Dependence on China for Antimony Raw Materials and Supply Disruption Risk
First written in FY2016. 17 of 28 entries say "Restated". Latest entry: FY2026.
Nihon Seiko moved to the "Worse" side of this theme in 2024, 3 years after the typical company in this theme (2021).
The whole theme swung hardest in 2025: 4 of 15 companies on the "Worse" side.
6 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「We have been working to secure stable suppliers without depending on any particular country for raw material metal, but we recognize that further diversifying our suppliers to reduce procurement risk is an important task going forward.」
The filing identifies the impact of export controls by China and other antimony-producing countries as a factor contributing to supply shortages, and positions further diversification of suppliers as an important task. - 2026-05-12MaterialisedEarnings
「Production across the manufacturing sector remained somewhat soft, and procurement of OEM products from China and elsewhere became difficult. As a result, annual sales volume decreased by 579 tons, or 12.8%, year on year to 3,962 tons.」
The difficulty of procuring OEM products from China and elsewhere continues to be cited in the full-year results for the fiscal year ending March 2026. - FY2026-H1MaterialisedAnnual report
「Production across the manufacturing sector remained somewhat soft, and procurement of OEM products from China and elsewhere became difficult. As a result, sales volume decreased by 414 tons, or 16.9%, year on year to 2,035 tons.」
The filing states that procuring OEM products from China and other countries has become difficult, indicating that supply and procurement risks associated with dependence on China have materialized as actual procurement constraints. - FY2025WorsenedAnnual report
「Since antimony-related products, a type of rare metal, became subject to China's export controls on 15 September 2024, exports of processed products such as antimony metal, hereinafter referred to as "raw material metal," and antimony trioxide have declined significantly.」
The filing states that exports of raw material metal and processed products declined significantly after China implemented export controls, indicating the concrete emergence of supply disruption and procurement shortage risks. - FY2025-H1WorsenedAnnual report
「The international price of antimony metal, which is the raw material for this business and also serves as the benchmark for product selling prices, rose sharply in China, the main producing region, as supply and demand tightened rapidly due to shortages of antimony ore in and outside China, lower metal production caused by environmental audits, and growing demand for solar panels. After the Chinese authorities announced that export controls on antimony metal would take effect on 15 September, the price reached a new high and has remained near that record level.」
Supply and demand tightened sharply in China due to ore shortages, environmental audits and growing demand for solar panels, and the Chinese authorities announced that export controls on antimony metal would take effect on 15 September. Supply risks associated with dependence on China have become more concrete. - FY2024-Q3RestatedAnnual report
「During the nine-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The filing states that there have been no new developments or material changes in business and other risks, including dependence on China for antimony raw materials and supply risks. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no new business risks and no material changes to the business risks described in the securities report for the previous fiscal year.」
The filing states that there have been no new developments or material changes in business and other risks, including dependence on China for antimony raw materials and supply risks. - FY2023-Q3RestatedAnnual report
「During the nine-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The filing states that there have been no new developments or material changes in business and other risks, including dependence on China for antimony raw materials and supply risks. - FY2022WorsenedAnnual report
「The international price of antimony metal, which is the raw material for this business and also serves as the benchmark for product selling prices, remained on an upward trend in China, the main producing region, as supply and demand tightened further due to shortages of antimony ore both inside and outside China and temporary operating suspensions resulting from environmental audits.」
The filing states that shortages of antimony ore in China and operating suspensions due to environmental audits further tightened raw material supply and demand. - FY2022-Q3WorsenedAnnual report
「The international price of antimony metal, which is the raw material for this business and also serves as the benchmark for product selling prices, remained on an upward trend in China, the main producing region, as supply and demand tightened further due to shortages of antimony ore both inside and outside China and temporary operating suspensions resulting from environmental audits.」
The filing states that shortages of antimony ore in China and temporary operating suspensions due to environmental audits further tightened raw material supply and demand. - FY2021RestatedAnnual report
「China is the main source of raw-material metal. This creates risks that China's resource-conservation policies and other measures may affect stable procurement of raw-material metal, and that procurement prices may be susceptible to market fluctuations.」
The filing continues to identify the risks associated with securing a stable supply of antimony raw materials, primarily sourced from China, and with price fluctuations. - FY2021-Q3RestatedAnnual report
「During the nine-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The filing states that there have been no new developments or material changes in business and other risks, including dependence on China for antimony raw materials and the risk of supply disruptions. - FY2021-Q2RestatedAnnual report
「During the six-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The filing states that there have been no new developments or material changes in business and other risks, including dependence on China for antimony raw materials and the risk of supply disruptions. - FY2021-Q1RestatedAnnual report
「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The filing states that there have been no new developments or material changes in business and other risks, including dependence on China for antimony raw materials and the risk of supply disruptions. - FY2020Added export-control developments as a risk factorAnnual report
「Raw material prices may surge or plunge due to changes in environmental and resource policies in China, a major producer of antimony metal, which is the raw material for this business, export-control developments, and movements in speculative funds, as with other nonferrous metals.」
In addition to China's environmental and resource policies, export-control developments and movements in speculative funds were explicitly identified as factors driving raw material price fluctuations. - FY2020-Q3RestatedAnnual report
「During the nine-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The disclosure states that there have been no newly arising risks or material changes concerning business and other risks, including dependence on China for antimony raw materials. - FY2020-Q1RestatedAnnual report
「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The disclosure states that there have been no newly arising risks or material changes concerning dependence on China for antimony raw materials and the risk of supply disruption. - FY2019RestatedAnnual report
「China is the main source of raw-material metal. This creates risks that China's resource-conservation policies and other measures may affect stable procurement of raw-material metal, and that procurement prices may be susceptible to market fluctuations.」
The disclosure continues to describe the risk associated with procuring raw materials primarily from China. - FY2019-Q3RestatedAnnual report
「During the nine-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The disclosure states that there have been no newly arising risks or material changes concerning dependence on China for antimony raw materials and the risk of supply disruption. - FY2019-Q2RestatedAnnual report
「During the six-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The disclosure states that there have been no newly arising risks or material changes concerning dependence on China for antimony raw materials and the risk of supply disruption. - FY2019-Q1RestatedAnnual report
「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The disclosure states that there have been no newly arising risks or material changes concerning dependence on China for antimony raw materials and the risk of supply disruption. - FY2018SoftenedAnnual report
「China is the main source of raw-material metal. This creates risks that China's resource-conservation policies and other measures may affect stable procurement of raw-material metal, and that procurement prices may be susceptible to market fluctuations.」
China remains the main source and procurement risks continue, but the previous figure of "almost 80%" dependence is not stated. - FY2018-Q3RestatedAnnual report
「During the nine-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The disclosure states that there have been no newly arising risks or material changes concerning dependence on China for antimony raw materials and the risk of supply disruption. - FY2018-Q2RestatedAnnual report
「During the six-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The disclosure states that there have been no newly arising risks or material changes concerning dependence on China for antimony raw materials and the risk of supply disruption. - FY2018-Q1RestatedAnnual report
「The international price of antimony metal, the raw material for this business and the benchmark for product selling prices, is denominated in US dollars. In China, the main producing region, it began the first quarter with a gradual increase amid concerns about tight supply and demand caused by operating shutdowns related to environmental regulations. After reaching a high in the USD 9,000 range in early May, expectations of a supply shortage rapidly receded following the completion of environmental inspections by the Chinese government conducted from April through the end of May, and the price fell to the USD 8,200 range at the end of June.」
The disclosure describes concerns about operating shutdowns and supply shortages associated with China's environmental regulations and inspections. The business and other risks section, however, states that there have been no material changes. - FY2017MitigatedAnnual report
「The raw material for antimony trioxide, the main product of this business, referred to below as "raw-material metal," is sourced from China for almost 80% of requirements. The implementation of China's resource-conservation policies creates a risk to the stable procurement of raw-material metal.」
The stated dependence on China has changed from "almost 100%" to "almost 80%." The procurement risk arising from dependence on China continues, however. - FY2017-Q3RestatedAnnual report
「During the nine-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The disclosure states that there have been no newly arising risks or material changes from the previous fiscal year with respect to business and other risks overall. No changes are indicated in the specific risk related to dependence on Chinese raw materials. - FY2016First statedAnnual report
「We rely on imports from China for nearly 100% of the raw material for antimony trioxide, the principal product of this business, hereinafter referred to as antimony ingot. The implementation of China's resource-conservation policies therefore creates a risk in terms of securing a stable supply of antimony ingot.」
The filing explicitly states that nearly 100% of the supply depends on China and identifies procurement risk arising from China's resource-conservation policies.