On August 9, 2022 Kureha Corporation reported FY2022 1Q Results (Press release, Kureha Corporation, AUG 9, 2022, View Source [SID1234617843])

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FY2022 1Q Results
YoY: Delivered strong revenue and profit growth driven by broad-based pricing actions for advanced plastics and volume gains in Advanced Materials, more than offsetting higher fuel and raw material costs and increased SG&A expenses in Specialty Chemicals and Specialty Plastics

QoQ: Both revenue and profit up sequentially due primarily to expanded PVDF and agrochemicals sales and seasonal demand for home products, coupled with the absence of impairment losses recorded in 4Q/FY21

FY2022 2Q(Half-year) Outlook Vs. FY21 2Q: Projecting top and bottom line growth as Advanced Materials sales continue to expand, partially offset by inflationary impacts on Specialty Chemicals and Specialty Plastics and slower environmental businesses related to industrial waste treatment. 2Q profit growth likely to slow down verses 1Q with further impacts of surging energy and raw material prices. Vs. Initial forecast: Upgrading 2Q forecast to reflect limited impact of presumed risks seen during 1Q; expected revenue expansion led by a weaker Japanese yen, higher prices and higher agrochemical sales volumes (a front-loaded delivery); and spending of SG&A expenses postponed to 3Q-4Q

*Kureha will continually monitor the impact of potential risks and announce its updated full-year forecast based on changes in the business conditions when reporting 2Q results.

FY2022 1Q Summary

(1) (in billions of yen) • Revenue growth led by advanced plastics, particularly PVDF binder for lithium-ion batteries • Higher core operating profit driven by strong gains in advanced plastics • Operating profit increased as a result of higher core operating profit • Profit attributable to the Company increased as a result of higher profit before taxesAdvanced plastics Revenue up, profit up:-Continued strong demand for PVDF in the automotive LiB market-higher PPS and PGA sales volumes Carbon products Revenue and profit leveled off:-Sales volumes of carbon fiber used for highheat furnace insulation and automotive sliding materials on par with prior yearAgrochemicals & Pharmaceuticals Revenue up, profit down:-Higher fungicides volumes-Decreased sales volume of Kremezin, a therapeutic agent for chronic kidney failures Industrial chemicals Revenue up, profit down:-Improved sales volumes of organic and nonorganic chemicals-Higher raw material and fuel costs