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Kuraray Co., Ltd. announces that it has reached the following decision concerning the method of acquisition of its own shares, pursuant to the provisions of Article 210 of the Commercial Code of Japan.

1. Method of Acquisition

A buy order shall be placed on the Tokyo Stock Exchange's ToSTNeT-2 (closing-price transaction) at 8.45 a.m. on December 2, 2003 to be executed at today's closing price of ¥818 (no changes shall be made in other trading arrangements or trading times). This buy order shall be restricted to the above-mentioned trading time.

2. Acquisition Details

• (1)Type of shares to be acquired:
  Common stock of Kuraray Co., Ltd.
• (2)Number of shares scheduled to be purchased:
  2,500,000 shares

Notes

• 1. No change shall be made in the number of shares scheduled for acquisition. However, due to market developments or other factors, some or all of the shares may not be acquired.
• 2. The buy order shall be completed pursuant to matching sell orders, up to the number of shares scheduled for acquisition.

3. Announcement of Results of Acquisition

The results of the acquisition shall be announced after completion of the trade at 8.45 a.m. on December 2, 2003.

(Reference)

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