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Investor Presentaiton

Vinyl Acetate Net Sales (Billion yen) 279.4 FY2018 266.1 FY2019 Operating Income (Billion yen) 54.7 47.4 ■PVA resin Sales volume declined due to decelerating economic conditions. ■Optical-use poval film Shipments decreased due to a LCD panel inventory adjustment. We completed an expansion of facilities at Kurashiki Plant in the fourth quarter. Water-soluble PVA film <MonoSol> Sales expanded thanks to growing demand for products for use in unit dose detergent packets. ■PVB film Sales struggled in Auto market despite demand grew for Ionomer interlayer for glass lamination SentryGlas™ EVAL™M Gas tank applications was affected by decline in the production number of vehicles. Sales volume for food packaging applications declined despite a gradual recovery in sales from the third quarter onward. FY2018 FY2019 kuraray 11
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