July 8, 2008
Kuraray Trading Co., Ltd.
Kuraray Trading Co., Ltd. (hereinafter "Kuraray Trading" or "the Company") announces its decision to increase the price of polyester filament yarn approximately 5%, or an average of ¥30 per kilogram, for Japan and export shipments commencing August 1, 2008.
The steep rise in crude oil and naphtha prices has resulted in increases in raw material and fuel costs that have nullified the effect of the previous price revision of January 7, 2008 as well as the scope of the Company's cost reduction efforts. Consequently, operating revenue remains in decline.
To maintain operability and a steady supply, and given the urgency to improve profitability, Kuraray Trading has decided to once again implement price revisions, as detailed below.