1. Japan Stocks

  2. •

    Basic Materials

  3. •

    Industrial Materials
MERF Inc.

MERF Inc.

3168.T
MERF Inc.JP flagTokyo Stock Exchange
1,240.00
JPY
-11.00
- -
17.55BMarket Cap
MERF Inc.
3168.T
(Tokyo Stock Exchange)

Recent

price

1,240.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
4,007.88
4,274.35
3,390.2
3,493.33
3,557.29
3,910.74
2,996.13
3,687.59
3,961.2
3,566.11
3,018.61
4,374
6,268.15
5,977.83
- -
5,835.23
- -
Revenue per Share
53.58
99.64
-2.61
28.62
6.82
7.18
-27.15
72.34
32.29
-16.23
26.71
95.42
38.49
12.03
- -
-14.37
- -
Basic EPS, GAAP
-59.59
-86.38
149.46
16.13
-258.91
217.76
-31.5
-36.71
-53.37
-31.15
95.95
-289.84
-161.54
88.22
- -
110
- -
Free Cash Flow per Basic Share
4.98
4.8
17.4
12.48
9.99
10.04
7.52
5.02
12.5
15.04
14.96
15.01
17.5
20.04
- -
19.99
- -
Dividend per Share
403.05
489.19
408.42
452.91
449.74
446.91
409.83
477.18
496.97
470.18
483.42
562.99
582.9
577.54
- -
561.66
- -
Book Value per Share
385.25
567.89
478.21
502.98
503.2
500.7
459.75
538.88
555.6
515.68
531.96
609.57
644.89
640.1
- -
643.69
- -
Tangible Book Value per Share
12
13
14
14
14
14
14
14
14
14
14
14
14
14
- -
14
- -
Basic Weighted Avg Shares
48,319
53,684
48,606
50,084
51,001
56,068
42,956
52,869
56,791
50,670
42,753
62,058
89,103
84,594
82,070
82,463
64,325
Sales/Revenue/Turnover
3.03
4.53
0.25
1.58
0.17
0.27
-1.38
3.97
1.31
-0.48
1.51
5.15
0.97
0.63
1.77
0.14
1.89
Operating Margin (%)
199
192
225
193
207
172
176
150
177
179
227
184
180
220
238
382
- -
Depreciation Expense
646
1,251
-37
410
98
103
-389
1,037
463
-231
378
1,354
547
170
533
-203
412
Net Income, GAAP
44.82
44.43
242.67
39.4
43.01
44.83
- -
38.21
31.84
- -
32.63
35.41
35.3
34.54
43.67
- -
44.31
Effective Tax Rate (%)
1.34
2.33
-0.08
0.82
0.19
0.18
-0.91
1.96
0.82
-0.46
0.88
2.18
0.61
0.2
0.65
-0.25
0.64
Profit Margin (%)
3,076
5,949
5,449
5,843
5,429
5,449
5,317
6,774
7,394
6,231
6,576
8,169
8,527
8,083
8,521
8,883
- -
Working Capital
1,439
1,882
1,519
1,861
1,349
1,421
1,567
1,979
2,279
1,900
1,936
2,388
2,418
2,071
2,108
3,983
- -
LT Debt
4,735
7,197
6,901
7,233
7,241
7,200
6,607
7,739
7,977
7,340
7,546
8,681
9,219
9,097
9,483
9,218
- -
Total Equity
- -
9.61
-1.25
3.79
0.34
0.57
- -
9.23
3.26
- -
2.82
11.47
2.55
1.56
3.67
- -
3.85
Return on Invested Capital (%)
- -
10.04
-1.15
3.89
1.04
1.04
- -
8.34
3.58
- -
2.87
8.31
3.03
1.18
2.79
- -
2.19
Return on Capital (%)
- -
22.75
-0.62
6.65
1.51
1.6
-6.34
16.31
6.63
-3.34
5.59
18.25
6.72
2.07
6.42
-2.48
5.4
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
May'24
Aug'24
Feb'25
ST Debt
12,743
10,681
13,313
LT Borrowings
1,561
2,108
1,592
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
14
14
14
Market Capitalization
9,945
8,887
- -

Working Capital

FRC

•

in mil. unless spec.
May'24
Aug'24
Feb'25
Total Current Assets
26,241
23,421
- -
Cash, Cash Equivalents & STI
1,451
1,535
5,605
Accounts Receivable, Net
7,922
10,156
- -
Inventories
11,847
5,777
4,832
Total Current Liabilities
18,254
14,901
- -
Payables & Accruals
- -
- -
- -
ST Debt
12,743
10,681
13,313
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.82%
4.27%
-2.79%
Free Cash Flow
-97.18%
-94%
187.9%
Net Income, GAAP
-110.99%
40.8%
-138.14%
Sales/Revenue/Turnover
6.19%
16.24%
0.48%
Total Cash Common Dividend
14%
6.19%
0.03%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
17,745
17,663
22,352
24,310
82,070
2025
- -
- -
- -
- -
82,463
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8.55
- -
- -
- -
- -
2025
- -
- -
- -
- -
-14.37
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
19.99
2026
- -
- -
- -
- -
- -
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Business
MERF Inc. (3168.T) engages in the collection, processing, manufacture, and sale of non-ferrous metals and artistic crafts. The company operates through two primary segments: Nonferrous Metals, which encompasses metal recycling through effective utilization of global metal resources, production and sale of copper alloy ingots used in marine propellers, plumbing hardware, valves, industrial machinery parts, electrical wires, and semiconductor base plates, as well as aluminum alloy ingots and processing of recycled copper and aluminum materials; and Arts and Crafts, which involves casting and sale of fine arts works, Buddhist statues, ritual articles, and large metal structures. It also sells non-ferrous metals and copper alloy fabricated products. MERF Inc. maintains operations in Japan, Korea, rest of Asia, Europe, and internationally, with subsidiaries including KUROTANI NORTH AMERICA INC. in the United States and THAI KUROTANI CO., LTD. in Thailand. The company targets industrial manufacturers, shipbuilders such as Nakashima Propeller Co., Ltd. and Hyundai Heavy Industries Co., Ltd., and metal processors including Mitsubishi Materials Corporation and Sumitomo Metal Mining Co., Ltd.. Founded in 1870 and headquartered in Imizu-city, Toyama Prefecture, Japan, MERF Inc. employs approximately 130 people and holds certifications such as ISO9001, ISO14001, and ISO45001. In January 2025, the company changed its name from Kurotani Corporation to MERF Inc.. On the same month, its U.S. subsidiary, through newly formed CMX Metals, acquired the business of California Metal-X, a copper alloy ingot manufacturer with electric arc furnaces and recycling capabilities, to expand manufacturing and sales in North America, complement overseas ingot sales, and advance product development as part of its global growth strategy. This move shifts focus from Southeast Asia toward North American business development amid U.S. trends in domestic manufacturing.