The company operates in two segments, Precious Metals and Environmental Preservation. The Precious Metals segment handles recycling and sale of gold, silver, palladium, platinum, and indium from electronic materials, dental materials, jewelry, and catalysts, while the Environmental Conservation segment collects and treats industrial wastes including acids, alkalis, oils, and medical wastes.
Cyborg Score Rationale
EBIT grew 39% in the last twelve months, and EBIT margins improved by 2.2 percentage points to 5.5% over the last year. However, the company has a sky high EBITDA ratio of 8.9, implying high debt.
Top Insights
Strong EBIT growth of 39% with improving margins suggests operational leverage and pricing power in metals recycling
High dividend yield of approximately 4.7% with solid interest coverage indicates financial sustainability despite elevated debt levels
Market capitalization of ¥279.7B reflects meaningful scale in Japanese industrials; recent insider shareholdings of ¥11B align management interests with shareholders
Environmental Preservation segment provides diversification and exposure to waste management market alongside precious metals cyclicality
Named Competitors
Precious Metals Recycling — Direct competitors in precious metals recovery and refining in Japan
Industrial Waste Management — Competitors in waste collection, transportation, and treatment services
Recent Developments
(April 2025) Initiated 1 billion yen share buyback program of 650,000 shares
(January 2026) EPS grew 5.1% annually over past three years with revenues expanding and margins improving
(March 2026) Current market capitalization reached ¥279.7B, up 3.55% over prior week
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