Kuraray Co., Ltd. TSE:3405

Kuraray : Earnings Reports (ch8p)

Published

Source: MarketScreener



*CAPEX(acceptance basis) on pages 6 and 17 have been revised. Revisions are underlined.



FY2025 Earnings Presentation (Overview) February 10, 2026

Operating income declined due to negative impacts from inventory valuation differences and a decrease in sales volume. Net income decreased, primarily reflecting the recognition of impairment losses in the Isoprene segment.

FY2025

FY2024

Difference

Net Sales

808.4

826.9

(18.4)

Operating Income

58.9

85.1

(26.2)

Ordinary Income

51.5

81.5

(30.0)

Net Income Attributable to Owners of the Parent

7.5

31.7

(24.3)

Reference

JPY/USD (average)

150

152

JPY/EUR (average)

169

164

Domestic naphtha JPY 1,000/kl

68

75

US natural gas USD/MMBtu

3.6

2.4

Europe natural gas EUR/MWh

37

34

FY2025

Previous Forecast

(Nov. 12, 2025)

Difference

810.0

(1.6)

60.0

(1.1)

53.0

(1.5)

23.0

(15.5)

149

168

68

3.5

39

(Billion yen)

FY2025 Factors Affecting the Change in Operating Income





100.0 (Billion yen)

90.0



85.1

70.0

80.0



50.0

60.0



30.0

40.0



10.0

20.0

(7.2) (3.7) (4.0)

(11.4)

58.9

( ) Inventory valuation differences, SG&A etc.



0.0

FY2024 Volume Selling Price/

Product Mix

Raw Materials and Fuel/ Exchange rate

Others FY2025

FY2024

FY2025

JPY/USD (average)

152

150

JPY/EUR (average)

164

169

FY2024

FY2025

Domestic naphtha JPY 1,000/kl

75

68

US natural gas USD/MMBtu

2.4

3.6

Europe natural gas EUR/MWh

34

37

FY2025

Completed





Optimization of production capacity in methacrylate business

Transfer of noncore businesses (Okayama Rinkoh Co., Ltd., Takarazuka Nakayamadai Newtown)





Decided

Expansion of optical-use poval film production line



Restructuring of polyester business

End of production of KURARITYTM and VECSTAR FCCL

Transfer of a methacrylic resin sheet manufacturing subsidiary in China and stamper business



FY2026

Execution of construction work for new EVALTM plant in Singapore

Further growth of genestar business and dental material business

Decision to increase reactivated carbon production capacity in Europe and the U.S.

Focused allocation of resources to core businesses, and downsize or

withdraw from noncore businesses

Acquisition of Nelumbo Inc.

Co-creation with partner companies for industrialization and social implementation of regenerative medicine

Setting new targets for reducing GHG emissions by 2035 Virtual PPA*1 signed in the U.S.

Acquisition of SBT certification. Initiatives for post-PASSION 2026

Establishment of technology development issues that contribute to GHG emission reductions, and creation of new value indicators combining the Kuraray PSA *3 system and ICP *4



- Three Challenges -

Drive global organizational structure and business process transformation Build a global HR function that contributes to business growth

Challenge for new business models through the use of digital technology and collaboration with other companies





*3 PSA(Portfolio Sustainability Assessment): Product-portfolio metrics established by WBCSD (World Business Council for Sustainable Development)

*4 ICP(Internal Carbon Pricing): A mechanism for creating economic incentives to reduce CO2 emissions and save energy, promoting low-carbon investment and encouraging

climate change response by setting an internal carbon price and using it to calculate the monetary cost of emissions.

yen)

FY2026

Forecast

FY2025

Variance

FY2026

Previous Forecast

(Feb. 12, 2025)

(Billion

Variance

Net Sales

850.0

808.4

41.6

900.0

(50.0)

Operating Income

70.0

58.9

11.1

110.0

(40.0)

Ordinary Income

64.0

51.5

12.5

Net Income Attributable to

Owners of the Parent

40.0

7.5

32.5

66.0

(26.0)

CAPEX(decision basis)

75.0

101.0

(26.0)

CAPEX(acceptance basis)

119.0

106.8

12.2

Depreciation and Amortization (incl. amortization of goodwill)

85.0

84.7

0.3

R&D Expenses

27.0

28.4

(1.4)

Reference

JPY/USD (average)

150

150

155

JPY/EUR (average)

175

169

160

Domestic naphtha (JPY 1,000/kl)

61

68

75

US natural gas* USD/MMBtu

3.8

3.6

Europe natural gas* EUR/MWh

37

37

* Assumptions for U.S. and E

urop

ean natural gas are announced from

the 2Q FY2025 results.

70.0

80.0

50.0

60.0

58.9

15.8

4.9

1.9

(11.5)

(Billion yen)



70.0

30.0

( ) Depreciations,

( ) Inventory valuation differences,

SG&A etc.



40.0

10.0

20.0

0.0

FY2025 Volume Selling Price/

Product Mix

Raw Materials and Fuel/ Exchange rate

Others FY2026

Forecast

FY2025

FY2026 Forecast

JPY/USD (average)

150

150

JPY/EUR (average)

169

175

FY2025

FY2026 Forecast

Domestic naphtha JPY 1,000/kl

68

61

US natural gas USD/MMBtu

3.6

3.8

Europe natural gas EUR/MWh

37

37

120.0

100.0

80.0

60.0

40.0

20.0

0.0

(Billion yen)

110.0

8.0

(29.0)

70.0

(10.0)

(9.0)

FY2026 Volume Selling Price/

Raw Materials

Others FY2026

Forecast

Previous Forecast

(Feb. 12, 2025)

Product Mix

and Fuel/

Exchange rate

Forecast

FY2026

Previous Forecast (Feb. 2025)

FY2026

Forecast

JPY/USD (average)

155

150

JPY/EUR (average)

160

175

FY2026

Previous Forecast (Feb. 2025)

FY2026

Forecast

Domestic naphtha JPY 1,000/kl

75

61

US natural gas*2 USD/MMBtu

3.8

Europe natural gas*2 EUR/MWh

37

*Assumptions for U.S. and European natural gas are announced from 2Q FY25 results.

FY2024

7.3%

¥ 170.3 billion

4.3%

FY2025

5.1%

¥ 143.6 billion

1.0%

FY2026

Forecast

FY2026

Previous Forecast

Feb. 12, 2025

6%

9

¥ 155.0 billion

¥ 186.0 billion

5%

9%

Financial

KPIs

EBITDA Margin reference

20.6%

17.8%

18%

21%















*Operating income + depreciation and amortization

Plans to pay a commemorative dividend of ¥10 per year to celebrate the Kuraray's 100th anniversary

Decided to conduct ¥10.0 billion buyback

2025

Dividend

Maintain and increase dividends per share

¥54(plan)

Breakdown Interim Year-end Normal dividend ¥27 ¥27

Share Buybacks

Aim for continuous conduct

¥30.0 billion

Total Return Ratio

50% or more

628.1% (plan)

2026

plan

¥64(plan)

Breakdown Interim Year-end

Normal dividend ¥27 ¥27

¥10.0 billion* Approx. 74%

Commemorative dividend

¥5 ¥5

Total ¥32 ¥32

* Maximum number of shares : Up to 8.0 million shares (Approx. 2.61% of total outstanding shares, excluding treasury stock)

Maximum value of buyback : Up to ¥10.0 billion

© 2026 KURARAY CO., LTD. All rights reserved. 10

Buyback period : February 12, 2026, to May 31, 2026

10





FY2025

Earnings Presentation (Details ) February 10, 2026

(Billion yen)

FY2025

FY2024

Difference

Net Sales

Operating Income

Net Sales

Operating Income

Net Sales

Operating Income

Vinyl Acetate

404.5

62.5

414.9

87.6

(10.4)

(25.1)

Isoprene

80.4

(4.9)

76.4

(9.5)

4.0

4.6

Functional Materials

206.9

10.8

208.0

12.9

(1.0)

(2.1)

Fibers & Textiles

60.7

2.6

62.7

1.2

(1.9)

1.4

Trading

68.8

6.0

67.6

5.9

1.1

0.1

Others

40.8

1.8

50.9

2.3

(10.1)

(0.5)

Elimination & Corporate

(53.7)

(20.1)

(53.5)

(15.4)

(0.2)

(4.7)

Total

808.4

58.9

826.9

85.1

(18.4)

(26.2)

PVOH resin

Sales volume decreased due to weakened demand, especially in Europe and the United States, and due to the dissipation of the special demand that arose in the previous year to work around logistics disruptions to Europe. Profit was impacted by the rising raw material and fuel prices.

Optical-use poval film

Sales volume increased on the back of Chinese government measures to support home appliance replacement and demand for TV replacement ahead of international sports events.

Inventory valuation differences had a negative impact on profit.

Advanced Interlayer Solutions

Although sales of SentryGlas remained favorable, especially in the Americas, the competitive environment for PVB film has intensified, particularly in Europe and Asia. As a result, sales volume has decreased for both construction and automotive applications.

Water-soluble PVOH film MonoSol

Sales volume increased due to higher demand for soluble-unit-dose detergent.

EVAL

Although sales volume for food packaging applications did not increase as much as assumed in Europe and Asia, automotive applications held steady, resulting in an increase in the overall sales volume. Profit, however, was negatively affected by inventory valuation differences and rising raw material and fuel prices.

(Billion yen)

FY2024

FY2025

Difference

Net Sales

414.9

404.5

(10.4)

Operating Income

87.6

62.5

(25.1)



90.0

70.0

Sales volume did not increase due to the European economic stagnation and other factors, and overall segment income decreased due to the negative impact of inventory valuation differences and higher raw material and fuel prices.

Main reason of increase/ decrease





Factors Affecting the Change in Operating Income

(Billion yen)

40.0

20.0

0.0

(4.7)

62.5

(5.6)

60.0

(4.9)

(9.8)

80.0

87.6

100.0



50.0

30.0

10.0

FY2024 Volume Selling Price/

Product Mix

Raw Materials

and Fuel/ Exchange rate

Others FY2025

Isoprene Chemicals and Elastomers

As a result of a pull-forward in demand in the first half of the year caused by U.S. tariff policies in addition to stagnant demand for construction applications in China, isoprene chemicals experienced a period of adjustment from the third quarter onward. In addition, elastomers faced intensified competition with Asian competitors in the European market and other regions due to

U.S. tariff policies despite an increase in sales

volume.

GENESTAR

Sales volume increased due to expanded sales for both electric and electronic applications and automotive applications.

(Billion yen)

FY2024

FY2025

Difference

Net Sales

76.4

80.4

4.0

Operating Income

(9.5)

(4.9)

4.6





Factors Affecting the Change in Operating Income



(1.0)

0.0

(2.0)

(4.0)

(6.0)

(8.0)

(10.0)

(Billion yen)

(3.0)

(5.0)

1.1

Main reason of increase/

decrease

Overall segment income increased thanks to the stabilization of operations at the Thai base, which was also leveraged to contribute to sales expansion.

1.1 0.5 (4.9)

(7.0)

1.9

(9.0)

(9.5)

FY2024 Volume Selling Price/

Product Mix

Raw Materials and Fuel/ Exchange rate

Others FY2025

Methacrylate

Sales volume fell due to temporary production difficulties in addition to reduced production capacity for methyl methacrylate and some downstream products from July 2025.

Medical

Sales of cosmetic dental materials, mainly in Europe and the U.S., remained brisk. We continued strengthening marketing aimed at expanding sales.

Environmental Solutions

Although the sales volume of activated carbon increased, mainly for drinking water application, a trend has emerged among some customers of revising purchasing timing due to U.S. tariff policies and an uncertain economic outlook, resulting in sales volume failing expectation. In addition, the diatomite and perlite business were transferred in December 2024, resulting in a decrease in sales. Profit was negatively impacted by a cold wave and production difficulties in the United States.

(Billion yen)

FY2024

FY2025

Difference

Net Sales

208.0

206.9

(1.0)

Operating Income

12.9

10.8

(2.1)

14.0

12.0

10.0

8.0

6.0

4.0

2.0

0.0

Factors Affecting the Change in Operating Income





12.9

(0.3)

0.4

(0.8)

10.8

(1.5)

Main reason of increase/

decrease

Overall segment income decreased due in part to the negative effects of a cold wave in the U.S. and production difficulties.

(Billion yen)

FY2024 Volume Selling Price/

Product Mix

Raw Materials and Fuel/ Exchange rate

Others FY2025

(Billion yen)

FY2024

FY2025

Difference

Net Sales







Operating Income







4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

Factors Affecting the Change in Operating Income







0.8

0.6

1.0

(0.9)

2.6

1.2

CLARINO

Although the performance of shoes applications remained steady due to the effects of new recruitment efforts, sales volume decreased, especially for luxury and automotive applications due in part to the effects of production adjustments in EVs, stagnant demand in the European market, and slowing growth in the Chinese economy.

Fibers and Industrial Materials

Sales in Europe for construction material applications remained weak, but the sales composition continued to improve due in part to expanded sales of the liquid crystal polymer fiber VECTRAN .

Main reason of

increase/ decrease

Despite impacts from the European economic slowdown and EV production adjustments, overall segment income increased due to contributions from improvements in sales composition and other factors.

(Billion yen)



FY2024 Volume Selling Price/

Product Mix

Raw Materials and Fuel/ Exchange rate

Others FY2025

(Billion yen)

FY2025

FY2024

Difference

Operating CF

98.6

138.3

(39.7)

Investing CF*

(98.1)

(76.0)

(22.1)

Free CF*

0.5

62.3

(61.8)

CAPEX(acceptance basis)

106.8

84.3

22.6

Depreciation and Amortization (incl. amortization of goodwill)

84.7

85.2

(0.5)

R&D Expenses

28.4

25.7

2.7

* Cash flows from investing activities and free cash flow exclude net cash used in fund management and M&A.

(Billion yen)

Dec. 31, 2025

Dec. 31, 2024

Difference

Current Assets 578.4

565.3

13.1

Non-current 725.1

Assets

726.0

(0.9)

Total Assets 1,303.5

1,291.2

12.3

Dec. 31, 2025

Dec. 31, 2024

JPY/USD (end of period)

157

158

JPY/EUR (end of period)

184

165

(Billion yen)

Dec. 31, 2025

Dec. 31, 2024

Difference

Current Liabilities

228.2

198.2

30.0

Non-current Liabilities

320.1

311.2

8.9

Total Liabilities

548.3

509.4

38.9

Net Assets

755.2

781.8

(26.6)

Total Liabilities and

Net Assets

1,303.5

1,291.2

12.3

Equity Ratio

57.0%

59.2%

(2.2)%

Dec. 31, 2025

Dec. 31, 2024

JPY/USD (end of period)

157

158

JPY/EUR (end of period)

184

165

(Billion yen)

FY2026 Forecast

FY2025

Difference

Net Sales

Operating Income

Net Sales

Operating Income

Net Sales

Operating Income

Vinyl Acetate

420.0

63.0

404.5

62.5

15.5

0.5

Isoprene

93.0

3.0

80.4

(4.9)

12.6

7.9

Functional Materials

222.0

14.5

207.8

8.9

14.2

5.6

Fibers & Textiles

63.0

4.5

60.7

2.6

2.3

1.9

Trading

70.0

6.5

68.8

6.0

1.2

0.5

Others

41.0

1.0

39.9

3.7

1.1

(2.7)

Elimination & Corporate

(59.0)

(22.5)

(53.7)

(20.1)

(5.3)

(2.4)

Total

850.0

70.0

808.4

58.9

41.6

11.1

*From FY2026, the segment classification of the Electronics Materials Promotion Division is changed from "Others" to "Functional Materials." Accordingly, figures presented under result for FY2025 reflect this change.

Vinyl Acetate

8.7

1.3

62.5 (1.0)

63.0

(8.5)

80.0

70.0

60.0

( ) : Inventory valuation differences, Repair costs etc.



50.0

40.0

30.0

20.0

10.0

0.0

FY2025 Volume Selling Price/

Product Mix

Raw Materials and Fuel/ Exchange rate

(Billion yen)

Others FY2026 Forecast

Isoprene

3.6

3.0

0.7

1.4

2.3

(4.9)

(+) : Depreciation

4.0

3.0

2.0

1.0

0.0

(1.0)

(2.0)

(3.0)

(4.0)

(5.0)

(6.0)

FY2025 Volume Selling Price/

Product Mix

Raw Materials and Fuel/ Exchange rate

(Billion yen)

Others FY2026 Forecast

Functional Materials Fibers & Textiles

3.2

(Billion yen) (Billion yen)

16.0

14.0

12.0

10.0

8.0

6.0

4.0

2.0

6.0

1.3

(0.2)

4.5

(0.3)

1.2

2.6

5.0

4.0

3.0

2.0

1.0

0.0

FY2025 Volume Selling Price/

Product Mix

Raw Materials and Fuel/ Exchange rate

Others FY2026 Forecast

0.0

0.2

14.5

(1.5)

3.7

8.9

FY2025 Volume Selling Price/

Product Mix

Raw Materials and Fuel/ Exchange rate

Others FY2026 Forecast

Ref.

Net Sales and Operating Income by Segment (vs. Previous Forecast)



(Billion yen)

FY2026

Forecast

FY2026

Previous Forecast

(As of Feb. 12, 2025)

Difference

Net Sales

Operating Income

Net Sales

Operating Income

Net Sales

Operating Income

Vinyl Acetate

420.0

63.0

438.0

89.0

(18.0)

(26.0)

Isoprene

93.0

3.0

95.0

0.0

(2.0)

3.0

Functional Materials

222.0

14.5

230.0

25.0

(8.0)

(10.5)

Fibers & Textiles

63.0

4.5

70.0

7.0

(7.0)

(2.5)

Trading

70.0

6.5

75.0

7.0

(5.0)

(0.5)

Others

41.0

1.0

39.5

2.0

1.5

(1.0)

Elimination & Corporate

(59.0)

(22.5)

(47.5)

(20.0)

(11.5)

(2.5)

Total

850.0

70.0

900.0

110.0

(50.0)

(40.0)

*From FY2026, the segment classification of the Electronics Materials Promotion Division is changed from "Others" to "Functional Materials." Accordingly, figures presented under previous forecast for FY2026 reflect this change.

(Billion yen)

FY2026 Forecast

FY2025

Difference

1H

2H

FY

1H

2H

FY

1H

2H

FY

Net Sales

410.0

440.0

850.0

400.0

408.5

808.4

10.0

31.5

41.6

Operating Income

24.0

46.0

70.0

26.3

32.6

58.9

(2.3)

13.4

11.1

Ordinary Income

21.0

43.0

64.0

21.3

30.2

51.5

(0.3)

12.8

12.5

Net Income Attributable to

Owners of the Parent

13.0

27.0

40.0

14.0

(6.6)

7.5

(1.0)

33.6

32.5

FY2026 Forecast

FY2025

(Billion yen) Difference

Vinyl Acetate

Isoprene

Functional Materials Fibers & Textiles

Trading

Others

Elimination & Corporate

Total

1H 205.0 44.0

31.0

32.0

63.0

29.8

31.0

60.7

1.2

1.0

2.3

34.0

36.0

70.0

33.9

34.9

68.8

0.1

1.1

1.2

17.0

24.0

41.0

21.7

18.2

39.9

(4.7)

5.8

1.1

(27.0)

(32.0)

(59.0)

(26.8)

(26.9)

(53.7)

(0.2)

(5.1)

(5.3)

410.0

440.0

850.0

400.0

408.5

808.4

10.0

31.5

41.6

106.0 2H 215.0 49.0 116.0 FY 420.0 93.0 222.0

1H

202.9

39.9

98.6

2H

201.6

40.4

109.3

FY

404.5

80.4

207.8

1H

2.1

4.1

7.4

2H

13.4

8.6

6.7

FY

15.5

12.6

14.2

*From FY2026, the segment classification of the Electronics Materials Promotion Division is changed from "Others" to "Functional Materials." Accordingly, figures presented under result for FY2025 reflect this change.

(Billion yen)

FY2026 Forecast

FY2025

Difference

1H

2H

FY

1H

2H

FY

1H

2H

FY

Vinyl Acetate

22.0

41.0

63.0

29.9

32.7

62.5

(7.9)

8.3

0.5

Isoprene

1.5

1.5

3.0

(1.3)

(3.6)

(4.9)

2.8

5.1

7.9

Functional Materials

6.0

8.5

14.5

1.7

7.2

8.9

4.3

1.3

5.6

Fibers & Textiles

1.5

3.0

4.5

(0.1)

2.7

2.6

1.6

0.3

1.9

Trading

3.0

3.5

6.5

3.0

3.0

6.0

0.0

0.5

0.5

Others

0.0

1.0

1.0

1.9

1.8

3.7

(1.9)

(0.8)

(2.7)

Elimination & Corporate

(10.0)

(12.5)

(22.5)

(8.9)

(11.2)

(20.1)

(1.1)

(1.3)

(2.4)

Total

24.0

46.0

70.0

26.3

32.6

58.9

(2.3)

13.4

11.1

*From FY2026, the segment classification of the Electronics Materials Promotion Division is changed from "Others" to "Functional Materials." Accordingly, figures presented under result for FY2025 reflect this change.

(Billion yen)

FY2024

FY2025

1Q

2Q

3Q

4Q

FY

1Q

2Q

3Q

4Q

FY

Vinyl Acetate

99.0

109.8

106.7

99.4

414.9

100.4

102.5

98.5

103.1

404.5

Isoprene

17.2

20.4

18.5

20.3

76.4

19.7

20.3

18.6

21.9

80.4

Functional

Materials

48.7

54.0

49.6

55.7

208.0

47.6

50.5

50.4

58.4

206.9

Fibers & Textiles

13.8

17.4

15.0

16.5

62.7

13.4

16.3

14.0

17.0

60.7

Trading

15.3

16.9

16.0

19.4

67.6

16.7

17.2

15.1

19.7

68.8

Others

11.7

13.3

12.1

13.8

50.9

11.1

11.0

9.8

8.9

40.8

Elimination & Corporate

(13.6)

(12.8)

(14.2)

(12.9)

(53.5)

(14.1)

(12.7)

(12.9)

(14.0)

(53.7)

Total

192.2

219.0

203.6

212.1

826.9

194.8

205.2

193.5

215.0

808.4

(Billion yen)

FY2024

FY2025

1Q

2Q

3Q

4Q

FY

1Q

2Q

3Q

4Q

FY

Vinyl Acetate

24.8

19.1

26.7

17.0

87.6

15.9

14.0

18.7

14.0

62.5

Isoprene

0.0

(4.0)

(1.5)

(3.9)

(9.5)

2.8

(4.1)

(0.9)

(2.7)

(4.9)

Functional

Materials

3.2

3.2

2.8

3.6

12.9

2.0

0.9

3.4

4.5

10.8

Fibers & Textiles

(0.2)

1.0

1.5

(1.0)

1.2

(0.6)

0.5

1.4

1.3

2.6

Trading

1.3

1.4

1.4

1.8

5.9

1.4

1.7

1.2

1.8

6.0

Others

0.4

0.5

1.0

0.4

2.3

0.1

0.6

0.7

0.3

1.8

Elimination & Corporate

(0.8)

(4.5)

(3.3)

(6.8)

(15.4)

(3.0)

(5.9)

(4.4)

(6.8)

(20.1)

Total

28.8

16.7

28.5

11.2

85.1

18.7

7.6

20.1

12.5

58.9

Ref.

Net Sales and Operating Income by Segment (vs. Previous Forecast)



(Billion yen)

FY2025

FY2025

Previous Forecast

(As of Nov. 12, 2025)

Difference

Net Sales

Operating Income

Net Sales

Operating Income

Net Sales

Operating Income

Vinyl Acetate

404.5

62.5

408.0

64.0

(3.5)

(1.5)

Isoprene

80.4

(4.9)

81.0

(5.5)

(0.6)

0.6

Functional Materials

206.9

10.8

207.0

10.5

(0.1)

0.3

Fibers & Textiles

60.7

2.6

62.0

2.0

(1.3)

0.6

Trading

68.8

6.0

67.0

6.0

1.8

0.0

Others

40.8

1.8

42.0

1.0

(1.2)

0.8

Elimination & Corporate

(53.7)

(20.1)

(57.0)

(18.0)

3.3

(2.1)

Total

808.4

58.9

810.0

60.0

(1.5)

(1.1)



yen

loss



Approximate impact on operating income

Billion profit, ()

FY2025 1H

FY2025 2H

FY2025

Regular maintenance cost

Operation suspension cost

Inventory valuation differences

Total

Regular maintenance cost

Operation suspension cost

Inventory valuation differences

Total

Total

Vinyl Acetate

(2.0)

(2.0)

(3.0)

(7.0)

(0.5)

2.0

3.0

4.5

(2.5)

Isoprene

(2.0)

0.0

0.5

(1.5)

0.0

0.0

(1.0)

(1.0)

(2.5)

Functional Materials

(0.5)

(2.0)

0.0

(2.5)

0.0

0.0

0.5

0.5

(2.0)

Fibers & Textiles

0.0

0.0

(0.5)

(0.5)

0.0

0.0

0.5

0.5

0.0

Total

(4.5)

(4.0)

(3.0)

(11.5)

(0.5)

2.0

3.0

4.5

(7.0)

Ref.

Modeling Tool



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