Rasa Corporation

Business Details

Handles the export, import, and sale of minerals and other materials, primarily Zircon Sand. The company has entered into an exclusive sales agency agreement in Japan with Iluka Resources (Australia), one of the world's leading mineral sand producers, supplying a wide range of applications including refractory materials, casting components, ceramics, and electronic materials. The company is also expanding imports of Titanium-related Materials, Alumina, etc., selling them to domestic companies as raw materials for welding materials, refractory materials, and ceramics.

Recent Overview

Net sales increased due to partial recovery in demand, but segment profit declined significantly due to increased SG&A expenses

In FY2026 (ending March 2026), although the impact of declining market prices for handled raw materials continued, net sales increased to ¥5,549 million, up ¥71 million (1.3%) year on year, due to a partial recovery in demand for certain raw materials. On the other hand, segment profit declined significantly to ¥108 million, down ¥69 million (-39.2%) year on year, due to an increase in selling, general and administrative expenses. By region, sales to Japan were ¥4,960 million, sales to Asia were ¥576 million (up from ¥349 million in the previous period), and other sales were ¥12 million.

Key Products

Growth Drivers

• Promoting the development of new resource-related materials such as rare earths and various raw materials related to electronic components
• Strengthening a stable supply system for Zircon Sand and maintaining the customer base through appropriate inventory management
• Diversifying handled products by expanding imports of Titanium-related Materials, Alumina, etc.
• Expansion of sales to Asia (a significant increase from ¥349 million in the previous period to ¥576 million in the current period)

Risks

• Direct impact on sales and profit from declining market prices of handled raw materials (continued in the current period)
• Risk of profit pressure due to increased selling, general and administrative expenses (materialized in the current period, resulting in a -39.2% decline in profit)
• Risk of unstable supply due to the situation of suppliers (such as Iluka Resources) or international conflicts and political instability
• High structural sensitivity to economic conditions, with business performance heavily influenced by domestic and overseas economic trends
• Foreign exchange risk (primarily due to export/import transactions)
• Uncertainty regarding demand and supply of handled products due to instability in the international situation (also mentioned in the outlook for the next period)