Fluctuations in Key Raw Material and Product Selling Prices

「Although prices of iron scrap, the principal raw material, fell below the previous year, they remained at a high level, surging sharply in the latter part of the second half.」

「In addition, steel inflows from China remained at a high level, and as a result steel selling prices continued to trend downward.」

「Earnings declined due to lower steel sales volumes and selling prices, as well as higher fixed costs and inventory effects.」

「The steel spread deteriorated due to falling steel selling prices and rising principal raw material prices, resulting in lower earnings.」

「In the steel business, scrap prices, the principal raw material, remained stable and fell year on year. However, lower steel selling prices, cost increases resulting from equipment problems, and inventory valuation differences resulted in lower revenue and earnings.」

「In the steel business, scrap prices, the principal raw material, remained weak and fell year on year. However, higher energy prices, cost increases resulting from equipment problems, and inventory valuation differences resulted in lower revenue and earnings.」

「In the steel business, although sales volumes declined and costs increased due to higher energy prices such as electricity and gas, the spread improved year on year because steel selling prices rose while scrap prices, the principal raw material, fell, resulting in lower revenue but higher earnings.」

「In the steel business, manufacturing costs increased as steel sales volumes declined and prices of principal raw materials such as scrap and steel billets and energy such as electricity and gas surged due to higher resource prices and the depreciation of the yen. However, the steel spread expanded as steel selling prices improved, resulting in higher revenue and earnings from the previous fiscal year.」

「In the steel business, steel sales volumes declined, while manufacturing costs increased due to higher resource prices and the depreciation of the yen, which drove up prices of principal raw materials such as scrap and steel billets and energy prices such as electricity and gas. However, the steel spread expanded as steel selling prices improved, resulting in higher revenue and earnings year on year.」

「Although steel sales volumes declined year on year, prices of scrap and steel billets, the principal raw materials, rose, and energy costs for electricity and gas increased, the substantial expansion in the steel spread resulting from improved steel selling prices led to higher revenue and earnings.」

「In the steel business, scrap and steel billet prices, the principal raw materials, rose in response to unstable overseas conditions. However, as the increases were increasingly passed through to steel selling prices, the steel spread improved from the same period of the previous year, resulting in higher revenue and earnings.」

「Although prices of principal and secondary raw materials such as scrap, steel billets, and ferroalloys rose and energy costs increased, the earnings benefits from higher sales volumes and selling prices and the diversification of iron source procurement outweighed these factors, resulting in higher earnings than in the previous fiscal year.」

「Although prices of principal and secondary raw materials such as scrap, steel billets, and ferroalloys rose and energy costs increased, earnings rose year on year due to higher steel sales volumes and selling prices.」

「Prices of scrap and steel billets, the principal raw materials, rose by even more, and the steel spread deteriorated from the same period of the previous year.」

「As overseas market prices rose, scrap and steel billet prices, the principal raw materials, increased by more than the amount of the steel selling price increases, resulting in a deterioration in the steel spread.」

「Domestic steel market prices have continued to rise against a backdrop of higher overseas market prices, particularly in China. Meanwhile, prices of principal raw materials such as scrap have also surged, raising concerns about deterioration in the steel spread.」

「Against this backdrop, scrap market prices, the raw material, surged toward the end of the year, making the operating environment extremely challenging.」

「Although scrap prices, the principal raw material, fell from the same period of the previous year, steel selling prices fell by even more, and the deterioration in profitability accompanying lower steel sales volumes was substantial, resulting in lower earnings year on year.」

「Although steel selling prices fell year on year, the steel spread improved because scrap prices, the principal raw material, also fell. However, earnings declined year on year due to the deterioration in profitability accompanying lower steel sales volumes, among other factors.」

「In terms of profitability, scrap prices, the main raw material, fell and the steel spread improved substantially. However, lower steel sales volumes and higher costs including materials and transportation costs left results broadly in line with the previous year.」

「In the steel business, steel selling prices rose from the same period of the previous year, but revenue declined due in part to lower steel sales volumes. In terms of earnings, although the steel spread improved substantially as scrap prices, the principal raw material, fell while steel selling prices rose year on year, earnings remained at approximately the same level as the previous year due to higher prices for supplies such as electrodes and refractories and increased energy and logistics costs.」

「Although the steel spread improved because steel selling prices rose year on year while scrap prices, the principal raw material, fell, profit declined year on year due to higher prices for supplies such as electrodes and refractories and increased energy and logistics costs.」

「In terms of earnings, ordinary profit was ¥5,168 million, a decrease of ¥867 million from the previous fiscal year, due to sharp increases in the prices of scrap and steel billets, the principal raw materials, and various supplies such as electrodes and refractories, as well as higher energy costs for electricity and gas, higher logistics costs, and the impact of typhoons on operations.」

「This was because, although steel selling prices rose from the same period of the previous year, prices of scrap and purchased steel billets, the principal raw materials, increased, as did supply and transportation costs, and typhoons adversely affected plant operations and shipments.」

「Operating profit for the cumulative first quarter decreased by ¥429 million from the same period of the previous year to ¥1,325 million, down 24.5%, while ordinary profit decreased by ¥459 million to ¥1,349 million, down 25.4%. This was because, although steel selling prices rose from the same period of the previous year, prices of scrap and purchased steel billets, the principal raw materials, as well as secondary raw materials and supplies such as ferroalloys and electrodes, increased, and transportation costs also rose.」

「Looking ahead, firm steel demand is expected, supported by the full-scale commencement of urban development-related construction, including redevelopment in central urban areas and construction of accommodation facilities, as well as continued strong automotive and machinery production. On the other hand, further cost increases are expected due to higher prices for principal raw materials, various supplies such as electrodes and refractories, and energy, as well as increased logistics costs resulting from labor shortages.」

「The business environment surrounding the Group saw steel sales volumes and selling prices rise, supported by the recovery in the construction industry, particularly public civil engineering projects, and continued strong production in the automotive and machinery manufacturing industries. At the same time, in addition to higher prices for principal raw materials such as scrap, price increases for secondary raw materials and supplies became increasingly pronounced.」

「The business environment surrounding the Group saw increases in steel sales volumes and selling prices, supported by the recovery in the construction industry and continued strong production in the automotive and machinery manufacturing industries. At the same time, prices of principal raw materials rose sharply, while price increases for secondary raw materials and supplies became increasingly pronounced.」

「During the cumulative first quarter, Japan's economy remained on a gradual recovery trend, with consumer spending recovering as corporate earnings and employment conditions improved. Meanwhile, the business environment surrounding the Group remained challenging, as prices of not only principal raw materials but also secondary raw materials and supplies were clearly rising, and the Group was working to raise steel selling prices.」

「The business environment surrounding the Group remained challenging. Steel demand was on an upward trend as the domestic economy gradually recovered, but prices of principal raw materials such as coking coal and steel scrap rose sharply.」

「Meanwhile, although steel demand was on an upward trend as the domestic economy gradually recovered, the business environment surrounding the Group remained challenging, with sharp increases in the prices of principal raw materials such as coking coal and steel scrap.」

「If international commodity prices for the principal raw materials change sharply, it may be difficult to promptly pass the resulting increase in manufacturing costs through to selling prices, which could affect the operating performance of the Group.」