Methodology
KabuFacts computes every figure from public filings and public statistics. This page explains how, in the order the site uses them.
How fresh each dataset is
Each date below is read from the data files this page was built from. Nothing is refreshed on a schedule yet: a person runs each fetch, so the column says how often that happens today.
| Dataset | Source | How often it is refreshed today | As of |
|---|---|---|---|
| Weekly reference closes | Yahoo! Finance Japan (one close per company per week) | Weekly, by hand: the Friday close, fetched on Saturday | |
| EDINET filings list | EDINET (Financial Services Agency) | By hand, usually daily; a day counts once it has closed in Japan | |
| IR calendars (results dates, briefings, AGMs) | Each company's own IR calendar page | By hand, at least on the Friday before each weekly issue | |
| Fundamentals (ten-year series, ratios) | Annual securities reports on EDINET (有価証券報告書) | After each company's annual report is filed | (oldest: ) |
The 100 companies
The 100 are the 90 largest Nikkei 225 constituents by market capitalisation, plus up to 10 more. Market capitalisation here is shares outstanding from EDINET times the weekly reference close.
The extra seats go to themes that the top 90 cover thinly. Ties are broken by securities code.
A company that leaves the 100, for example after a Nikkei 225 review, keeps its page with a notice. It is not removed or hidden from search.
Themes
A company joins a theme in one of two ways. One of its named business segments contains the theme's keyword, or the keyword appears often enough in the business description (事業の内容) of its latest annual report.
We count the keyword in the business description alone, never in the forward-looking management policy (経営方針) or the whole filing. The minimum is 3 mentions. If that leaves a theme with fewer than 2 companies among the 100, the minimum for that theme drops to 1.
A theme with fewer than 2 companies among the 100 gets no page. Each theme tag shows its evidence: the segment name, or the keyword count with an excerpt and the EDINET document ID.
Governance and capital-efficiency reform is defined by data instead of a keyword. A company qualifies when its PBR is below 1, the threshold the Tokyo Stock Exchange named in its request to listed companies.
Ten-year series
One annual report holds a five-year summary, so we merge two reports per company: the latest and one about five years older. Where both cover the same year and differ by more than 0.5%, the point keeps a note naming the difference.
A short period from a change of fiscal year end, such as a nine-month year, stays on the chart with a note. It is never filled in, and it is left out of growth rates, because a nine-month figure would distort them.
Ratio formulas
We compute every ratio from EDINET filings and the weekly reference close. A ratio is a company's own reported figure only where the list says so.
- Market cap: total shares issued in the latest filing × weekly reference close. Treasury shares are not deducted.
- PBR: weekly reference close ÷ book value per share (BPS) in the latest filing.
- PER (actual): weekly reference close ÷ basic earnings per share (EPS) in the latest filing, shown only when EPS is positive.
- Dividend yield (trailing): the latest actual dividend per share (DPS) ÷ weekly reference close.
- ROE and equity ratio: the company's own filed figures, shown as filed.
- Leverage: (1 ÷ equity ratio) − 1, which equals liabilities divided by equity. It is derived from the equity ratio, not a reported debt figure.
- Dividend streaks: consecutive fiscal years, latest first, without a cut or with an increase. A cut, a missing year or a fiscal-year change ends the count.
Company forecasts are not used, so the site shows no forecast PER or forecast yield. Net cash is not shown, because the filings' summary tables carry no separate interest-bearing debt line.
Share prices
The site records one closing price per company per week, the reference close, from 5 October 2026. Measures that need a longer price history appear once enough weeks exist: volatility, drawdown, the 52-week range and momentum.
The first issue had no earlier week to compare with, so the "What changed" sections start with the second week of data.
Screens
Seven rule screens use only EDINET filings and the weekly reference close: low PBR, value, dividend yield, dividend record, buybacks, takeover-bid filings and large-holding filings. A screen with no match is not published, except the value screen, which states its rule and says when no company meets it.
Three screens from the original plan are not built, because each needs a daily price history. They are the margin ratio (信用倍率), 52-week-low quality and year-to-date valuation.
Sorted screens list every company with a figure, highest first. Banks and insurers drop out where a formula does not fit their accounts.
Filings and filers
Buyback, large-holding and takeover-bid filings come from EDINET for the past 12 months. Buyback-status reports do not tag share counts or yen totals, so the site lists each report's document ID instead.
A filer appears by the name it filed under. We never label a filer an activist or anything similar without a public source that says so.
Data-quality flags
Small badges on a stock page, each linking to its glossary entry:
- Special items: the payout ratio exceeds 100% or PER (actual) is below 3, either of which distorts the ratio's usual meaning.
- Bank equity: a TOPIX-17 bank, whose equity ratio is an accounting figure, not a regulatory capital ratio (CET1).
- Cross-shareholdings: the trading-company and steel and nonferrous sectors, where cross-held shares often affect reported equity.
- Forecast PER, lessor equity, treasury basis and cancellation: no demand: reserved for data not yet computed company by company. They are never applied by guesswork.
Corrections
When we find an error, we correct the page and add a dated note at the foot of the item that says what was wrong and what is right. We do not delete the note.
Errors in a published weekly issue are corrected in that issue and listed in the next one.