Risk of fluctuations in demand from large industrial customers
First written in FY2016. 13 of 35 entries say "Materialised", first in FY2017-Q1. Latest entry: 2026-08-07.
Toho Acetylene moved to the "Worse" side of this theme in 2016, 4 years before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 77 of 99 companies on the "Worse" side.
13 other companies' latest entry also says "Other".
- 2026-08-07OtherResults
「窒素は工業用向け、炭酸は建設関連向け、水素は石英加工向け、アルゴンは自動車関連向けの出荷数量が増加、液化石油ガスは出荷数量は減少しましたが輸入価格の変動に伴い販売価格が上昇したことから売上高は増加しました。」
品目・用途別の出荷数量は、窒素、炭酸、水素、アルゴンで増加し、液化石油ガスでは出荷数量が減少する一方、販売価格上昇により売上高が増加した。 - FY2026Update on demand and sales trends following the loss of spot demand and price factorsAnnual report
「Oxygen and nitrogen shipments decreased as spot demand from the previous year disappeared. LPG shipments increased, but sales declined because sales prices fell in line with fluctuations in import prices. Sales in the equipment and materials-related business also declined because demand from the construction industry and other customers decreased.」
Spot demand from the previous year disappeared for oxygen and nitrogen, while LPG sales declined because of lower sales prices despite higher shipment volumes, updating the combination of demand- and price-related factors. - 2026-05-14OtherResults
「石油類は工業用向け、炭酸は自動車関連向け、水素は石英加工向けに需要が増加しました。一方で、酸素及び窒素は前年のスポット需要がなくなり減少、液化石油ガスは出荷数量が増加しましたが輸入価格の変動に伴い販売価格が下落したことから、売上高は減少しました。」
品目・用途別の需要および価格動向が更新され、増加と減少が併存している。 - FY2026-H1The number of products with declining demand increasedAnnual report
「Demand for petroleum products for industrial use increased, but shipment volumes of oxygen and nitrogen for industrial use declined. LPG shipment volumes for industrial use also declined, and sales decreased because sales prices fell in line with fluctuations in import prices.」
While industrial demand for petroleum products increased, industrial shipment volumes of oxygen and nitrogen and LPG shipment volumes for industrial use decreased, updating the trends by product. - FY2025-H1Updated product-level demand and shipment trendsAnnual report
「Shipment volumes of nitrogen to power plants and argon and petroleum products for industrial use decreased. However, sales and operating profit increased because oxygen shipments for industrial use remained strong and LPG sales prices rose in line with fluctuations in import prices.」
While shipment volumes of nitrogen to power plants and argon and petroleum products for industrial use decreased, strong industrial oxygen shipments and higher LPG sales prices resulted in higher sales and operating profit in the gas-related business. - FY2024-Q3RestatedAnnual report
「In this segment, sales prices for liquefied petroleum gas declined in line with fluctuations in import prices. However, sales of various high-pressure gases increased as price revisions reflecting higher procurement costs took effect, and shipment volumes of nitrogen for power plants increased, resulting in higher sales.」
The company continued to report diverging trends by product and application, with LPG sales prices declining while price revisions for high-pressure gases took hold and nitrogen shipments to power plants increased. - FY2024-Q2Updated demand and price trendsAnnual report
「Sales prices for liquefied petroleum gas declined in line with fluctuations in import prices. However, sales of various high-pressure gases increased as price revisions reflecting higher procurement costs took effect, and shipment volumes of nitrogen for power plants increased, resulting in higher sales.」
The decline in LPG sales prices, the implementation of price revisions for high-pressure gases, and the increase in nitrogen shipments to power plants occurred concurrently, updating demand and price trends by product and application. - FY2024-Q1Updated demand and price trendsAnnual report
「Sales prices for liquefied petroleum gas declined in line with fluctuations in import prices. However, sales of various high-pressure gases increased as price revisions reflecting higher procurement costs took effect, while shipment volumes of nitrogen for power plants and argon for automotive-related applications increased.」
While LPG sales prices declined in line with fluctuations in import prices, price revisions took hold for high-pressure gases, and shipment volumes of nitrogen and argon for specific applications increased, resulting in diverging trends by product and application. - FY2023RestatedAnnual report
「Demand for dissolved acetylene, oxygen and nitrogen decreased, but sales prices were revised in response to higher procurement costs. In addition, demand increased for argon for power plant construction and automotive-related applications, hydrogen for quartz processing, and food gases for the food-service industry following the easing of restrictions on activities. Sales of liquefied petroleum gas increased as a result of higher import prices.」
The divergence in industrial-gas demand, with some products seeing declining demand and others increasing due to application- and price-related factors, was also confirmed for the full year. - FY2023-Q3Updated the mix of products with declining and increasing demandAnnual report
「Although demand for dissolved acetylene, oxygen and nitrogen declined, revenue increased owing to revisions to selling prices in response to higher procurement costs, increased demand for argon for power plant construction, hydrogen for quartz processing and food-grade gases for the food-service industry following the easing of movement restrictions, and higher selling prices for liquefied petroleum gas and petroleum products reflecting higher import prices.」
While some products reported as experiencing increased demand in the previous quarter shifted to declining demand, demand continued to increase for argon, hydrogen and food gases, among others, updating the divergence by product and application. - FY2023-Q2Demand and price trends diverged by productAnnual report
「In this segment, demand for oxygen from electric-furnace and steelmaking customers decreased. On the other hand, demand for dissolved acetylene increased through price revisions despite sluggish demand for pressure welding; shipments of nitrogen increased because another company's plant was shut down for scheduled maintenance; and demand for argon for power plant construction and hydrogen for quartz processing increased. Demand for food gases for the food-service industry also increased following the easing of restrictions on activities. Sales of liquefied petroleum gas and petroleum products increased as a result of higher import prices.」
While demand for oxygen decreased and demand for dissolved acetylene for pressure welding remained sluggish, factors driving increases by product and application broadened, including price revisions, scheduled maintenance at another company's plant, and the easing of restrictions on activities. - FY2023-Q1Demand and price trends diverged by productAnnual report
「In this segment, demand for oxygen from electric-furnace and steelmaking customers decreased. On the other hand, demand for dissolved acetylene increased through price revisions despite sluggish demand for pressure welding, while demand for nitrogen for safety inspections, argon for power plant construction, and food gases for the food-service industry increased. Sales of liquefied petroleum gas and petroleum products increased as a result of higher import prices.」
While demand for oxygen decreased and demand for dissolved acetylene for pressure welding remained sluggish, demand for nitrogen, argon, food gases and other products increased, resulting in diverging trends by product and application. - FY2022RestatedAnnual report
「Demand for dissolved acetylene for pressure welding remained sluggish. Meanwhile, demand for oxygen from electric-furnace and steelmaking customers, nitrogen from electronics customers, and hydrogen from quartz-processing customers increased.」
The company continued to report diverging demand trends for industrial gases by product and application, with demand increasing for oxygen, nitrogen and hydrogen while remaining sluggish for dissolved acetylene. - FY2022-Q3Demand recovery continued and expanded to nitrogen and other productsAnnual report
「Demand for dissolved acetylene for pressure welding remained sluggish. Meanwhile, demand for oxygen from electric-furnace and steelmaking customers, nitrogen from electronics customers, and hydrogen from quartz-processing customers increased. Despite the impact of infectious diseases, shipments of food gases increased, supported by a recovery in consumer demand from the food-service industry. Sales of liquefied petroleum gas and petroleum products increased substantially as a result of higher import prices from the beginning of the period.」
While demand for dissolved acetylene for pressure welding remained sluggish, increases in demand or shipments were reported for oxygen, nitrogen, hydrogen and food gases, indicating a broadening recovery in demand across products. - FY2022-Q2Demand recovery spread to more productsAnnual report
「Demand for dissolved acetylene for pressure welding remained sluggish. Meanwhile, demand for oxygen from electric-furnace and steelmaking customers increased, as did demand for hydrogen from automotive-related and quartz-processing customers. Despite the impact of the spread of infectious diseases, shipments of food gases increased, supported by consumer demand from the food-service industry. Sales of liquefied petroleum gas and petroleum products increased as a result of higher import prices.」
Demand for dissolved acetylene for pressure welding remained sluggish, while demand or shipments of oxygen, hydrogen and food gases increased, and sales of liquefied petroleum gas and petroleum products also rose. The range of products for which a recovery or increase in demand was reported expanded from the previous quarter. - FY2022-Q1More products showing demand recoveryAnnual report
「In the division, demand for dissolved acetylene for pressure welding remained weak. Meanwhile, demand for oxygen for electric arc furnaces and iron and steel increased, shipments of food-grade gases increased as food-service consumption recovered despite the impact of infectious disease, and sales of liquefied petroleum gas and petroleum products increased due to the impact of higher import prices.」
While demand for dissolved acetylene for pressure welding remained weak, increases were reported for oxygen, food-grade gases, liquefied petroleum gas and petroleum products, reflecting demand recovery or higher prices. - FY2021-Q3Demand continued to decline, but food-grade gases showed signs of recoveryAnnual report
「In the division, demand for dissolved acetylene for pressure welding remained weak, while sales of oxygen for electric arc furnaces and iron and steel and nitrogen for semiconductors and electronics declined due to lower demand and other factors. Food-grade gas showed signs of recovery, but sales nevertheless declined as the spread of infectious disease reduced consumption in the food-service industry. Shipments of liquefied petroleum gas and petroleum products declined due to production adjustments by customers and other factors and the impact of lower import prices, resulting in lower sales.」
Demand and shipments continued to decline for industrial gases, food-grade gases, liquefied petroleum gas and petroleum products. Food-grade gases, however, also showed signs of recovery. - FY2021-Q2MaterialisedAnnual report
「In the division, demand for dissolved acetylene for pressure welding remained weak, while sales of oxygen for electric arc furnaces and iron and steel and nitrogen for semiconductors and electronics declined due to lower demand and other factors. Food-grade gas sales declined as the spread of infectious disease reduced consumption in the food-service industry. Shipments of liquefied petroleum gas and petroleum products declined due to production adjustments by customers and other factors and the impact of lower import prices, resulting in lower sales.」
In addition to lower demand for industrial gases, weaker food-service consumption due to infectious disease, production adjustments by customers and lower import prices resulted in lower sales in the gas-related business. Sales in the gas-related business declined 15.0% year on year. - FY2021-Q1MaterialisedAnnual report
「Food-grade gas sales declined as the spread of infectious disease reduced consumption in the food-service industry. Shipments of liquefied petroleum gas declined due to production adjustments by customers, while petroleum products were similarly affected by lower import prices, resulting in lower sales.」
Risks from fluctuations in demand for industrial gases and other products materialized as lower sales due to weaker food-service consumption amid the spread of infectious disease, production adjustments by customers and lower import prices. Sales in the gas-related business declined 18.2% year on year. - FY2020WorsenedAnnual report
「The domestic market for industrial gases manufactured and sold by the Group, including oxygen, nitrogen, argon and hydrogen, is approaching saturation as major industry players maintain an oligopoly. The Group’s main business base is concentrated in the Tohoku, Hokkaido and Kanto regions, where iron and steel, shipbuilding, semiconductor and automotive companies are major customers, but competition for sales share is intensifying, and industrial gas sales volumes may be significantly affected by demand trends. Liquefied petroleum gas is sold mainly for industrial and residential use in the Tohoku region, but residential demand is trending downward as all-electric homes become more widespread.」
In addition to the existing risk of fluctuations in demand from major industrial customers, the Group faces a saturated domestic market, intensifying competition for sales share and declining residential LPG demand due to the shift to all-electric homes. - FY2020-Q3RestatedAnnual report
「In the division, sales of dissolved acetylene increased after selling prices were reviewed, despite lower demand for pressure welding. Sales of nitrogen increased due to higher demand from semiconductors and electronics, and sales of argon increased due to the acquisition of construction projects and other factors. Meanwhile, sales of oxygen declined due to lower demand from electric arc furnaces and iron and steel, while sales of liquefied petroleum gas and petroleum products declined due to lower import prices and other factors.」
Demand and price trends continued to diverge by product and application, with declines in oxygen and other products, while sales of nitrogen, argon and other products increased. - FY2020-Q2MaterialisedAnnual report
「In the division, sales of dissolved acetylene increased after selling prices were reviewed, despite lower demand for pressure welding. Sales of nitrogen increased due to higher demand from semiconductors and electronics, sales of argon increased due to the acquisition of construction projects and other factors, and sales of food-grade gases increased due to higher demand from existing customers and other factors. Meanwhile, sales of oxygen declined due to lower demand from electric arc furnaces and iron and steel, while sales of liquefied petroleum gas and petroleum products declined due to lower import prices.」
Demand and price trends diverged by product, with declines in dissolved acetylene for pressure welding and oxygen for electric arc furnaces and iron and steel, while sales of nitrogen, argon and food-grade gases increased. - FY2020-Q1Divergence between products with declining and increasing demandAnnual report
「Sales in the gas-related business increased by ¥44 million, or 1.0%, year on year to ¥4,547 million, while operating profit decreased by ¥26 million, or 7.0%, to ¥350 million. In the division, sales of oxygen declined due to lower demand from electric arc furnaces and the iron and steel industry. Sales of dissolved acetylene declined due to lower demand for pressure welding but increased following a review of selling prices. Sales of food-grade gases increased due to higher demand from existing customers, and sales of liquefied petroleum gas increased as demand remained firm.」
While demand declined for oxygen and dissolved acetylene for pressure welding, sales of food-grade gases and liquefied petroleum gas increased, resulting in divergent demand trends by product and application. Overall, sales in the gas-related business increased by 1.0%, while operating profit declined by 7.0%. - FY2019MaterialisedAnnual report
「Sales of separated gases, the gas-related business’s main products, declined to the Group’s major customers in iron and steel, shipbuilding, construction machinery, semiconductors and automotive industries. Liquefied petroleum gas sales declined due to persistently high import prices and lower consumption resulting from the mild winter.」
The decline in sales of separated gases to major customers and the decline in LPG sales due to the mild winter and persistently high import prices were reflected in full-year results. - FY2019-Q3MaterialisedAnnual report
「In the division, sales declined because demand for dissolved acetylene for public works fell and selling prices for oxygen for electric arc furnaces and iron and steel and nitrogen for semiconductors and electronics declined. Meanwhile, sales of liquefied petroleum gas and petroleum products increased due to the impact of higher import prices, and sales of food-grade gases increased due to higher demand from existing customers and other factors.」
While demand for dissolved acetylene for public works continued to decline and selling prices for oxygen for electric arc furnaces and iron and steel and nitrogen for semiconductors and electronics continued to fall, sales of liquefied petroleum gas, petroleum products and food-grade gases increased, resulting in divergent demand and price trends by product. - FY2019-Q2MaterialisedAnnual report
「In the division, sales declined because demand for dissolved acetylene for public works fell and selling prices for oxygen for electric arc furnaces and iron and steel and nitrogen for semiconductors and electronics declined. Meanwhile, sales of liquefied petroleum gas and petroleum products increased due to the impact of higher import prices, and sales of food-grade gases increased due to higher demand from existing customers and other factors.」
Demand for dissolved acetylene for public works actually declined, and selling prices for oxygen for electric arc furnaces and iron and steel and nitrogen for semiconductors and electronics actually fell. Demand and price trends continued to diverge by product. - FY2019-Q1MaterialisedAnnual report
「In the division, sales declined because demand for dissolved acetylene for public works fell, while selling prices for oxygen for electric arc furnaces and iron and steel and nitrogen for semiconductors and electronics declined. Meanwhile, demand for liquefied petroleum gas and petroleum products remained firm, and sales of food-grade gases increased due to higher demand from existing customers.」
Demand for dissolved acetylene for public works actually declined, while demand for liquefied petroleum gas and petroleum products remained firm and demand from existing customers for food-grade gases increased, resulting in divergent demand trends. - FY2018-Q3MaterialisedAnnual report
「In the gas-related business, demand for dissolved acetylene for public works, oxygen for medical use and hydrogen for quartz processing declined, while demand for nitrogen for semiconductors and electronics increased. Sales of liquefied petroleum gas and petroleum products increased due to higher selling prices and other factors associated with rising import prices.」
Demand for dissolved acetylene for public works, medical oxygen and hydrogen for quartz processing declined, while demand for nitrogen for semiconductors and electronics increased, resulting in divergent demand trends by product. - FY2018-Q2MaterialisedAnnual report
「In the gas-related business, demand for dissolved acetylene for public works and hydrogen for quartz processing declined, while demand for nitrogen for semiconductors and electronics increased. Sales of liquefied petroleum gas and petroleum products increased due to higher selling prices and other factors associated with rising import prices.」
Demand for dissolved acetylene for public works and hydrogen for quartz processing declined, while demand for nitrogen for semiconductors and electronics and other products increased, resulting in continued divergence in demand by product. - FY2018-Q1Diverging demand trendsAnnual report
「In the gas-related business, demand for dissolved acetylene for public works remained weak, while demand for oxygen for electric arc furnaces and iron and steel and nitrogen for semiconductors and electronics increased. Sales of liquefied petroleum gas also increased due to higher demand and higher import prices.」
While demand for dissolved acetylene for public works remained weak, demand for oxygen, nitrogen and liquefied petroleum gas increased, resulting in divergent demand trends by product and application. - FY2017MaterialisedAnnual report
「In the gas-related business, demand for dissolved acetylene for public works, oxygen for electric arc furnaces and iron and steel, and nitrogen for semiconductors and electronics declined. Demand for argon also declined following the completion of a large-scale construction project. Demand for liquefied petroleum gas and petroleum products increased due to cold winter weather, but sales declined because of the impact of lower selling prices resulting from lower import prices.」
Demand continued to decline in the main industrial gas markets, and a large-scale construction project involving argon was completed. Demand for LPG increased, but selling prices declined as import prices fell. - FY2017-Q3MaterialisedAnnual report
「In the gas-related business, demand for dissolved acetylene for public works, oxygen for electric arc furnaces and iron and steel, and nitrogen for semiconductors and electronics declined. Demand for argon also declined following the completion of a large-scale construction project, while sales of liquefied petroleum gas and petroleum products declined due to the impact of lower import prices.」
In addition to demand declines in public works, electric arc furnaces and iron and steel, and semiconductors and electronics, demand for argon declined following the completion of a large-scale construction project, resulting in a 4.3% year-on-year decrease in sales in the gas-related business. - FY2017-Q2MaterialisedAnnual report
「In the gas-related business, demand for dissolved acetylene for public works, oxygen for electric arc furnaces and iron and steel, and nitrogen for semiconductors and electronics declined, while sales of liquefied petroleum gas and petroleum products declined due to the impact of lower import prices.」
Demand declined for public works, electric arc furnaces and iron and steel, and semiconductors and electronics during the cumulative period of the current fiscal year, resulting in a 7.0% year-on-year decrease in sales in the gas-related business. - FY2017-Q1MaterialisedAnnual report
「Demand for dissolved acetylene for public works, oxygen for iron and steel and shipbuilding, and nitrogen for semiconductors and electronics declined, while sales of liquefied petroleum gas and petroleum products declined due to the impact of lower import prices.」
Demand declined for public works, iron and steel and shipbuilding, and semiconductors and electronics, resulting in a 9.0% year-on-year decrease in sales in the gas-related business. - FY2016First statedAnnual report
「The Group’s industrial gases, including oxygen, nitrogen, argon and hydrogen, are manufactured and sold primarily to major customers in the iron and steel, shipbuilding, semiconductor and automotive industries. Accordingly, sales of industrial gases may be affected by demand trends in these industries.」
Identifies demand trends in iron and steel, shipbuilding, semiconductor and automotive industries as drivers of fluctuations in industrial gas sales.