March 10, 2010
Kuraray Co., Ltd.
Kuraray Co., Ltd. today announces a decision to implement a major organizational restructuring as of April 1, 2010.
Further organizational restructuring measures (within divisions or sections) as of April 1, 2010, will be announced at a later date.
Having sustained serious damage due to the global recession that occurred in the wake of disruptions to the financial sector known as the "Lehman Shock," Kuraray began implementing its "GS-Twins" three-year, Medium-term Action Plan in fiscal 2009 with the aim of restoring the Company's profit structure in three years.
Consequently, Kuraray will implement the following organizational changes that incorporate structural improvements and measures to prepare personnel for future management-level positions. Such actions are intended to strengthen corporate sustainability further by realizing the following key initiatives raised by "GS-Twins": "Improve profit structure," "Creation and expansion of new business" and "Acceleration of global strategy for core businesses."
The Corporate Management Planning Office will be established under the direct control of the President in order to promote management strategies more rapidly. The Corporate Strategy and Planning Department, Corporate Business Planning Department, Corporate Control Department, Corporate Communications Department as well as Global Business Management Department will be placed within the Corporate Management Planning Office.
The Administrative Unit will be established in order to facilitate comprehensive and efficient management of administrative functions at the Company's headquarters. The General Affairs and HR Division, Accounting and Finance Division, Purchasing and Logistics Division and CSR Division will be placed within the Administrative Unit.
The Technology and Development Unit will be established in order to bolster coordination between business and technological development as well as to foster the agile management of integrated technologies. The New Business Development Division and Technology Division will be placed within the Technology and Development Unit.
The position of Manager Responsible for Overseas Affiliated Companies will be established in order to facilitate unified management of each overseas group company as well as to promote smooth and rapid implementation of overseas business strategies.
The Specialty Resin and Film Company and the Chemicals and Medical Product Company will change their names to the Resin Company and the Chemicals Company, respectively.