Business Results for the Fiscal Year Ended
December 31, 2023 (Unaudited)

February 8, 2024
KURARAY CO., LTD.

February 8, 2024
KURARAY CO., LTD.

Consolidated Earnings Report for the Fiscal Year Ended December 31, 2023
Name of listed company:
Stock code:
Stock exchange listing:
URL:

KURARAY CO., LTD.
3405
Tokyo Stock Exchange, Prime Market
https://www.kuraray.com/

Representative:
Title:
Name:

Representative Director and President
Hitoshi Kawahara

Contact:
Title:

Senior Manager, Corporate Communications Department, Corporate
Management Planning Office
Shinichi Takizawa+81-3-6701-1070

Name:
Tel:

Preparation of supplementary documentation for the earnings report: Yes
Holding of earnings results briefing: Yes (for securities analysts and institutional investors)(Millions of yen rounded down unless otherwise stated)

1. Consolidated Financial Results for the Fiscal Year Ended December 31, 2023
(January 1, 2023 to December 31, 2023)(1) Consolidated Operating Results(Percentage changes displayed for net sales, operating income, ordinary income and net income attributableto owners of the parent are comparisons with the previous fiscal year.)(Millions of yen)
Net Sales

Operating Income(%)

Fiscal 2023
Fiscal 2022

780,938
756,376

Note: Comprehensive income:Net Income per
Share (Yen)
Fiscal 2023
Fiscal 2022

126.80161.13

3.2
75,475―87,139For fiscal 2023:
For fiscal 2022:
Fully Diluted Net
Income per Share(Yen)
126.71161.00[Reference] Equity in earnings of affiliate:(%)(13.4)―Net Income
Attributable to Ownersof the Parent(%)(21.8)
42,446―54,307

Ordinary Income(%)(17.9)―¥ 84,134 million(-25.8%)¥113,371 million(―%)
69,02584,060Return on Total
Assets (%)

Return on
Equity (%)
6.2
9.0

5.6
7.3

Operating
Income/Net Sales
(%)
9.7
11.5

For fiscal 2023: ¥200 million
For fiscal 2022: ¥271 million
Note: Due to the adoption of the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29;
March 31, 2020) from January 1, 2022, the figures for fiscal 2022 onward reflect the application of the newly
applied accounting standard. Therefore, the rate of change from fiscal 2021 is not shown.

(2) Consolidated Financial Position(Millions of yen)
Total Assets

Net Assets

Equity Ratio (%)

Net Assets per Share(Yen)

Fiscal 2023

1,254,485

736,15656.9

2,133.75

Fiscal 2022

1,221,533

668,53452.9

1,932.37[Reference] Equity attributable to owners of the parent:

For fiscal 2023:
For fiscal 2022:¥714,285 million¥646,750 million(3) Consolidated Cash Flows(Millions of yen)
Cash Flows fromOperating Activities

Cash Flows from
Investing Activities

129,298
51,727

Fiscal 2023
Fiscal 2022

Cash Flows from
Financing Activities(63,151)(68,624)(64,959)(12,053)

Cash and Cash
Equivalents at End of
Period133,663
127,616

2. Dividends(Yen)
Cash Dividends per ShareJun. 30
Sep. 30
Dec. 31

Record Date

Mar. 31AnnualFiscal 2022
Fiscal 2023
Fiscal 2024
(Forecast)

―
―

21.00
25.00

―
―

23.00
25.00

44.00
50.00

―

25.00

―

25.00

50.00

Total
Dividends
Paid(full year)(¥ million)
14,726
16,737

Payout Ratio(consolidated)(%)

Dividends/Net
Assets(consolidated)
(%)

27.3
39.4

2.5
2.5

35.6

3. Forecasts of Consolidated Financial Results for the Fiscal Year Ending December
31, 2024 (January 1, 2024 to December 31, 2024)(Percentage changes displayed for net sales, operating income, ordinary income and net income attributableto owners of the parent are comparisons with the previous fiscal year.)(Millions of yen)
Net SalesInterim Period
Full Fiscal Year

400,000
830,000

Operating Income

(%)
5.0
6.3

40,00083,000

(%)
(2.4)
10.0

Ordinary Income

37,00077,000Net Income
Net Income
Attributable toper Share
Owners of the Parent
(Yen)
(%)
(%)
(4.0)
23,000
5.3
68.71
11.6
47,00010.7
140.40[Reference](1) Changes in Important Subsidiaries during the Period (Changes in Special Subsidiaries
Involving Changes in the Scope of Consolidation)
No(2) Changes in Accounting Principles, Procedures and Presentation Methods in Connection with
the Preparation of Consolidated Financial Statements
1. Changes following revision of accounting standards: No
2. Changes besides 1. above: No
3. Changes in accounting estimates: No
4. Restatement: No(3) Number of Shares Issued and Outstanding (Common Shares)
1. Number of shares issued and outstanding (including treasury shares) as of the period-end:
As of December 31, 2023
354,863,603 shares
As of December 31, 2022
354,863,603 shares
2. Number of treasury shares as of the period-end:
As of December 31, 2023
20,107,257 shares
As of December 31, 2022
20,171,061 shares
3. Average number of shares for the period (cumulative):
As of December 31, 2023
334,741,276 shares
As of December 31, 2022
337,050,748 shares[Reference]
Summary of Unconsolidated Results
1. Unconsolidated Results for Fiscal 2023 (January 1, 2023 – December 31, 2023)(Percentages displayed for net sales, operating income, ordinary income and net income are comparisonswith the previous fiscal year.)(1) Unconsolidated Operating Results(Millions of yen)
Net Sales
Fiscal 2023
Fiscal 2022

253,693
253,982
Net Income
per Share (Yen)(Change)(0.1)―

Operating Income(Change)
7,708(78.2)
35,328―

Ordinary Income(Change)
12,022(69.3)
39,151―Net Income(Change)
8,461(69.8)
28,026―

Fully Diluted
Net Income
per Share (Yen)
25.26
83.09

Fiscal 2023
25.28
Fiscal 2022
83.15
Note: Due to the adoption of the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29;

March 31, 2020) from January 1, 2022, the figures for fiscal 2022 onward reflect the application of the newly
applied accounting standard. Therefore, the rate of change from fiscal 2021 is not shown.

(2) Unconsolidated Financial Position(Millions of yen)
Shareholders’
Net Assets
Equity Ratio (%)
per Share (Yen)
1,033,558
398,81238.6
1,190.33
Fiscal 2023
1,010,196
405,32240.1
1,210.01
Fiscal 2022
[Reference] Shareholders’ equity:
For fiscal 2023: ¥398,471 million
For fiscal 2022: ¥404,981 million
Total Assets

Net Assets

Note: It is not required that this type of earnings report be audited.
Cautionary Statement with Respect to Forecasts of Consolidated Business Results(Cautionary note regarding forward-looking statements)
The results forecasts presented in this document are based upon currently available information andassumptions deemed rational. A variety of factors could cause actual results to differ materially from forecasts.
Please refer to “1. Qualitative Information regarding Business Results (4) Outlook for Fiscal 2024” on page 8of the Attachment for the assumptions used.
Access to Documents and Other Materials Relating to the Year-End Results Briefing to Be Held on February 8, 2024
Supplementary results presentation materials will be disclosed on TDnet and posted on the Company’s website on the day
results are announced.

Index of the Attachment
1. Qualitative Information regarding Business Results .................................................................

2(1) Overview of Consolidated Business Results..........................................................................

2(2) Overview of Financial Position ...............................................................................................

6(3) Overview of Cash Flows ........................................................................................................

6(4) Outlook for Fiscal 2024 ..........................................................................................................

8(5) Basic Policies Related to Profit Distribution and Dividends in Fiscal 2023 and 2024.............

9

2. Management Policies ...............................................................................................................

9(1) Fundamental Management Policies .......................................................................................

9(2) Management Indicator Targets, Medium- to Long-Term Strategies
and Issues to Be Addressed ................................................................................................

9

3. Basic Approach to Selection of Accounting Standards .............................................................

10

4. Consolidated Financial Statements and Notes .........................................................................

11(1) Consolidated Balance Sheets ................................................................................................

11(2) Consolidated Statements of Income and Consolidated Statementsof Comprehensive Income .....................................................................................................

13(3) Consolidated Statements of Changes in Net Assets .............................................................

15(4) Consolidated Statements of Cash Flows ...............................................................................

17(5) Notes regarding Consolidated Financial Statements .............................................................

19

Notes regarding Going Concern Assumptions .......................................................................

19

Changes in Presentation Methods .........................................................................................

19

Additional Information ............................................................................................................

20

Segment and Other Information .............................................................................................

21

Per Share Information ............................................................................................................

26

Significant Subsequent Information .......................................................................................

26

1

1. Qualitative Information regarding Business Results(1) Overview of Consolidated Business Results
In the fiscal year ended December 31, 2023 (“fiscal 2023”), the trend toward deceleration in theworld economy strengthened in the latter half of the year due in part to economic stagnation causedby continued financial tightening in Europe, slowing growth caused mainly by stagnation in the realestate market in China, and geopolitical tensions in various places around the world.
Amid these circumstances, consolidated operating results for fiscal 2023, are as follows: net sales
increased ¥24,562 million (3.2%) year on year to ¥780,938 million; operating income decreased¥11,663 million (13.4%) year on year to ¥75,475 million; ordinary income decreased ¥15,035 million(17.9%) year on year to ¥69,025 million; and net income attributable to owners of the parent
decreased ¥11,861 million (21.8%) year on year to ¥42,446 million.
The Group works to tackle the three challenges outlined in the medium-term management plan
“PASSION 2026,” which was launched in fiscal 2022: 1) Sustainability as an opportunity, 2)Innovations starting from networking, and 3) Transformation of people and organization. Throughthese efforts, the Group aims to achieve sustainable growth by contributing to customers, society,and the world.
Regarding the civil lawsuits related to the fire that occurred at a U.S. subsidiary in May 2018, wereached settlements with the remaining plaintiffs in April 2023, except for one for which a motion todismiss was expected to be granted. Accordingly, in fiscal 2023, we recorded an extraordinary lossof ¥7,806 million as loss on litigation related to the lawsuits, etc. The motion to dismiss theindividual’s lawsuit was granted in July 2023. The lawsuits have therefore been resolved.
(Millions of yen)
FY2022

FY2023

Vinyl Acetate

385,345

Operating
Income77,547Isoprene

65,635Functional

Change406,771

Operating
Income86,344

21,426

Operating
Income
8,796

4,270

65,683(10,871)47(15,141)

174,059

8,574

189,794

10,323

15,734

1,748

Fibers and Textiles

66,8596,736

61,8581,827(5,001)(4,909)Trading

58,844

5,121

61,588

5,183

2,743

62

Others52,051

2,679

45,672506(6,378)(2,173)Elimination &(46,420)(17,792)(50,430)(17,839)(4,010)(46)

756,376

87,139780,938

75,47524,562(11,663)

Net Sales

Materials

Corporate
Total

Net Sales

2

Net Sales

Results by Business Segment
Vinyl Acetate
Sales in this segment were ¥406,771 million (up 5.6% year on year), and segment income was¥86,344 million (up 11.3% year on year).

(1) We further promoted a shift to high value-added products for PVOH resin. However, sales
volume declined due to receding demand, especially in Europe and the United States.
Shipments of optical-use poval film recovered in stages due to inventory adjustments for LCD
panels returning to normal. As for Advanced Interlayer Solutions, although demand for PVB film
showed signs of receding for construction applications, mainly in Europe, demand forautomotive applications remained firm. Shipments of water-soluble PVOH film showed signs ofrecovery in the latter half of the year despite continued inflation-driven belt tightening and othereffects.
(2) As for EVAL™ ethylene vinyl alcohol copolymer (EVOH resin), although sales for automotive
applications remained firm, sales volume decreased due in part to a temporary drop in demand
for food packaging applications in the latter half of the year.
Isoprene
Sales in this segment were ¥65,683 million (up 0.1% year on year), and segment loss was ¥10,871
million (compared with segment income of ¥4,270 million in the previous fiscal year). In addition, a
new plant in Thailand began operations in stages from February.

(1) Results for isoprene chemicals and elastomer were affected by intensifying competition in
addition to stagnant demand.
(2) Regarding GENESTAR™ heat-resistant polyamide resin, although demand for automotive
applications were on a recovery track, there was a delay in recovery for demand for electric and3electronic device applications.
Functional Materials
Sales in this segment were ¥189,794 million (up 9.0% year on year), and segment income was¥10,323 million (up 20.4% year on year).

(1) In the methacrylate business, results were affected by higher raw material and fuel prices in
addition to a delay in demand recovery for electric and electronic devices.
(2) In the medical business, sales of cosmetic dental materials, mainly in Europe and the UnitedStates, remained brisk.
(3) In the environmental solutions business, despite the effects of economic deceleration in Europe,demand increased for drinking water and other applications in North America, and sales ofactivated carbon remained steady.
Fibers and Textiles
Sales in this segment were ¥61,858 million (down 7.5% year on year), and segment income was¥1,827 million (down 72.9% year on year).

(1) Shipments of CLARINO™ man-made leather decreased due to the effects of lower demand for
luxury applications despite a continued recovery in automotive and sports applications.
(2) In fibers and industrial materials, sales of KURALON™ were weak in Europe, but we saw signsof recovery for automotive applications in the United States and other countries. In addition,
sales of VECTRAN™ remained stable, especially with regard to exports.
(3) In consumer goods and materials, demand for KURAFLEX™ in the restaurant industry was
weak.

4

Trading
Sales in this segment were ¥61,588 million (up 4.7% year on year), and segment income was¥5,183 million (up 1.2% year on year).

(1) In fiber-related businesses, the materials business struggled, but sales of sportswear applications
remained brisk.
(2) Sales of resins and chemicals in Asia expanded in the latter half of the fiscal year.
OthersIn Others, net sales were ¥45,672 million (down 12.3% year on year), and operating income was¥506 million (down 81.1% year on year).

5(2) Overview of Financial Position
Total assets increased ¥32,952 million from the end of the previous fiscal year to ¥1,254,485 million
due to factors that include a ¥14,415 million increase in property, plant and equipment and a ¥7,420
million rise in cash and deposits. Total liabilities decreased ¥34,669 million to ¥518,329 million due tofactors that included a ¥42,380 million decrease in interest-bearing debt.
Net assets rose ¥67,621 million to ¥736,156 million due in part to an increase in foreign currencytranslation adjustment and retained earnings. Equity attributable to owners of the parent amounted to¥714,285 million, for an equity ratio of 56.9%.
(3) Overview of Cash Flows
Cash Flows from Operating Activities:
Net cash provided by operating activities totaled ¥129,298 million. Cash provided included ¥61,273
million from income before income taxes and noncontrolling interests. Cash used included ¥77,163
million in depreciation and amortization, ¥23,180 million in income taxes paid, and ¥12,842 million inloss on litigation.
Cash Flows from Investing Activities:
Net cash used in investing activities totaled ¥63,151 million. Contributing factors included ¥59,027
million used for the purchase of tangible fixed assets and intangible fixed assets.
Cash Flows from Financing Activities:
Net cash used in financing activities was ¥64,959 million. Contributing factors included a ¥45,388
million decrease in interest-bearing debt and cash dividends paid totaling ¥16,066 million.
The above factors along with the effect of exchange rate changes on cash and cash equivalents
resulted in a ¥6,046 million increase in cash and cash equivalents at the end of the fiscal year to¥133,663 million.

6

(Millions of yen)
Fiscal Year Ended
December 31, 2022
51,727

Fiscal Year Ended
December 31, 2023
129,298

Net cash used in investing activities(68,624)(63,151)

Net cash used in financing activities(12,053)(64,959)

4,943

4,858

(24,006)

6,046

151,487

127,616

136-

127,616

133,663

Net cash provided by operating activities

Effect of exchange rate changes on cash andcash equivalents
Net increase in cash and cash equivalents
Cash and cash equivalents, beginning of theperiodIncrease in cash and cash equivalents fromnewly consolidated subsidiaries
Cash and cash equivalents, end of the period[Reference] Cash Flow Indicators for the Kuraray Group

Equity ratio (%)
Equity ratio (%;market basis)
Ratio of cash flow tointerest-bearing
liabilities (%)
Interest coverage
ratio (times)

Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
Fiscal Year
Ended
Ended
Ended
Ended
Ended
December 31, December 31, December 31, December 31, December 31,
2019
2020
2021
2022
2023
53.0
47.4
51.3
52.9
56.9
46.2

35.9

31.5

29.0

38.0

2.5

4.3

3.9

6.3

2.2

68.5

57.0

50.9

43.6

57.3

Notes:
Equity ratio: Total net assets excluding both subscription rights to shares and noncontrollinginterests/total liabilities and net assets
Equity ratio (market basis): Total market value of shares issued and outstanding/total net assets
Ratio of cash flow to interest-bearing liabilities: Interest-bearing liabilities/net cash provided by(used in) operating activities
Interest coverage ratio: Net cash provided by (used in) operating activities/interest expenses
1. All indicators are calculated using the consolidated financial statements.
2. The total market value of shares issued and outstanding was calculated by multiplying theclosing price at the end of the fiscal year by the total number of shares issued and outstanding(after subtracting treasury stock) at the end of the fiscal year.
3. The calculations use net cash provided by (used in) operating activities as reported in the
consolidated statements of cash flows.
4. Interest-bearing liabilities are all liabilities reported in the consolidated balance sheets that
require the payment of interest.

7

(4) Outlook for Fiscal 2024
The outlook for the economic environment over the next year is expected to gradually head toward a
recovery in the latter half of the year due to efforts to revise financial policies amid easing inflationpressure despite ongoing uncertainty, such as geopolitical risks in various places around the worldand economic stagnation in China.
Amid this situation, the Group will continue to promote measures in line with its medium-term
management plan “PASSION 2026.” In addition to an isoprene base in Thailand, we will swiftly begin
stable operations of new activated carbon manufacturing equipment in the United States, optical-use
poval film productions facilities, and the new water soluble PVOH film plant in Poland, and connect
these operations to profit expansion.
Based on these circumstances, the outlook for fiscal 2024 is as follows.
(Billions of yen, rounded to the nearest hundred million)
Forecast for
Fiscal 2023
Change (Adjusted)
Fiscal 2024
780.9
830.0
6.3%
75.5
83.0
10.0%
69.0
77.0
11.6%

Net sales
Operating income
Ordinary income
Net income attributable to
42.4
47.0
10.7%
owners of the parent
For the forecast of operating results for fiscal 2024, we assume average exchange rates of ¥145 to
the U.S. dollar and ¥160 to the euro, as well as a domestic naphtha price of ¥75,000 per kiloliter.

[Reference] Forecast of Results by Segment for Fiscal 2024
(Billions of yen, rounded to the nearest hundred million)
Net Sales
Operating Income
Forecast for
Forecast for
Fiscal 2023
Fiscal 2023
Fiscal 2024
Fiscal 2024
Vinyl Acetate
406.8
416.0
86.3
84.0
Isoprene
65.7
76.0(10.9)(9.0)
Functional Materials
189.8
210.0
10.3
13.5
Fibers and Textiles
61.9
72.0
1.8
4.0
Trading
61.6
66.0
5.2
5.5
Others
45.7
43.0
0.5
2.0
Elimination &(50.4)(53.0)(17.8)(17.0)
Corporate
Total
780.9
830.0
75.5
83.0
Note: The above forecasts are based on the best information currently available. Actual
operating results may vary significantly due to various factors.

8(5) Basic Policies Related to Profit Distribution and Dividends in Fiscal 2023 and 2024
The Company positions the distribution of profits to all shareholders as a priority management issue.
During the period of the medium-term management plan “PASSION 2026” (FY2022–FY2026), ourbasic policy is to ensure a total return ratio of at least 35% as a proportion of net income attributableto owners of the parent, and an annual dividend of at least ¥40 per share.
For fiscal 2023, we plan to pay out an annual dividend of ¥50 per share comprising an interim dividendof ¥25 and a year-end dividend of ¥25.
For fiscal 2024, we plan to pay out an annual dividend of ¥50 per share comprising an interim dividendof ¥25 and a year-end dividend of ¥25, premised on net income attributable to owners of the parent¥47.0 billion.
2. Management Policies(1) Fundamental Management Policies
Kuraray’s mission in its corporate statement is: “For people and the planet—to achieve what no one
else can.” Based on this, the Company aims to be a “Specialty Chemical Company contributing tocustomers, society and the planet and growing sustainably by incorporating new innovation platforms
into its own technologies.” This is the Kuraray Vision 2026 long-term vision, which we aim to realizeby 2026, the centennial of the Company's founding.
(2) Management Indicator Targets, Medium- to Long-Term Strategies and Issues to Be
Addressed
In the five-year medium-term management plan “PASSION 2026,” which began from fiscal 2022, theGroup set the three challenges to tackle listed below to realize its long-term Kuraray Vision 2026.
1) Sustainability as an opportunity
Take sustainability as an opportunity and promote it with the collective strength of the whole group
2) Innovations starting from networking
Create a growth driver by connecting people with people, and technologies with technologies, bothoutside and within the Company
3) Transformation of people and organization
Transform people and organization via the digital-driven process innovation and the promotion ofdiversity which will, in turn, help us bring to bear a broad range of ideas
In fiscal 2024, which is the third year of “PASSION 2026,” we will swiftly begin stable operations at the
new activated carbon manufacturing facility in the United States, optical-use poval film production facilities,
and water-soluble PVOH film production base in Poland in addition to the isoprene base in Thailand. We
will also hold deeper discussions about further upgrading our business portfolio. The Group will continue
taking on such challenges as a sustainably growing specialty chemical company looking toward thecentennial in 2026.
In addition, since its founding, the Group has conducted management that contributes to sustainable
development by aiming to improve natural and living environments through business activities.
We consider sustainability a key management strategy. We select material issues to prioritize for thesustainable development of the Company and society at the management level and work to solve these9issues as a unified company.
Under the medium-term management plan “PASSION 2026,” the Group has put together and is
implementing a medium-term sustainability plan comprising measures related to sustainability.
We have announced our support of the recommendations of the Task Force on Climate-Related Financial
Disclosures (TCFD) and are diligently working on the four items suggested: governance, strategy, risk
management, and indicators and targets. The Group proactively promotes sustainability and will continue
contributing to the natural environment and the enriched lives of people everywhere through its highly
unique technologies and products. Details of the Group’s sustainability-related initiatives and disclosures
based on the TCFD framework are uploaded on the Company’s official website.
Kuraray Report (Integrated report) https://www.kuraray.com/csr/report_backnumber
Sustainability Website
https://www.kuraray.com/csr
Sustainability Medium-term Plan
https://www.kuraray.com/csr/report2023/4p-model
In addition, there was a fire that resulted in injuries of outside contract workers at a U.S. subsidiary in May
2018, and multiple civil lawsuits were filed seeking damages. In April 2023, all of the lawsuits that had
been active were resolved and the litigation came to a close. A large number of outside contract workers
were injured in this accident and resolution took around five years, with the final settlement coming toabout ¥80.0 billion. In light of the resolution of this litigation, Kuraray established the Accident Investigation
Committee, centered on external officers (independent officers), conducted an investigation, andannounced a summary of the results in December 2023 in a release entitled, “U.S. EVAL Plant Fire Incident
Investigation Results.” Based on these results, we steadily implement measures to ensure a similar
accident never occurs. In addition, by rolling out the results of the investigation into this accident acrossthe Group, we aim to further strengthen the entire Group’s safety and risk management systems.

3. Basic Approach to Selection of Accounting Standards
The Kuraray Group applies Japanese generally accepted accounting principles (“GAAP”). The
Kuraray Group is considering the adoption of International Financial Reporting Standards (“IFRS”)
and other matters while taking into account various circumstances in Japan and overseas.

10

4. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets(Millions of yen)
December 31, 2022

December 31, 2023

123,724

131,144

157,016

161,904

4,852

3,478

Merchandise and finished goods

145,851

146,924

Work in process

19,07817,502

Raw materials and supplies

60,10463,601

Other

23,81528,040

(510)

(869)

533,933

551,727

Buildings and structures, net

94,745110,214

Machinery, equipment and vehicles, net

219,200

270,408Land

23,264

22,618Construction in progress

137,424

80,344

Other, net

37,92643,390Total property, plant, and equipment

512,562

526,977

Goodwill

56,05855,386

Customer-related assets

30,432

29,149Other

34,99335,965

Total intangible assets

121,484

120,501

23,19423,96697

140

Retirement benefit asset

2,104

3,227

Deferred tax assets

16,718

16,530Other

11,458

11,509(20)(95)

53,55355,278687,600

702,757

1,221,533

1,254,485

ASSETS
Current Assets
Cash and deposits
Notes and accounts receivable–trade, and contract
assetsSecurities

Allowance for doubtful accounts
Total current assets
Non-current Assets
Property, plant and equipment

Intangible assets

Investments and other assets
Investment securities
Long-term loans receivable

Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total Assets

11

(Millions of yen)
December 31, 2022

December 31, 2023

Notes and accounts payable–trade

52,717

49,124

Short-term borrowings

34,48040,014

Commercial paper

10,000―Current portion of bonds payable

10,000―Current portion of long-term borrowings

30,434

24,698

Accrued expenses

21,075

16,734

Income taxes payable

11,37011,033

Provision for bonuses

9,132

10,275

Other42,11948,690Total current liabilities
Non-current Liabilities

221,330

200,571

Bonds payable

60,00060,000Long-term borrowings

179,491

157,312Deferred tax liabilities

17,27918,754Retirement benefit liability

25,62629,487

Asset retirement obligations

5,303

6,338

Other

43,96845,864

331,668

317,757

552,998

518,329

Share capital

88,95588,955

Capital surplus

87,15287,146

Retained earnings

399,910426,290

Treasury shares(25,735)(25,654)550,282

576,737

5,769

6,856

611

(53)

90,555

131,269

LIABILITIESCurrent Liabilities

Total non-current liabilities
Total Liabilities
NET ASSETS
Shareholders’ Equity

Total shareholders’ equity
Accumulated Other Comprehensive Income
Valuation difference on available-for-sale securities
Deferred gain or losses on hedges
Foreign currency translation adjustment

(468)

(524)

96,467

137,548

Share Acquisition Rights

341

341

Non-controlling Interests

21,443

21,529Remeasurements of defined benefit plans
Total accumulated other comprehensive income

Total Net Assets
Total Liabilities and Net Assets

12668,534

736,156

1,221,533

1,254,485

(2)Consolidated Statements of Income and Consolidated Statements ofComprehensive Income
Consolidated Statements of Income

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Selling expenses
General and administrative expenses
Total selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange loss
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Insurance claim income
Compensation income
Gain on sale of investment securities
Gain on sale of shares of subsidiaries and associates
Total extraordinary income
Extraordinary losses
Loss on litigation
Impairment loss
Loss on disposal of tangible non-current assets
Costs related to the suspension of operations
Loss on disaster
Total extraordinary losses
Income before income taxes and non-controlling interests
Income taxes—current
Income taxes—deferred
Total income taxes
Net income
Net income (loss) attributable to non-controlling interests
Net income attributable to owners of the parent

13

Fiscal 2022
(January 1, 2022 –December 31, 2022)
756,376
514,713
241,663(Millions of yen)
Fiscal 2023
(January 1, 2023 –December 31, 2023)
780,938
540,956
239,982

46,678107,845
154,524
87,13942,137
122,369
164,506
75,475

450
714
271
2,091
3,527

1,841
779
200
930
3,751

1,457
1,021
4,127
6,606
84,060

2,815
2,611
4,774
10,202
69,025

1,415
―
2,614
―
4,030

2,781
1,216
891
715
5,604

1,819
1,385
450
5,785
653
10,094

7,806
4,390
1,159
―
―
13,35677,997
21,232
1,155
22,38855,6081,300
54,307

61,27318,079908
18,98742,285(160)
42,446

Consolidated Statements of Comprehensive Income(Millions of yen)

Net income

Fiscal 2022
(January 1, 2022 –December 31, 2022)

Fiscal 2023
(January 1, 2023 –December 31, 2023)

55,60842,285(1,504)

1,087

Other comprehensive income
Valuation difference on available-for-sale securities

645

(676)

Foreign currency translation adjustment

56,63841,326

Remeasurements of defined benefit plans, net of tax

1,822

(55)

160

166

57,762

41,848113,371

84,134110,925

83,527

2,446

606

Deferred gains or losses on hedges

Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income
Quarterly comprehensive income
Comprehensive income attributable to:
Owners of the parent
Non-controlling interests14(3) Consolidated Statements of Changes in Net Assets
Fiscal 2022 (January 1, 2022 – December 31, 2022)(Millions of yen)

Balance at January 1, 2022
Cumulative effect ofchanges in accounting
policies
Restated balance

Capitalstock
88,955

Capitalsurplus87,166(388)
88,95587,166

Changes of items during
the period
Cash dividends
Net income attributableto owners of the parent
Changes resulting fromadditions toconsolidation
Purchase of treasury
stock
Disposal of treasury
stock
Balance at December
31, 2022
Balance at January 1, 2022
Cumulative effect ofchanges in accounting
policies

Shareholders’ equity
Retained
Treasury stockearnings
359,898(15,885)359,509

Total shareholders’equity520,134(388)(15,885)

519,745(13,908)(13,908)

54,30754,3072

2(14)(10,002)(10,002)

152

138

―

(14)

40,401(9,849)30,537

88,95587,152399,910(25,735)

550,282

Accumulated other comprehensive income
Valuation Deferred
Foreign
RemeasureTotal
Nondifference gains orcurrency
ment ofaccumulated Subscription
Total netrights tocontrollingonlosses on translation defined benefit
other
assetssharesinterests
available-for hedges adjustment
planscomprehensive
saleincomesecurities
Balance at January 1, 2022
7,273
219
34,648(2,291)
39,850414
19,203 579,602
Cumulative effect ofchanges in accounting
policies(388)
Restated balance
7,273
219
34,648(2,291)
39,850414
19,203 579,213
Changes of items during
the period
Cash dividends(13,908)
Net income attributableto owners of the parent
54,307
Changes resulting fromadditions toconsolidation
2
Purchase of treasury
stock(10,002)
Disposal of treasury
stock
138
Net changes of items
other thanshareholders’ equity(1,504)392
55,906
1,822
56,617(73)
2,240
58,783
Total changes of items
during the period(1,504)392
55,906
1,822
56,617(73)
2,240
89,321
Balance at December 31,
2022
5,769
611
90,555(468)
96,467341
21,443 668,534

15

Fiscal 2023 (January 1, 2023 – December 31, 2023)(Millions of yen)

Balance at January 1, 2023
Changes of items during
the period
Cash dividends
Net income attributableto owners of the parent
Purchase of treasury
stock
Disposal of treasurystock
Net changes of items
other thanshareholders’ equity
Total changes of items
during the period
Balance at December 31,
2023

Capitalstock
88,955

Capitalsurplus87,152

Shareholders’ equity
Retained
Treasury
earnings
stock399,910(25,735)

Total shareholders’equity550,282(16,066)(16,066)

42,44642,446

(6)

(4)

(4)

85

79

―

(6)

26,37980

26,454

88,95587,146426,290(25,654)576,737

Accumulated other comprehensive income
Valuation
Deferred Foreign
RemeasureTotal
Subscription
Nondifference on gains or currency
ment ofaccumulated
rights tocontrolling
available-for losses on translation defined benefit
othersharesinterestssalehedges adjustment
planscomprehensive
securities
incomeBalance at January 1, 2023
5,769
611
90,555(468)
96,467341
21,443
Changes of items during
the period
Cash dividends
Net income attributableto owners of the parent
Purchase of treasury
stock
Disposal of treasurystock
Net changes of items
other thanshareholders’ equity
1,087
(664)
40,714(55)
41,081
86
Total changes of items
during the period
1,087
(664)
40,714(55)
41,081
86
Balance at December 31,
2023
6,856
(53)
131,269(524)
137,548
341
21,52916

Total net
assets668,534(16,066)
42,446(4)
79
41,167
67,621
736,156

(4) Consolidated Statements of Cash Flows(Millions of yen)
Fiscal 2022
(January 1, 2022 –December 31, 2022)

Fiscal 2023
(January 1, 2023 –December 31, 2023)

Net cash provided by (used in) operating activities
Income before income taxes and noncontrolling interests

77,997

61,273

Depreciation and amortization

65,456

77,1639402

Loss (gain) on sale of investment securities(2,614)(891)

Loss on litigation

1,819

7,806

Impairment loss

1,385

4,390

450

1,159

Foreign exchange losses (gains)(2,777)(3,324)

Interest and dividend income(1,165)(2,621)

Interest expenses
Decrease (increase) in notes and accounts receivable –
trade

1,457

2,815

(12,500)

2,111(54,716)

8,363

Increase (decrease) in notes and accounts payable – trade691(5,122)

Increase (decrease) in provision for bonuses

632

825

Increase (decrease) in net defined benefit liabilities

678

1,751

Decrease (increase) in net defined benefit assets

664

(274)

Other, net(4,771)

9,146

Subtotal

72,696

164,976

Interest and dividends received

1,246

2,602

Interest paid

(1,186)(2,257)

Income taxes (paid) refund(19,453)(23,180)

Payments for loss on litigation(1,575)(12,842)

Net cash provided by (used in) operating activities

51,727129,298

3,350

-

3,336

1,907

(71,635)(59,027)(1,022)(1,524)613

214

Other, net(3,266)(4,720)Net cash provided by (used in) investing activities(68,624)(63,151)

Increase (decrease) in allowance for doubtful accounts

Loss on disposal of tangible fixed assets

Decrease (increase) in inventories

Net cash provided by (used in) investing activities
Net decrease (increase) in time deposits
Proceeds from sale and redemption of investment
securities
Purchase of tangible fixed assets and intangible fixed
assetsPayments for disposal of tangible fixed assets andintangible fixed assets
Proceeds from sales of tangible fixed assets and intangible
fixed assets

17

Fiscal 2022
(January 1, 2022 –December 31, 2022)(Millions of yen)
Fiscal 2023
(January 1, 2023 –December 31, 2023)

Net cash provided by (used in) financing activities
-

5,413

Net increase (decrease) in commercial paper

10,000(10,000)

Proceeds from long-term loans payable

49,375-

Repayment of long-term loans payable(55,013)(30,801)

Proceeds from corporate bonds

10,000--(10,000)

Purchase of treasury stock(10,002)(4)

Dividends paid

(13,908)(16,066)

Proceeds from stock issuance to noncontrolling interests

502-

Dividends paid to noncontrolling interests

(708)

(520)

Other, net(2,297)(2,978)Net cash provided by (used in) financing activities(12,053)(64,959)

4,943

4,858

(24,006)

6,046

151,487

127,616

136-

127,616

133,663

Net increase (decrease) in short-term loans payable

Payment for redemption of corporate bonds

Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of the period
Increase in cash and cash equivalents from newly
consolidated subsidiaries
Cash and cash equivalents, end of the period18

(5) Notes regarding Consolidated Financial Statements
Notes regarding Going Concern Assumptions
None
Changes in Presentation Methods
Consolidated Balance Sheets
In the previous fiscal year, “other provisions” was presented as an independent line item undercurrent liabilities but is included in “other” from fiscal 2023 due to diminished financial importance.
To reflect this change in presentation method, some items presented in the consolidated financial
statements for the previous fiscal year have been restated.
As a result, under current liabilities in the consolidated statements of income for the previous fiscal
year, “other provisions” amounting to ¥111 million and “other” amounting to ¥42,008 million havebeen restated as “other” of ¥42,119 million.
In the previous fiscal year, “provision for directors’ retirement benefits” and “provision forenvironmental measures” were presented as independent line items under noncurrent liabilities but
are included in “other” from fiscal 2023 due to diminished financial importance. To reflect thischange in presentation method, some items presented in the consolidated financial statements forthe previous fiscal year have been restated.
As a result, under noncurrent liabilities in the consolidated statements of income for the previous
fiscal year, “provision for directors’ retirement benefits” amounting to ¥294 million, “provision forenvironmental measures” amounting to ¥397 million and “other” amounting to ¥43,275 million havebeen restated as “other” of ¥43,968 million.
Consolidated Statements of Income
In the previous fiscal year, “gain on investments in investment partnerships” was presented as anindependent line item under non-operating income but changed to “loss on investments ininvestment partnerships” under non-operating expenses in fiscal 2023 and is included in “other”
from fiscal 2023 due to diminished financial importance. To reflect this change in presentation
method, some items presented in the consolidated financial statements for the previous fiscal year
have been restated.
As a result, under non-operating income in the consolidated statements of income for the previous
fiscal year, “gain on investments in investment partnerships” amounting to ¥382 million and “other”
amounting to ¥1,708 million have been restated as “other” of ¥2,091 million.
In the previous fiscal year, “loss on disposal of tangible fixed assets” was presented as anindependent line item under non-operating expenses but will be included in “other” from fiscal 2023
due to diminished financial importance. To reflect this change in presentation method, some items
presented in the consolidated financial statements for the previous fiscal year have been restated.
As a result, under non-operating expenses in the consolidated statements of income for theprevious fiscal year, “loss on disposal of tangible fixed assets” amounting to ¥986 million and “other”
amounting to ¥3,140 million have been restated as “other” of ¥4,127 million.

19

Consolidated Statements of Cash Flows
In the previous fiscal year, “proceeds from sale of treasury stock” was presented as an independentline item under net cash provided by (used in) financing activities but will be included in “other” fromfiscal 2023 due to diminished financial importance. To reflect this change in presentation method,some items presented in the consolidated financial statements for the previous fiscal year havebeen restated.
As a result, under net cash provided by (used in) financing activities in the consolidated statementsof cash flows for the previous fiscal year, “proceeds from sale of treasury stock” amounting to ¥0
million and “other” amounting to ¥(2,297) million have been restated as “other” of ¥(2,297) million.
Additional Information
Resolution of Civil Lawsuits Related to the Fire at a U.S. Subsidiary
Regarding the civil lawsuits related to the fire that occurred at a U.S. subsidiary in May 2018, wereached resolutions with all of the plaintiffs in April 2023, except for one for which a motion todismiss was expected to be granted. Accordingly, we recorded an extraordinary loss of ¥7,806
million as loss on litigation related to the lawsuits, etc., in fiscal 2023’s Consolidated Statements ofIncome. The motion to dismiss the individual’s lawsuit was granted in July 2023. The lawsuits havetherefore been resolved.

20

Segment and Other Information(Segment Information)
1. Segment Overview
The business segments reported by Kuraray are the business units for which the Company is able
to obtain respective financial information separately in order for the Board of Directors to conductperiodic investigations to determine the distribution of management resources and evaluate theirbusiness results.
Kuraray adopts an in-house company system where each in-house company conducts businessactivities and establishes its own comprehensive strategy, both for Japan and for overseas markets,for the products it handles. In addition, among Kuraray subsidiaries, Kuraray Trading Co., Ltd.
independently conducts propriety planning and sales activities, including the processing and sale ofKuraray Group products as well as other companies’ products.
Consequently, Kuraray has created five business segments for reporting – “Vinyl Acetate,”“Isoprene,” “Functional Materials,” “Fibers and Textiles” and “Trading” – categorized by productgroup based on the respective in-house companies and the Trading segment.
The Vinyl Acetate segment manufactures and markets functional resins and film, including PVOH,
PVB and EVAL™. The Isoprene segment manufactures and markets SEPTON™ thermoplastic
elastomer, isoprene-related products and GENESTAR™. The Functional Materials segment
manufactures and markets methacrylic resin, medical products, carbon materials and others. The
Fibers and Textiles segment manufactures and sells synthetic fibers and textiles, CLARINO™ manmade leather, non-woven fabrics and others. The Trading segment mainly processes and sells
synthetic fibers and man-made leather, and conducts planning and marketing for other products
produced by the Kuraray Group and other companies.
2. Methods for Calculating Reporting Segment Net Sales, Income and Loss, Assets andOther Items
The accounting method applied to reporting segments is the same as that used in creating theconsolidated financial statements. Income(loss) from reporting segments is operating income(loss),and intersegment sales and transfers are based on the prevailing market prices.

21

3. Net Sales, Income and Loss, Net Assets and Other Items by Reporting Segment
Fiscal 2022 (January 1, 2022 to December 31, 2022)(Millions of yen)
Reporting Segment
Vinyl Isoprene Functional Fibers Trading
AcetateMaterials
andTextilesNet sales
Outside371,214 52,449
customers
Intersegment
sales and
14,130 13,186transfers
Total
385,345 65,635
Segment income
77,547
4,270
Segment assets 487,392 158,821
Other items
Depreciation andamortization(other than
goodwill)
Impairment loss
Amortization of
goodwill
Balance of
goodwill at end ofcurrent period
Investments inequity method
affiliates
Increase intangible fixed
assets andintangible fixed
assets5

170,329

Others1

Total

Total

Adjustment Consolidated
2,4,Statements3of Income

63,102 57,155 714,252 42,124

756,376－

756,376

3,756

9,927

46,420(46,420)－

174,059
8,574
284,016

66,859 58,844 750,745 52,051
6,736 5,121 102,251 2,679
82,638 51,058 1,063,926 51,246

802,796
1,115,173(46,420)(17,792)
106,360

756,376
87,1391,221,533

3,730

35,7692,768

13,249

4,709

1,036

－

291

18

1,508

－

2,809

15,272－－

22,303

1,689 36,493

104,931

187 56,683

1,111

57,794

3,343

61,138

－

1,346

－

1,346

39

1,385

－

－

4,318

－

4,318

－

4,318

40,786－－ 56,058－

56,058－56,058

－

－

3,298

－

3,298

－

3,298

－

3,298

13,97824,981

4,879

219 66,362

934

67,297

5,302

72,599Notes:
1. The “Others” category incorporates operations not included in business segment reporting,including the engineering business.
2. Adjustment is as follows: Included within segment loss of ¥17,792 million is the elimination ofintersegment transactions of ¥1,887 million and corporate expenses of ¥15,904 million. Corporate
expenses mainly comprise the submitting company’s basic research expenses.
3. Segment income is adjusted to agree with operating income in the consolidated statements ofincome.
4. Adjustment is as follows: Included with segment assets of ¥106,360 million is the elimination ofintersegment transactions of ¥47,242 million and unallocated corporate assets of ¥153,602
million. Corporate assets mainly comprise the submitting company’s surplus funds, long-term
investments and assets related to basic research and administrative divisions at headquarters.
5. The increase in tangible fixed assets and intangible fixed assets is not included in the increase
attributable to the adoption of a new lease accounting standard (ASC 842).

22

Fiscal 2023 (January 1, 2023 to December 31, 2023)(Millions of yen)
Reporting Segment
Vinyl Isoprene Functional Fibers Trading
AcetateMaterials andTextilesNet sales
Outside391,300 52,970 185,692 57,875
customers
Inter-segment
sales and
15,471 12,712
4,102 3,982
transfers
Total
406,771 65,683 189,794 61,858
Segment income
86,344 (10,871)
10,323 1,827(loss)
Segment assets 523,793 161,904 296,633 79,994
Other items
Depreciation
andamortization
39,4699,076
14,191 5,073(other than
goodwill)
Impairment
1,369
－
－
－
loss
Amortization of
1,625
－
3,082
－
goodwill
Balance of
goodwill at end
14,816－ 40,570－
of current
periodInvestments inequity method－－－ 3,531
affiliates
Increase intangible fixed
assets and32,596
5,351
18,211 5,172
intangible fixed
assetsOthers
Total

Total

1,5

Adjustment Consolidated
2,4Statementsof Income3

60,281

748,120 32,818

780,938－

780,938

1,307

37,576 12,854

50,430(50,430)－

61,588785,697 45,672

831,369(50,430)

780,938

5,183

92,80893,314(17,839)

75,47552,959 1,115,283 33,760 1,149,044

105,440

1,254,485

506

216

68,028

1,142

69,1703,284

72,455

－

1,369

2,715

4,084

305

4,390

－

4,708

－

4,708

－

4,708

－

55,386－55,386－55,386

－

3,531

－

3,531

－

3,531

92

61,423859

62,282

4,999

67,282

Notes:
1. The “Others” category incorporates operations not included in business segment reporting,including the engineering business.
2. Adjustment is as follows: Included within segment loss of ¥17,839 million is the elimination ofintersegment transactions of ¥250 million and corporate expenses of ¥17,588 million. Corporate
expenses mainly comprise the submitting company’s basic research expenses.
3. Segment income(loss) is adjusted to agree with operating income in the consolidated statements
of income.
4. Adjustment is as follows: Included with segment assets of ¥105,440 million is the elimination ofintersegment transactions of ¥56,605 million and unallocated corporate assets of ¥162,046
million. Corporate assets mainly comprise the submitting company’s surplus funds, long-term
investments and assets related to basic research and administrative divisions at headquarters.
5. Impairment loss in “Others” mainly relates to the VECSTAR business.

23

Related Information
Fiscal 2022 (January 1, 2022 – December 31, 2022)
1. Information by Each Product and Service

Net sales to outside customers

Vinyl
Acetate378,334

Isoprene
64,847(Millions of yen)
Functional Fibers andMaterials
Textiles172,838
93,484

Others
46,871

Total
756,376

Notes:
Principal products of each segment are as follows:
Vinyl Acetate: PVOH resin and film, PVB resin and film, EVAL™ resin and others
Isoprene: SEPTON™ thermoplastic elastomer, isoprene chemicals, GENESTAR™ heat-resistantpolyamide resin and others
Functional Materials: Methacrylic resin, medical products, carbon materials, aqua business andothersFibers and Textiles: KURALON™, CLARINO™ man-made leather, KURAFLEX™ non-woven
fabrics, MAGICTAPE™ hook and loop fasteners, polyester and others
Others:Engineering business and others

2. Information by Geographical Segment(1) Net Sales
Japan
178,774

United States
164,673(Millions of yen)China
90,028Europe193,938

Asia
84,974

Other Area
43,987

Total
756,376

Note: Net sales are classified by country or area based on customer location.
(2) Tangible Fixed Assets
Japan
187,974

United States
156,214(Millions of yen)
Thailand
79,722Other Area
88,650Total
512,562

3. Major Customers
No information is available as there is no single outside customer accounting for 10% or more of theCompany’s total net sales.
Fiscal 2023 (January 1, 2023 – December 31, 2023)
1. Information by Each Product and Service

Net sales to outside customers

Vinyl
Acetate400,476

Isoprene
65,664(Millions of yen)
Functional Fibers andMaterials
Textiles
188,620
88,419Others37,757

Total
780,938

Notes:
Principal products of each segment are as follows:
Vinyl Acetate: PVOH resin and film, PVB resin and film, EVAL™ resin and others
Isoprene: SEPTON™ thermoplastic elastomer, isoprene chemicals, GENESTAR™ heat-resistantpolyamide resin and others
Functional Materials: Methacrylic resin, medical products, carbon materials, aqua business andothersFibers and Textiles: KURALON™, CLARINO™ man-made leather, KURAFLEX™ non-woven
fabrics, MAGICTAPE™ hook and loop fasteners, polyester and others
Others:Engineering business and others24

2. Information by Geographical Segment(1) Net Sales
Japan
166,801

United States
171,333

China
105,235(Millions of yen)
Europe204,876

Asia
84,232Other Area
48,459

Total
780,938

Note: Net sales are classified by country or area based on customer location.
(2) Tangible Fixed Assets
Japan
188,417

United States
162,401(Millions of yen)
Thailand
79,434

Other Area
96,723

Total
526,977

3. Major Customers
No information is available as there is no single outside customer accounting for 10% or more of theCompany’s total net sales.
Noncurrent assets and impairment loss by reporting segment
Fiscal 2022 (January 1, 2022 – December 31, 2022)
Omitted because the same information is provided under segment information
Fiscal 2023 (January 1, 2023 – December 31, 2023)
Omitted because the same information is provided under segment information
Amortization of goodwill and unamortized balances by reporting segment
Fiscal 2022 (January 1, 2022 – December 31, 2022)
Omitted because the same information is provided under segment information
Fiscal 2023 (January 1, 2023 – December 31, 2023)
Omitted because the same information is provided under segment information
Negative goodwill by reporting segment
Fiscal 2022 (January 1, 2022 – December 31, 2022)
None
Fiscal 2023 (January 1, 2023 – December 31, 2023)
None

25

Per Share Information

Net assets per share (yen)Basic net income per share (yen)Diluted net income per share (yen)Fiscal 2022
(January 1, 2022 –December 31, 2022)
1,932.37
161.13161.00Fiscal 2023
(January 1, 2023 –December 31, 2023)
2,133.75
126.80126.71

Note: The basis for the computation of basic and diluted income per share is as follows:
Fiscal 2022
(January 1, 2022 –December 31, 2022)
Basic net income per share
Net income attributable to owners of theparent (millions of yen)Amount unallocated to common stock(millions of yen)
Net income attributable to owners of theparent allocated to common stock(millions of yen)
Average number of common stock
outstanding during the fiscal year
(thousand shares)

Fiscal 2023
(January 1, 2023 –December 31, 2023)

54,30742,446――54,30742,446

337,050

334,741

―

―

266

253

(266)

(253)

Diluted net income per share
Adjustment made on net income (millionsof yen)Increase of common stocks (thousand
shares)[Subscription rights to shares included inabove]
Outline of the residual securities notincluded in the calculation of the diluted
net income―

Significant Subsequent InformationNone

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