S Science Company, Ltd.
5721・Standard Market・Nonferrous Metals
Nickel Business
The company's core profit segment, handling sales of Nickel Ingot and Nickel Salts
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (full year, FY2025 ended March 2025) | ¥626 million | — | ↓ |
| Segment profit (full year, FY2025 ended March 2025) | ¥31 million | — | ↑ |
| Segment assets (as of end of FY2025 ended March 2025) | ¥375 million | — | — |
| Net sales (cumulative Q3, FY2026 ending March 2026) | ¥446 million | ¥474 million | ↓ |
| Segment profit (cumulative Q3, FY2026 ending March 2026) | ¥14 million | ¥28 million | ↓ |
Business Details
A segment engaged in the sale of Nickel Ingot and Nickel Salts. Handled by the Tokyo head office and Osaka business division, targeting demand from automotive, electronics, and housing applications. Major customers are Asahi Sangyo Co., Ltd. (22.6% of sales) and Kotabe Co., Ltd. (10.4% of sales). Since LME (London Metal Exchange) nickel price trends directly affect selling prices, the business structure is strongly influenced by international commodity markets and foreign exchange rates. The company adopts a build-to-forecast production method and does not conduct build-to-order production.
Recent Overview
LME nickel prices continued their downward trend, with cumulative Q3 net sales down 6.0% year over year
Full-year net sales for FY2025 (ended March 2025, based on the annual securities report) were ¥626 million, with segment profit of ¥31 million. In the cumulative nine months of FY2026 (ending March 2026) (April to December 2025), declining LME nickel prices led to lower selling prices, with net sales falling to ¥446 million (down 6.0% from ¥474 million in the same period of the prior year) and segment profit shrinking to ¥14 million. Purchase results totaled ¥483 million (FY2025 ended March 2025), comprising ¥253 million for Nickel Ingot and ¥231 million for Nickel Salts. Responding to the price decline trend remains an ongoing challenge.
Key Products
Growth Drivers
- A stable sales base built on continuing transaction relationships with major customers (Asahi Sangyo Co., Ltd. and Kotabe Co., Ltd.)
- Sales initiatives to strengthen the business base through new customer development and expanding share with existing customers
- Resilient nickel demand underpinned by automotive, electronics, and housing-related demand
Risks
- The continuing downtrend in LME nickel prices exerts ongoing direct downward pressure on selling prices and net sales
- Foreign exchange risk: since the business is linked to international commodity markets, both yen depreciation and appreciation affect earnings
- Downside economic risk from global conditions (prolonged conflicts in Ukraine and the Middle East, uncertainty over U.S. trade policy, concerns over the Chinese economic outlook)
- Inventory risk from the build-to-forecast production method: valuation losses on inventory may occur in the event of a sudden market change
Last updated: June 30, 2026