October 22, 2021
For Immediate Release
Company Name:
Representative:
Securities Code:Contact:

Kurita Water Industries Ltd.
Michiya Kadota, President
6370, First Section of TSE
Shinichi Masuda
General Manager of Corporate
Accounting Department（Tel. +81-3-6743-5054）

Kurita Water Industries Announces Revision of Business Forecast

Kurita Water Industries Ltd. announces that, in light of its recent operating performance, it has revised the business
forecast that it issued on May 6, 2021. Details are as follows:
1. Business Forecast Revision(1) Revision of consolidated business forecast for the first six months of fiscal year ending March 31, 2022
(April 1, 2021 – September 30, 2021)(Million yen)
ProfitBasicProfitNet
Business
Operating
AttributableEarnings
BeforeSales
ProfitProfitto Owners
per Share
Taxof Parent（yen）
Previous forecast
128,000
14,00013,50013,100
8,600
76.55
(A)
Revised forecast
135,200
14,85014,700
11,100
5,700
50.73
(B)
Change (B – A)

7,200

850

1,200

- 2,000- 2,900－

Percent change (%)

5.6

6.1

8.9

- 15.3- 33.7－For reference:First six months ofthe fiscal year ended
March 31, 2021

131,012

13,60116,021

15,404

10,60794.44(Note) The Company finalized the provisional accounting treatment for business combinations as of March 31, 2021 andfigures for the first six months of the fiscal year ended March 31, 2021 reflect the finalization of provisional
accounting treatment.

(2) Revision of the consolidated business forecast for the fiscal year ending March 31, 2022
(April 1, 2021 – March 31, 2022)

Previous forecasts(A)
Revised forecast(B)
Change (B – A)
Percent change (%)
For reference:
Fiscal year ended
March 31, 2021

Profit
BeforeTaxProfit
Attributableto Ownersof Parent(Million yen)
BasicEarnings
per Share（yen）

Net Sales

BusinessProfit

Operating
Profit276,000

33,00032,00031,30021,100187.82

289,000

33,00032,00028,10018,000160.1913,00000- 3,200- 3,100

－

4.7

0.0

0.0

- 10.2- 14.7－267,749

29,47031,52929,15019,088169.94

2. Reason of the revisions
For the first half of the fiscal year ending March 31, 2022, capital expenditure by customers in the electronics
industry and capacity utilization rates were strong and the yen was also weaker than initially anticipated. As aresult, net sales for the first six months are expected to exceed the previously announced forecast. On the profit
front, rising raw materials prices and higher selling, general and administrative costs were offset by increased net
sales and improvement in the cost of sales ratio in the Water Treatment Facilities business and as a result bothbusiness profit and operating profit are expected to exceed the previously announced forecast. However, due to theretrospective measurement (fair value valuation) of liabilities pertaining to a forward contract concluded with
non-controlling shareholders of U.S.-based Pentagon Technologies Group, Inc., the Company will record financial
expenses of 3.6 billion yen in the current second quarter. Accordingly, profit before tax and profit attributable toowners of parent are both expected to be lower than the previously announced forecast.
Turning to the business forecast for the fiscal year ending March 31, 2022, net sales are expected to exceed theinitially announced forecast on the assumption that demand in the electronics industry holds firm and exchange
rates remain at their current levels. However, forecasts for business profit and operating profit are unchanged fromthose previously announced on the expectation of greater than initially anticipated deterioration in the cost of sales
ratio mainly due to rising raw material prices and higher than initially expected selling, general andadministrative expenses. Profit before tax and profit attributable to owners of parent are both likely to be lower
than the previously announced forecast due to recording of the abovementioned financial expenses.
The dividend forecast remains unchanged.
Note) These forecasts are based on our company's judgment based on currently available information and may differ
from actual results due to changes in various factors.