Price fluctuations in aluminum and copper ingots, crude oil, and other commodities
First written in FY2016. 15 of 33 entries say "Materialised", first in FY2017-Q1. Latest entry: 2026-08-06.
Uacj moved to the "Worse" side of this theme in 2016, 2 years before the typical company in this theme (2018).
The whole theme swung hardest in 2025: 3 of 8 companies on the "Worse" side.
2 other companies' latest entry also says "Materialised".
- FY2026-H1MaterialisedAnnual report
「Profitability was affected by persistently high raw material and supply prices, foreign exchange fluctuations and other factors, resulting in consolidated operating profit of ¥22,627 million, down 36.6%, interim profit before tax of ¥14,537 million, down 44.2%, and interim profit attributable to owners of the parent of ¥7,369 million, down 55.9%.」
Persistently high raw material and supply prices emerged as an actual factor behind the decline in profit, affecting operating profit, interim profit before tax and interim profit attributable to owners of the parent. - FY2025MitigatedAnnual report
「As the practice of setting prices to reflect market fluctuations has become established, in most of the businesses operated by our Group, fluctuations in new aluminum ingot prices no longer affect earnings over the medium to long term.」
The Company has reiterated that reflecting ingot price fluctuations in selling prices limits their impact on earnings over the medium to long term. The effects of short-term fluctuations and inventory valuation remain. - FY2025-H1Improvement in results driven by higher prices and an improvement in inventory impactsAnnual report
「Consolidated revenue was ¥487,101 million, up 12.0% year on year, due mainly to higher sales volume and aluminum bullion prices. Profit also increased, with consolidated operating profit of ¥35,700 million, up 176.7%, consolidated profit before tax for the six months of ¥26,033 million, up 157.2%, and six-month profit attributable to owners of the parent of ¥16,706 million, up 267.3%, due mainly to higher sales volume and an improvement in the inventory impact.」
Higher aluminum ingot prices and an improvement in inventory impacts, together with increased sales volume, emerged as factors behind the increase in revenue and earnings for the interim consolidated accounting period. - FY2024-Q3MitigatedAnnual report
「Despite the effects of lower sales volume and a deterioration in the inventory impact, the effects of price revisions, including passing on soaring energy and alloying-metal prices through selling prices, resulted in consolidated operating profit of ¥22,187 million, up 101.7%, consolidated profit before tax for the quarter of ¥13,432 million, up 118.2%, and quarterly profit attributable to owners of the parent of ¥6,793 million, up 181.6%.」
Although the deterioration in inventory impacts caused by fluctuations in the prices of ingots, energy and other items remained, the effects of price revisions, including the pass-through of costs to selling prices, boosted profit and mitigated part of the impact of price fluctuations on earnings. - FY2024-Q2MaterialisedAnnual report
「Consolidated revenue amounted to ¥434,943 million, down 13.2% year on year, due mainly to lower sales volume and falling aluminum ingot prices. Profitability was also affected by lower sales volume and the deterioration in inventory impacts, resulting in consolidated operating profit of ¥12,902 million, down 20.0%.」
Falling aluminum ingot prices, together with lower sales volume, pushed down revenue and also contributed to the decline in operating profit through the deterioration in inventory impacts. - FY2024-Q1MaterialisedAnnual report
「Consolidated revenue amounted to ¥211,103 million, down 17.6% year on year, due mainly to lower sales volume and falling aluminum ingot prices. Profitability was also affected by lower sales volume and the deterioration in inventory impacts, resulting in consolidated operating profit of ¥8,177 million, down 53.9%.」
The decline in aluminum ingot prices was reflected in the quarter's results through lower revenue and a decline in operating profit caused by the deterioration in inventory impacts. - FY2023-Q3RestatedAnnual report
「Consolidated net sales amounted to ¥728,326 million, up 29.4% year on year, mainly due to higher aluminum ingot prices and increased sales volume.」
Fluctuations in aluminum ingot prices continued to affect results. In the cumulative third quarter, higher prices contributed to the increase in net sales, while in North America, the deterioration in inventory impacts was cited as a factor behind the decline in earnings. - FY2023-Q2RestatedAnnual report
「Higher sales volumes contributed to higher net sales, and the Group is proceeding with passing higher energy and additive-metal prices through to selling prices. However, the benefit of improved inventory valuation resulting from higher aluminum primary-metal prices was smaller than in the same period of the previous year, while higher energy costs also weighed on profit, resulting in consolidated operating profit of ¥21,472 million, down 28.1% year on year.」
While the Group is proceeding with passing higher energy and additive-metal prices through to selling prices, the benefit of improved inventory valuation resulting from higher primary-metal prices was smaller than in the same period of the previous year and, together with higher energy costs, weighed on profit. - FY2023-Q1RestatedAnnual report
「Consolidated net sales were ¥247,266 million, up 42.3% year on year, due mainly to higher sales volume and aluminum bullion prices. Profit also increased, with consolidated operating profit of ¥18,344 million, up 38.8%, ordinary profit of ¥19,931 million, up 72.5%, and profit attributable to owners of the parent of ¥14,204 million, up 62.0%.」
Higher aluminum primary-metal prices affected results through improved inventory valuation and other factors, contributing to higher net sales and profit this quarter. The disclosure continues to explain the structure through which price fluctuations appear in results. - FY2022MitigatedAnnual report
「As pricing mechanisms that reflect market fluctuations in selling prices have become established, fluctuations in the price of primary aluminum do not affect earnings over the medium to long term in most of the Group's businesses. However, if there is a timing difference between market fluctuations and their reflection in selling prices, or if prices fluctuate sharply over a short period, changes in inventory valuation may affect accounting profit or loss for the period.」
The disclosure explains that reflecting primary-metal price fluctuations in selling prices has established a structure that limits their medium- to long-term impact on earnings, while inventory valuation risk remains due to short-term fluctuations and differences in the timing of the pass-through. - FY2022-Q3RestatedAnnual report
「Profit was also supported by improved inventory valuation resulting from higher aluminum primary-metal prices and the recovery in sales volumes. Consolidated operating profit was ¥42,816 million, compared with ¥3,075 million in the same period of the previous year; consolidated ordinary profit was ¥35,970 million, compared with an ordinary loss of ¥598 million; and profit attributable to owners of the parent for the quarter was ¥23,233 million, compared with a loss of ¥4,685 million.」
The impact of primary-metal price fluctuations continued to appear in results, and this quarter, higher prices contributed to a substantial increase in profit through improved inventory valuation. - FY2022-Q2Improved impact on inventory from higher primary-metal pricesAnnual report
「Consolidated net sales were ¥365,036 million, up 38.0% year on year, due to higher aluminum ingot prices, recovering sales volumes and other factors. Consolidated operating profit was ¥29,866 million, compared with a loss of ¥1,122 million in the same period of the previous year; consolidated ordinary profit was ¥25,784 million, compared with a loss of ¥2,609 million; and quarterly net income attributable to owners of the parent was ¥17,300 million, compared with a loss of ¥5,052 million, owing to improved inventory valuation resulting from higher aluminum ingot prices, recovering sales volumes and other factors.」
The impact of primary-metal price fluctuations continued to appear in results, and this quarter, higher prices contributed to a substantial increase in profit through improved inventory valuation. - FY2022-Q1MaterialisedAnnual report
「Consolidated operating profit was ¥13,211 million, compared with an operating loss of ¥575 million in the same period of the previous year, and consolidated ordinary profit was ¥11,556 million, compared with ordinary profit of ¥36 million, due to improved inventory valuation resulting from higher aluminum primary-metal prices and the recovery in sales volumes.」
Higher aluminum primary-metal prices actually contributed to improvements in operating profit and ordinary profit through improved inventory valuation. - FY2021-Q2MaterialisedAnnual report
「Consolidated net sales were ¥264,608 million, down 15.9% year on year, due to lower sales volumes resulting from the spread of COVID-19 and declining aluminum primary-metal prices, among other factors.」
The decline in aluminum primary-metal prices, together with lower sales volumes, contributed to the 15.9% year-on-year decline in net sales, demonstrating that the risk of primary-metal price fluctuations had affected actual results. - FY2021-Q1MaterialisedAnnual report
「Consolidated operating loss was ¥575 million, compared with operating profit of ¥1,311 million in the same period of the previous year, due to lower sales volumes and other factors. Consolidated ordinary profit was ¥36 million, compared with an ordinary loss of ¥135 million in the same period of the previous year, due in part to the recognition of non-operating income.」
Declining aluminum primary-metal prices, together with lower sales volumes, reduced net sales, and operating profit fell from profit of ¥1,311 million in the same period of the previous year to a loss of ¥575 million. The impact of primary-metal price fluctuations continued to appear in results. - FY2020-Q3MaterialisedAnnual report
「Consolidated net sales for the cumulative third quarter were ¥462,756 million, down 7.0% year on year, due to the decline in primary-metal prices and other factors, despite higher sales volumes. Operating profit fell 59.5% year on year to ¥5,632 million and ordinary profit fell 81.1% to ¥1,349 million, due in part to deterioration in inventory valuation.」
Although sales volumes increased, the decline in primary-metal prices reduced net sales and actually contributed to lower operating profit and ordinary profit through deterioration in inventory valuation. - FY2020-Q2MaterialisedAnnual report
「Consolidated net sales for the cumulative second quarter were ¥314,608 million, down 4.9% year on year, due to the decline in primary-metal prices and other factors, despite higher sales volumes.」
Although sales volumes increased, the decline in primary-metal prices reduced net sales. The risk of primary-metal price fluctuations also actually affected results this quarter. - FY2020-Q1MaterialisedAnnual report
「Although sales volumes increased, net sales fell 6.9% year on year to ¥159,754 million due to the decline in primary-metal prices and other factors. Meanwhile, operating profit fell 84.7% to ¥1,311 million and ordinary loss was ¥135 million, compared with ordinary profit of ¥6,806 million in the same period of the previous year, due in part to deterioration in inventory valuation.」
The decline in primary-metal prices reduced net sales and actually affected operating profit and ordinary profit through deterioration in inventory valuation. - FY2019MaterialisedAnnual report
「Copper primary-metal prices were weak during the period compared with the previous period, when they were on an upward trend. Against this backdrop, net sales in the copper products business were ¥47,490 million, up 4.1% from the previous period. Although an improved product mix contributed to higher profit, operating profit fell 16.2% to ¥1,738 million due to deterioration in inventory valuation and higher energy costs.」
Weak copper primary-metal prices reduced profit in the copper products business through deterioration in inventory valuation, while higher energy costs also emerged as a factor behind the decline in profit. - FY2019-Q3Deterioration in inventory valuation due to weak copper primary-metal pricesAnnual report
「Copper primary-metal prices were weak compared with the same period of the previous year, when they were on an upward trend. Against this backdrop, net sales in the copper products business for the cumulative third quarter were ¥35,898 million, up 6.8% year on year. Although improved product mix contributed to higher profit, operating profit fell 5.3% year on year to ¥1,397 million due to deterioration in inventory valuation.」
The impact of primary-metal price fluctuations continued, and in the copper products business this quarter, weak copper primary-metal prices contributed to deterioration in inventory valuation and lower operating profit. - FY2019-Q2RestatedAnnual report
「Consolidated net sales for the cumulative second quarter were ¥330,857 million, up 9.6% year on year, due in part to higher primary-metal prices.」
Primary-metal price fluctuations continued to affect results, and higher prices contributed to the increase in net sales during the cumulative second quarter. - FY2019-Q1RestatedAnnual report
「Consolidated net sales for the cumulative first quarter were ¥171,553 million, up 12.5% year on year, due in part to higher primary-metal prices.」
Primary-metal price fluctuations continued to affect results, and higher prices contributed to the increase in net sales this quarter. - FY2018-Q3RestatedAnnual report
「Against this backdrop, the Group's net sales rose 9.9% year on year to ¥458,668 million, due to higher primary-metal prices and increased sales volumes. Operating profit rose 35.1% year on year to ¥23,305 million, partly due to improved inventory valuation.」
Primary-metal price fluctuations continued to affect results, and during the cumulative third quarter, higher prices and improved inventory valuation contributed to increases in net sales and operating profit. - FY2018-Q2RestatedAnnual report
「Under these circumstances, the Group's net sales were ¥301,854 million, up 8.2% year on year, due to higher ingot prices and other factors. Operating profit increased 52.0% to ¥15,794 million, ordinary profit increased 73.2% to ¥12,800 million, and net income attributable to owners of the parent increased 216.7% to ¥6,860 million, owing to improved inventory valuation, cost reductions and other factors.」
The impact of primary-metal price fluctuations continued to appear in results, but this quarter, higher prices and improved inventory valuation contributed to higher profit. - FY2018-Q1Higher prices improved inventory valuation.Annual report
「Net sales were ¥152,494 million, up 9.9% year on year, due to higher sales volumes and rising primary-metal prices. Operating profit rose 93.0% year on year to ¥9,487 million, due to improved inventory valuation, higher sales volumes and cost reductions.」
Primary-metal price fluctuations continued to affect results this quarter, but the disclosure states that higher prices and improved inventory valuation, rather than deterioration caused by falling prices, contributed to the improvement in profit. - FY2017The impact continued, although it narrowed.Annual report
「Operating profit rose 70.1% year on year to ¥25,869 million, due to the smaller adverse impact of inventory valuation associated with the decline in primary-metal prices compared with the previous period, as well as cost reductions.」
The disclosure states that the adverse impact of the decline in primary-metal prices on inventory valuation actually occurred, but was smaller than in the previous period. - FY2017-Q3MaterialisedAnnual report
「Although copper primary-metal prices rose toward the end of the period, they remained weak throughout the cumulative third quarter of the fiscal year. As a result, net sales in the copper products business were ¥31,935 million, down 10.0% year on year. Operating profit fell 42.1% year on year to ¥325 million, due in part to deterioration in inventory valuation associated with weak primary-metal prices.」
Weak copper primary-metal prices actually contributed to the decline in net sales and operating profit in the copper products business through deterioration in inventory valuation. - FY2017-Q2MaterialisedAnnual report
「Due to the decline in primary-metal prices from the previous year, net sales were ¥278,863 million, down 4.3% year on year. Although profit was affected by deterioration in inventory valuation associated with the decline in primary-metal prices, operating profit rose 16.9% year on year to ¥10,394 million, driven by higher sales volumes and cost reductions.」
The decline in aluminum and copper primary-metal prices affected net sales and inventory valuation in the second quarter. In the copper products business, a sharp decline in copper primary-metal prices resulted in operating profit of ¥37 million, down 90.3% year on year. - FY2017-Q1MaterialisedAnnual report
「Net sales were ¥138,753 million, down 5.6% year on year, due to a decrease from foreign currency translation resulting from the stronger yen and the impact of lower ingot prices. Although earnings were affected by a deterioration in inventory valuation resulting from lower ingot prices, operating profit increased 6.0% to ¥4,916 million and ordinary profit increased 5.4% to ¥3,911 million, owing to cost reductions and other factors.」
The decline in aluminum and copper primary-metal prices affected earnings this quarter through deterioration in inventory valuation. In the copper products business, a sharp decline in copper primary-metal prices resulted in operating profit of ¥88 million, down 69.8% year on year. - FY2016First statedAnnual report
「Aluminum and copper primary metals, which are key raw materials for the Group, are commodities and may experience unexpected price fluctuations depending on global conditions and market trends.」
The period saw a sharp decline in primary-metal prices, which reduced profit through deterioration in inventory valuation, demonstrating that price fluctuation risk had materialized.