Japanese industrial waste management service provider Koei Group (KOEI.US) has applied to list in the United States and plans to raise $19 million.

Japanese industrial waste management services provider Koei Group submitted an application for listing to the U.S. Securities and Exchange Commission (SEC) on Monday, planning to raise up to $19 million through an initial public offering (IPO). The company plans to list on the Nasdaq under the stock code "KOEI". Koei Group's main business includes material recycling, IT asset disposal, and industrial waste management. The company operates mainly through its subsidiary Koei Japan, which is responsible for collecting, transporting, and processing discarded IT equipment and industrial waste, processing them at certified intermediate processing facilities in Yokohama and Kitakyushu, recycling ferrous and non-ferrous metals (mainly copper), as well as precious metals like gold, silver, and palladium. The company holds operating licenses in 46 of Japan's 47 prefectures and has obtained multiple related certifications. Koei Group has also expanded its international business by establishing subsidiaries in Singapore and Thailand, and acquiring a 51% stake in the U.S.-based engineering services company Koei US (formerly Nufika) headquartered in Texas, using it as a platform to enter the U.S. market. Over 95% of the company's revenue comes from the sale of recycled materials and refurbished IT assets. Data shows that the company achieved revenues of $48 million in the past 12 months ending on February 28, 2026.