October 22, 2020
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 ofFinance and 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 thebusiness forecast that it issued on May 18, 2020. 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, 2021
(April 1, 2020 – September 30, 2020)(Million yen)
NetSalesBusiness
ProfitOperating
ProfitProfit
BeforeTaxProfit for
the Period

ProfitAttributableto Ownersof Parent

BasicEarnings
per Share(yen)Previous forecast(A)
Revised forecast(B)

123,000

8,900

8,500

8,600

6,050

6,000

53.43

131,000

14,00016,50016,00011,30011,00097.94

Change (B – A)

8,000

5,100

8,000

7,400

5,250

5,000

－

Percent change (%)

6.5

57.3

94.1

86.0

86.8

83.3

－For reference:First six months ofthe fiscal year ended
March 31, 2020

131,758

13,76818,58818,825

13,533

13,503120.26(2) Revision of the consolidated business forecast for the fiscal year ending March 31, 2021
(April 1, 2020 – March 31, 2021)(Million yen)
Profit for
the Period

ProfitAttributableto Ownersof Parent

BasicEarnings
per Share(yen)

22,60016,35016,000142.4829,00028,00019,50019,000169.15

4,500

6,500

5,400

3,150

3,000

－

0.7

19.1

28.9

23.9

19.3

18.8

－

264,807

26,65427,47926,691

18,312

18,287162.86

Net
SalesBusinessProfitOperating
ProfitProfit
BeforeTaxPrevious forecast(A)
Revised forecast(B)

268,000

23,50022,500270,000

28,000Change (B – A)

2,000

Percent change (%)
For reference:
Fiscal year ended
March 31, 2020

2. Reasons for the revisions
For the first half of the fiscal year ending March 31, 2021, net sales are expected to exceed the previous
forecast, mainly because domestic net sales in the Water Treatment Chemicals business and the maintenanceservices fell less than expected despite the impact of economic stagnation due to the spread of the novel
coronavirus disease (COVID-19). Business profit is expected to be higher than the previous forecast, becauseselling, general and administrative expenses were lower than expected due to employees working from home,restrictions on moving, etc., as well as a smooth improvement in the cost of sales ratio. In addition, theoperating profit and all other profit items are also expected to be significantly higher than the previousforecast, because profit from liquidation was recorded in other revenue resulting from the cancellation ofcontracts with certain customer in the ultrapure water supply business.
For the full fiscal year ending March 31, 2021, net sales are expected to remain at the same level as theprevious forecast, as we anticipate that a full-fledged recovery will take time due to the re-expansion of theCOVID-19 while a moderate recovery is expected toward the end of the fiscal year as economic activities
resume in countries around the world.
Profits are expected to exceed the previous forecast, based on the progress of business results in the firsthalf of the fiscal year.
The dividend forecast remains unchanged.
Note) These forecasts are based on our company's judgment based on currently available information andmay differ from actual results due to changes in various factors.