Kureha Corporation · TSE:4023
Kureha — Q1 FY2025 Earnings Presentation
14 slides from Kureha's earnings presentation, Aug 8, 2025
Slide 1: FY2025 1Q Results
FY2025 1Q Results August 8, 2025
Slide 2: Summary of FY2025 1Q
Summary of FY2025 1Q FY2025 1Q YoY Change FY2025 1Q Results • FY2025 1Q revenue and profit declined YoY. Revenur and Profit （billion yen） • Revenue decreased due to lower sales of agrochemicals, the end of sales of heat-shrinkable multilayer film, and 26/3 25/3 Change FY25 Forecast other factors. 1Q
Slide 3: Segment Performance: Advanced Materials and Specialty Chemicals
Segment Performance: Advanced Materials and Specialty Chemicals Advanced Materials Specialty Chemicals （billion yen） FY2025 FY2024 Diff. FY2025 FY2024 Diff. 1Q 1Q Amount % 1Q 1Q Amount % PVDF 3.7 4.0 -0.4 -9% Agrochemicals 0.7 2.6 -1.8 -72% PGA 2.1 1.6 0.5 33% Pharmaceuticals 0.5 0.6 -0.1 -12% Other
Slide 4: Segment Performance: Specialty Plastics, Construction and Other Operations
Segment Performance: Specialty Plastics, Construction and Other Operations Construction （billion yen） Specialty Plastics FY2025 Fy2024 Diff. FY2025 FY2024 Diff. 1Q 1Q Amount % 1Q 1Q Amount % Revenue 2.4 1.9 0.5 24% Home products 5.2 5.5 -0.3 -5% Operating profit 0.1 0.1 -0.0 -14% Fishing lines 1.5 1
Slide 5: Financial Position
Financial Position Assets Liabilities and Equity （billion yen） Jun. 30, Mar. 31, Jun. 30, Mar. 31, Diff. Diff. 2025 2025 2025 2025 Cash and cash equivalents 21.9 21.5 0.4 Trade and other payables 18.9 19.5 -0.6 Trade and other receivables 26.0 31.3 -5.2 Interest-bearing debt 125.5 86.0 39.4 ※1 Inven
Slide 6: Cash Flow Result
Chash Flow Result （billion yen） FY2025 FY2024 Diff. 1Q 1Q Profit before income tax 2.8 3.8 -0.9 Depreciation 3.1 3.2 -0.1 Other 0.2 4.2 -4.0 ※1 ※1 Cash flow from operating activities 6.1 11.1 -5.0 Income taxes paid △2.0 Trade and other receivables +0.6 Cash flow from investing activities △4.2 △4.1 -
Slide 7: PVDF Business
PVDF Business ＜PVDF Revenue＞ (billion yen) 15 • Demand for LiB for automotive applications expected to expand sustainably in the medium- to long-term. • There is also no change to the initial FY2025 forecast, which assumes that automotive applications will 10 remain largely flat and ESS applications
Slide 8: PGA Business
PGA Business ＜PGA Revenue＞ • There are signs for a shift to a recovery trend in (billion yen) drilling activity in gas fields (high temperature) due to the rise in gas prices. Our share increased also in 2 primarily-oil fields (medium-to high-temperature) as a result of the acquisition of new custom
Slide 9: Capital Strategies
Capital Strategies Review in FY2025 (disclosed in May) FY2025 (revised) Equity ratio Approx. 50% Equity * Appropriate review of business environment and Continued portfolio changes as they occur Divided on Equity Ratio (DOE) Dividends ※Measures to be taken until FY2026 5%(approx.) Continued Acquisit
Slide 10: Dividend Forecast
Dividend Forecast Updated the forecast for dividend per share, which had been set at 216 yen, to the latest forecast due to changes in the amount of equity capital and number of shares resulting from the share buyback (ToSTNeT-3). ＜Annual dividend per share and DOE＞ 400.0 Approx. 5.0% 300.0 219.0 2.
Slide 11: Key Indicators (1)
Key Indicators（1） Revised forecasts due to the re-establishment (increase) of the share buy-back limit, which was implemented in June 2025, are shown in blue 9.0% ROE ROIC 10% 8% 7.0% 8.4% 7.7% 8.1% 7.4% 6.3% 6.5% 6.1% 6.6% 8% 7.1% 5.8% 6% 4.9% 5.2% 3.9% 6% 4.5% 3.5% 3.6% 3.4% 4% 2.6% 4% 2% 2% 0% 0%
Slide 12: Key Indicators (2)
Key Indicators（2） Revised forecasts due to the re-establishment (increase) of the share buy-back limit, which was implemented in June 2025, are shown in blue 1 Net DE Ratio Equity Ratio 0.65 100% 0.52 0.5 0.31 72% 70% 73% 0.28 67% 67% 0.21 0.18 75% 0.14 62% 65% 61% 0.06 -0.01 -0.03 53% 50% 0 50% -0.
Slide 13: Full-Year Cash Flow Forecast
Full-Year Cash Flow Forecast Revised forecasts due to the re-establishment (increase) of the share buy-back limit, which was implemented in June 2025, are underlined （billion yen） FY2025 FY2024 Diff. Forecast Actual Profit before income tax 14.0 10.2 3.8 Depreciation 12.3 12.7 -0.4 Other △4.8 6.6 -1
Slide 14: Disclaimer
Disclaimer • This presentation material is provided for a deeper understanding of our company, and is not intended to be used as a solicitation for investment or other activities. • This material has been prepared by our company based on the information available at the time of the presentation. Act