Stable Sourcing of Zinc and Lead Ores
First written in FY2016. 11 of 25 entries say "Restated". Latest entry: 2026-08-14.
Toho Zinc moved to the "Worse" side of this theme in 2017.
2 other companies' latest entry also says "Worsened".
- 2026-08-14WorsenedEarnings presentation
「The procurement environment for the lead and silver business has deteriorated.」
The deterioration in the raw-material procurement environment for the lead and silver business was explicitly attributed to historically low TC/RCs and higher waste-battery collection costs. - FY2026RestatedAnnual report
「Although the deterioration in ore purchase terms for raw ore and persistently high procurement prices for lead recycling materials reduced earnings,」
Higher costs and less favorable terms for procuring ore from overseas mines and recycling materials continued to be cited as factors reducing full-year earnings. - 2026-05-14WorsenedEarnings presentation
「Historic lows continue, due to strong Chinese demand for concentrates」
Treatment and refining charges for raw materials in the lead and silver business remained at historic lows, indicating a continued deterioration in the ore procurement environment. - FY2026-H1WorsenedAnnual report
「In terms of earnings, increased sales and higher prices for bismuth, antimony and other rare metals, including gold, contributed to higher earnings in the smelting business. However, the deterioration in ore purchase terms for raw ore, persistently high procurement prices for lead recycling materials, the impact of a stronger yen against the same period of the previous year, and lower production of lead products resulted in an ordinary loss of ¥178 million, a year-on-year deterioration of ¥1.527 billion.」
The deterioration in ore purchase terms for raw ore and persistently high prices for lead recycling materials offset the benefits of higher sales and stronger rare-metal prices, becoming factors behind the smelting business's loss. - FY2024-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The disclosure states that there have been no significant changes to the existing risks, including dependence on overseas mines, ore supply and demand, and ore purchase terms. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The disclosure states that there have been no significant changes to the existing risks, including dependence on overseas mines, ore supply and demand, and ore purchase terms. - FY2023-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The disclosure states that there have been no significant changes to the existing risks relating to dependence on overseas mines, ore supply and demand, and ore purchase terms. - FY2022RestatedAnnual report
「In response, the Group is working to develop its own mines and secure a stable supply of raw materials by, among other measures, entering into long-term ore purchase agreements with major mines in Peru, Australia and elsewhere. It will also diversify its raw material sources, including by increasing the use of spent batteries.」
Against a backdrop of dependence on overseas mines, the Group's measures to secure raw materials through the development of its own mines, long-term ore purchase agreements and the use of spent batteries have been reaffirmed. - FY2022-Q3RestatedAnnual report
「Although the decline in inventory valuation gains, reflecting measures to hedge market risk and the impact of inventory valuation losses under the lower-of-cost-or-market method, and the deterioration in ore purchase terms for zinc reduced earnings,」
The deterioration in ore purchase terms for zinc continued to be cited as a factor reducing earnings in the smelting business, with no substantive change in the difficult conditions surrounding the stable procurement of raw ore. - FY2022-Q2WorsenedAnnual report
「Although deterioration in ore purchase terms and the absence of the inventory valuation gain under the lower-of-cost-or-market method recorded in the same period of the previous year reduced earnings in the smelting business,」
Ore purchase terms for zinc deteriorated, and conditions in the smelting business for securing a stable supply of raw ore became more difficult again. - FY2021RestatedAnnual report
「All zinc and lead ore is sourced from overseas mines, and global ore supply and demand conditions, as well as unforeseen events such as accidents at mines, may affect the operating results and financial position of the Group. In response, the Group is working to develop its own mines and secure a stable supply of raw materials by, among other measures, entering into long-term ore purchase agreements with major mines in Peru, Australia and elsewhere.」
The disclosure continues to describe the Group's dependence on overseas mines for raw ore and its measures to secure a stable supply through long-term ore purchase agreements and the development of its own mines. - FY2021-Q3MitigatedAnnual report
「In terms of earnings, the inventory valuation loss recorded in the same period of the previous year turned into an inventory valuation gain in the current quarter. Along with improved ore purchase terms and higher gold sales, this resulted in a ¥9.7 billion year-on-year increase in operating profit in the smelting business.」
Improved ore purchase terms were cited as a factor behind the smelting business's return to profitability, indicating that conditions for procuring raw ore had improved in part from the previous fiscal year. - FY2021-Q2MitigatedAnnual report
「In terms of earnings, the inventory valuation loss recorded in the same period of the previous year turned into an inventory valuation gain in the current quarter. Along with improved ore purchase terms and higher gold sales, this resulted in a ¥9 billion year-on-year increase in operating profit in the smelting business.」
Improved ore purchase terms were cited, indicating that conditions for securing raw materials in the smelting business had improved in part from the previous fiscal year. - FY2020WorsenedAnnual report
「All zinc and lead ores are procured from overseas mines, and global ore supply and demand conditions and unforeseen events such as accidents at mines could affect the Group’s operating results and financial position.」
The disclosure explicitly states that the Group relies entirely on overseas mines for its raw ore and notes that the suspension of operations at some mines due to the COVID-19 pandemic could affect production plans. - FY2020-Q3RestatedAnnual report
「Treatment and refining terms for zinc improved substantially compared with the previous period, while those for lead and silver remained at challenging levels for smelters.」
Treatment and refining terms for zinc improved, while challenging levels for lead and silver continued for smelters. - FY2020-Q2RestatedAnnual report
「Treatment and refining terms for zinc improved substantially compared with the previous period, but those for lead remained challenging for smelters.」
Treatment and refining terms for zinc improved, while challenging conditions for lead continued. The situation surrounding ore procurement was broadly consistent with the explanation through the previous quarter. - FY2020-Q1MitigatedAnnual report
「Treatment and refining terms for zinc improved substantially compared with the previous period, but those for lead remained challenging for the smelting operations.」
Treatment and refining terms for zinc improved substantially, while challenging conditions for lead continued, leaving only a partial reduction in risk. - FY2019WorsenedAnnual report
「In addition, treatment and refining terms for raw ore became challenging due to tight ore supply and demand. Conditions in the spot zinc market improved substantially toward the latter part of the period, but deteriorated compared with the previous period over the period as a whole.」
Tight ore supply and demand caused treatment and refining terms to deteriorate compared with the previous period, creating a challenging environment for the smelting operations. - FY2019-Q3WorsenedAnnual report
「In addition, treatment and refining terms for raw ore, particularly lead ore, have deteriorated due to tight ore supply and demand. Although this has benefited the resource operations, soaring energy-related costs and other factors have created a challenging business environment for the smelting operations.」
Deteriorating treatment and refining terms due to tight ore supply and demand were particularly evident for lead, and the challenging environment for the smelting operations has continued and become more pronounced. - FY2019-Q2RestatedAnnual report
「On the production side, treatment and refining terms for raw ore have continued to deteriorate due to tight ore supply and demand. Although this has benefited the resource operations, soaring energy-related costs and other factors have created a challenging business environment for the smelting operations.」
Deteriorating treatment and refining terms due to tight ore supply and demand continue to be reported, with the environment described as favorable for the resource operations but challenging for the smelting operations. - FY2019-Q1WorsenedAnnual report
「On the production side, treatment and refining terms for raw ore have continued to deteriorate due to tight ore supply and demand. Although this has benefited the resource operations, soaring energy-related costs and other factors have created a challenging business environment for the smelting operations.」
Deteriorating treatment and refining terms for raw ore due to tight ore supply and demand have continued, and this is described as part of the challenging environment for the smelting operations. - FY2018-Q3MaterialisedAnnual report
「In addition, we were forced to cut production as supplies of raw ore tightened, resulting in a 13% year-on-year decline in net sales.」
Tight supplies of raw ore actually led to production cuts, bringing the risk surrounding stable ore procurement to the forefront of the business. - FY2018-Q2RestatedAnnual report
「From mid-June onward, the supply-demand balance became increasingly tight and prices continued to rise due to continued production cuts by major mining companies and tighter environmental regulations in China, among other factors.」
Continued production cuts by major mining companies and tighter environmental regulations in China continue to be cited as factors tightening the supply and demand for zinc and lead ores. - FY2017WorsenedAnnual report
「Amid tight supplies of raw ore and deteriorating treatment and refining terms」
Tight ore supply and demand and deteriorating treatment and refining terms were explicitly identified, highlighting the challenging business environment surrounding the stable procurement of zinc and lead ores. - FY2016First statedAnnual report
「Securing zinc and lead ores, the principal raw materials for the Group’s core smelting operations, is an important management priority.」
The disclosure describes the Group’s reliance on procurement from CBH’s mines and major mines in Peru, Australia and elsewhere.