December 13, 2012
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 vinyl acetate-based, water-soluble synthetic resin, EXCEVAL; and the ethylene-vinyl acetate (EVA) copolymer emulsion, PANFLEX. Details of the revisions, which commence with shipments from January 15,2013, are set out below.
Soaring crude oil and naphtha prices and such factors as rising utility costs have increasingly worsened the profitability of the operations both in Japan and Asia. These cost rises have largely exceeded the scope of the Company's independent cost reduction efforts. Accordingly, it is expected that continuing these operations would be difficult, should the Company maintain the current sales prices.
Given these factors, and in order to maintain a steady supply and improve profitability, Kuraray had to take the unavoidable decision to implement price revisions, as detailed below.
|1. Scope of revision||
|2. Effective date||Shipments from January 15, 2013|