Kurita Water Industries Ltd. · TSE:6370

Kurita Water Industries — 1H FY2026 Earnings Presentation

46 slides from Kurita Water Industries's earnings presentation, Nov 10, 2025

  1. Slide 1: Results Presentation for the First Half of the Fiscal Year Ending March 31, 2026

    Kurita Water Industries Ltd. Results Presentation for the First Half of the Fiscal Year Ending March 31, 2026 (Securities code: 6370) November 10, 2025 © KURITA WATER INDUSTRIES LTD. All Rights Reserved.

  2. Slide 2: Summary

    Summary Net sales : + 1% Business profit : + 11% CSV business net sales : + 11% 1H Results Our performance is progressing in line with the full-year forecast. Electronics ⚫ Net sales of recurring contract-based services and maintenance progressed well, driving higher Industry sales and profit and im

  3. Slide 3: Table of Contents

    Table of Contents Consolidated Financial Results for the First Half of 1 P. 3 ‐ 13 the Fiscal Year Ending March 31, 2026 Consolidated Business Forecast 2 P. 14 ‐ 23 for the Fiscal Year Ending March 31, 2026 3 Progress of Pioneering Shared Value 2027(PSV-27) P. 24 ‐ 41 4 Appendix P. 42 ‐ 44 © KURITA

  4. Slide 4: Consolidated Financial Results for the First Half

    1 Consolidated Financial Results for the First Half of the Fiscal Year Ending March 31, 2026 © KURITA WATER INDUSTRIES LTD. All Rights Reserved.

  5. Slide 5: Overview of Results

    Overview of Results FY 03/2026 FY 03/2025 FY 03/2026 1H Forecast (Billions of Yen) YoY YoY （Billions of Yen） 1H Results 1H Results (Announced in Change change rate May) 35 212.2 Orders 212.2 206.8 (5.4) (2.6%) 205.0 206.8 186.4 188.4 195.5 198.3 30 Net Sales 195.5 198.3 + 2.8 + 1.4% 202.0 23.6 Busin

  6. Slide 6: Factors in Business Profit Change (YoY Change)

    Factors in Business Profit Change (YoY Change) (Billions of Yen) 30 Improving the Increase in cost of sales ratio SG&A expenses Impact of foreign Impact of (1.5) exchange rate increased sales + 2.0 25 + 2.1 (0.3) 23.6 21.2 20 Electronics ⚫ Increase in Industry personnel and Electronics digital-relat

  7. Slide 7: Results by Segment: Electronics Industry

    Electronics Industry Results by Segment FY 03/2026 Facilities FY 03/2025 FY 03/2026 1H Forecast (Billions of Yen) 1H Results 1H Results YoY Change (Announced in ⚫ Orders and net sales decreased year on year due to the May) absence of large-scale projects recorded in China in 1H of Orders 97.6 87.5 (

  8. Slide 8: Factors in Business Profit Change: Electronics Industry

    Electronics Industry Factors in Business Profit Change (YoY Change) (Billions of Yen) 15 Improving the Increase in cost of sales ratio SG&A expenses Impact of foreign Impact of (0.7) exchange rate increased sales + 1.5 (0.2) 11.9 + 0.7 10.7 10 ⚫ Business mix ⚫ Increase in improved due to personnel a

  9. Slide 9: Results by Segment: General Industry

    General Industry Results by Segment FY 03/2026 Facilities FY 03/2025 FY 03/2026 1H Forecast (Billions of Yen) 1H Results 1H Results (Announced in ⚫ Orders increased in North America, due to an increase in YoY Change May) municipal facility projects. Orders 114.7 119.2 + 4.6 113.0 ⚫ Net sales increas

  10. Slide 10: Factors in Business Profit Change: General Industry

    General Industry Factors in Business Profit Change (YoY Change) (Billions of Yen) 15 Improving the Increase in Impact of cost of sales ratio SG&A expenses Impact of foreign increased sales exchange rate + 1.5 + 0.4 (0.7) (0.1) 11.7 10.6 10 ⚫ Increase in ⚫ Despite additional personnel and costs incur

  11. Slide 11: CSV Business

    CSV Business CSV Business Net Sales Number of CSV Business Models FY 03/2026 FY 03/2025 FY 03/2026 Forecast End of End of (Billions of Yen) (Models) Change 1H Results 1H Results (Announced in March 2025 September 2025 YoY Change May) Consolidated + 2.7 55.5 Consolidated 96 118 + 22 24.0 26.7 Electro

  12. Slide 12: Net Sales by Region

    Net Sales by Region Consolidated ⚫ Japan: Increased Electronics Industry FY 03/2026 Increase in recurring contract-based services and facilities (Billions of Yen) FY 03/2025 FY 03/2026 Forecast ⚫ Asia: Decreased 1H Results 1H Results (Announced The absence of large-scale projects in China recorded i

  13. Slide 13: Capital Expenditures, Depreciation and R&D Expenses

    Capital Expenditures, Depreciation and R&D Expenses FY 03/2026 ⚫ Capital expenditures decreased mainly in water supply FY 03/2025 FY 03/2026 Forecast (Billions of Yen) 1H Results 1H Results (Announced services and precision tool cleaning business. YoY Change in May) ⚫ Depreciation increased reflecti

  14. Slide 14: Financial Condition

    Financial Condition End of End of (Billions of Yen) Change March 2025 September 2025 Cash and Cash Equivalents 63.0 65.2 + 2.3 Trade and Other Receivables 126.4 127.9 + 1.5 Inventories 20.7 21.2 + 0.5 Increased mainly in contract assets Others 10.9 10.6 (0.3) Total Current Assets 221.0 225.0 + 4.0 P

  15. Slide 15: Business Forecast for the Fiscal Year Ending March 31, 2026

    2 Business Forecast for the Fiscal Year Ending March 31, 2026 © KURITA WATER INDUSTRIES LTD. All Rights Reserved.

  16. Slide 16: Overview of Business Forecast

    Overview of Business Forecast Previous FY 03/2026 Forecast Forecast FY 03/2025 (Billions of Yen) (Announced in (Announced in Change Results （Billions of Yen） May) Nov.) 433.0 435.0 425.0 408.9 390.2 Orders 425.0 435.0 + 10.0 433.0 384.8 Net Sales 425.0 425.0 ― 408.9 Business Profit 54.0 54.0 ― 49.2

  17. Slide 17: Factors in Business Profit Change (YoY Change)

    Factors in Business Profit Change (YoY Change) (Billions of Yen) 1H ＋ 2.4 2H ＋ 2.5 70 Impact of Worsening Increase in increased the cost of Impact of Improving Increase in SG&A Impact of sales sales ratio foreign Impact of the cost of SG&A expenses foreign exchange rate 60 increased sales ratio expe

  18. Slide 18: Forecast by Segment: Electronics Industry

    Electronics Industry Forecast by Segment Previous FY 03/2026 Facilities Forecast Forecast FY 03/2025 (Billions of Yen) ⚫ Orders were revised upward, reflecting the acquisition of a (Announced in (Announced in Results May) Nov.) Change large-scale project in Korea during 1H. Orders 210.0 213.0 + 3.0

  19. Slide 19: Factors in Business Profit Change: Electronics Industry

    Factors in Business Profit Change (YoY Change) Electronics Industry (Billions of Yen) 1H ＋ 1.2 2H ＋ 0.3 40 Impact of Worsening 35 Increase in increased the cost of Increase in Improving Impact of SG&A Impact of SG&A sales sales ratio Impact of the cost of expenses foreign expenses foreign 30 increas

  20. Slide 20: Forecast by Segment: General Industry

    General Industry Forecast by Segment Previous FY 03/2026 Facilities Forecast Forecast FY 03/2025 (Billions of Yen) ⚫ Orders were revised upward in Japan and North America (Announced in (Announced in Results May) Nov.) Change reflecting the progress in 1H. Orders 215.0 222.0 + 7.0 218.5 ⚫ Net sales w

  21. Slide 21: Factors in Business Profit Change: General Industry

    Factors in Business Profit Change (YoY Change) General Industry (Billions of Yen) 1H ＋ 1.1 2H ＋ 2.1 40 Improving Increase in Impact of SG&A Impact of increased the cost of foreign Improving Increase in Impact of expenses Impact of sales sales ratio exchange rate the cost of SG&A foreign increased (1

  22. Slide 22: CSV Business

    CSV Business CSV Business Net Sales Previous FY 03/2026 Forecast Forecast FY 03/2025 (Billions of Yen) (Announced in (Announced in Results May) Nov.) Change Consolidated 55.5 55.5 ― 47.3 Electronics 11.5 11.5 ― 12.2 Industry General 44.0 44.0 ― 35.0 Industry CSV Business Net Sales CSV Business Net S

  23. Slide 23: Net Sales by Region

    Net Sales by Region Net Sales by Region (Consolidated) ⚫ Japan: Decrease / EMEA: Increase Previous FY 03/2026 Electronics Due to the revision of the revenue recognition region for a Industry Forecast Forecast FY 03/2025 large-scale facility project in Europe from Japan to Europe. (Billions of Yen) R

  24. Slide 24: Capital Expenditures, Depreciation and R&D Expenses

    Capital Expenditures, Depreciation and R&D Expenses Previous FY 03/2026 Forecast Forecast FY 03/2025 ⚫ Forecasts for capital expenditures ,depreciation and R&D (Billions of Yen) expenses remain unchanged. (Announced in (Announced in Results May) Nov.) YoY Change Capital Expenditures (Property, Plant

  25. Slide 25: Progress of Pioneering Shared Value 2027 (PSV-27)

    3 Progress of Pioneering Shared Value 2027(PSV-27) © KURITA WATER INDUSTRIES LTD. All Rights Reserved. 24

  26. Slide 26: What is Kurita

    What is Kurita We harness the power of water to find answers to the challenges faced by industry and society. Through our “Holistic Optimization Approach,” which flexibly combines chemicals, facilities, and maintenance services, we deliver solutions tailored to each customer, winning the trust from

  27. Slide 27: Our Journey and Expanding Customer Base

    Our Journey and Expanding Customer Base Expanding global touchpoints by continuously addressing challenges across various industries where water is essential Sales Composition by Customer Industry Billions of yen Establishing a Global Platform FY ended 03/2025 Public Oil Refining, Through M&A in Pet

  28. Slide 28: Strong On-Site Connections

    Strong On-Site Connections Solving industrial and social challenges through deep on-site connections enabled by diverse business models Kurita Customer’s factory and local community Diverse business models Water treatment chemicals Water treatment facilities Production Maintenance process Wastewater

  29. Slide 29: Big Picture of PSV-27

    Big Picture of PSV-27 Core strategies Demonstrating knowledge of Focusing on markets and fields with Building future growth pillars Contributing to maximizing chemicals, facilities high growth potential and from social value corporate value and maintenance services attractiveness Development of Opti

  30. Slide 30: Toward Achieving the PSV-27 Plan: Electronics Industry

    Electronics Industry Toward Achieving the PSV-27 Plan Expanding our service business starting with facility projects, with capturing market opportunities in the semiconductor industry Net4000 sales and profitability 18.0％ 0.2 Market Opportunity 3500 Semiconductor market CAGR：＋8.8％ 12.9% 13.0% 0.15 3

  31. Slide 31: Building a global business foundation

    Building a global business foundation Electronics Industry Building a global production framework including service business foundation to link market growth to sales growth Strong business foundation Expanding production capacity Korea Production Expanding Process Reform China Expanding Establish a

  32. Slide 32: Current status of our global business foundation

    Current status of our global business foundation Electronics Industry Continuously winning orders for large facility projects from global accounts and expanding service business starting with such facility projects FY03/2025 Q4 FY03/2025 Q4 FY03/2026 Q2 First project for memory maker Foundry Continu

  33. Slide 33: Growth Pipeline

    Electronics Industry Growth Pipeline High growth potential in service business enhanced with facility projects from a strong customer base Service Business - Source of sustainable growth - Maintenance expected annual sales volume Capital investment Approx. forecast in Investment Our SOM *2 Chemicals

  34. Slide 34: Toward Achieving the PSV-27 Plan: General Industry

    General Industry Toward Achieving the PSV-27 Plan Achieving continuous growth through global market share expansion and profitability improvement Net sales and profitability 14.0％ Market Opportunity 4000 0.145 12.4% 3500 11.3% 0.125 Emerging Market GDP Growth Sustains at +4% YoY 10.4% 3000 ¥240.0 0.

  35. Slide 35: Integration of Global and Regional Market Strategies

    General Industry Integration of Global and Regional Market Strategies Leveraging our global business foundation to deploy region-specific strategies, driving growth through market share expansion and improved profitability Share growth & profitability improvement Profitability Share growth & improve

  36. Slide 36: Driving Market Leadership with CSV Business

    General Industry Driving Market Leadership with CSV Business Creating innovative CSV business models and entering new markets to strengthen our presence in emerging markets Kurita Dropwise Condensation Technology Increased sales in emerging countries Existing markets (Middle East, Africa, India, Lat

  37. Slide 37: Three Key Points for CSV Business Expansion

    General Industry Three Key Points for CSV Business Expansion Accelerate market share and profitability through the synergetic effect of Quantity, Quality, and Strategic Marketing Quantity Quality Marketing KPI SOM* KPI Profitability KPI Acquisition rate SOM Total ◼ Maintaining high value ◼ Improve t

  38. Slide 38: New Business Beyond Water Treatment

    New Business Beyond Water Treatment New Business Create and launch new businesses providing future growth opportunities PFAS Measures Lithium Resource Recovery Water Circulation Solutions for the Space Economy Providing solutions as a partner to our customers With anticipated lithium supply shortage

  39. Slide 39: Creating Further New Businesses

    Creating Further New businesses New Business New value created through business diversity and advanced problem-solving expands opportunities and drives premium growth. Social Issues Expansion Expansion Industrial Chemicals Deepening Diversity Electronics industry × New General industry Maintenance F

  40. Slide 40: Capital Allocation Policy

    Finance Capital Allocation Policy Prioritizing capital efficiency and striking the right balance between growth investment and shareholder returns Strengthen existing foundations Organic of growth businesses through capital investments and equipment Criteria growth upgrades for water supply services

  41. Slide 41: M&A Strategies

    Finance M&A Strategies To achieve top-line growth, pursuing growth investments through bolt-on acquisitions and entry into new business areas, looking beyond the PSV-27 M&A conducted since 2015 Effect Mid-term M&A direction Head office from 2025 onwards Acquired company Year location Establishing El

  42. Slide 42: Achieving PSV-27 and moving toward the next goal

    Achieving PSV-27 and moving toward the next goal Driving progress on PSV-27 and fast-tracking readiness for the next mid-term plan PSV-27 Post PSV-27 FY03/2024 FY03/2025 FY03/2026 FY03/2028 Results Results Forecast Target Net Sales ¥384.8 billion ¥408.9 billion ¥425.0 billion ¥470.0 billion Financia

  43. Slide 43: Appendix

    4 Appendix © KURITA WATER INDUSTRIES LTD. All Rights Reserved. 42

  44. Slide 44: Market Opportunity 1

    Electronics Industry Market Opportunity 1 Semiconductor market is expected to sustain long-term growth, driven primarily by memory and logic, with top global manufacturers further strengthening their presence Semiconductor market growth Sales trends of top semi-fab 16,000,000 - global accounts - Cha

  45. Slide 45: Market Opportunity 2

    Electronics Industry Market Opportunity 2 Increasing the difficulty and volume of wastewater recovery due to increase in dry etching processes and the growing need for green manufacturing Semiconductor Water Treatment Manufacturing Water Resources Ultrapure Water Wastewater Volume Industrial Ultrapu

  46. Slide 46: Forward-looking Statements

    Forward-looking Statements This presentation contains forward-looking statements, business plan projections, and judgments based on information available to management at the time of writing. Due to the existence of a variety of risk factors and uncertainties, actual results may differ from those sp

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