I would like to express our cordial appreciation for your continuous support and loyal patronage.
In April 2026, the “Circular Economy Action Plan,” which encourages the recycling of critical
minerals and metal resources as well as the utilization of recycled resources, was approved by the
Cabinet. We recognize that the positioning of the circular economy as a national strategy is a significant
step towards transitioning to a “circular economy” that harmonizes economic growth with societal
sustainability. Looking globally, the risk of supply chain disruptions is increasing due to political
tensions and the impacts of war, and there is a trend of resource nationalism where resource-producing
countries are retaining their resources.
For nearly half a century, we have consistently upheld the purpose of “Totally Committed to Protecting
the Natural Environment and Preserving Resources,” and have been engaged in the business of recycling,
primarily in the fields of precious and rare metals. As society as a whole faces an urgent need to
transition to a circular economy, we believe that the continuation and expansion of our business align
with our social mission.
For the fiscal year ended March 2026, our performance resulted in revenue of 569.9 billion yen and an operating
profit of 37.0 billion yen. In our precious metals recycling business, we increased collection volumes
mainly in the electronics sector, improved profitability in the jewelry sector, and made progress in raw
material collection across Asia, including the establishment of a local subsidiary in India. Regarding our
North American refining business, we increased refining intake volumes, which served as a foundation
for growth in our product processing, warehousing, and trading businesses. As a result, both revenue
and operating profit reached record-high levels.
Concerning dividends, under the policy of maintaining stable dividends with a target payout ratio of
40%, we have decided on a year-end dividend of 65 yen for the fiscal year ended March 2026, representing an increase of
25 yen compared to the previous fiscal year-end. We will continue to focus on our impact on society
while striving to enhance corporate value and provide stable returns to our shareholders. We kindly ask
for the understanding and support of all our shareholders.
June 2026
Tomoya Higashiura
Representative Director, President & CEO