Japan rare earth-related stock surges as China stages war games

Equities

Toyo Engineering hits 17-year high with extraction tech tapped for test mining

Toyo Engineering engages in marine infrastructure projects such as offshore drilling platforms. (Photo by Kai Fujii)

TAKASHI IKEDA

December 30, 2025 01:14 JST

TOKYO — Shares of Japan’s Toyo Engineering, which is developing offshore rare-earth extraction technology, surged to a 17-year high on Monday after China launched its largest-ever war games around Taiwan.