Kuraray has decided to raise the price of PARAPET, a polymethyl methacrylate (PMMA, methacrylic resin) molding material, by ¥25 per kilogram for shipments in Japan and by 10% for export shipments, commencing with shipments from May 10, 2012.
PMMA molding materials are in strong demand for use in automobiles and have been showing upward momentum for use in optical applications. Therefore, supplies of this product are expected to be tight, particularly in Japan and other countries in Asia.
Kuraray's last price revision was in April 2011. Despite the Company's efforts, rises in key material costs due to crude oil and naphtha price hikes have brought about a rapid deterioration in the Company's earnings from PMMA.
In light of these circumstances, Kuraray decided to implement an upward revision in the product price to ensure a stable supply and to improve the profitability of this business. Details of the price revision are as follows.
|1. Scope of revision||PMMA for shipments in Japan and overseas|
|2. Price increase||¥25 per kilogram for shipments in Japan; |
10% of the current price for export shipments
|3. Effective date||Shipments from May 10, 2012|