Risks from fluctuations in copper and zinc prices and raw-material shortages
First written in FY2016. 27 of 41 entries say "Materialised", first in FY2017-Q3. Latest entry: 2026-11-13.
Ck San-Etsu moved to the "Worse" side of this theme in 2017, 1 year before the typical company in this theme (2018).
The whole theme swung hardest in 2018: 15 of 27 companies on the "Worse" side.
9 other companies' latest entry also says "Materialised".
- FY2026WorsenedAnnual report
「The benchmark price of copper, a major raw material for our group (the Company and its consolidated subsidiaries) and an internationally traded commodity, rose to ¥2.19 million per tonne on 13 January of the same year due to soaring LME prices and the weaker yen.」
The benchmark copper price rose to ¥2.19 million per tonne, exceeding the previous fiscal year's high of ¥1.75 million. A derivative loss of ¥8,936 million and a valuation loss of ¥251 million were also incurred, increasing the impact of market fluctuation risk on earnings. - 2026-05-21MaterialisedManagement Planning
「銅相場の変動リスクをヘッジするためのデリバティブ取引に係る損失を計上した」
銅相場変動へのヘッジ取引に係る損失が、2026年3月期の経常利益および親会社株主に帰属する当期純利益の減益要因として示された。 - FY2026-H1MaterialisedAnnual report
「The price of copper, a major raw material for our group (the Company and its consolidated subsidiaries) and an internationally traded commodity, remained at elevated levels.」
Copper prices remained elevated, and raw-material market fluctuations had an actual impact on earnings during the interim period, including the recognition of a derivative valuation loss of ¥1,529 million. - FY2025MaterialisedAnnual report
「The benchmark price of copper, a major raw material for our group (the Company and its consolidated subsidiaries) and an internationally traded commodity, reached a record high of ¥1.75 million per tonne on 21 May 2024.」
The benchmark copper price reached a record high of ¥1.75 million per tonne on 21 May 2024. During the year, a derivative loss of ¥2,176 million and a derivative valuation loss of ¥283 million were also incurred, and the impact of raw-material market fluctuations on earnings became apparent. - FY2025-H1MaterialisedAnnual report
「The benchmark price of copper surged in May but returned to its level at the beginning of the period in August.」
The benchmark copper price surged during the interim period before returning to its level at the beginning of the period. A derivative loss of ¥442 million and a derivative valuation loss of ¥1,030 million were also incurred, and raw-material market fluctuations had an actual impact on earnings. - FY2024WorsenedAnnual report
「The benchmark price of copper, a major raw material for our group and an internationally traded commodity, reached a new high in March 2024.」
The benchmark copper price reached a new high in March 2024, increasing exposure to raw-material market prices. During the year, a derivative loss of ¥1,666 million and a derivative valuation loss of ¥524 million were also incurred. - FY2024-Q3MaterialisedAnnual report
「As non-operating income and expenses, a derivative gain of ¥22 million, a derivative valuation gain of ¥43 million, a derivative loss of ¥372 million and a derivative valuation loss of ¥461 million were recorded, resulting in ordinary income of ¥5,485 million, down 29.6% year on year,」
A derivative loss of ¥372 million and a derivative valuation loss of ¥461 million were incurred, and the impact of raw-material market fluctuations on earnings was also evident during the nine-month consolidated period. - FY2024-Q2MaterialisedAnnual report
「As non-operating income and expenses, a derivative gain of ¥55 million, a derivative valuation gain of ¥3 million, a derivative loss of ¥219 million and a derivative valuation loss of ¥812 million were recorded, resulting in ordinary income of ¥2,747 million, down 57.2% year on year,」
A derivative loss of ¥219 million and a derivative valuation loss of ¥812 million were incurred in connection with responses to raw-material market fluctuations, and market fluctuation risk had an actual impact on earnings during the six-month consolidated period. - FY2024-Q1MaterialisedAnnual report
「As non-operating income and expenses, a derivative gain of ¥240 million, a derivative valuation gain of ¥185 million and a derivative valuation loss of ¥338 million were recorded, resulting in ordinary income of ¥1,938 million, down 56.0% year on year. Net income attributable to owners of the parent was ¥1,169 million, down 57.6%.」
Derivative gains, valuation gains and valuation losses were incurred in connection with responses to raw-material market fluctuations, and market fluctuation risk had an actual impact on earnings during the quarter. - FY2023MaterialisedAnnual report
「Although sales volumes in the copper-processing business decreased 6.4% year on year, revenue was ¥123,838 million, up 7.4% year on year, due partly to copper prices remaining higher than in the same period of the previous year. Operating income was ¥8,279 million, down 23.1%, mainly because gains from raw-material price differences decreased from the previous year.」
High copper prices and lower gains from raw-material price differences, together with lower sales volumes, had an actual impact on annual results, including a 23.1% decline in operating income. - FY2023-Q3MaterialisedAnnual report
「As copper prices remained higher than in the same period of the previous year, revenue for the nine-month consolidated period ended in the third quarter was ¥94,873 million, up 11.5% year on year, while operating income was ¥6,183 million, down 24.5%.」
Copper prices remained higher than in the same period of the previous year and revenue increased, while operating income fell 24.5% year on year. Fluctuations in copper prices had an actual impact on results during the quarter. - FY2023-Q2MaterialisedAnnual report
「Although LME copper prices fell sharply amid sluggish economic activity in China and other factors, domestic benchmark prices remained high as the yen weakened in the foreign exchange market. As non-operating income, a derivative gain of ¥772 million and a derivative valuation gain of ¥1,234 million were recorded, resulting in ordinary income of ¥6,412 million, up 19.1% year on year.」
While LME copper prices fell sharply, domestic benchmark prices remained high due to the weaker yen, and a derivative gain of ¥772 million and a valuation gain of ¥1,234 million were recorded. Copper-market and foreign-exchange fluctuations had an actual impact on earnings during the quarter. - FY2023-Q1MaterialisedAnnual report
「Prices of various items purchased by our group (the Company and its consolidated subsidiaries) rose, while the price of copper, a major raw material and an internationally traded commodity, fell sharply on the London Metal Exchange (LME) amid sluggish economic activity in China and other factors.」
While prices of various purchased items rose, LME copper prices fell sharply against the backdrop of sluggish economic activity in China and other factors. A derivative gain of ¥101 million and a derivative valuation gain of ¥1,354 million were also recorded, demonstrating the actual impact of market fluctuations on earnings during the quarter. - FY2022MaterialisedAnnual report
「Prices of various items purchased by our group (the Company and its consolidated subsidiaries) rose, while the benchmark price of copper, a major raw material and an internationally traded commodity, reached a record high of ¥1.34 million per tonne in October 2021.」
The benchmark copper price reached a record high, making higher resource prices an actual business condition. For the year, a derivative loss of ¥3,786 million and a derivative valuation loss of ¥788 million were also recognised, and the impact of market fluctuations on earnings became apparent. - FY2022-Q3WorsenedAnnual report
「Against the backdrop of higher resource prices and supply constraints, domestic corporate prices rose and consumer prices also began to rise. The purchase prices of various items procured by our group (the Company and its consolidated subsidiaries) increased, and the benchmark price of copper, a major raw material and an internationally traded commodity, reached an all-time high of ¥1.34 million per tonne on 19 October last year, partly due to the weaker yen.」
Purchase prices for various items rose, and the benchmark copper price reached an all-time high of ¥1.34 million per tonne. Exposure to market fluctuations and higher raw-material prices is increasing. - FY2022-Q2MaterialisedAnnual report
「The benchmark price of copper, a major raw material for our group (the Company and its consolidated subsidiaries) and an internationally traded commodity, reached an all-time high in May and remained near record levels thereafter.」
The benchmark copper price reached an all-time high in May and remained near record levels thereafter. A derivative loss of ¥272 million and a derivative valuation loss of ¥405 million were also incurred, demonstrating the actual impact of raw-material market fluctuations on earnings. - FY2022-Q1WorsenedAnnual report
「The benchmark price of copper, a major raw material for our group and an internationally traded commodity, reached ¥1.19 million per tonne in May, setting a new all-time high.」
The benchmark copper price reached ¥1.19 million per tonne in May, setting a new all-time high. Against the backdrop of soaring copper prices, a derivative loss of ¥461 million and a derivative valuation loss of ¥326 million were also incurred during the quarter. - FY2021WorsenedAnnual report
「Our group uses copper and zinc, both internationally traded commodities, as its principal raw materials. Sharp fluctuations in copper and zinc prices could result in unrealised gains or losses on inventories, including raw materials held and work in process. In addition, if copper or zinc were cornered through speculative funds or other means, production could be disrupted by shortages of raw materials. Furthermore, if raw-material prices continue to soar, customers may switch from brass to alternative materials, potentially reducing demand for brass rods, wire, plated wire and precision components.」
The scope of the disclosed risks is clearly defined, covering market fluctuations, raw-material shortages caused by speculative funds, switching to alternative materials due to soaring raw-material prices, and extreme market volatility caused by COVID-19. During the year, a derivative loss of ¥5,249 million and a valuation loss of ¥257 million were incurred, and the impact of market fluctuations on earnings became apparent. - FY2021-Q3WorsenedAnnual report
「The price of copper, a major raw material for our group (the Company and its consolidated subsidiaries) and a commodity traded on international markets that reflects trends across the manufacturing sector, continued to rise, partly due to monetary easing.」
As copper prices continued to rise, a derivative loss of ¥1,232 million and a derivative valuation loss of ¥2,373 million were incurred, increasing the impact of raw-material market fluctuations on earnings. - FY2021-Q2MaterialisedAnnual report
「The domestic benchmark price of copper, an internationally traded commodity and a principal raw material of the Group, continued to rise against a backdrop of China's recovering economy and the partial suspension of operations at Chilean mines due to the spread of infection. Derivative losses of ¥857 million and derivative valuation losses of ¥1,322 million were recorded as non-operating expenses, resulting in an ordinary loss of ¥1,040 million, compared with ordinary income of ¥2,734 million in the same period of the previous year,」
While the domestic benchmark price of copper continued to rise, derivative losses of ¥857 million and derivative valuation losses of ¥1,322 million arose, and raw-material price movements had an actual impact on profit or loss for the cumulative quarter. - FY2021-Q1MaterialisedAnnual report
「The domestic benchmark price of copper, an internationally traded commodity and a principal raw material of the Group, began to rise as China's economy started to recover and some Chilean mines partially suspended operations due to the spread of infection.」
The domestic benchmark price of copper began to rise, while a derivative loss of ¥222 million and a derivative valuation loss of ¥1,157 million arose, indicating that raw-material price movements had an actual impact on profit or loss for the first quarter. - FY2020WorsenedAnnual report
「The benchmark price of copper, the Group's principal raw material, fell to ¥580,000 per tonne at the end of March 2020 due to the COVID-19 shock.」
The benchmark price of copper fell further from below ¥700,000, reaching ¥580,000 per tonne at the end of March 2020 due to the COVID-19 shock. This clearly indicates worsening copper price fluctuation risk. - FY2020-Q3MaterialisedAnnual report
「The benchmark price of copper, the Group's principal raw material, rose somewhat from October 2019. As a result, because copper prices were lower than in the same period of the previous year, net sales for the third quarter of the current consolidated cumulative period were ¥57,244 million, down 12.0% year on year, while operating income was ¥3,210 million, down 15.2%, because copper prices declined during the third quarter and a loss on raw-material price movements arose.」
Although the benchmark price of copper rose somewhat from October, it remained low compared with the same period of the previous year. A decline in copper prices during the period resulted in a loss on raw-material price movements, contributing to declines in net sales and operating income. - FY2020-Q2MaterialisedAnnual report
「The benchmark price of copper, the Group's principal raw material, was on an almost consistently downward trend. As a result, because copper prices were lower than in the same period of the previous year, net sales for the second quarter of the current consolidated cumulative period were ¥38,605 million, down 11.4% year on year, while operating income was ¥2,041 million, down 11.2%, because copper prices declined during the second quarter of the current consolidated cumulative period.」
The benchmark price of copper was on an almost consistently downward trend, and lower copper prices had an actual impact on the year-on-year declines in net sales and operating income. - FY2020-Q1WorsenedAnnual report
「The benchmark price of copper, the Group's principal raw material, was in a downward phase and fell below ¥700,000 per tonne.」
The benchmark price of copper entered a downward phase and fell below ¥700,000 per tonne. It declined further from the ¥700,000s reported in the previous filing, clearly indicating worsening raw-material price fluctuation risk. Price fluctuations had an actual impact on results. In particular, derivative gains and derivative valuation gains arose during the current quarter. - FY2019-Q3MaterialisedAnnual report
「The benchmark price of copper, the Group's principal raw material, reached the ¥800,000s per tonne in the first quarter of the consolidated fiscal period, but declined somewhat to the ¥700,000s from the second quarter onward. As a result, net sales for the third quarter of the current consolidated cumulative period were ¥65,040 million, up 6.6% year on year. Operating income was ¥3,786 million, down 17.3%, because copper prices declined during the third quarter of the current consolidated cumulative period, resulting in a loss on raw-material price movements.」
The benchmark price of copper declined from the ¥800,000s to the ¥700,000s per tonne, resulting in a loss on raw-material price movements and a 17.3% year-on-year decline in operating income. Price fluctuation risk had an actual impact on profit or loss for the cumulative quarter. - FY2019-Q2MaterialisedAnnual report
「The benchmark price of copper, the Group's principal raw material, reached the ¥800,000s per tonne in the first quarter of the consolidated fiscal period, but declined somewhat to the ¥700,000s in the second quarter. As a result, because copper prices were higher than in the same period of the previous year, net sales for the second quarter of the current consolidated cumulative period were ¥43,585 million, up 10.9% year on year. Operating income, however, was ¥2,299 million, down 16.7%, because copper prices declined during the second quarter.」
The benchmark price of copper declined from the ¥800,000s to the ¥700,000s per tonne, and fluctuations in copper prices had an actual impact on the decline in operating income. - FY2019-Q1MaterialisedAnnual report
「The benchmark price of copper, the principal raw material of the Group, comprising the Company and its consolidated subsidiaries, remained around ¥800,000 per tonne.」
The benchmark price of copper remained around ¥800,000 per tonne, while a derivative loss of ¥58 million and a derivative valuation loss of ¥69 million arose, indicating that raw-material price movements had an actual impact on profit or loss for the quarter. - FY2018MaterialisedAnnual report
「As copper prices remained, on average, higher than in the previous consolidated fiscal year, net sales for the current consolidated fiscal year were ¥83,421 million, up 22.4% year on year, and operating income was ¥6,058 million, up 38.3%, due to a gain on raw-material price movements arising from higher copper prices. Ordinary income was ¥5,897 million, up 48.3%, because a derivative loss of ¥316 million was recorded, compared with a derivative loss of ¥574 million in the previous fiscal year.」
The gain on raw-material price movements arising from higher copper prices and the derivative loss of ¥316 million had an actual impact on profit or loss for the fiscal year. - FY2018-Q3MaterialisedAnnual report
「Ordinary income was ¥3,857 million, up 87.1% year on year, because derivative losses of ¥212 million and derivative valuation losses of ¥603 million were recorded to hedge raw-material price risk, compared with ¥114 million and ¥386 million, respectively, in the same quarter of the previous year.」
While copper prices remained high, derivative losses of ¥212 million and valuation losses of ¥603 million arose from raw-material price movements, and price fluctuation risk had an actual impact on profit or loss for the cumulative quarter. - FY2018-Q2MaterialisedAnnual report
「Ordinary income was ¥2,453 million, up 55.5%, mainly because a valuation loss on derivatives used to hedge raw-material price risk of ¥283 million was recorded, compared with a valuation gain on derivatives of ¥157 million in the same quarter of the previous year.」
The rise in copper prices and the resulting ¥283 million valuation loss on transactions hedging raw-material price risk had an actual impact on profit or loss for the cumulative second-quarter period. - FY2018-Q1RestatedAnnual report
「The benchmark price of copper, the principal raw material of the Group, comprising the Company and its consolidated subsidiaries, remained stable at the upper ¥600,000s per tonne.」
The Company described the price environment for copper, its principal raw material. It classified business and other risks as having no new occurrences or material changes. - FY2017MaterialisedAnnual report
「As a result, although net sales for the current consolidated fiscal year were ¥68,131 million, down 0.5% year on year, operating income was ¥4,380 million, up 141.1%, as the reversal and sharp rise in copper prices from November of last year generated a gain on raw-material price movements. Ordinary income was ¥3,975 million, up 40.2%, as derivative transactions used to hedge the risk of raw-material price movements resulted in a derivative loss of ¥574 million, compared with a derivative gain of ¥655 million in the previous fiscal year.」
The reversal and sharp rise in copper prices generated a gain on raw-material price movements, while a derivative loss of ¥574 million was also recorded. Price fluctuations had an actual impact on profit or loss for the fiscal year. - FY2017-Q3MaterialisedAnnual report
「Against this backdrop, although the market price of copper, the Group's principal raw material, had been on a steady downward trend since June of the year before last, it reversed course and surged immediately after the US presidential election in November of last year.」
Low copper prices affected results, and the precision components business reported a segment loss of ¥55 million due to a loss on raw-material price movements caused by the decline in copper prices. The impact of price fluctuation risk is reflected in actual profit or loss. - FY2017-Q2RestatedAnnual report
「In addition, as the yen appreciated, the market price of copper, one of the Group's principal raw materials, declined. As a result, because copper prices remained at low levels, net sales for the second quarter of the current consolidated cumulative period were ¥31,658 million, down 10.8% year on year.」
The Company stated that the stronger yen and continued weakness in copper prices caused a loss on raw-material price movements, affecting net sales and the profit or loss of the precision components business. - FY2017-Q1RestatedAnnual report
「Copper prices remained at low levels, resulting in net sales of ¥15,936 million, down 12.0% year on year, while operating income was ¥577 million, down 6.8%, due in part to a loss on raw-material price movements caused by the decline in copper prices.」
The Company described the impact on operating income of the continued low level of copper prices and the resulting loss on raw-material price movements. - FY2016First statedAnnual report
「The Group uses copper and zinc, which are internationally traded commodities, as its principal raw materials. If copper and zinc prices fluctuate sharply, unrealized gains or losses may arise on inventories, including raw materials held and work in process.」
The Company stated that a loss on raw-material price movements arose during the fiscal year due to the decline in copper prices, affecting operating income.