Risk from competing products, including lithium-ion batteries, for NAS batteries
First written in FY2023. 2 of 5 entries say "Materialised", first in FY2026-H1. Latest entry: FY2026.
Ngk moved to the "Worse" side of this theme in 2025, the same year as the typical company in this theme.
The whole theme swung hardest in 2025: 16 of 47 companies on the "Worse" side.
13 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「The assumptions underlying the relevant costs or losses may change as a result of changes in laws and regulations applicable to the use of NAS® batteries, changes in customers’ usage conditions or requests concerning the provision of the relevant services, and other changes in the economic environment.」
In response to delays in the development of the NAS battery market, soaring materials costs, and intensifying competition with lithium-ion batteries, the company has ended manufacturing and sales activities and recognized business restructuring costs. - FY2026-H1MaterialisedAnnual report
「The company expects that it will still take time for sustained market demand to develop for the long-duration, high-capacity storage that is a feature of NAS® batteries. In addition, in light of multiple factors, including the recent sharp rise in materials costs and intensifying competition with lithium-ion batteries, the company determined that stable operations and the securing of earnings would be difficult in the future.」
For NAS® batteries, delays in the launch of the long-duration applications market and intensifying competition with lithium-ion batteries led to the determination that stable future operations and earnings would be difficult to secure, as well as to the termination of the business. - FY2025WorsenedAnnual report
「Short-duration applications currently dominate the grid-scale battery storage market, and lithium-ion batteries are expanding their market share. If the launch of the long-duration applications market, for which NAS® batteries are suited, is delayed beyond expectations, this may hinder the securing of stable demand.」
For NAS batteries, lithium-ion batteries are the mainstream technology for short-duration applications and are expanding their market share, while delays in the launch of the long-duration applications market have been identified as a risk to stable demand. - FY2024RestatedAnnual report
「However, if technological innovation in competing products such as lithium-ion batteries causes the advantages of NAS® batteries to be lost, it may adversely affect the Group’s business performance and financial position.」
The company continues to disclose the risk that NAS batteries will lose their competitive advantages as a result of technological innovation in competing products such as lithium-ion batteries. - FY2023First statedAnnual report
「However, if competing products such as lithium-ion batteries become more widely adopted as a result of technological innovation, they may adversely affect the Group’s business performance and financial position.」
In addition to the opportunity for growth in demand for NAS batteries, the company has explicitly identified technological innovation and broader adoption of competing products such as lithium-ion batteries as risks.