March 14, 2013
Kuraray Co., Ltd.
Kuraray Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; hereinafter "Kuraray" or the "Company") 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 April 1, 2013, are set out below.
Kuraray had previously revised these products' prices with shipments commencing January 15, 2013. Since that time, soaring crude oil and naphtha prices and such factors as ongoing rises in utility costs have further deteriorated the profitability of 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 if the Company were to 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 April 1, 2013|
Previous price revisions applied to shipments commencing January 15, 2013