FUJI UNITED HOLDINGS COMPANY, LTD.
416A・Standard Market・Wholesale Trade
FUJI UNITED HOLDINGS COMPANY, LTD.
416A・Standard Market・Wholesale Trade
Recycling Business
Core green-domain business centered on industrial waste treatment and recycled heavy oil manufacturing, based across Hokkaido
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales | ¥1,605 million | — | — |
| Operating profit | ¥265 million | — | — |
| Operating margin | 16.5% | — | — |
| Depreciation | ¥146 million | — | — |
| Capital expenditure (increase in tangible and intangible fixed assets) | ¥67 million | — | — |
Business Details
A business centered on the collection and transport of industrial waste, intermediate processing, and the manufacturing and sale of recycled heavy oil, handled by Kankyo Kaihatsu Kogyo Co., Ltd. and Kashima Co., Ltd. It consists of three sub-businesses: Environmental Recycling (waste treatment), Resource Recycling (material recovery and sale), and Oil Recycling (waste oil collection and recycled heavy oil manufacturing and sale). With Hokkaido as its entire operating base, it contributes to regional environmental conservation through proper industrial waste treatment and resource circulation. It is positioned as the core segment of the Group's long-term vision of decarbonization and resource circulation, with expansion through M&A serving as a pillar of strategy.
Recent Overview
Expanded the recycling business foundation by making Kashima Co., Ltd. a subsidiary, achieving results above plan
On October 2, 2025, the company acquired all shares of Kashima Co., Ltd., making it a subsidiary. The company handles recycling businesses such as the recycling and volume reduction of industrial waste, and contributes to strengthening the Group's recycling business foundation and creating synergies. Performance for the fiscal year under review progressed steadily, exceeding plan with sales of ¥1,605 million and operating profit of ¥265 million. While the Environmental Recycling Business fell short of plan due to timing shifts in construction work, the rise in unit prices in the Resource Recycling Business and stable earnings secured in the Oil Recycling Business drove overall performance. Amortization of goodwill was ¥24 million (balance at fiscal year-end: ¥133 million).
Key Products
Growth Drivers
- Expansion of the recycling network through M&A (including making Kashima Co., Ltd. a subsidiary)
- Rise in material sale unit prices in the Resource Recycling Business
- Market-responsive appropriate sales and securing of collection volumes in the Oil Recycling Business
- Expanding demand for industrial waste treatment amid the shift toward decarbonization and a circular economy
- Active allocation of management resources to the green domain following the transition to a holding company structure
Risks
- Risk of fluctuations in sales and profit in the Environmental Recycling Business due to timing shifts in construction work
- Impact on earnings from fluctuations in recycled heavy oil and waste oil market conditions
- Risk of delays or failure in PMI (post-merger integration management) following M&A
- Regional economic and climate risk due to concentration of the operating base in the Hokkaido region
- Risk of tightening laws, regulations, and licensing requirements related to industrial waste treatment
Last updated: June 22, 2026