$3,772.9 million); a year earlier 241,720 / 60,278 / 94,752 / 81,965 / 478,717 (US$1,475.7 million / US$368.0 million / US$578.5 million / US$500.4 million / US$2,922.6 million). The desk quotes the regional lines and the printed 合計 as they stand and does not add the lines. The accounting policy on page 81 says the parent and domestic subsidiaries depreciate mainly by 定率法, the declining-balance method, and overseas subsidiaries mainly by 定額法, straight-line, with the parent's buildings acquired from April 1, 1998 and building fixtures and structures acquired from April 1, 2016 on straight-line; useful lives are 建物及び構築物 ３年〜50年, 機械装置及び運搬具 ２年〜17年, 工具、器具及び備品 ２年〜20年. A 合計 in the facilities table is therefore a net figure after those methods, and not a record of what was spent on the site.

The headcount column has a companion table. 従業員の状況 on page 71 prints the consolidated count at March 31, 2026 as 24,773 employees with 5,616 temporary in brackets, on the single segment, and the parent's as 6,560 with 3,333; the 66th report's page 7 printed 23,114 with 5,481, and 6,414 with 3,216. Note 1 to each table defines 従業員数 as 就業人員数, persons at work, with the boundary drawn differently: the consolidated table excludes those seconded from the group to outside it and includes those seconded in from outside the group, 当社及び連結子会社(以下、「当社グループ」という。)からグループ外への出向者を除き、グループ外から当社グループへの出向者を含む, while the parent's table excludes those seconded from the company to outside it and includes those seconded in, 当社から社外への出向者を除き、社外から当社への出向者を含む; both define the bracket as 臨時従業員数, temporary employees, at 年間平均雇用人員, the average number employed during the year. The five-year table on page 2 carries the consolidated series back: 21,620 / 22,988 / 23,127 / 23,114 / 24,773 for the years to March 2022 through 2026, with temporary counts of 5,630 / 6,243 / 5,371 / 5,481 / 5,616. The facilities tables print headcounts site by site under the same bracket convention; all eleven parent lines and six of the nine overseas lines carry a bracketed temporary figure, and the SMCベトナム製造, SMCチェコ and SMCドイツ lines print a headcount alone. Page 9 gives two rounder figures for the group as a whole: 約7,000名の営業スタッフ, about 7,000 sales staff across 500以上の拠点網 in 80以上の国と地域, and 世界５か国の技術センターは、約2,000名の技術スタッフ, about 2,000 technical staff at technical centres in five countries; the 66th report's page 9 had written 7,000名以上 and 2,000名以上, more than 7,000 and more than 2,000.

Part ３, 設備の新設、除却等の計画, is prefaced by one sentence: 当社グループの主要な設備投資計画に係る当連結会計年度後１年間の投資予定金額は、以下のとおりです, the planned investment amounts for the group's principal capital investment plans for the one year after the fiscal year-end are as follows. The 67th table, 2026年３月31日現在, has eight lines, each with 資金調達方法, funding, of 自己資金, own funds, or 同上: ＳＭＣ株式会社, 埼玉県草加市ほか, Soka and elsewhere, 生産設備・物流設備, 41,300 million yen (US$252.1 million); SMCベトナム製造, ベトナム ドンナイ, 生産設備・物流設備, 17,100 million yen (US$104.4 million); SMC中国, 中国 常州, Changzhou, 物流設備, 7,600 million yen (US$46.4 million); SMC北京製造, 中国 北京, 生産設備, 3,900 million yen (US$23.8 million); SMC台湾, 台湾 新竹, Hsinchu, 本社, 3,700 million yen (US$22.6 million); a line printed as SMC天津工場, 中国 天津, 生産設備, 3,600 million yen (US$22.0 million); SMC中国製造, 中国 北京, 研究開発設備・生産設備, 2,300 million yen (US$14.0 million); SMCオーストラリア, オーストラリア キャッスル・ヒル, Castle Hill, 本社, 2,200 million yen (US$13.4 million). Beneath it, (2) 重要な設備の除却等: 該当事項はありません, no significant disposals. Three of the eight names, SMC中国, SMC台湾 and SMCオーストラリア, are in the plan table but among neither the parent nor the nine overseas lines of the book-value tables, which are the facilities the report selects as 主要な設備; the first two are in the related-companies table on page 7, and the third is in the history, 1967年11月 SMCオーストラリアに資本参加.

The 66th report's plan table, 2025年３月31日現在, had eleven lines. The parent's line read ＳＭＣ株式会社, 千葉県柏市ほか, Kashiwa and elsewhere, 研究開発設備・生産設備・物流設備, 121,400 million yen (US$741.1 million), 自己資金. Then SMCベトナム製造, 生産設備, 15,900 million yen (US$97.1 million); SMC中国製造, 研究開発設備・本社・生産設備, 6,700 million yen (US$40.9 million); SMCアメリカ, アメリカ インディアナ, 研究開発設備・生産設備・物流設備, 5,000 million yen (US$30.5 million); SMC天津製造, 生産設備, 4,700 million yen (US$28.7 million); SMC台湾, 本社, 3,100 million yen (US$18.9 million); SMCオーストラリア, 本社, 3,000 million yen (US$18.3 million); SMC中国, 常州, 物流設備, 2,700 million yen (US$16.5 million); SMCマレーシア, マレーシア シャー・アラム, Shah Alam, 物流設備, 2,200 million yen (US$13.4 million); SMC韓国, 韓国 大田, Daejeon, 物流設備, 1,900 million yen (US$11.6 million); SMC北京製造, 生産設備, 1,300 million yen (US$7.9 million). Read against the 67th table, the parent's line has changed in three places: the place-name from 千葉県柏市ほか to 埼玉県草加市ほか, the description from three kinds of facility to two, with 研究開発設備 no longer among them, and the amount from 121,400 to 41,300 million yen (US$741.1 million to US$252.1 million); Kashiwa now stands in the book-value table as the Japan Technical Center line. Each table is a one-year plan as of its own date; neither plan table reports expenditure against the parent's 121,400 million yen (US$741.1 million) line, and this piece does not derive it. The funding column is consistent with the policy on page 35, 長期運転資金及び設備投資資金については自己資金により賄い, long-term working capital and capital investment are met from own funds; the same page prints borrowings of 5,092 million yen (US$31.1 million) and cash and cash equivalents of 573,769 million yen (US$3,502.9 million) at year-end. Page 50 lists 設備投資計画 under 重要な業務執行 among the board's principal agenda items for the year.

The report's own account of why it builds is in 優先的に対処すべき事業上及び財務上の課題 on page 9, under ② 着実な設備投資, steady capital investment. これらは、短期的には減価償却費の負担により収益性の悪化を招きますが、中長期的には当社グループの競争力を高め、企業価値の向上に資するものと考えています — these investments worsen profitability in the short term through the burden of depreciation, but in the medium to long term the company believes they raise its competitiveness and corporate value. Under (a) 生産能力の確保: 当社グループは、不況期にも着実な設備投資を行って生産能力を確保することにより、需要回復期には他社に先んじて受注を獲得し、販売シェアを伸ばす戦略を採用してきました — the group has adopted a strategy of investing steadily even in downturns so as to secure capacity, win orders ahead of others when demand recovers, and grow share — followed by 不透明な政治経済情勢を背景に、設備投資の抑制傾向がみられる現下の状況においても、生産拠点、物流拠点及び研究開発拠点の拡充を進めています, that even now, with capital spending being held back against an uncertain political and economic backdrop, it is expanding production, logistics and research sites. Under (b) 生産の複線化, the group describes moving from 集中生産とロケーションセービング, concentrated production in low-cost locations, to a system in which 一つの製品を複数の拠点で生産できる, one product can be made at several sites, 世界６か国の量産拠点を中心に, centred on volume plants in six countries. The results page, 32, uses the same vocabulary: 製品供給能力の拡大、BCPに基づく生産の複線化、開発能力の強化を目的とした積極的な設備投資を進め, and prints 営業利益, operating profit, at 190,558百万円(同0.2％増), 190,558 million yen (US$1,163.4 million), with the sentence 原価率の上昇、人件費ならびに減価償却費の増加により、前期並みの水準となりました, that a higher cost ratio and higher personnel and depreciation costs left it at the prior year's level. Page 33 adds the printed ratios: gross margin 45.3 percent, down 0.6 point, selling, general and administrative expenses 190,893百万円(同10.5％増), 190,893 million yen (US$1,165.4 million), with 減価償却費の増加 among the stated causes, and an operating margin of 22.6 percent, down 1.4 points. Every percentage in this paragraph is the report's.

Japan Technical Center is described in four other places in the 67th report, each in a different register. Page 10, under 人的資本投資: 近年竣工した新工場、新本社、新たな研究開発拠点Japan Technical Center(JTC)及び遠野サプライヤーパーク, the recently completed new plants, new head office, the new research base JTC and Tono Supplier Park, where the 66th report's page 9 had 建設中の新技術センター及び遠野サプライヤーパーク, the new technical centre under construction and the park. Page 22, under research and technical staff: Japan Technical Centerをグローバルフラグシップの研究開発拠点として位置付け, positioning it as the global flagship research and development base, alongside 世界５か国に研究開発拠点を配置, research bases in five countries. Page 23, under the working environment: 「スマートウェルネスオフィス」をコンセプトとした健康増進とストレス低減にも配慮した研究開発環境, a research environment on the concept of a smart wellness office, attentive to health and lower stress. Page 36, the research section, names the other four centres as 世界の拠点(米国、英国、ドイツ、中国), the United States, the United Kingdom, Germany and China, and closes with 当期の研究開発費は39,986百万円(前期比19.9％増)です, research and development expense of 39,986 million yen (US$244.1 million), up 19.9 percent as printed. The facilities table gives the centre's assets a book value by class, its land an area and its staff a count; the other pages give it a role. The two readings are of the same report, and the desk quotes each where it stands.

Method. The desk located the two annual securities reports in the EDINET document-list API for June 26, 2026 and June 27, 2025, retrieved the PDFs through the same API, and read them with pdfplumber: the section 設備の状況 (pages 37 to 38 of the 67th report, 34 to 35 of the 66th), the five-year table (page 2), the history (pages 4 to 5), 事業の内容 and 関係会社の状況 (pages 6 to 7), the priority issues (page 9), the human-capital pages (pages 10, 22 and 23), the risk section (page 30), the management analysis (pages 32 to 35 in the 67th, 28 to 29 in the 66th), 研究開発活動 (page 36 / page 33), the board agenda (page 50), 従業員の状況 (page 71 / page 7), the consolidated balance sheet (page 73), the cash-flow statement (page 79), the accounting policies (page 81), the notes on impairment and investment property (pages 85 and 96), the segment note (page 98) and the parent's fixed-asset schedule (page 110 / page 95). The facility, plan, balance-sheet and schedule tables were read with pdfplumber's table extraction and each column confirmed against its header label; bracketed and parenthesised figures were kept with the cell they were printed in. Yen are converted at ¥163.8 to the US dollar for reference. Every percentage and change is one the reports print; the desk computed no sum, ratio or difference of its own, and where a table prints a total it is the printed total that is quoted, with the lines beneath it left unadded. The chart plots the 合計 column of the two facility tables for both dates.