February 1, 2010
Kuraray Co., Ltd.
Kuraray Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; hereinafter "Kuraray") announces its decision to revise the prices of three of its products: the polyvinyl alcohol (PVA) resin, KURARAY POVAL; the novel vinyl acetate-based, water-soluble resin, EXCEVAL; and the ethylene-vinyl acetate (EVA) copolymer emulsion. Details of the revisions, which commence with shipments from February 20, 2010, are set out below.
Soaring crude oil and naphtha prices and such factors as rising utility costs have brought about a further deterioration in profitability. These cost rises have exceeded the scope of the Company's independent cost reduction efforts.
Given these factors, and in order to maintain a steady supply and improve profitability, Kuraray has decided to implement price revisions, as detailed below.