Kuraray Q3 Report 2023

Overview of Consolidated Business Results

In the second quarter of fiscal 2023 (January 1, 2023-June 30, 2023), except in some regions, the world economy gradually recovered, reflecting the resolution of supply chain disruptions and the easing of supply limitations that had been caused by a semiconductor shortage. However, the outlook remained unclear due in part to continued financial tightening in various countries to control inflation, a lack of vitality in the Chinese economy despite an anticipated recovery, and the Russia-Ukraine situation, for which there seems to be no offramp.

Amid these circumstances, consolidated operating results for the second quarter of fiscal 2023 are as follows: net sales increased ¥22,957 million (6.4%) year on year to ¥380,998 million; operating income increased ¥2,880 million (7.6%) year on year to ¥40,970 million; ordinary income increased ¥642 million (1.7%) year on year to ¥38,538 million; and net income attributable to owners of the parent decreased ¥2,364 million (9.8%) year on year to ¥21,842 million.