ENVALITH
アミタホールディングス株式会社 logo

AMITA HOLDINGS CO.,LTD.

2195・Growth Market・Services

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アミタホールディングス株式会社 logo
AMITA HOLDINGS CO.,LTD.2195

Business

AMITA HOLDINGS has accumulated sustainability-field expertise for over 45 years since its founding (predecessor) in 1977, and operates a "Social Design Business" for corporations and local governments. The business consists of four areas: (1) Transition strategy support for corporations and local governments, (2) Manufacturing and supply of circular materials through 100% resource recycling of waste, (3) Overseas operations management centered on Malaysia and Indonesia, and (4) Circular management support via ICT/BPO (Circular Links, an equity-method affiliate). Its main customers are major domestic manufacturers and local governments, and it is listed on the TSE Growth Market. The company has 5 consolidated subsidiaries and 2 equity-method affiliates.

Business Model

The company's revenue pillars consist of the intermediate processing and recycling of industrial waste at four domestic circular resource plants (production value of ¥3,035 million, 95.6% year-on-year) combined with corporate sustainability consulting, environmental certification audits, and ICT/BPO services. The manufacturing segment generates variable revenue linked to client companies' production trends, while the service segment provides stable revenue through continuing contracts, forming a two-layer structure. Against FY2025 net sales of ¥4,866 million, the company secured an operating margin of 9.0%.

Company Strengths

AMITA CORPORATION is certified as Japan's first FSC® forest certification review company and ASC aquaculture certification body, and Asia's first MSC CoC certification body, establishing a unique position in the environmental certification audit market, which has high entry barriers. Its sustainability expertise, accumulated over more than 45 years since its founding in 1977, serves as a key differentiator from competitors.

The company owns proprietary circular material manufacturing plants at four domestic locations—Himeji, Kitakyushu, Ibaraki, and Kawasaki—and provides 100% recycling services based on industrial waste treatment business licenses. It has already invested ¥755,866 thousand in construction in progress for the Himeji Smart Factory, scheduled to begin operations in July 2026, and is advancing the transition to an AI-driven "Circular 3.0" model.

The ICT/BPO services provided by Circular Links Co., Ltd. (established April 2024), a joint venture with the Sumitomo Mitsui Finance and Leasing Group, have performed well against a backdrop of client companies facing labor shortages and emerging governance risks. The partner network has also expanded rapidly, with the number of municipalities participating in ESA more than doubling in a single year.

ENVALITH's Perspective

Operating profit for 1Q cumulative of FY2026 (ending December 2026) declined sharply to ¥35 million (versus ¥100 million in the same period last year), with progress against the full-year forecast of ¥500 million standing at just 7.1%. The main causes were delays in orders for the Cyano Project and a decline in domestic circular material handling volume. Although the earnings forecast has not been revised, it presupposes a rapid recovery over the remaining three quarters, making it essential to monitor order trends going forward.

As an external factor, the phased mandating of sustainability disclosure based on SSBJ standards starting from FY2027 (ending March 2027) is expected to boost demand for sustainability management support. However, in 1Q, orders fell below the same period last year, as it was noted that "it is taking time to respond to changes in the business environment of client companies." Whether the SEA community launched in April and the restructuring of product design will translate into concrete orders will be the key focus from 2Q onward.

As of the end of March 2026, long-term borrowings (including the portion due within one year) stood at ¥2,573 million, accounting for 34.7% of total assets of ¥7,414 million. As an external factor, amid the continuing environment of rising domestic interest rates, interest expenses in 1Q increased to ¥11 million (versus ¥9 million in the same period last year). Although the equity ratio improved to 39.6% from 38.3% at the end of the previous fiscal year, the risk of breaching financial covenants requires continued monitoring.

Growth Strategy

Positioning 2026-2027 as a market expansion period, simultaneously advancing AI utilization, smart factory development, and overseas expansion

Launched "SEA (Sustainable Executive Alliance)," a community for executives in the multi-agent AI era, in April 2026. Promoting AI-driven sophistication and efficiency in business negotiations along with an integrated cross-group sales strategy to resolve order delays.

Building a smart factory within the Himeji Circular Resource Manufacturing Plant that combines centralized management of shipping/receiving reservation systems, automated control systems, and conversational AI. Implementation of the "Circular 3.0" model, which aims to improve resource productivity rather than simply expand handling volume.

Advancing preparations for a 100% resource recycling business targeting the cement industry, in collaboration with the Tamaris Moya Group and Indocement. Building the business foundation with the aim of opening a circular resource manufacturing plant within FY2027 (ending March 2028).

Deploying MEGURU STATION in Kameoka City, Kyoto Prefecture (1st location opened January 2026) and Buzen City, Fukuoka Prefecture (3rd location opened March 2026). Also conducting plastic traceability demonstrations with NTT DOCOMO Business, accelerating the development of region-specific models.

Selected for projects in Indonesia and India for FY2026 (Reiwa 8), following selection in FY2025 (Reiwa 7). Securing public support for overseas business development through feasibility studies related to waste recycling and other initiatives.

Last updated: July 17, 2026