Koei is a Japanese holding company specializing in material recycling and IT Asset Disposition (ITAD). The company collects end-of-life technology equipment, office machinery, and industrial waste to extract and resell precious metals. Material recycling is the primary revenue driver. Koei sources scrap from manufacturers and IT firms to produce copper, gold, silver, and aluminum for sale to smelters and refiners. Through its ITAD business, Koei provides secure decommissioning services for corporate and government clients, including certified data erasure and physical destruction of hardware. This business also refurbishes and resells decommissioned data center servers and PCs, which generates higher margins than commodity metal sales. Koei also operates an industrial waste management segment that handles regulated waste collection and treatment across 46 of Japan's 47 prefectures. The business model relies on the spread between the cost of sourcing scrap and the market price of recovered materials or refurbished devices. While primarily focused on Japan, Koei is expanding into Southeast Asia and North America. The company operates a B2B model, serving large enterprises, public-sector entities, and data center operators. Its strategy focuses on leveraging vertically integrated processing infrastructure and a broad licensing footprint to provide a single-vendor solution for decommissioning and recycling needs.