Kuraray Q1 Report 2023

Overview of Consolidated Business Results

In the first quarter of fiscal 2023 (January 1, 2023-March 31, 2023), the world economy showed some signs of improvement due to the Chinese economy returning to normal after the reversal of its zero-COVID policy and other factors. However, the outlook remained unclear and a sense of economic deceleration grew due in part to continued financial tightening in various countries to control inflation and the effects of the Russia-Ukraine situation.

Amid these circumstances, consolidated operating results for the first quarter of fiscal 2023 are as follows: net sales increased ¥17,407 million (10.4%) year on year to ¥184,965 million; operating income decreased ¥820 million (3.7%) year on year to ¥21,324 million; ordinary income decreased ¥1,905 million (8.5%) year on year to ¥20,389 million; and net income attributable to owners of the parent decreased ¥4,548 million (35.8%) year on year to ¥8,152 million.