Kuraray Co., Ltd. (President: Fumio Ito; Headquarters: Chiyoda-ku, Tokyo; hereafter "Kuraray" ) announced today that it will accelerate market development in South America and has decided to establish a local subsidiary to accelerate core business development in emerging markets under the "GS-Twins" medium-term action plan covering fiscal 2009 through fiscal 2011. Brief details are as follows.

Planned subsidiary location
Sao Paulo, Brazil
Targeted opening
In 2010
Approximately ¥100 million (initially planned)
Number of employees
3 (initially)
Business activities
Initially, the construction of infrastructure for the Kuraray Group's business expansion in South America
Expand Kuraray Group sales for the Latin American regions to $200 million after five years
The name of the company and representative director will be announced after formally decided