On August 9, 2022 Kureha Corporation reported that it has upgraded its earnings forecast for the first half-year of FY2022 ending March 31, 2023, in light of the recent performance trends. Changes from the previous forecast, which was announced on May 12, 2022, are as follows (Press release, Kureha Corporation, AUG 9, 2022, View Source [SID1234617845]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

1. FY2022 2Q Earnings Forecast (April 1, 2022 through September 30, 2022)(Reasons for the revision)

For the first six months of FY2022, revenue is expected to exceed the previous forecast due to effects of a weaker Japanese yen and strong pricing actions against energy and raw material cost inflations, in addition to higher Specialty Chemicals volumes resulting from a front-loaded shipment of agrochemicals. Operating profit will also rise due to increased sales of high-margin products and the postponement in spending SG&A expenses to the latter half of the year. Subsequently, profit before taxes and profit attributable to owners of Kureha Corporation are projected to exceed the forecasts.

Kureha will also update and release its FY2022 full-year earnings forecast, reflecting changes in the business conditions, when it reports 2Q results (scheduled for November 9, 2022.)

Note: The statement regarding the above-mentioned forecast is based on current information acquired by Kureha Corporation as of the date of this announcement. Actual results may differ from these forecasts due to various unforeseeable factors.