Overview
Nonferrous Metals

Asaka Riken Co.,Ltd.

Asaka Riken operates three core business segments: a Precious Metals Business recovering gold, silver, platinum, palladium, and lithium carbonate from electronic component scrap and urban mines using its proprietary 'Hiect' solvent extraction technology; an Environmental Business regenerating spent ferric chloride etching solutions from printed circuit board manufacturers while recovering and selling copper by-products; and a Systems Business developing and selling automated measurement and quality management systems compliant with ISO 9001 and IATF 16949 standards. The company serves a diverse customer base including electronics manufacturers, dental clinics, and PCB makers, with a consolidated subsidiary (Asaka Koun Co., Ltd.) handling industrial waste transportation. Headquartered in Fukushima, Asaka Riken positions itself as a circular economy specialist contributing to resource recycling and environmental preservation.

Market Cap
¥12.1B
US$77.0M
EV
¥14.6B
US$93.0M
Stock¥2,398▼-1.07%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
8.5
x
LTM EV/EBIT
10.8
x
LTM PER
13.4
x
LTM PBR
2.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+16.5%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Aug 10, 26Q3 FY2026/09 earnings announced
MC → EV Bridge
12.1BUS$77.0MMarket Cap7.47BUS$47.7M+ Debt4.47BUS$28.5M− Cash0.49BUS$3.11M− Inv. Sec.14.6BUS$93.0MEV
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Performance & Balance
Revenue 5Y (¥B)
8.07US$51.5M'21/98.59US$54.8M'22/98.29US$52.8M'23/97.97US$50.8M'24/98.69US$55.4M'25/9
EBITDA 5Y (¥B)
0.65US$4.13M'21/91.05US$6.68M'22/90.67US$4.25M'23/90.60US$3.81M'24/90.84US$5.33M'25/9
Net Income 5Y (¥B)
0.38US$2.41M'21/90.62US$3.97M'22/90.31US$1.96M'23/90.37US$2.37M'24/90.30US$1.91M'25/9
Capital Structure
44%
56%
EquityD/E 1.28xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
1.82US$11.6M2.20US$14.1M'21/92.06US$13.2M2.09US$13.3M'22/91.88US$12.0M2.53US$16.2M'23/91.71US$10.9M1.82US$11.6M'24/94.36US$27.8M5.51US$35.2M'25/9
Shareholders
Top 10 hold 58.5%
1
Moral Corporation Ltd.
41.75%
2
The Joyo Bank, Ltd. (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
3.58%
3
The Toho Bank,Ltd. (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
3.22%
4
Nippon Life Insurance Company (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
2.88%
5
Tokyo Small and Medium Business Investment & Consultation Co., Ltd.
1.99%
6
Rakuten Securities, Inc.
1.32%
7
Asaka Riken Co.,Ltd. Employee Stock Ownership Association
1.15%
8
Seiichi SHIRAIWA
1.13%
9
Nomura Securities Co., Ltd.
0.74%
10
Keita YAMADA
0.70%
Management
9 officers
Keita YAMADA
Director, Chairman (Representative Director)
Apr 1973 Joined the Company, in charge of development Apr 1973 Established Asaka MR Reduce Co., Ltd. (renamed Asaka MR Co., Ltd. Jun 1981; business transferred to the Company Mar 1985); Director of same company May 1978 Director, Asaka MR Co., Ltd. Jul 1980 Director, the Company; General Manager, Manufacturing Division Jun 1981 Representative Director, Asaka MR Co., Ltd. Mar 1985 Representative Director, the Company; General Manager, MR Business Division Oct 1988 Director, the Company; General Manager, MR Business Division Sep 1989 Senior Managing Director, the Company Jul 1991 Representative Director, Executive Vice President, the Company Apr 1992 Representative Director, President, Asaka Koun Co., Ltd. Apr 1993 Established Asaka MR Co., Ltd. (absorbed by the Company Oct 2003); Director of same company Nov 1994 Representative Director, President, the Company Jul 1998 Representative Director, Asaka Koun Co., Ltd. Dec 2013 Representative Director, Chairman, the Company Dec 2015 Representative Director, President, the Company Dec 2019 Representative Director, Chairman, the Company (current)
1954-08-03
Kota YAMADA
Director, President (Representative Director)
Apr 2012 Joined the Company Apr 2014 Director, ASAKARIKEN (M) SDN. BHD. Nov 2016 Deputy Head, Sales Division, the Company Dec 2016 Director, Executive Officer, Deputy Head, Sales Division, the Company Dec 2017 Director, Executive Officer, Head of Sales Division, the Company Nov 2019 Representative Director, ASAKA SOLAR Co., Ltd. (current) Oct 2020 Director, Executive Officer, Head of Administration Division, the Company Oct 2022 Representative Director, President, the Company (current)
1983-11-29
Ryoichi SAKUMA
Director, Head of Manufacturing Division
Apr 1981 Joined the Company Apr 1993 Director, Asaka MR Co., Ltd. Apr 2005 General Manager, System Business Division, the Company Oct 2009 General Manager, Sales Department, Environment Business Division, the Company Dec 2013 Executive Officer, General Manager, Manufacturing Department, Precious Metals Business Division, the Company Apr 2015 Executive Officer, Head of Manufacturing Division, the Company Dec 2015 Director, Executive Officer, Head of Administration Division, the Company Dec 2019 Director, Head of Administration Division, the Company Oct 2020 Director, Head of Sales Division, the Company Jan 2022 Director, Head of Sales Division and Head of Manufacturing Division, the Company Jun 2025 Director, Head of Manufacturing Division, the Company (current)
1959-02-18
Yukio SAKUMA
Director, Chief Technology Officer (CTO)
Apr 1979 Joined Kobishi Electric Co., Ltd. (now Saxa Precision Co., Ltd.) Apr 1982 Joined Japan National Railways (now East Japan Railway Company) Nov 1989 Joined the Company May 2004 Executive Officer, General Manager, RMF Business Division, the Company Dec 2008 Director, the Company Jul 2010 Executive Officer, Head of Technology and Development Division, the Company Dec 2016 Director, Head of Technology and Development Division, the Company Dec 2017 Director, Chief Technology Officer, the Company (current)
1956-10-24
Hidehisa MISAKI
Director (Audit and Supervisory Committee Member)
Apr 1999 Associate Professor, Faculty of Economics, Fukushima University Oct 2004 Associate Professor, Faculty of Economics and Business Administration, Fukushima University (reorganized) Oct 2004 Director, Kyoso Ken Co., Ltd. Apr 2006 Associate Professor, Faculty of Business Administration, University of Hyogo Apr 2007 Associate Professor (title change), Faculty of Business Administration, University of Hyogo Dec 2007 Director, the Company Apr 2009 Professor, Faculty of Business Administration, University of Hyogo Apr 2014 Professor, Research Institute for Policy Sciences, University of Hyogo Dec 2015 Director (Audit and Supervisory Committee Member), the Company (current) Apr 2020 Professor, Faculty of International Business and Economics, University of Hyogo Apr 2025 Professor, Faculty of Business Data Science, Kansai University (current)
1971-11-01
Noboru KAGAMI
Director
Apr 1982 Joined Asahi Breweries, Ltd. (now Asahi Group Japan, Ltd.) Sep 2012 Executive Officer, Plant Manager, Fukushima Plant, Asahi Breweries, Ltd. Jan 2013 Executive Officer, Plant Manager, Hakata Plant, Asahi Breweries, Ltd. Mar 2016 Director and Executive Officer, Asahi Group Holdings, Ltd. Mar 2019 Senior Managing Director, Asahi Group Foods, Ltd. Mar 2020 Managing Executive Officer, Asahi Group Holdings, Ltd.; Representative Director, Asahi Group Academic Promotion Foundation; Representative Director, Asahi Group Arts and Culture Foundation Mar 2022 Advisor, Asahi Group Japan, Ltd. Apr 2023 Representative Director, Asahi Group Foundation Jun 2024 Retired as Advisor, Asahi Group Japan, Ltd.; resigned as Representative Director, Asahi Group Foundation Dec 2025 Director, the Company (current)
1958-11-29
Tsuyoshi TSUCHIDA
Director
Apr 1984 Joined Ishikawajima-Harima Heavy Industries Co., Ltd. (now IHI Corporation) Jun 2001 Executive Vice President, IHI INC. (New York) Apr 2007 General Manager, Procurement Management Department, Procurement Management Division, IHI Corporation Apr 2009 General Manager, Management Department, Logistics Sector, IHI Corporation Apr 2011 Deputy Sector Head and General Manager, Planning and Management Department, Industrial, Environmental and Logistics Sector, IHI Corporation Oct 2012 Director, IHI Polewalk Corporation Jun 2013 Chairman, IHI Polewalk Corporation Jun 2015 Representative Director, President, IHI Logitech Corporation; Strategic Business Unit Head, Logistics and Industrial Systems, Industrial Systems and General-Purpose Machinery Business Area, IHI Corporation Apr 2020 Executive Officer, IHI Corporation; Deputy Business Area Head, Industrial Systems and General-Purpose Machinery Business Area Apr 2021 Executive Officer, Deputy Business Area Head, Industrial Systems and General-Purpose Machinery Business Area, IHI Corporation Apr 2022 Managing Executive Officer and General Manager, Corporate Planning Department, IHI Corporation Apr 2023 Senior Managing Executive Officer, IHI Corporation Jun 2023 Representative Director, Senior Managing Executive Officer, IHI Corporation Apr 2025 Director, IHI Corporation Jun 2025 Executive Fellow, IHI Corporation Dec 2025 Director, the Company (current)
1961-01-05
Masasuke SUEDAI
Director (Audit and Supervisory Committee Member)
Apr 1981 Joined Nihon Shinku Gijutsu K.K. (now ULVAC, Inc.) Jul 2003 General Manager, First FPD Business Division, ULVAC, Inc. Sep 2006 Director, ULVAC, Inc. Jul 2012 Director, Executive Officer, ULVAC, Inc. Jul 2013 Director, Executive Officer, General Manager, Sales Division, ULVAC, Inc. Jun 2014 Outside Director, Showa Shinku Co., Ltd. Jul 2014 Director, Managing Executive Officer, General Manager, Sales Division, ULVAC, Inc. Jul 2015 Director, Senior Managing Executive Officer, General Manager, Sales Division, ULVAC, Inc. Jul 2016 Senior Managing Executive Officer, ULVAC, Inc.; Representative Director, President, ULVAC Techno, Ltd. Jul 2019 Senior Managing Executive Officer, ULVAC, Inc.; Director, Chairman, ULVAC Techno, Ltd. Sep 2019 Director, Senior Managing Executive Officer, ULVAC, Inc. Jun 2020 Chairman, Japan Vacuum Industry Association (general incorporated association) Jul 2020 Senior Managing Director, ULVAC, Inc. Aug 2020 Representative Director, President, ULVAC Sales Co., Ltd. Sep 2020 Director, Chairman, ULVAC Techno, Ltd. Sep 2021 Director, ULVAC, Inc. (retired); Sales Advisor, ULVAC, Inc. Jun 2023 Retired as Sales Advisor, ULVAC, Inc. Dec 2023 Director (Audit and Supervisory Committee Member), the Company (current)
1957-08-23
Fumiko ICHIKAWA
Director (Audit and Supervisory Committee Member)
Apr 1978 Joined Ishikawajima Sangyo Kikai K.K. (now IHI Logistics & Industrial Systems Corporation) Apr 2006 General Manager, Accounting Group, Accounting Department, the company Jul 2007 General Manager, General Affairs and Accounting Group, Administration Department, Motomiya Office, IHI Machinery Systems Co., Ltd. (now IHI Logistics & Industrial Systems Corporation) Feb 2009 General Manager, Finance Department, the company Oct 2009 Senior Manager, Finance Group, Administration Department, the company Apr 2011 General Manager, Finance Department, the company Jun 2011 Executive Officer, the company Apr 2015 Director, the company Apr 2016 Director, IHI Logistics & Industrial Systems Corporation Jun 2018 Audit & Supervisory Board Member, Japan Marine United Corporation Dec 2022 Director, the Company Dec 2025 Director (Audit and Supervisory Committee Member), the Company (current)
1956-02-05
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-10
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-05-15
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
TDnet
2026-02-12
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2025-12-23
Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-08-12
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-05-15
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-02-14
Q1 Earnings Flash
FY ending Sep 2025
EDINET
2024-12-20
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-22
Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINETAmended
2022-12-21
Amended Annual Securities Report
EDINET
2022-12-21
Annual Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-12-22
Annual Securities Report
EDINET
2021-08-13
Quarterly Securities Report
EDINET
2021-05-12
Quarterly Securities Report
EDINET
2021-02-05
Quarterly Securities Report
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