Fluctuations in Crude Oil and Raw Material Prices and Supply Risks
First written in FY2016. 20 of 34 entries say "Restated". Latest entry: 2026-08-07.
Nichireki Group 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: 40 of 57 companies on the "Worse" side.
17 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「Although some signs of easing have emerged in geopolitical risks, including conflicts in Ukraine and the Middle East and tensions between the United States and China, they have not been resolved, and the situation continues to require close attention to trends in crude oil prices and foreign exchange rates.」
While noting some signs of easing in geopolitical risks, it continues to monitor crude oil prices and foreign exchange rates because the conflicts and tensions between the United States and China have not been resolved. - FY2025MitigatedAnnual report
「The Group has established a system under which the Production Planning Department monitors raw material procurement risks as needed and reports raw material procurement trends each month to the Management Strategy Meeting, which consists of executive directors and determines policy. This enables the Group to promptly promote procurement measures and pass costs through to product selling prices, while working to minimize the impact.」
The Group continues to recognize crude oil and raw material price and supply risks, while specifying a response framework involving procurement monitoring, monthly reporting to the Management Strategy Meeting, and price pass-through. - FY2025-H1WorsenedAnnual report
「In addition to rising prices and fluctuations in financial and capital markets, growing concern about geopolitical risks, including the prolonged situation in Ukraine and heightened tensions in the Middle East, means that trends in crude oil prices and foreign exchange rates will continue to require close attention.」
In addition to concern about persistently high raw material prices, rising prices, and foreign exchange fluctuations, geopolitical risks, including the prolonged situation in Ukraine and heightened tensions in the Middle East, are explicitly identified, broadening the range of risk factors. - FY2024-Q3RestatedAnnual report
「The business environment surrounding the Group was characterized by steady public investment, supported by rising construction demand driven by disaster preparedness and mitigation and measures to strengthen national resilience. However, raw material prices have remained high due to rising labor costs, yen depreciation, and other factors, and the impact of the 2024 problem in construction and logistics is expected to become increasingly apparent. The need to monitor changes in the business environment will therefore continue.」
It continues to describe persistently high raw material prices due to rising labor costs, high prices, yen depreciation, and other factors. - FY2024-Q2RestatedAnnual report
「The business environment surrounding the Group was characterized by steady public investment, supported by rising construction demand driven by disaster preparedness and mitigation and measures to strengthen national resilience. However, high prices caused by rising labor costs and other factors, along with persistently high raw material prices due to the continued depreciation of the yen, mean that trends in crude oil prices and foreign exchange rates will continue to require close attention.」
It reconfirms that raw material prices remain high due to the continued depreciation of the yen and other factors, and that trends in crude oil prices and foreign exchange rates continue to require close attention. - FY2024-Q1RestatedAnnual report
「Raw material prices remain at high levels due in part to the continued depreciation of the yen, and the situation will continue to require close attention to trends in crude oil prices and foreign exchange rates.」
It reconfirms that raw material prices remain at high levels and that trends in crude oil prices and foreign exchange rates continue to require close attention. - FY2023WorsenedAnnual report
「Raw material prices fluctuated sharply at high levels, making it difficult to secure net sales and profit as planned. As of the end of the fiscal year under review, the situation continued to require close attention to trends in crude oil prices and foreign exchange rates, which affect performance.」
Sharp fluctuations in raw material prices at high levels have emerged in the actual performance environment as a factor making it difficult to secure net sales and profit as planned. - FY2023-Q3RestatedAnnual report
「Public investment remained steady, supported by rising construction demand driven by disaster preparedness and mitigation and measures to strengthen national resilience, but the need to closely monitor trends in crude oil prices and foreign exchange rates, which have a significant impact on performance, continued.」
It continues to recognize trends in crude oil prices and foreign exchange rates as risks that could weigh on performance. - FY2023-Q2RestatedAnnual report
「Public investment remained steady, supported by rising construction demand driven by disaster preparedness and mitigation and measures to strengthen national resilience, but the need to closely monitor factors that could weigh on performance, including surging crude oil prices and yen depreciation, continued.」
It continues to recognize surging crude oil prices and yen depreciation as factors weighing on performance. - FY2023-Q1WorsenedAnnual report
「However, the economy continued to lack strength due to growing concern about negative factors, including further increases in food and raw material prices and supply constraints for parts and materials, amid the continued turmoil surrounding Ukraine and the suppression of economic activity under China's zero-COVID policy, as well as the impact of monetary tightening in Europe and the United States. The business environment surrounding the Group was characterized by steady public investment, supported by rising construction demand driven by disaster preparedness and mitigation and measures to strengthen national resilience, while the need to monitor factors weighing on performance, including surging crude oil prices and yen depreciation, continued.」
It states that concern about further increases in raw material prices and supply constraints for parts and materials has grown, while surging crude oil prices and yen depreciation remain ongoing factors weighing on performance. - FY2022WorsenedAnnual report
「The business environment surrounding the Group is characterized by expectations for continued high levels of public investment in disaster preparedness and mitigation and national resilience measures, while surging raw material prices due to rising crude oil prices and yen depreciation, as well as constraints on the procurement of materials and other items due to semiconductor shortages, are also expected.」
In addition to raw material price risks from surging crude oil prices and yen depreciation, constraints on material procurement due to semiconductor shortages and other factors are newly identified, broadening the supply-side exposure. - FY2022-Q3RestatedAnnual report
「While high levels of public investment are expected, supported by rising construction demand driven by disaster preparedness and mitigation and measures to strengthen national resilience, factors that could weigh on performance, including continued crude oil price inflation, still require close attention.」
It continues to recognize surging crude oil prices and other factors as weighing on performance. - FY2022-Q2RestatedAnnual report
「The situation continues to require close attention to factors weighing on performance, including surging crude oil prices.」
It continues to recognize surging crude oil prices and other factors as weighing on performance. - FY2022-Q1RestatedAnnual report
「The business environment surrounding the Group is characterized by rising construction demand driven by disaster preparedness and mitigation and measures to strengthen national resilience, while factors that could weigh on performance, including surging crude oil prices, also require close attention.」
The Group continues to recognize surging crude oil prices as a factor weighing on performance and also describes responses to surging raw material prices in the asphalt processed products business. - FY2021WorsenedAnnual report
「Public works remained firm, but the situation remained challenging as competition for orders continued to intensify while crude oil prices began to rise after bottoming out.」
Instead of the previous wording about responding to crude oil price fluctuations, it states that crude oil prices are rising after bottoming out, indicating an upside risk. - FY2021-Q2RestatedAnnual report
「The business environment surrounding the Group remained challenging, despite firm public investment, owing to intensified competition for orders and the need to respond to fluctuations in crude oil prices.」
It continues to describe responding to crude oil price fluctuations, alongside intensified competition for orders, as part of the challenging business environment. - FY2021-Q1RestatedAnnual report
「The business environment surrounding the Group remained challenging, despite steady public investment, owing to intensified competition for orders and the need to respond to fluctuations in crude oil prices.」
The Group continues to recognize crude oil price fluctuation risk and is taking steps to address it. There is no statement that the crude oil swap hedging policy presented in the previous fiscal year has changed. - FY2020MitigatedAnnual report
「Hedging instrument: crude oil swaps; hedged item: forecast transaction related to purchases of straight-run asphalt」
The Group continues to recognize the risks from crude oil and raw material price fluctuations, while specifically implementing hedges within the scope of actual demand through crude oil swaps. - FY2020-Q2SoftenedAnnual report
「The business environment surrounding the Group remained challenging, despite public investment becoming increasingly firm, due to fluctuations in raw material prices, including crude oil prices, and intensifying competition for orders.」
The wording changed from “fluctuations in raw material prices, including surging crude oil prices” to “fluctuations in raw material prices, beginning with crude oil prices,” removing the explicit reference to “surging” prices. - FY2020-Q1RestatedAnnual report
「The business environment surrounding the Group remained challenging, despite public investment remaining firm, due to fluctuations in raw material prices, including soaring crude oil prices, and intensifying competition for orders.」
It continues to describe fluctuations in raw material prices, including surging crude oil prices, as a factor contributing to the challenging business environment. - FY2019RestatedAnnual report
「The business environment surrounding the Group remained challenging, despite public investment remaining firm, due to fluctuations in raw material prices, including soaring crude oil prices, and intensifying competition for orders.」
It continues to describe fluctuations in raw material prices, including surging crude oil prices, as a factor contributing to the challenging business environment. - FY2019-Q3WorsenedAnnual report
「In the asphalt processed products business, the Group promoted the design and solicitation of orders for its own products and construction methods and worked to reduce expenses. For the third quarter of the fiscal year under review, cumulative consolidated net sales were ¥13,993 million, up 8.7% year on year, but segment profit fell 11.5% year on year to ¥2,743 million because improvement in the cost ratio was delayed by higher raw material prices.」
The delay in improving the cost ratio due to higher raw material prices and the 11.5% year-on-year decline in segment profit in the asphalt processed products business are explicitly stated, making the impact of raw material price risk more concrete. - FY2019-Q2WorsenedAnnual report
「The business environment surrounding the Group remained challenging, despite steady public investment, owing to fluctuations in raw material prices, including surging crude oil prices, and intensified competition for orders. In the asphalt processed products business, the Group promoted the design and solicitation of orders for its own products and construction methods and worked to reduce expenses. For the second quarter of the fiscal year under review, cumulative consolidated net sales were ¥7,956 million, up 4.2% year on year, but segment profit fell 17.7% year on year to ¥1,406 million due to a deterioration in the cost ratio resulting from surging raw material prices.」
In addition to “fluctuations” in raw material prices, the disclosure explicitly cites “surging crude oil prices” and a deterioration in the cost ratio resulting from higher raw material prices. Segment profit in the asphalt processed products business also fell 17.7% year on year. - FY2019-Q1WorsenedAnnual report
「In the asphalt processed products business, the Group promoted the design and solicitation of orders for its own products and construction methods, while working to address surging raw material prices and reduce expenses.」
Across the overall business environment, the issue is described as material price “fluctuations,” while the business-specific description refers to “surging raw material prices,” indicating the specific severity of price increases. Countermeasures are also described. - FY2018-Q3RestatedAnnual report
「The business environment surrounding the Group remained challenging, despite public investment remaining firm, due to intensifying competition for orders and fluctuations in material prices.」
It again describes fluctuations in material prices, alongside intensified competition for orders, as an ongoing challenging business environment. - FY2018-Q2RestatedAnnual report
「The business environment surrounding the Group remained challenging, despite public investment becoming increasingly firm and performing steadily, due to intensifying competition for orders and fluctuations in material prices.」
It again describes fluctuations in material prices, alongside intensified competition for orders, as an ongoing challenging business environment. - FY2018-Q1RestatedAnnual report
「The business environment surrounding the Group remained challenging, despite public investment becoming increasingly firm, due to intensifying competition for orders and fluctuations in material prices.」
It again describes fluctuations in material prices, alongside intensified competition for orders, as an ongoing challenging business environment. - FY2017RestatedAnnual report
「The Group is highly dependent on crude oil prices because straight-run asphalt, its main product raw material, and auxiliary materials are derived from crude oil. If crude oil prices surge and the corresponding increases in various raw material prices cannot be passed on to product selling prices, or if various raw materials cannot be supplied reliably, the situation could affect performance.」
It continues to identify surging crude oil prices, an inability to pass through price increases, and an inability to ensure stable raw material supplies as risks. - FY2017-Q3RestatedAnnual report
「The business environment surrounding the Group remained challenging, as public works-related expenditures were flat year on year against the initial budget, while competition for orders intensified and raw material prices fluctuated.」
Raw material price fluctuations are again described, alongside intensified competition for orders, as an ongoing challenging business environment. - FY2017-Q2RestatedAnnual report
「The business environment surrounding the Group remained challenging, as public works-related expenditures in the initial budget for fiscal 2016 were flat year on year in the general account, while competition for orders intensified and raw material prices fluctuated.」
Raw material price fluctuations are again described, alongside intensified competition for orders, as an ongoing challenging business environment. - FY2017-Q1MitigatedAnnual report
「The Group promoted the design and solicitation of orders for its own products and construction methods, while taking steps to address fluctuations in raw material prices.」
It describes actions taken to address raw material price fluctuation risk as part of its business activities. - FY2016First statedAnnual report
「The Group is highly dependent on crude oil prices because straight-run asphalt, its main product raw material, and auxiliary materials are derived from crude oil. If crude oil prices surge and the corresponding increases in various raw material prices cannot be passed on to product selling prices, or if various raw materials cannot be supplied reliably, the situation could affect performance.」
It identifies surging crude oil prices, an inability to pass through price increases, and uncertainty over raw material supplies as risks.