As your company begins drafting annual reports, take a moment to consider the final English translation.
You may think that planning for the translation stage is too early, especially if you haven’t yet drafted the original Japanese. However, this stage is the most effective time to think about translation.
Strong English output does not depend only on translation skills. A well-structured Japanese draft plays an equally important role. More logical Japanese leads to more logical English. Weak structure in your source text can appear in the English version, regardless of how skilled the translator is.
Let’s take a look at three core elements you should consider before you draft any investor relations materials: audience, objective, and outcome.
1. Audience
Identify your audience. Who will read your document?
Defining your primary reader allows you to shape the tone, terminology, and level of explanation in your report.
Primary readers include institutional investors, analysts, and overseas stakeholders, each with different expectations and levels of familiarity with your company. At the same time, your report may reach a broader audience, including global employees.
A Harvard Business School Online article notes that readers do not need to be financial experts to understand an annual report.
“If you’re not an investor, but an employee working within a corporation, the annual report can impart valuable information pertinent to your career. Understanding how your company is performing and the impact your actions have had on its business objectives can help you advocate for a promotion or other form of career advancement.”
Although this article addresses business school students and company employees, the takeaway here is that your audience might include more than those who are experts in finances, market analysis, and company valuation.
If you choose to write for a broader audience, focus on clear structure and accessible language. Avoid unnecessary complexity by limiting the use of lesser-known industry terms, overly complex financial language, internal terminology, and acronyms or abbreviations without context. Present information in a way that allows first-time readers to follow your narrative without needing to stress.
2. Objective
Clarify what your document needs to achieve.
The same Harvard Business School Online article explains that annual reports are unlike other pieces of financial data in that these reports are used as marketing collateral and include editorial elements and storytelling.
In other words, an annual report does not exist to present information alone. These reports should communicate financial performance, strategy, and a consistent narrative across all aspects of the business. But without a clear objective, the main message can become buried under information that does not guide the reader toward a single idea.
Clarifying your objective in each section of the report can help you avoid weighing down the Japanese with descriptions without purpose.
For example, if your company experienced a significant decrease in earnings, the financial review section may focus on explaining the key drivers behind that change, while the CEO message or individual business segment sections may reinforce how the company plans to increase earnings again.
Defining this intent in advance helps ensure that your narrative stays clear and consistent throughout the report.
3. Outcome
Define what you want your reader to think, understand, or do after reading.
Will your annual report shape how investors understand your growth drivers? Do you want analysts to model future performance with greater confidence? Or is your goal to build trust in your strategy and execution?
Ensure every section moves your reader toward this outcome. Section headers, titles, and word choice across the report should support the same direction.
A clear theme can help achieve this. See our blog on themes to understand why a strong theme can support your narrative and help ensure readers understand the takeaway.
The Takeaway
Define your audience, objective, and outcome before drafting. This step improves both your Japanese source text and your final English output. Strong investors relations communication depends on clarity of intent, not just language skills.
When you take time to structure your message before writing, you produce reports that investors can understand quickly and trust more easily.
Jessica Azumaya
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