December 18, 2014
Kuraray Co., Ltd.

Major Organizational Change(as of January 1, 2015)
Kuraray Co., Ltd. today announces a decision to implement a majororganizational change as of January 1, 2015. Further organizational change
measures (up to department) as of January 1, 2015, will be announced at a later
date.

1. Policy
In fiscal 2015, Kuraray will start the new medium-term management plan whichshows the vision of following 3 years for the Group.
In the new plan, we inherit the basic policy of the former plan and aim to achieve
Specialty Chemical Company with a great presence in the world. To achieve it,
Kuraray continues the several measures executed in the former plan and want tomake a great step for further development under the recognition of continuing
turbulent business environment.
In its initial year, Kuraray shall start our new medium-term management planwith new top management, make assurance doubly sure that we execute itdecisively and steadily and produce results.
Accordingly, Kuraray will implement “strengthening the competitiveness of corebusinesses”, “proactively developing the next generation of managers” and“strengthening and streamlining of the global business foundation”.

2. Details of Organizational Restructuring(1)New establishment of the Corporate Management Planning Office
Kuraray shall newly institute the Corporate Management Planning Office,which reports to President directly, to promote corporate strategies promptly.
The Corporate Management Planning Department and the Corporate
Communications Department shall be allocated in this Office.
(2)New establishment of the Administrative Unit
Kuraray shall newly institute the Administrative Unit to reinforce the eachservice functions and achieve efficient management, and assign a responsibleofficer. The General Affairs and the HR Division, the Accounting and FinanceDivision, the Purchasing and Logistics Division, the CSR Division shall beallocated in this Unit.
(3)Reorganization of the Vinyl Acetate CompanyKuraray shall reorganize the Vinyl Acetate Company and related divisions
to realize further competitiveness, including the integration synergy of theGlass Laminating Solutions/Vinyls to purchase from DuPont.
i) Vinyl Acetate Company shall separate into 2 Companies; Vinyl Acetate
Resin Company and Vinyl Acetate Film Company.
ii) Kuraray shall allocate Production and Technology Management Division,
International Business Planning Division, Poval Resin Division andEVAL Division in Vinyl Acetate Resin Company.
iii) Kuraray shall allocate Production and Technology Management Division,
International Business Planning Division, Poval Film Division, WS Film
Division, PVB Division and GLS Division in Vinyl Acetate Film Company.
New structure
In-housecompanies

Business divisions

Vinyl Acetate Production and Technology
ResinManagement Division,Company
International Business
Planning Division, Poval
Resin Division, EVAL
Division
Vinyl Acetate Production and Technology
FilmManagement Division,CompanyInternational Business
Planning Division, Poval
Film Division, WS Film
Division, PVB Division, GLSDivision

Current structure
In-housecompany

Business divisions

Vinyl Acetate Production andCompany
Technology
ManagementDivision,
International
Business PlanningDivision, Poval Resin
Division, PVB
Division, Poval Film
Division, WS Film
Division, EVAL
Division