Raw material cost risk from fluctuations in crude oil and naphtha prices
First written in FY2016. 17 of 35 entries say "Restated". Latest entry: 2026-11-13.
Koatsu Gas Kogyo moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 9 of 10 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- FY2026-H1Naphtha prices fell, but raw material prices remained highAnnual report
「The business environment surrounding the Chemicals business remained challenging. Although naphtha prices were trending gradually lower, raw material prices continued to remain high.」
While naphtha prices showed a gradual downward trend, raw material prices continued to remain high. - FY2025RestatedAnnual report
「The purchase price of naphtha, the raw material for the petroleum-based gases and chemicals manufactured and sold by the Group, is affected by fluctuations in crude oil prices. Crude oil prices are affected by supply and demand trends in the international crude oil market, but can fluctuate significantly depending on demand trends for petrochemical products, production volumes in crude oil-producing countries, and geopolitical risks in those countries and surrounding regions. Such price fluctuations may have a substantial impact on raw material purchase prices.」
The Company continued to describe supply and demand, production volumes in crude oil-producing countries and geopolitical risks as factors affecting crude oil and naphtha prices. - FY2024-Q3RestatedAnnual report
「The business environment surrounding the Chemicals business remained challenging, as the supply of raw materials had stabilised but raw material and energy prices continued to remain high.」
While the supply of raw materials had stabilised, the Company reconfirmed the continued cost risk from persistently high raw material and energy prices. - FY2024-Q2RestatedAnnual report
「The business environment surrounding the Chemicals business remained challenging, as the supply of raw materials had begun to stabilise but raw material and energy prices continued to remain high.」
While the supply of raw materials had begun to stabilise, the Company reconfirmed the continued cost risk from persistently high raw material and energy prices. - FY2024-Q1RestatedAnnual report
「The business environment surrounding the Chemicals business remained challenging, as the supply of raw materials had begun to stabilise but raw material prices remained high and energy costs continued to rise.」
The Company reconfirmed that raw material prices continued to remain high. It also stated that the supply of raw materials had begun to stabilise. - FY2023-Q3RestatedAnnual report
「The business environment surrounding the Gas business remained challenging, as demand from end-use markets including semiconductors, automobiles and construction failed to recover, while high raw material prices continued.」
The Company continued to describe the challenging business environment of unrecovered demand in end-use markets and continued high raw material prices. - FY2023-Q2RestatedAnnual report
「The business environment surrounding the Gas business remained challenging, as demand in end-use markets including semiconductors, automobiles and construction failed to recover, while high raw material prices continued.」
The Company continued to describe the challenging business environment of unrecovered demand in end-use markets and continued high raw material prices. The risk from fluctuations in raw material prices continued as an actual cost and business environment factor. 3 - FY2023-Q1RestatedAnnual report
「The business environment surrounding the Gas business remained challenging, as demand in some end-use markets, including automobiles and semiconductors, failed to recover, while high raw material prices and supply restrictions continued.」
The Company continued to describe the challenging business environment caused by continued high raw material prices and supply restrictions. - FY2022WorsenedAnnual report
「During the consolidated fiscal year, the Japanese economy remained uncertain because, in addition to stagnation in economic activity caused by the global spread of COVID-19, semiconductor shortages, higher raw material costs and surging resource prices resulting from heightened geopolitical risks stemming from the situation in Ukraine affected conditions.」
In addition to the existing fluctuations in crude oil and naphtha prices and tight supply, semiconductor shortages, higher raw material costs and surging resource prices related to the situation in Ukraine were described as actual business environment conditions. - FY2022-Q3MaterialisedAnnual report
「The business environment surrounding the Chemicals business remained challenging, with high raw material prices resulting from rising naphtha prices and continued supply shortages.」
Higher raw material prices resulting from rising naphtha prices and supply shortages continued as actual conditions in the Chemicals business environment in the third quarter as well. - FY2022-Q2MaterialisedAnnual report
「The business environment surrounding the Chemicals business remained challenging, with high raw material prices resulting from rising naphtha prices and continued supply shortages.」
Higher raw material prices resulting from rising naphtha prices and supply shortages continued as actual conditions in the Chemicals business environment. - FY2022-Q1MaterialisedAnnual report
「The business environment surrounding the Chemicals business remained challenging, with high raw material prices resulting from rising naphtha prices and continued supply shortages.」
The Company described continued increases in raw material prices resulting from higher naphtha prices, as well as raw material supply shortages, as actual conditions in the Chemicals business environment. - FY2021MaterialisedAnnual report
「The business environment surrounding the Chemicals business remained challenging. Although a recovery was seen in the second half, demand from major end-use customers declined substantially, while raw materials were affected by cold weather in North America and supply shortages caused by equipment problems at domestic and overseas manufacturers.」
For raw materials, supply shortages caused by cold weather in North America and equipment problems at domestic and overseas manufacturers actually occurred as part of the business environment. - FY2021-Q3MaterialisedAnnual report
「Revenue from Other Industrial Gases, etc. was below the same period of the previous year. Oxygen was affected by lower demand for on-site construction work; nitrogen and argon by lower demand from end-use customers; carbon dioxide by shipment adjustments by plant manufacturers and lower demand from the food industry; and petroleum-based gases, including LP gas, by lower demand and lower sales prices resulting from lower import prices.」
In addition to lower demand and shipment adjustments, lower sales prices for petroleum-based gases resulting from lower import prices continued to materialise as lower revenue. - FY2021-Q2MaterialisedAnnual report
「Revenue from Other Industrial Gases, etc. was below the same period of the previous year. Oxygen was affected by lower demand for on-site construction work; nitrogen and argon by lower demand from end-use customers; carbon dioxide by shipment adjustments by plant manufacturers and lower demand from the food industry; and petroleum-based gases, including LP gas, by lower demand and lower sales prices resulting from lower import prices.」
In addition to lower import prices passing through to lower sales prices and revenue from petroleum-based gases, lower demand and shipment adjustments for various gases actually materialised in the results. - FY2021-Q1MaterialisedAnnual report
「Revenue from Other Industrial Gases, etc. was below the same period of the previous year. Oxygen was affected by temporary suspensions of on-site construction work; nitrogen and argon by lower plant operating rates; carbon dioxide by shipment adjustments by plant manufacturers and lower demand from the food industry; and petroleum-based gases, including LP gas, by lower demand and lower sales prices resulting from lower import prices.」
In addition to lower import prices passing through to lower sales prices and revenue from petroleum-based gases, lower demand and shipment adjustments actually materialised as lower revenue from various gases. - FY2020WorsenedAnnual report
「For some imported industrial gases, supply restrictions and higher procurement costs have arisen because of tight international supply and demand. Higher prices and other factors may affect the Group's operating results and financial condition.」
In addition to the existing fluctuations in naphtha and crude oil prices, supply restrictions and higher procurement costs for imported industrial gases were specified as actual conditions. - FY2020-Q3RestatedAnnual report
「The business environment surrounding the Chemicals business remained challenging, although raw material prices had begun to stabilise, as some raw material prices continued to remain high.」
The stabilisation of raw material prices coexisted with persistently high prices for some raw materials, and the challenging environment surrounding the Chemicals business continued. - FY2020-Q2MaterialisedAnnual report
「Although argon, carbon dioxide and refrigerant gases in “Other Industrial Gases, etc.” increased through the acquisition of new demand customers, sales of petroleum-based gases, including LPG, declined due to lower selling prices reflecting lower import prices, and net sales fell below those of the same period of the previous year.」
Lower import prices actually materialised as lower revenue from petroleum-based gases year on year through lower sales prices. - FY2020-Q1MitigatedAnnual report
「The business environment surrounding the Chemicals business remained challenging, although raw material prices had begun to stabilise, as some raw material prices remained high.」
The Company added that raw material prices had begun to stabilise, while the challenging environment continued because some raw material prices remained high. - FY2019MaterialisedAnnual report
「The business environment surrounding the Chemicals business remained challenging, with high raw material prices resulting from higher naphtha prices and increased transportation-related costs.」
Higher raw material prices resulting from rising naphtha prices and higher transportation costs were described as the actual business environment for the Chemicals business during the fiscal year. - FY2019-Q3RestatedAnnual report
「The business environment surrounding the Chemicals business remained challenging, with high raw material prices resulting from higher naphtha prices and increased transportation costs.」
Higher raw material prices resulting from rising naphtha prices and higher transportation costs continued to be described as factors contributing to the challenging environment surrounding the Chemicals business. - FY2019-Q2WorsenedAnnual report
「The business environment surrounding the Chemicals business remained challenging, with high raw material prices resulting from higher naphtha prices and increased transportation costs.」
In addition to higher raw material prices resulting from rising naphtha prices, higher transportation costs were also specified, broadening the cost pressures on the Chemicals business. - FY2019-Q1MaterialisedAnnual report
「The business environment surrounding the Chemicals business remained challenging, with high raw material prices resulting from higher naphtha prices and other factors.」
The Company described the actual business environment in which higher raw material prices resulting from rising naphtha prices affected the profitability of the Chemicals business. - FY2018RestatedAnnual report
「Accordingly, political instability in crude oil-producing countries and elsewhere could cause significant fluctuations in international crude oil prices, and higher prices could affect the Group's operating results and other matters.」
For naphtha price risk, the Company identified political instability in crude oil-producing countries as a factor causing price fluctuations and continued to describe the potential impact of higher prices on operating results. - FY2018-Q3RestatedAnnual report
「Sales prices for petroleum-based gases, including LP gas, rose as import prices increased, and revenue exceeded the same period of the previous year.」
The Company continued to describe how fluctuations in import prices passed through sales prices to revenue, this time as price increases and increased revenue. - FY2018-Q2RestatedAnnual report
「Sales prices for petroleum-based gases, including LP gas, rose as import prices increased, and revenue exceeded the same period of the previous year.」
The Company described how fluctuations in import prices passed through sales prices to revenue, this time as price increases and increased revenue. - FY2018-Q1RestatedAnnual report
「Sales prices for petroleum-based gases, including LP gas, rose as import prices increased, and revenue exceeded the same period of the previous year.」
The Company continued to show how fluctuations in import prices passed through to sales prices, this time describing higher sales prices and increased revenue resulting from price increases. - FY2017-Q3RestatedAnnual report
「“Other Industrial Gases, etc.” increased as a result of acquiring new customers for nitrogen, carbon dioxide and specialty gases. However, sales of petroleum-based gases such as LPG declined as selling prices fell in line with lower import prices, and net sales were below the same period of the previous year.」
The Company continued to describe the situation in which lower import prices passed through to lower sales prices and revenue from petroleum-based gases. - FY2017-Q2RestatedAnnual report
「Sales prices for petroleum-based gases, including LP gas, declined following a decrease in import prices, and revenue was below the same period of the previous year.」
The Company continued to describe the situation in which lower import prices passed through to sales prices and revenue from petroleum-based gases. - FY2017-Q1MaterialisedAnnual report
「Sales prices for petroleum-based gases, including LP gas, declined following a decrease in import prices, and revenue was below the same period of the previous year.」
Fluctuations in import prices passed through to sales prices and materialised as lower revenue from petroleum-based gases. - FY2016First statedAnnual report
「Naphtha is the principal raw material for the petroleum-based gases and chemicals manufactured by the Group. Because raw material purchase prices are linked to the international crude oil market, substantial fluctuations in crude oil prices tend to affect raw material prices several months later.」
The Company described the risk that fluctuations in crude oil prices could affect the prices of naphtha and other raw materials several months later.