At a meeting of its Board of Directors held on March 22, 2006, Kuraray's wholly owned subsidiary Kuraray Trading Co., Ltd. decided to dissolve Kuraray Planning System Co., Ltd., a company in which it holds 100% equity.

1. The subsidiary Company

Name Kuraray Planning System Co., Ltd.
Address 1-12-39, Umeda , Kita-ku, Osaka
President Kenzo Murai
Established June 11, 1997
Capitalization ¥10 million
End of fiscal year March
Principal shareholder Kuraray Trading Co., Ltd. 100%
Business activities Planning, design and information provision for clothing, accessories and textiles

2. Reason for dissolution

Kuraray Trading has decided to outsource the subsidiary's business to improve the Group's operating efficacy.

3. Schedule

March 2006 Resolution for dissolution
August 2006 Liquidation complete

4. Effect on performance

While Kuraray Planning System is a Kuraray non-consolidated subsidiary accounted for by the equity method, its dissolution will have little effect on the consolidated performance of Kuraray Co., Ltd.