Kaneka Full-Year Report 2023

Highlights

• Operating income bottomed out at ¥5.6 billion in 1Q (Apr. to Jun. 30, 2023), and the pace of recovery accelerated in each successive quarter, to ¥7.0 billion in 2Q (Jul. 1 to Sep. 30, 2023), ¥9.0 bullion in 3Q (Oct. 1 to Dec. 31, 2023), and ¥11.0 billion in 4Q (Jan. 1 to Mar. 31, 2024).
• Business performance abruptly turned towards profit recovery in the 2nd half although downturn in construction demand in Europe and the U.S., and the inventory adjustments in the electronics market continued,
• Strong momentum returned to each Solutions Vehicle in the 2nd half despite a sluggish 1 st half primarily due to volatile fluctuations in demand.
• In 4Q, overseas business Solutions Vehicles such as Modifiers (MOD), Modified Silicone polymers (MS), and E & I Technology, and Nutrition Solutions Unit, which is utilizing unique and niche technologies contributed to business performance.
• Business performance in Medical grew steadily, and Vinyls and Chlor-Alkali and Foam & Residential Techs have also gotten out of the worst period.