Daiseki Co., Ltd.
9793・Prime Market・Services
Business
Daiseki Co., Ltd. was founded in 1958 and became the industrial waste treatment industry's first publicly listed company in 1995, establishing itself as an industry leader. The group consists of eight consolidated subsidiaries (Hokuriku Daiseki, Daiseki Environmental Solutions, Daiseki MCR, System Kiko, Green Arrows Chubu/Kyushu, Sugimoto Shoji, and Sugimoto Shigyo). In addition to its core business of industrial waste collection, transport, and intermediate processing centered on factory wastewater, the company offers a diverse range of environmental services including soil contamination investigation and treatment, lead recycling, large-scale tank cleaning, VOC gas recovery, and the manufacture and sale of petrochemical products. The company is listed on the Prime/Premier markets of the Tokyo and Nagoya Stock Exchanges. It operates as a single segment focused on the environment-related business.
Business Model
The company collects and performs intermediate processing of industrial waste such as factory wastewater and contaminated soil from corporations, with disposal contract fees as its primary revenue source. At the same time, it secures dual revenue streams by recovering and selling valuable materials such as recycled fuel and recycled lead from the waste. The basic structure for revenue growth involves expanding the range of items that can be processed and recycled through capital investment, and increasing market share by acquiring new factory clients. The company balances capital investment with shareholder returns under financial discipline based primarily on internal funds.
Company Strengths
Listed in 1995 as the industrial waste treatment industry's first publicly traded company, establishing its position as an industry leader. Complex, overlapping licensing requirements under the Waste Management Act, Soil Contamination Countermeasures Act, Construction Business Act, and other regulations serve as entry barriers, and the trend toward consolidating waste treatment outsourcing among companies focused on proper treatment and recycling is working in the company's favor.
For FY2025 (ending February 2025), the company achieved operating profit of ¥14,318 million on net sales of ¥67,304 million (operating margin of approximately 21.3%). Cash flow from operating activities was stably generated at ¥13,825 million, and financial soundness is high, with liabilities of ¥19,784 million against net assets of ¥93,850 million and total assets of ¥113,635 million.
In FY2025 (ending February 2025), the order backlog surged to ¥10,591 million (up 312.1% year on year). Orders received also expanded to ¥73,311 million (up 107.6% year on year), and the accumulation of high-value-added projects, such as large-scale contaminated soil treatment and construction projects in the Kanto region, supports an earnings recovery from the following period onward.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal periods peaked at ¥69,216 million in FY2024, dipped slightly to ¥67,304 million in FY2025, then rose to a record ¥71,845 million in FY2026. In Q1 FY2027 (ending February 2027) (March–May 2026), revenue was ¥18,275 million (up 2.0% year on year), operating profit was ¥4,151 million (up 8.3%), ordinary profit was ¥4,267 million (up 8.9%), and profit attributable to owners of parent was ¥2,871 million (up 17.6%), with all metrics reaching record highs. A year-on-year decline in cost of sales improved the gross profit margin, contributing significantly to the profit increase. While raw material and labor costs continue to rise as an external headwind, this has been absorbed through active acquisition of waste liquid and promotion of high-value-added projects. The full-year forecast (revenue of ¥74,200 million, operating profit of ¥16,800 million) remains unchanged, projecting increases of 3.2% and 15.1% respectively versus the previous fiscal year.
Growth Strategy
Aiming for net sales of ¥81,000 million in FY2028 (ending February 2028) through area expansion, improved recycling technology, and strengthened human resources
At the core Daiseki entity, the company aims to simultaneously expand processing volume, net sales, and operating profit by aggressively acquiring waste liquid used as feedstock for recycled fuel. In Q1 of FY2027 (ending February 2027), the company achieved record-high net sales and operating profit, confirming the effectiveness of the strategy.
Daiseki Eco Solution newly secured a large-scale factory waste removal project in the Chubu area, while large-scale contaminated soil treatment and construction projects in the Kanto and Kansai regions have been progressing smoothly. Operating profit increased even amid a decline in net sales, reflecting qualitative improvement in projects.
The company is pursuing nationwide area expansion, including the opening of the Hiroshima base in March 2024 and the acquisition of land in Hokkaido in September 2024. The plan is to support medium-term sales growth as revenue contributions from new bases become full-fledged. Construction in progress increased from ¥890 million at the end of the previous fiscal year to ¥1,400 million, indicating ongoing capital investment.
The company continues to strengthen efforts to secure personnel and enhance training in preparation for business expansion. Through management that emphasizes its purpose as an 'environment-creating company,' it aims to become a company beloved by local communities while improving processing capacity and service quality.
Last updated: July 17, 2026