MERF Inc.
3168・Standard Market・Wholesale Trade
Governance
Company with a Board of Corporate Auditors (transitioned in November 2023). Of the 7 directors, 4 are outside directors (approximately 57%), constituting a majority, and the company has established a voluntary Nomination and Compensation Committee chaired by an independent outside director. The Board of Directors met 15 times during the fiscal year under review, with a high attendance rate confirmed among all members, demonstrating effective operation.
Risk Management
The company has established an emergency response headquarters, led by the President, based on its
Shareholder Returns
For FY2026 (ending August 2026), an ordinary dividend of ¥10 and a commemorative dividend of ¥10, totaling ¥20, were already paid at the end of the second quarter. The full-year forecast dividend is ¥30 per share (interim ¥20, year-end ¥10), representing an increase of ¥10 year on year.
Dividend Policy
The basic policy is to pay dividends twice a year (interim and year-end). Actual dividends for FY2025 (ended August 2025) were ¥20 per share (interim ¥10, year-end ¥10). For FY2026 (ending August 2026), an ordinary dividend of ¥10 and a commemorative dividend of ¥10, totaling ¥20, have already been paid at the end of the second quarter, and the full-year forecast dividend is ¥30 per share (interim ¥20, year-end ¥10 forecast). There has been no revision to the most recent dividend forecast.
ESG
Through its core business of metal recycling (nearly 100% of products derived from waste-based raw materials), the company contributes to realizing a circular economy and a low-carbon society. It issued an SDGs Declaration in March 2025, and from April of the same year introduced a GHG emissions measurement tool to begin measurement (specific reduction targets are under consideration). The company has obtained ISO14001 certification. On the human capital side, it discloses that approximately 46% of managerial positions are held by mid-career hires and about 12% by women, promoting diverse personnel appointments.
Last updated: July 14, 2026