Chugai Mining Co.,Ltd.
1491・Standard Market・Nonferrous Metals
Precious Metals Business
The core business accounting for approximately 99% of Chugai Mining's net sales, handling the recycling, refining, and sale of gold, platinum, and other precious metals.
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥278,161 million (FY2026, ending March 2026) | ¥157,632 million (FY2025, ended March 2025) | ↑ |
| Segment profit | ¥2,809 million (FY2026, ending March 2026) | ¥1,043 million (FY2025, ended March 2025) | ↑ |
| Segment assets | ¥9,864 million (FY2026, ending March 2026) | ¥9,225 million (FY2025, ended March 2025) | ↑ |
| Depreciation and amortization | ¥32 million (FY2026, ending March 2026) | ¥31 million (FY2025, ended March 2025) | — |
| Increase in tangible and intangible fixed assets | ¥67 million (FY2026, ending March 2026) | ¥24 million (FY2025, ended March 2025) | ↑ |
Business Details
The Company and its subsidiaries produce and sell gold, silver, platinum, and palladium bullion; purchase and sell precious metal scrap (including base metals containing gold and silver); and sell precious metals, artworks, diamonds, and jewelry. The Tokyo Plant is equipped with gold refining and recovery facilities, and the Company maintains stable operations through raw material collection via nine sales offices nationwide. Major customers include Mitsubishi Corporation RtM Japan (47.6% of net sales), Asahi Pretec (33.0%), and Matsuda Sangyo (4.1%), reflecting a high degree of customer concentration.
Recent Overview
Both net sales and profit increased substantially, driven by rising gold prices and solid collection of recycled raw materials.
In FY2026 (ending March 2026), net sales in the Precious Metals Business increased substantially to ¥278,161 million (up 76.5% year on year), and segment profit rose to ¥2,809 million (up 169.2% year on year). Gold prices maintained an upward trend throughout the fiscal year amid heightened US trade policy and geopolitical risks, while solid collection volumes of recycled raw materials sustained high plant utilization rates. Although gold prices temporarily trended downward from February 2026 due to the Middle East situation, the Company achieved higher sales and profit for the full fiscal year.
Key Products
Growth Drivers
- Historically high gold prices (driven by geopolitical risk, US trade policy, and increased demand for safe-haven assets)
- Sustained high plant utilization rates supported by solid collection volumes of recycled raw materials (scrap)
- Active raw material collection and sales channel expansion through nine sales offices nationwide
- Long-term expectations for growth in platinum demand for electrode catalysts in a hydrogen-based (decarbonized) society
- Diversification of sales channels through the Company's own auctions
Risks
- Risk of fluctuations in precious metals market prices (gold, platinum, etc.)
- Risk of sales concentration among specific customers such as Mitsubishi Corporation RtM Japan and Asahi Pretec (top two customers account for approximately 80% of net sales)
- Risk of declining plant utilization due to fluctuations in recycled raw material collection volumes
- Foreign exchange risk (impact of yen depreciation/appreciation on purchase and sale prices)
- Impact on precious metals demand and prices from changes in Bank of Japan monetary policy or global inflation trends
- Risk of a sharp decline in gold prices due to changes in geopolitical risks such as the Middle East situation
Last updated: June 25, 2026