Slide 1: FY2025 Financial Report
FY2025 Financial Report May 12, 2026
Slide 2: Contents
Contents Ⅰ. FY2025 Results Ⅱ．Supplementary Materials and FY2026 Outlook 1. FY2025 Financial Result ・Summary of FY2025 Results ・Summary (14) and FY2026 outlook ( 3) ～ ( 4) ・Performance by Segment (15) ～ (16) ・Variance Analysis of Core Operating Profit ( 5) ・Financial Position (17) ・Impairment Losses
Slide 3: FY2025 Results and FY2026 Outlook
Ⅰ. FY2025 Results and FY2026 Outlook （2）
Slide 4: Summary of FY2025 Results
Summary of FY2025 Results VS FY2024 FY2025 Results ・While core operating profit from core businesses improved, operating profit and profit attributable to owners of parent deteriorated due to impairment losses (see p.6 for details). Revenue and Profit （billion yen） FY2025 FY2024 Revised at 2Q ・Highe
Slide 5: Summary of FY2026 Outlook
Summary of FY2026 Outlook VS FY2025 FY2026 Outlook ・While sales are expected to increase for PGA, Home Products and Fishing Lines （Specialty Plastics), core operating profit is forecast to decline, mainly reflecting increased costs caused by heightening geopolitical tensions in the Middle East and o
Slide 6: Variance Analysis of Core Operating Profit
Variance Analysis of Core Operating Profit In FY2025, profit increased due to improved PPS profitability and the reversal of inventory write-down for PVDF recorded in the previous fiscal year, etc. In FY2026, overall profits will decline, as despite growth in PGA, profits are expected to decrease in
Slide 7: Impairment Losses
Impairment Losses • In FY2025, impairment losses of ¥36.5 billion for PVDF and KREMEZIN manufacturing facilities were recorded as follows. • The PVDF business, which had been operating at low utilization rates, aims to break away from continuous losses and improve profitability at the earliest possi
Slide 8: Impact of Geopolitical Risks
Impact of Geopolitical Risks Impact on Production and Sales Although it is difficult to accurately predict the future impact of the escalating situation in the Middle East, there is a possibility that procurement and production activities may be affected depending on how the situation unfolds, as we
Slide 9: PVDF Business
PVDF Business ＜LiB Market Overview＞ ＜Profit and Loss Summary＞ • We continue to expect that demand for LiB for automotive applications will expand FY2025/ vs. FY2024 • Although sales for ESS contributed, sales for automotive applications decreased. Sales volume was in line with the sustainably in the
Slide 10: PGA Business (1)
PGA Business （1） ＜Share by area＞ ＜PGA Revenue Trend＞ (billion yen) 14 16% Other Regions 12 Bakken 10 Haynesville 8 Permian 67% 0% 6 Appalachia 4 0% 2 34% Eagle Ford 0 2022 2023 2024 2025 2026 Medium- to high-temperature regions Estimate * Size of circle: Kureha’s estimated size of the frac plug mark
Slide 11: PGA Business (2)
PGA Business （2） ＜Profit and Loss Summary＞ ＜Progress of Initiatives＞ FY2025/ vs. FY2024 • Field tests of the low-temperature grade were conducted in 2H of FY2025. Design • Although the absence of product write-offs that were implemented in FY2024 and improvements have been completed, and we plan to
Slide 12: Shareholder Returns
Shareholder Returns Our basic policy for profit allocation is to pay stable dividends while enhancing internal reserves that contribute to active investment for future business development. We plan to maintain DOE of 5% from FY2027 and beyond If business conditions change more significantly than exp
Slide 13: Supplementary Materials
Ⅱ．Supplementary Materials １．FY2025 Financial Result ２．FY2026 Financial Outlook ３．Key Metrics （12）
Slide 14: 1. FY2025 Financial Result
１. FY2025 Financial Result （13）
Slide 15: Summary of FY2025 Revenue and Operating Profit Result
Summary of FY2025 Revenue and Operating Profit Result Revenue and Operating Profit by Segment （billion yen） FY2025 FY2024 Actual Actual 1H 2H FY 1H 2H FY Revenue 77.4 84.3 161.7 81.6 80.4 162.0 Advanced Materials 31.1 30.2 61.3 28.5 28.8 57.4 Specialty Chemicals 13.7 15.8 29.5 16.2 14.5 30.7 Special
Slide 16: Segment Performance Result
Segment Performance Result Advanced Materials Specialty Chemicals （billion yen） FY2025 FY2024 Diff. FY2025 FY2024 Diff. Actual Actual Amount % Actual Actual Amount % PVDF 14.9 16.2 -1.3 -8% Crop Protection 7.2 6.5 0.7 11% PGA 9.8 6.2 3.6 57% Pharmaceuticals 3.3 3.3 -0.0 -1% Other 14.9 15.0 -0.1 -1%
Slide 17: Segment Performance Result
Segment Performance Result Specialty Plastics Construction (billion yen） FY2025 FY2024 Diff. FY2025 FY2024 Diff. Actual Actual Amount % Actual Actual Amount % Home Products 22.7 21.8 0.9 4% Revenue 16.0 14.8 1.2 8% Fishing Lines 5.8 5.5 0.3 5% Core Operating Profit 1.5 1.4 0.1 10% Packaging Material
Slide 18: Financial position
Financial position Assets Liabilities and Equity （billion yen） Mar. 31 Mar. 31 Mar. 31 Mar. 31 Diff. Diff. 2026 2025 2026 2025 Cash and cash equivalents 29.7 21.5 8.2 Trades ad other payables 21.0 19.5 1.5 Trade and other recievables 32.6 31.3 1.3 Interest-bearing debt 124.2 86.0 38.2 ※2 Inventories
Slide 19: Cash Flow Result
Cash Flow Result （billion yen） FY2025 FY2024 Diff. Profit before income tax -18.3 10.2 -28.5 Depreciation and Amotization 12.3 12.7 -0.3 Impairment Losses 36.5 36.5 Others -2.5 6.6 -9.1 Cash Flow from Operating Activities 28.0 29.5 -1.5 Cash Flow from investing Activities -13.7 -39.4 25.7 Main Facto
Slide 20: 2. FY2026 Financial Outlook
２. FY2026 Financial Outlook （19）
Slide 21: Summary of FY2026 Revenue and Operating Profit Outlook
Summary of FY2026 Revenue and Operating Profit Outlook Revenue and Operating Profit by Segment （billion yen） FY2026 FY2025 Forecast Actual 1H 2H FY 1H 2H FY Revenue 83.5 88.5 172.0 77.4 84.3 161.7 Advanced Materials 32.5 32.0 64.5 31.1 30.2 61.3 Specialty Chemicals 13.5 16.5 30.0 13.7 15.8 29.5 Spec
Slide 22: Segment Performance Forecast
Segment Performance Forecast Advanced Materials Specialty Chemicals （billion yen） FY2026 FY2025 Diff. FY2026 FY2025 Diff. Forecast Actual Amount % Forecast Actual Amount % PVDF 15.0 14.9 0.1 1% Crop Protection 7.5 7.2 0.3 4% PGA 11.5 9.8 1.7 17% Pharmaceuticals 3.0 3.3 -0.3 -9% Others 16.0 14.9 1.1
Slide 23: Segment Performance Forecast
Segment Performance Forecast Specialty Plastics Construction （billion yen） FY2026 FY2025 Diff. FY2026 FY2025 Diff. Forecast Actual Amount % Forecast Actual Amount % Home Products 24.5 22.7 1.8 8% Revenue 19.5 16.0 3.5 22% Fishing Lines 7.0 5.8 1.2 20% Core Operating Profit 0.8 1.5 -0.7 -48% Packagin
Slide 24: Cash Flow Forecast
Cash Flow Forecast （billion yen） FY2026 FY2025 Diff. Forecast Actual Profit before income tax 10.5 -18.3 28.8 Depreciation and Amortaization 11.9 12.3 -0.4 Impairment Losses 0.0 36.5 -36.5 Others -6.9 -2.5 -4.4 Cash Flow from Operating Activities 15.5 28.0 -12.5 Main Factors Cash Flow from Investing
Slide 25: 3. Key Metrics
KUREHA CORPORATION 3.Key Metrics KUREHA 7 (24)
Slide 26: Key Metrics (1)
Key Metrics（1） （billion yen） Capital Investment Depreciation Expense 46.6 50.0 15.0 12.1 12.7 12.3 11.7 11.6 11.6 11.7 12.0 35.3 10.3 22.2 9.9 25.4 10.0 6.1 6.3 6.2 25.0 5.9 5.9 5.9 6.0 16.5 24.4 5.0 5.4 13.2 14.9 14.3 14.3 12.4 9.8 16.6 6.7 24.4 5.0 7.4 8.2 8.2 7.6 5.8 9.8 10.9 5.8 6.7 6.1 6.7 8.8
Slide 27: Key Metrics (2)
Key Metrics（2） ROE ROIC 9.0% 8.4% 10% 7.1% 7.7% 7.4% 8.1% 10% 6.3% 6.5% 6.6% 7.0% 4.5% 6.1% 4.5% 4.9% 3.6% 3.9% 2.6% 2.8% 0% 0% -4.2% -5.7% -10% -10% 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Estimate Estimate ROA PBR 10% 7.3% 7.6% 7.9% 1.5 7
Slide 28: Key Metrics (3)
Key Metrics（3） Net DE ratio Equity ratio 1 100% 0.57 0.59 0.5 72% 70% 73% 0.28 0.31 75% 65% 67% 67% 0.21 0.18 62% 61% 0.14 0.06 -0.01 -0.03 49% 48% 49% 0 50% 25% -0.5 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Estimate Estimate EPS （yen） Inter
Slide 29: 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. Actual