Overview
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Green Earth Institute Co.,Ltd.

Green Earth Institute is a technology development venture that leverages proprietary high-efficiency fermentation technology using Corynebacterium bacteria (RITE Bioprocess®) to produce chemicals from biomass feedstocks—including agricultural residues, food waste, and waste materials—as sustainable alternatives to petroleum-derived chemicals. The company operates a capital-light business model centered on four revenue streams: contract R&D, licensing (upfront fees and royalties), direct product sales (via toll manufacturing), and technology packages, progressing projects through a structured Stage 0–3 pipeline from concept to commercialization. Key products under development and commercialization include amino acids (valine, alanine, aspartic acid, β-alanine), bioethanol, and biojet fuel, with licensees having commenced commercial production as early as 2018.

Market Cap
¥2.83B
US$18.0M
EV
¥1.12B
US$7.16M
Stock¥249▼-1.58%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
1.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-62.4%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Mar 12, 26FY results announcement, guidance raise
MC → EV Bridge
2.83BUS$18.0MMarket Cap0.04BUS$0.23M+ Debt1.74BUS$11.1M− Cash0.00BUS$0.00M− Inv. Sec.1.12BUS$7.16MEV
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Performance & Balance
Revenue 5Y (¥B)
0.50US$3.21M'21/90.59US$3.73M'22/90.90US$5.72M'23/91.00US$6.39M'24/91.08US$6.86M'25/9
EBITDA 5Y (¥B)
-0.03-US$0.21M'21/9-0.07-US$0.47M'22/9-0.10-US$0.63M'23/9-0.13-US$0.85M'24/90.03US$0.18M'25/9
Net Income 5Y (¥B)
-0.23-US$1.49M'22/9-0.11-US$0.71M'23/9-0.13-US$0.85M'24/90.13US$0.81M'25/9
Capital Structure
98%
EquityD/E 0.02xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
0.84US$5.39M0.21US$1.31M'21/92.74US$17.5M0.20US$1.25M'22/92.40US$15.3M0.21US$1.31M'23/92.27US$14.5M0.16US$1.00M'24/92.06US$13.1M0.15US$0.94M'25/9
Shareholders
Top 10 hold 51.1%
1
SBI SECURITIES Co., Ltd.
10.54%
2
Custody Bank of Japan, Ltd. (Trust Account)
9.42%
3
Sumitomo Forestry Co.,Ltd.
7.93%
4
Research Institute of Innovative Technology for the Earth (Public Interest Foundation)
7.93%
5
Tomohito IHARA
3.96%
6
DIC Corporation
2.79%
7
AIR WATER INC.
2.64%
8
Electric Power Development Co.,Ltd.
2.11%
9
Rakuten Securities, Inc. (Joint Account)
2.09%
10
Koji KAWASHIMA
1.66%
Management
8 officers
Tomohito IHARA
Representative Director, CEO
Apr 1990 Joined Ministry of International Trade and Industry (currently Ministry of Economy, Trade and Industry) Jul 2005 Joined Recruit Co., Ltd. Jul 2011 Planning and Coordination Officer, National Strategy Office, Cabinet Secretariat Jan 2013 Joined the Company Jun 2013 Director of the Company Oct 2013 Representative Director of the Company (current)
1968-03-30
Koji KAWASHIMA
Director
Apr 1996 Joined The Nippon Credit Bank, Ltd. (currently SBI Shinsei Bank, Ltd.) Oct 2013 Seconded to the Company May 2016 Joined the Company Jun 2016 Director of the Company (current)
1973-04-06
Ryuji URATA
Director, CFO
Oct 1999 Joined Toranomon Joint Law Office Dec 2003 Joined Bearingpoint K.K. (currently PwC Consulting LLC) Oct 2011 Joined Recruit Co., Ltd. Oct 2017 Joined RPA Holdings Inc. (currently Open Group Inc.) Jun 2019 Joined the Company Nov 2019 Director of the Company (current)
1976-05-19
Takashi HONJO
Director
Apr 1978 Joined Ministry of International Trade and Industry (currently Ministry of Economy, Trade and Industry) Apr 1997 Seconded to Hyogo Prefecture May 2000 Returned to Ministry of International Trade and Industry Apr 2007 Councilor, Minister's Secretariat, Ministry of Economy, Trade and Industry (in charge of product safety) Jul 2008 Managing Director, Research Institute of Innovative Technology for the Earth (currently Research Institute of Innovative Technology for the Earth, a public interest foundation) Sep 2011 Director of the Company (current) Dec 2011 Managing Director, Research Institute of Innovative Technology for the Earth (current) Jun 2015 Senior Managing Director, Green Phenol Development Co., Ltd. (currently Green Chemicals Co., Ltd.) (current) Jun 2021 Director, Research Association of CO2 Geological Storage Technology
1955-06-26
Nobuo BESSHO
Director
Apr 1978 Joined Japan Synthetic Rubber Co., Ltd. (currently JSR Corporation) Jun 2002 Director, JSR Corporation Jun 2007 Corporate Auditor, JSR Corporation May 2009 Auditor, The Japan Society of Mechanical Engineering (public interest incorporated association) Jul 2012 Professor, Graduate School, Tokyo University of Science Feb 2017 Representative Director, RINCs Inc. (current) Jan 2018 Director, M&C Design Co., Ltd. (current) Mar 2018 Representative Member, Daikoku Sho LLC (current) Feb 2020 Director of the Company (current)
1949-09-07
Shizuo OKAYASU
Corporate Auditor
Apr 1980 Joined Mitsui Bank, Ltd. (currently Sumitomo Mitsui Banking Corporation) Oct 2008 Joined Dynam Co., Ltd. Apr 2009 Executive Officer, Dynam Co., Ltd. Jun 2011 Joined Dynam Japan Holdings Co., Ltd. Jan 2012 Executive Officer, Dynam Japan Holdings Co., Ltd. Mar 2017 Corporate Auditor, Dynam Business Support Co., Ltd. Mar 2017 Corporate Auditor, Japan Hyumap Co., Ltd. Jul 2018 Director, Bitcoupon Co., Ltd. Dec 2018 Corporate Auditor of the Company (current)
1956-11-14
Toshiharu TAKA
Corporate Auditor
Apr 1995 Joined The Nippon Credit Bank, Ltd. (currently SBI Shinsei Bank, Ltd.) Dec 1999 Joined Tohmatsu & Co. (currently Deloitte Touche Tohmatsu LLC) Oct 2014 Opened Toshiharu Taka Accounting Office, Representative (current) Mar 2015 Corporate Auditor of the Company, assumed office (current) Jul 2015 Director, Coworking Cooperative (current) May 2016 Auditor, Japan BPO Association (current) Aug 2016 Established Freiheit LLC, Representative Member (current) Aug 2018 Corporate Auditor, Medicalnet Co., Ltd. (current) Apr 2021 Auditor, Shibuya Font Association (current) Mar 2022 Corporate Auditor, Miltel Inc. Apr 2022 Auditor, Wireless Power Transfer Commercialization Consortium (current) Oct 2023 Auditor, Co-Creation Business Development Association (current) Mar 2025 Corporate Auditor, NovAccel Inc. (current) Apr 2025 Corporate Auditor, FREST Inc. (current)
1973-01-13
Yoshihiko MASUDA
Corporate Auditor
Dec 2004 Joined Azsa LLC (currently Azsa LLC, Certified Public Accountants) Aug 2013 Joined Asahi Tax Accountants Jul 2015 Opened Yoshihiko Masuda Certified Public Accountant Office, Representative (current) May 2018 Director (Audit and Supervisory Committee Member), RPA Holdings Inc. (currently Open Group Inc.) (current) Dec 2019 Corporate Auditor of the Company (current) May 2020 Corporate Auditor, RPA Technologies Inc. (currently Open Inc.) (current) May 2020 Corporate Auditor, Segment Inc. (currently Open Inc.) (current) May 2020 Corporate Auditor, Open Associates Inc. (currently Open Inc.) (current) May 2020 Corporate Auditor, Riegle Co., Ltd. (current) Dec 2023 Corporate Auditor, B-Style Gig Works Inc. (currently Gokinjo Work Inc.) (current)
1982-04-27
Large Shareholding Reports
Daiwa Asset Management Co., Ltd.
2026-10-06
8.15%→6.81%
Daiwa Asset Management Co. Ltd.
2026-09-04
9.23%→8.15%
SBI Securities Co., Ltd.
2026-06-22
5.57%→0.77%
Annual report (as of 2026-03-31): 10.54%
SBI Securities Co., Ltd.
2026-04-21
5.57%
Annual report (as of 2026-03-31): 10.54%
Daiwa Asset Management Co., Ltd.
2026-04-08
10.28%→9.23%
SBI Securities Co., Ltd.
2026-04-06
5.66%→0.66%
Annual report (as of 2026-03-31): 10.54%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-06
Large Shareholding Report
EDINET
2026-09-04
Large Shareholding Report
TDnet
2026-08-14
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-06-22
Large Shareholding Report
EDINET
2026-05-15
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
EDINET
2026-04-21
Large Shareholding Report
EDINET
2026-04-08
Large Shareholding Report
EDINET
2026-04-06
Large Shareholding Report
TDnet
2026-02-16
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2025-12-23
Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-08-14
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
2024-12-24
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-05-15
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-22
Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-12-23
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
2021-12-27
Annual Securities Report
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