October 2026
Largest Metals & Mining Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Nippon Steel, Mitsui Kinzoku Co, Kobe Steel, Mitsubishi Materials and MERF.
 | Nippon Steel Corp is mainly engaged in the steel manufacturing business, engineering business, chemical & material business, and system solution business. The company operates through four business segments. The Chemicals & Materials segment manufactures and sells coal chemicals, petrochemicals, electronic materials, semiconductors, carbon fibers, composites, and processed metal products. The Engineering segment handles industrial machinery, steel structures, construction contracting, waste disposal, recycling, and energy supply. The Steel segment focuses on the production and sale of steel products. The System Solutions segment provides IT consulting, outsourcing, and related services. It generates the majority of its revenue from the Steel segment. | $4 | -1% | $21B | $56B | 0.9x | 10.8x | ||
| Mitsui Kinzoku Co Ltd is a Japanese company. The company is engaged in the manufacturing and sales of functional materials and electronic materials, non-ferrous metal smelting, resource development, precious metal recycling, materials-related businesses, manufacturing and sales of automotive parts, and others. The company operates in segments, namely, Engineered Materials, Metals, Business creation, Business evaluation, and other businesses. | $15 | -- | $8.5B | $8.9B | 1.9x | 9.5x | ||
| Kobe Steel Ltd engages in the manufacture, production, and sale of iron and steel. The company operates through seven segments. The Construction Machinery segment offers excavators, cranes, loaders, and workboats. Electric Power supplies electricity through group companies. Engineering handles plants for steel, petrochemicals, nuclear, water, and waste treatment, along with civil engineering and transport systems. Machinery provides compressors, engines, refrigeration, heat pumps, chemical and rubber machinery, and specialty materials. Materials include steel, aluminum, titanium, copper, and forged products. Steel & Aluminum delivers rolled products, plates, wires, and special steels, while Welding covers electrodes, flux, robots, power sources, and related services. | $13 | +8% | $5B | $9B | 0.6x | 5.6x | ||
| Mitsubishi Materials Corp is a Japan-based company engaged in the production of processed copper products, electronic materials, and cemented carbide products, as well as the smelting and sale of metals such as copper, gold, silver, and palladium. The company operates through four segments. The Highly Functional Products segment includes processed copper products and electronic materials. The Metal segment is engaged in the smelting and refining of non-ferrous metals, including copper, gold, silver, lead, tin, and palladium, as well as the recycling of home appliances. The Processing segment covers carbide products, while the Renewable Energy segment focuses on renewable energy operations. The Other segment includes cement-related and engineering-related businesses. | $29 | +53% | $3.8B | $7.3B | 0.6x | 9.8x | ||
| MERF Inc is engaged in recycling non-ferrous metals, focusing on copper and copper alloys. Its business activities are divided into two main segments: the Ingot Business, which involves the manufacturing of copper alloy ingots, and the Metal Recycling Raw Materials Business, which is engaged in metal recycling. It is also involved in the manufacturing and selling of art and craft products segment. | $7 | +82% | $93M | $159M | 0.3x | 79.8x | ||
| Median | $13 | +30% | $5B | $8.9B | 0.6x | 9.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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