January 31, 2023
For Immediate Release
Company Name:
Kurita Water Industries Ltd.
Representative:
Michiya Kadota, President(Securities code: 6370, Tokyo Stock Exchange Prime Market)
Contact:
Makoto Touryuudani
General Manager of General Affairs
Department(TEL:+81-3-6743-5068 )Notice of Company Split (Simplified Absorption-Type Company Split / Short-Form Absorption-Type Company Split)with Wholly Owned Subsidiary

Kurita Water Industries Ltd. (hereinafter "Kurita") announces that a meeting of the Board of Directors held on
January 31, 2023 resolved to implement a company split in which Land Solution Inc. (hereinafter “Land Solution”) , awholly owned subsidiary of Kurita, will succeed to Kurita’s soil and groundwater remediation business.
As this company split is a company split (simplified absorption-type company split / short-form absorption-typecompany split) with a wholly owned subsidiary, some items and details have been omitted from this press release.

1. Purpose of the company split
Within the Kurita Group, Kurita and Land Solution are mainly responsible for soil and ground water remediation
services. Land Solution’s’ succession to this business will result in the consolidation of management resources and thedevelopment of a structure for quickly meeting customer needs and will also facilitate the expansion and sustainablegrowth of this business through the provision of optimal solutions to customers.
2. Outline of the company split(1) Schedule of the company split
Date of Board resolution for approval of the company split agreement
January 31, 2023
Data of conclusion of the company split agreement
January 31, 2023
Date of the company split (effective date)
April 1, 2023 (Scheduled)(Note) The company split will be conducted without obtaining approval at a general meeting ofshareholders of either company, since it falls under a simplified company split as provided for inArticle 784, Paragraph 2 of the Companies Act for Kurita and under a short-form company split asprovided for in Article 796, Paragraph 1 of the same act for Land Solution.
(2) Form of the company split
The company split is an absorption-type company split in which Kurita is the splitting company and Land Solution
is the succeeding company.
(3) Allocation related to the company split
As this is a company split between Kurita and a wholly owned subsidiary of Kurita, no allocation of shares or otherpayment will be made for the company split.

(4) Treatment of share acquisition rights and bonds with share acquisition rights arising from the company split
Not applicable(5) Change in share capital as a result of the company split
There will be no increase or decrease in Kurita’s share capital as a result of the company split.
(6) Rights and obligations to be assumed by the succeeding company
Land Solution will succeed to the assets, liabilities and other rights and obligations related to the business divested
by Kurita and all related contractual status within the scope provided for in the absorption-type company split
agreement.
(7) Prospect of fulfillment of debt obligations
Kurita has concluded that there is no issue with respect to the certainty of fulfilment of the obligations to be
assumed by Land Solution in the company split.
3. Overview of the companies participating in the company split
Splitting company(As of January 31, 2023)(1) Company Name
Kurita Water Industries Ltd.
(2) Address

Succeeding company(As of January 31, 2023)
Land Solution Inc.

Nakano Central Park East, 10-1, Nakano 4-Chome,Nakano-ku, Tokyo

SI Building Aoyama, 3-6,
Kita-Aoyama 1-Chome,
Minato-ku, Tokyo(3) Name and title of Michiya Kadota, President and Representative Director
Toshimi Kobayashi, President
Representativeand Representative Director(4) Business description Manufacture and sale of water treatment chemicals and Assessments and inspections,water treatment facilities; maintenance of water remediation and construction
treatment facilities; ultrapure water supply, etc.
work, and consulting related
to soil contamination(5) Share capital
13,450 million yen450 million yen(6) Date ofJuly 13, 1949
establishment(7) Number of shares 116,200,694 sharesissued(8) Fiscal year end
March 31

July 27, 2001(9) Major shareholders
and shareholding
ratios

Kurita Water Industries Ltd.
100.0%The Master Trust Bank of Japan, Ltd. (Trust account)
15.01%
Custody Bank of Japan, Ltd. (Trust Account) 6.52%
Nippon Life Insurance Company 5.30%
CACEIS BANK, LUXEMBOURG BRANCH/UCITS CLIENTS ASSETS 2.28%
STATE STREET BANK AND TRUSTCOMPANY 505025 2.04%
MUFG Bank, Ltd. 1.82%
BNP PARIBAS SECURITIES SERVICESLUXEMBOURG/JASDEC/FIM/LUXEMBOURG
FUNDS/UCITS ASSSETS 1.60%
STATE STREET BANK WEST CLIENT - TREATY

9,000 shares
March 31

505234 1.54%
JP MORGAN CHASE BANK 385781 1.30%
Resona Bank, Limited. 1.25%(As of September 30, 2022)(10) Business performance and financial condition in most recent fiscal year
Land Solution Inc. (non-consolidated）

Kurita Water Industries Ltd. (consolidated basis)
Fiscal year end

FY ended March 31, 2022

Fiscal year end(IFRS)FY ended March 31,2022(Japanese GAAP)

Total equity

277,862 million yen Net assets

1,830 million yen

Total assets

469,981 million yen Total assets

2,432 million yen

Equity per share

2,419.58 yen Net assets per share

203,367.17 yen

Net sales

288,207 million yen Net sales

1,146 million yen

Business profit

32,944 million yen Operating loss

△235 million yen

Operating profit

35,734 million yen Ordinary loss

△233 Million yen

Profit attributable to△252 million yen
18,471 million yen Net loss
owners of parent△27,958.60 yen
Basic earnings per
164.38 yen Net loss per share
share(Notes) 1. The ownership percentages of Kurita's major shareholders are calculated after deduction of
3,554,787 shares of treasury shares held by Kurita.
2. Business profit is the Kurita Group's own indicator that measures constant business performance. It is
net sales less cost of sales and selling, general and administrative expenses.
(1) Details of business to be split
Soil and groundwater remediation business(2) Business performance of the division to be split
Net sales: 3,185 million yen (fiscal year ended March 31, 2022)(3) Items and book value of assets and liabilities to be split
AssetsLiabilities
Current assets
4,433 million yen Current liabilities
478 million yen
Non-current assets
42 million yen Non-current liabilities
0 million yenTotal
4,475 million yen Total
478 million yen(Note) The above amounts are estimates based on book value as of December 31, 2022 and the amountsof assets and liabilities actually succeeded to in the split will be the above amounts adjusted for any
increase or decrease occurring prior to the effective date.
4. Status after the company split
There will be no change in the company name, address, name and title of representative, business description(excluding the business transferred in the company split), share capital, or fiscal year end of the Company and Land
Solution after the company split.
5. Future Outlook
Since this company split involves Kurita and a wholly owned subsidiary of Kurita, the impact on Kurita's consolidated
financial results will be minimal.