According to the company’s website news release on April 27, 2023, Kureha Corporation has updated its earnings forecast for the fiscal year ended March 31, 2023 (FY2022), which was previously announced on November 9, 2022, in view of recent performance trends. The Company’s Board of Directors has also reached a decision with regard to the distribution of retained earnings to shareholders based on record on March 31, 2023 (FY2022 year-end dividend). Details are as follows.
Revisions to FY2022 Earnings Forecast (April 1, 2022 through March 31, 2023) (In millions of yen, unless otherwise indicated)
Reasons for the revision: FY2022 operating profit, profit before taxes and profit attributable to owners of Kureha Corporation are all expected to fall below our previous forecasts due primarily to slower sales of polyvinylidene fluoride (a binder material for lithium-ion batteries) and an approximately ¥2.1 billion impairment loss related to the heat shrink multilayer film facility in the food packaging business.
Note: The new forecast above has been prepared based on information acquired by Kureha Corporation as of the date of this announcement. Actual results may differ from those forecast due to various factors.
Distribution of retained earnings
Dividend policy: Kureha’s basic policy on the distribution of retained earnings, which is included in Kureha Group's New Mid- to Long-term Management Plan disclosed on April 3rd, is to maintain stable dividends with a target dividend payout ratio of 30% or more, while enhancing internal reserves to enable active investment in future business expansion. According to this policy, we have decided to raise the year-end dividend to 145 yen per share from the most recent dividend forecast at 125 yen.
Dividends FY2022 vs. FY2021
