Securing Stable Earnings Through Businesses Less Affected by Market Conditions
First written in FY2016. 18 of 32 entries say "Worsened", first in FY2019-Q3. Latest entry: FY2026.
Toho Zinc moved to the "Worse" side of this theme in 2019, 6 years before the typical company in this theme (2025).
2 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「As for earnings, ordinary profit declined 60% year on year due to lower domestic selling prices for zinc oxide and the impact of a fire that occurred in September this year, among other factors.」
Ordinary profit in the Environment and Recycling business, a relatively stable source of earnings less exposed to market conditions, declined 45% from the previous fiscal year, indicating deterioration in its status as a stable earnings source. - 2026-05-14WorsenedRevision of earnings forecasts
「In terms of profit and loss, manufacturing costs increased due in part to the impact of the fire accident described above, and ordinary profit declined by ¥749 million, or 45%, year on year to ¥920 million.」
Ordinary profit in the environmental and recycling business declined 45% year on year due in part to the impact of the fire accident, indicating deterioration in stable earnings. - FY2026-H1WorsenedAnnual report
「As for earnings, ordinary profit declined 60% year on year due to lower domestic selling prices for zinc oxide and the impact of a fire that occurred in September this year, among other factors.」
Revenue in the Environment and Recycling business increased, while ordinary profit declined 60% year on year due to lower zinc oxide prices and the fire. - FY2025AdvancedAnnual report
「Profit increased in both the Environment and Recycling business and the Electronic Components and Functional Materials business.」
In businesses relatively less exposed to market conditions or positioned further downstream, ordinary profit was ¥1,669 million in the Environment and Recycling business and ¥478 million in the Electronic Components and Functional Materials business, indicating progress in earnings. - FY2025-H1AdvancedAnnual report
「This business segment reported a 20% increase in revenue and a 731% increase in ordinary profit year on year.」
Ordinary profit in the Environment and Recycling business increased from ¥102 million in the same period of the previous year to ¥848 million, indicating a recovery in earnings generated by a business less exposed to market conditions on a half-year basis. - FY2024WorsenedAnnual report
「The Environment and Recycling business reported a ¥900 million decline in profit from the previous fiscal year, partly due to lower zinc prices.」
The Environment and Recycling business, considered relatively less exposed to market conditions, also reported lower profit, weakening its position as a stable source of earnings. - FY2024-Q3WorsenedAnnual report
「Although sales volume of zinc oxide, the main product primarily used as a raw material for tire manufacturing, increased, lower zinc prices resulted in lower profit. As a result, this business segment reported lower revenue and lower profit year on year.」
Despite higher sales volume, the Environment and Recycling business reported lower revenue and lower profit due to lower zinc prices, with ordinary profit falling ¥820 million year on year to ¥299 million. - FY2024-Q2WorsenedAnnual report
「Sales volume of zinc oxide, the main product primarily used as a raw material for tire manufacturing, increased, but lower zinc prices resulted in lower profit. In addition, partly due to higher energy costs and input prices, this business segment reported lower profit year on year.」
Despite higher sales volume, ordinary profit in the Environment and Recycling business fell 89% from ¥921 million to ¥102 million due to lower zinc prices, higher electricity and input costs, and the impact of reduced production. - FY2024-Q1WorsenedAnnual report
「However, partly due to higher energy costs and input prices, this business segment reported lower profit year on year, despite revenue being roughly unchanged from the previous fiscal year.」
Revenue in the Environment and Recycling business was roughly unchanged year on year, while ordinary profit declined from ¥516 million to ¥123 million due to higher energy costs and input prices. - FY2023WorsenedAnnual report
「Meanwhile, operating profit was ¥1.462 billion, almost unchanged from the previous period, as higher electricity rates and other materials prices had a significant impact.」
Revenue in the environmental and recycling business increased 30%, while operating profit declined 1% from the previous period, as higher costs restrained profit growth in the business less exposed to market conditions. - FY2023-Q3WorsenedAnnual report
「Although sales of the main products declined, revenue increased year on year due to higher zinc prices and a weaker yen. However, profit declined due partly to the impact of higher costs, including higher materials and energy costs.」
Revenue in the environmental and recycling business increased 18%, while operating profit declined 14%. Higher costs weakened stable earnings from businesses less exposed to market conditions to some extent. - FY2023-Q2WorsenedAnnual report
「Although sales of the main products declined, revenue increased year on year due to higher zinc prices and a weaker yen. However, profit declined due partly to the impact of higher costs, including higher materials and energy costs.」
Revenue in the environmental and recycling business increased, while operating profit declined 4% year on year due to higher materials and energy costs. Stable earnings from businesses less exposed to market conditions weakened to some extent. - FY2023-Q1RestatedAnnual report
「Although sales of zinc oxide, the main product, declined due to the impact of the domestic automotive industry, the business division increased in both revenue and profit year on year, helped by higher zinc prices.」
Although there were factors reducing sales, the environmental and recycling business increased in both revenue and profit, maintaining stable earnings from businesses relatively less exposed to market conditions. - FY2022AdvancedAnnual report
「Revenue in this business division was ¥4.583 billion, an increase of ¥871 million, or 23%, from the previous period, while operating profit was ¥1.481 billion, an increase of ¥564 million, or 62%.」
The environmental and recycling business increased in both revenue and profit, confirming a full-year recovery in earnings from businesses relatively less exposed to market conditions. - FY2022-Q3RestatedAnnual report
「The business division increased in both revenue and profit year on year, as production of zinc oxide, the main product, recovered from the same period of the previous year, when tire manufacturers' production volumes were heavily affected by COVID-19, and zinc prices were higher year on year.」
The environmental and recycling business reported revenue of ¥3,605 million and operating profit of ¥1,282 million, continuing to increase in both revenue and profit year on year. - FY2022-Q2AdvancedAnnual report
「The business division increased in both revenue and profit year on year, as production of zinc oxide, the main product, recovered from the same period of the previous year, when tire manufacturers' production volumes were heavily affected by COVID-19, and zinc prices were higher year on year.」
The environmental and recycling business reported revenue of ¥2,247 million and operating profit of ¥944 million, with operating profit up 227% year on year. Earnings recovery is progressing in businesses relatively less exposed to market conditions. - FY2022-Q1AdvancedAnnual report
「The business division increased in both revenue and profit year on year, partly because production of zinc oxide, the main product, recovered substantially from the same period of the previous year, when tire manufacturers' production volumes were heavily affected by COVID-19.」
The environmental and recycling business increased in both revenue and profit year on year, with operating profit rising from ¥171 million to ¥470 million. This indicates a recovery in earnings from downstream businesses, including those relatively less exposed to market conditions. - FY2021ReframedAnnual report
「Under the 12th Medium-Term Management Plan, based on the review of the period covered by the 11th Medium-Term Management Plan, we will focus on restoring the soundness of our financial position and steadily implement measures to address the various issues.」
The strategic focus shifted from the previous emphasis on stable earnings from businesses less exposed to market conditions toward reviewing dependence on the resources and smelting businesses, which carry significant market risk, and strengthening downstream businesses. - FY2021-Q3WorsenedAnnual report
「Sales of zinc oxide, the main product, declined year on year due partly to lower automobile production resulting from the impact of COVID-19, while revenue also declined because domestic zinc prices were lower year on year. Revenue from other recycling businesses, including used nickel-cadmium battery processing and sulfuric acid recycling, also declined year on year, resulting in lower revenue and profit for the business division.」
The environmental and recycling business, which was considered relatively less exposed to market conditions, saw revenue decline 21% and operating profit decline 9%. The electronic materials business also declined in both revenue and profit, and the generation of stable earnings remained weak. - FY2021-Q2WorsenedAnnual report
「Sales of zinc oxide, the main product, declined year on year due partly to lower automobile production resulting from the impact of COVID-19, while revenue also declined because domestic zinc prices were lower year on year. Revenue from other recycling businesses, including used nickel-cadmium battery processing and sulfuric acid recycling, also declined year on year, resulting in lower revenue and profit for the business division.」
Revenue in the environmental and recycling business declined 37% and operating profit declined 42%, weakening the generation of stable earnings from businesses less exposed to market conditions. - FY2020WorsenedAnnual report
「Profit in the environmental and recycling business also declined due to lower zinc prices and other factors.」
The environmental and recycling business, which was considered relatively less exposed to market conditions, also saw revenue decline 11% and operating profit decline 43%. - FY2020-Q3WorsenedAnnual report
「Revenue from other recycling businesses, including used nickel-cadmium battery processing and sulfuric acid recycling, also declined year on year, resulting in lower revenue and profit for the business division.」
The environmental and recycling business declined in both revenue and profit year on year, and the generation of stable earnings from businesses less exposed to market conditions continued to weaken. - FY2020-Q2WorsenedAnnual report
「Revenue from other recycling businesses, including used nickel-cadmium battery processing and sulfuric acid recycling, also declined year on year, resulting in lower revenue and profit for the business division.」
Operating profit in the environmental and recycling business declined 36% year on year to ¥500 million, and stable earnings from businesses less exposed to market conditions continued to weaken. - FY2020-Q1WorsenedAnnual report
「Revenue from other recycling businesses, including used nickel-cadmium battery processing and sulfuric acid recycling, also declined year on year, resulting in lower revenue and profit for the business division.」
The environmental and recycling business declined in both revenue and profit, weakening the generation of stable earnings from businesses less exposed to market conditions. - FY2019WorsenedAnnual report
「The electronic materials business, civil engineering, construction and plant engineering businesses, and other businesses contribute to Group performance as stable-earnings businesses that are not affected by market conditions, while」
Their positioning as stable-earnings businesses was maintained, but profit in the environmental and recycling business declined 34%, while the civil engineering, construction and plant engineering business reported an operating loss. - FY2019-Q3WorsenedAnnual report
「Revenue from zinc oxide, the main product, declined partly because domestic zinc prices fell year on year. Revenue from other recycling businesses, including used nickel-cadmium battery processing and sulfuric acid recycling, also declined slightly year on year, resulting in lower revenue and profit for the business division.」
The environmental and recycling business, which is relatively less exposed to market conditions, also declined in both revenue and profit year on year due to lower revenue from zinc oxide and recycling businesses. - FY2019-Q2Lower revenue and profit in the stable-earnings businessAnnual report
「Revenue from other recycling businesses, including used nickel-cadmium battery processing and sulfuric acid recycling, increased, but revenue from zinc oxide, the main product, declined partly because sales were deferred to the second half of the fiscal year due to production-related factors. As a result, the business division declined in both revenue and profit year on year.」
The environmental and recycling business also declined in both revenue and profit year on year, indicating a temporary weakening in the generation of stable earnings from businesses less exposed to market conditions. - FY2019-Q1RestatedAnnual report
「Revenue from zinc oxide, the main product, increased substantially year on year, mainly due to the impact of higher domestic zinc prices. Revenue from other recycling businesses, including used nickel-cadmium battery processing and sulfuric acid recycling, also increased, reflecting higher demand and prices. As a result, the business division increased in both revenue and profit year on year.」
The environmental and recycling business increased in both revenue and profit year on year, maintaining stable earnings from businesses less exposed to market conditions. - FY2018-Q3AdvancedAnnual report
「As a result, the performance of this business division increased substantially in both revenue and profit year on year.」
The environmental and recycling business achieved substantial year-on-year increases in both revenue and profit, advancing the generation of earnings from businesses relatively less exposed to market conditions. - FY2018-Q1AdvancedAnnual report
「In terms of earnings, the decline in profit in the smelting and resources businesses was offset by higher profit in the environmental and recycling businesses and others, resulting in a slight year-on-year increase in operating profit.」
Higher profit in the environmental and recycling businesses and others offset lower profit in the market-sensitive smelting and resources businesses, resulting in higher consolidated operating profit year on year. Operating profit in the environmental and recycling businesses also increased from ¥267 million to ¥449 million. - FY2017RestatedAnnual report
「We will continue working to secure stable earnings from business divisions that are relatively less exposed to market conditions.」
The Company continues to secure stable earnings from businesses less exposed to market conditions. - FY2016First statedAnnual report
「Outside the resources and smelting business divisions, we will leverage the relatively low exposure of these businesses to market conditions to generate stable earnings.」
Businesses outside resources and smelting have been positioned as sources of stable earnings.