Kuraray Co., Ltd.

Kuraray announces its decision to increase the prices of polyester staple fiber, for shipments commencing June 1, 2022.

In addition to the significant increase in the cost of key raw materials and utilities resulting from a rise in crude oil prices, Kuraray’s earnings continue to experience pressure from soaring logistics and manufacturing costs, the rapid depreciation of the yen, associated with increased costs for facility maintenance and renewal, which are beyond the scope of cost absorption through the Company’s internal efforts.

Under these circumstances, Kuraray has decided to implement the price revisions set out below to improve profitability and to maintain a steady supply.

1.Scope of Revision Polyester staple fiber for domestic and overseas markets
2.Range of Price Increase Up 10% to 15% for polyester staple fiber from current prices
3.Effective Date Shipments from June 1, 2022