Overview
Chemicals

KURARAY CO.,LTD.

Kuraray is a specialty chemical and materials company operating across six segments: Vinyl Acetate (POVAL resin/film, EVOH resin EVAL, PVB film), Isoprene (thermoplastic elastomers SEPTON, heat-resistant polyamide GENESTA), Functional Materials (methacrylic resin, activated carbon via Calgon Carbon, hollow-fiber water treatment membranes), Fibers (VINILON, artificial leather CLARINO, nonwovens KURALON), Trading, and Others (liquid crystal polymer film, dental materials via Kuraray Noritake Dental). The company holds leading global market positions in POVAL resin, EVOH barrier resin, and PVB interlayer film, serving packaging, automotive, construction, electronics, and water treatment industries. With manufacturing and sales operations spanning Japan, North America, Europe, Asia, and Australia, Kuraray differentiates through proprietary polymer chemistry and high-barrier specialty materials.

Market Cap
¥550B
US$3.50B
EV
¥742B
US$4.72B
Stock¥1,824▲+0.61%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
5.0
x
LTM EV/EBIT
11.9
x
LTM PER
71.8
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-14.7%pt
1001
Oct 23, 25 – Oct 23, 26StockTOPIX
1Aug 7, 26Q2 FY2026/12 earnings announced
MC → EV Bridge
550BUS$3.50BMarket Cap324BUS$2.07B+ Debt122BUS$777M− Cash23.1BUS$147M− Inv. Sec.12.7BUS$80.7M+ NCI742BUS$4.72BEV
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Performance & Balance
Revenue 5Y (¥B)
629US$4.01B'21/12756US$4.82B'22/12781US$4.97B'23/12827US$5.27B'24/12808US$5.15B'25/12
EBITDA 5Y (¥B)
131US$836M'21/12153US$972M'22/12153US$972M'23/12170US$1.08B'24/12144US$914M'25/12
Net Income 5Y (¥B)
37.3US$237M'21/1254.3US$346M'22/1242.4US$270M'23/1231.7US$202M'24/127.47US$47.6M'25/12
Capital Structure
70%
30%
EquityD/E 0.43xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
178US$1.13B307US$1.96B'21/12147US$935M324US$2.07B'22/12155US$988M282US$1.80B'23/12148US$942M246US$1.57B'24/12128US$813M291US$1.85B'25/12
Shareholders
Top 10 hold 46.9%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
18.96%
2
Custody Bank of Japan, Ltd. (Trust Account)
8.27%
3
National Mutual Insurance Federation of Agricultural Cooperatives
3.61%
4
Nippon Life Insurance Company
3.60%
5
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.75%
6
BNYMSANV AS AGENT/CLIENTS LUX UCITS NON TREATY 1 (Standing Proxy: MUFG Bank, Ltd.)
2.48%
7
KURARAY CO.,LTD. Employee Stock Ownership Association
2.04%
8
STATE STREET BANK AND TRUST COMPANY 505223 (Standing Proxy: Mizuho Bank, Ltd.)
1.81%
9
Meiji Yasuda Life Insurance Company
1.78%
10
KURARAY CO.,LTD. Stock Ownership Association
1.59%
Management
16 officers
Hitoshi KAWAHARA
Representative Director, President
Apr 1984 Joined the Company Apr 2014 General Manager, Poval Film Business Division, Vinyl Acetate Company Jan 2016 Deputy Head, Vinyl Acetate Film Company Mar 2016 Executive Officer Jan 2018 Head, Vinyl Acetate Resin Company Mar 2018 Managing Executive Officer Mar 2019 Director, Managing Executive Officer Jan 2021 Representative Director, President (current)
1962-03-12
Keiji TAGA
Representative Director, Senior Managing Executive Officer; in charge of Sustainability Promotion Division, Human Resources Division, and Procurement and Logistics Division
Apr 1984 Joined the Company Apr 2014 General Manager, Medical Business Division, Functional Materials Company Mar 2017 Executive Officer Jan 2018 In charge of Corporate Strategy Office and CSR Division Mar 2018 Managing Executive Officer Mar 2019 Director, Managing Executive Officer Jan 2020 In charge of Administration Division Jan 2022 In charge of Sustainability Promotion Division (current); in charge of Global Digital Transformation Promotion Office; in charge of Accounting and Finance Division Jan 2023 In charge of DX-IT Division Jan 2024 Representative Director, Senior Managing Executive Officer (current) Jan 2025 In charge of General Affairs and Human Resources Division; in charge of Procurement and Logistics Division (current) Jan 2026 In charge of Human Resources Division (current)
1961-10-16
Masaaki ITO
Chairman of the Board, Director
Apr 1980 Joined the Company Apr 2010 General Manager, Methacrylic Business Division, Chemicals Company Jun 2012 Executive Officer Apr 2013 Deputy Head, Functional Materials Company Jun 2013 Managing Executive Officer Apr 2014 In charge of Management Planning Division and CSR Division Jun 2014 Director, Managing Executive Officer Jan 2015 Representative Director, President Jan 2021 Chairman of the Board, Director (current) Apr 2021 Chairman, Saijo Central Hospital, Medical Corporation Doshinkai (current) Jun 2024 Outside Director, Hitachi Construction Machinery Co., Ltd. (current) Jun 2025 Chairman, Ishii Memorial Aizenen, Social Welfare Corporation (current)
1957-06-23
Nobuhiko TAKAI
Director, Managing Executive Officer; Head, Functional Materials Company
Apr 1984 Joined the Company Apr 2014 General Manager, Genesta Business Division, Isoprene Company Mar 2016 Executive Officer Jan 2019 Deputy Head, Functional Materials Company; General Manager, Carbon Materials Business Division Mar 2019 Managing Executive Officer Jan 2020 Head, Functional Materials Company (current) Mar 2020 Director, Managing Executive Officer (current)
1960-05-05
Tomoyuki WATANABE
Director, Managing Executive Officer; Head, Vinyl Acetate Resin Company and Head, Vinyl Acetate Film Company
Apr 1988 Joined the Company Jan 2015 General Manager, Poval Resin Business Division and International Business Division, Vinyl Acetate Resin Company Jan 2016 Deputy Head, Vinyl Acetate Resin Company Mar 2018 Executive Officer Jan 2021 Head, Vinyl Acetate Resin Company (current) Jan 2023 In charge of Electronic Materials Promotion Division Mar 2023 Managing Executive Officer Jan 2024 Head, Vinyl Acetate Film Company (current) Mar 2024 Director, Managing Executive Officer (current)
1963-07-15
Yoji IKEMORI
Director, Managing Executive Officer; Head, Isoprene Company
Apr 1986 Joined the Company Jan 2017 General Manager, Methacrylic Business Division, Functional Materials Company Jan 2019 General Manager, Genesta Business Division, Isoprene Company Mar 2019 Executive Officer Jan 2024 Head, Isoprene Company (current) Mar 2024 Managing Executive Officer Mar 2025 Director, Managing Executive Officer (current)
1963-09-18
Keiko MURATA
Director
Apr 1986 Joined Economic Planning Agency Aug 2005 Counsellor, Office of the Director-General for Policy Planning, Cabinet Office (Economic and Fiscal Policy - Overseas Analysis) Aug 2006 Counsellor (International Affairs), Secretariat of the Science Council of Japan, Cabinet Office Jul 2008 Professor, Graduate School of Social Sciences, Tokyo Metropolitan University May 2015 Assistant to the President, Tokyo Metropolitan University Jul 2017 Councillor, Nippon Life Insurance Company (current) Apr 2018 Professor, Graduate School of Management, Tokyo Metropolitan University Mar 2020 Director of the Company (current) Apr 2022 Professor Emeritus, Tokyo Metropolitan University (current) Apr 2022 Professor, Graduate School of Economics, Rissho University (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), Tohoku Electric Power Co., Inc. (current)
1962-02-25
Satoshi TANAKA
Director
Apr 1981 Joined Mitsui & Co., Ltd. Apr 2007 General Manager, Corporate Planning Department, Mitsui & Co., Ltd. Apr 2011 Executive Officer, Mitsui & Co., Ltd. Apr 2013 Managing Executive Officer, Mitsui & Co., Ltd. Apr 2015 Senior Managing Executive Officer; President, Asia and Oceania Mitsui & Co., Ltd. Apr 2017 Vice President and Senior Managing Executive Officer; CAO (Chief Administrative Officer), CIO (Chief Information Officer), and CPO (Chief Privacy Officer), Mitsui & Co., Ltd. Jun 2017 Representative Director, Executive Vice President and Senior Managing Executive Officer, Mitsui & Co., Ltd. Apr 2019 Director, Mitsui & Co., Ltd. Jun 2019 Adviser, Mitsui & Co., Ltd. Mar 2020 Director of the Company (current) Apr 2020 Outside Director, Sekisui House, Ltd. Jan 2021 Independent Director, IHH Healthcare Berhad (current) Apr 2021 Representative Director, Executive Vice President and Executive Officer, Sekisui House, Ltd. (current)
1958-02-27
Naoko MIKAMI
Director
Apr 1983 Joined Ajinomoto Co., Inc. Apr 2007 Visiting Professor, Musashino University Jan 2010 Joined Scoon Co., Ltd. Apr 2010 Plant Manager, Tochigi Plant, Scoon Co., Ltd. Jun 2011 Executive Officer in charge of Production, Scoon Co., Ltd. Jun 2012 Director in charge of Production, Scoon Co., Ltd. Jun 2017 Managing Director and Executive Officer, Scoon Co., Ltd. Jun 2019 Representative Director, Executive Vice President and Executive Officer, Scoon Co., Ltd. Jun 2021 Outside Director, Showa Sangyo Co., Ltd. (current) Mar 2022 Outside Director, Earth Corporation (current) Mar 2024 Director of the Company (current) Mar 2025 Outside Director, Kirin Holdings Company, Limited (current)
1961-03-12
Toshifumi MIKAYAMA
Director
Apr 1983 Joined Kirin Brewery Company, Limited (now Kirin Holdings Company, Limited) Sep 2002 General Manager, Drug Discovery Research Laboratories, Pharmaceutical Company, Kirin Brewery Company, Limited Mar 2004 General Manager, Planning Department, Pharmaceutical Company, Kirin Brewery Company, Limited Jul 2007 Director and Executive Officer, Head of Research, Kirin Pharma Co., Ltd. Oct 2008 Executive Officer, Head of Research, Kyowa Hakko Kirin Co., Ltd. (now Kyowa Kirin Co., Ltd.) Apr 2010 Executive Officer, General Manager, Corporate Planning Department, Kyowa Hakko Kirin Co., Ltd. Mar 2012 Managing Executive Officer, General Manager, Overseas Business Division, Kyowa Hakko Kirin Co., Ltd. Mar 2014 Director, Managing Executive Officer, General Manager, Overseas Business Division, Kyowa Hakko Kirin Co., Ltd. Mar 2018 Director, Senior Managing Executive Officer, in charge of Overseas Business, Kyowa Hakko Kirin Co., Ltd. Mar 2021 Director and Vice President, in charge of Overseas Business, Kyowa Kirin Co., Ltd. Jun 2023 Outside Audit & Supervisory Board Member, Central Glass Co., Ltd. Jun 2023 Chairman, Kato Memorial Bioscience Foundation (current) Jul 2024 Board Member, WinHealth International Company Limited (current) Mar 2025 Director of the Company (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), Central Glass Co., Ltd. (current)
1957-07-18
Hiroaki HAYASE
Full-time Audit & Supervisory Board Member
Apr 1980 Joined the Company Apr 2012 General Manager, Poval Resin Business Division, Resin Company Jun 2012 Executive Officer Apr 2013 General Manager, Poval Resin Business Division, Vinyl Acetate Company; General Manager, Production Technology Division Jun 2014 Managing Executive Officer Jan 2015 Head, Vinyl Acetate Film Company Mar 2015 Director, Managing Executive Officer Jan 2016 Head, Vinyl Acetate Resin Company Mar 2016 Director, Senior Managing Executive Officer Mar 2020 Representative Director, Senior Managing Executive Officer Jan 2021 In charge of Vinyl Acetate Resin Company and Vinyl Acetate Film Company Jan 2022 Head, Vinyl Acetate Film Company Jan 2024 Director, Executive Officer Mar 2024 Audit & Supervisory Board Member (current)
1956-02-28
Hideo OI
Full-time Audit & Supervisory Board Member
Apr 1982 Joined the Company Apr 2014 General Manager, Accounting and Finance Division Jan 2022 General Manager, Management Audit Division Mar 2022 Executive Officer Mar 2025 Audit & Supervisory Board Member (current)
1959-10-29
Matthias GUTWEILER
Director, Managing Executive Officer
Mar 1988 Joined Hoechst AG Jun 1996 General Manager, Mowiol Plant, Hoechst AG Dec 2001 Joined Kuraray Specialities Europe Jan 2009 Executive Officer, the Company; President, Kuraray Europe GmbH (current) Apr 2013 General Manager, PVB Business Division, Vinyl Acetate Company Mar 2018 Managing Executive Officer Mar 2020 Director, Managing Executive Officer (current)
1958-03-11
Tomomi YATSU
Audit & Supervisory Board Member (Part-time)
Apr 1983 Joined Tokyo Electron Limited Oct 1986 Joined Sanwa Tohmatsu Aoki Audit Corporation (now Deloitte Touche Tohmatsu LLC) Sep 1990 Registered as Certified Public Accountant Oct 2001 Registered with Tokyo Bar Association; joined Shin-Tokyo Law Office (later merged into Bingham Sakai Mimura Aizawa Foreign Law Joint Enterprise) Jun 2009 Outside Audit & Supervisory Board Member, Calbee, Inc. Jun 2010 Outside Audit & Supervisory Board Member, Daikoh Pharmaceutical Co., Ltd. Mar 2012 Outside Audit & Supervisory Board Member, Kokuyo Co., Ltd. Mar 2015 Outside Audit & Supervisory Board Member, Yamaha Motor Co., Ltd. Apr 2015 Partner, TMI Associates Jun 2016 Outside Director, SMBC Nikko Securities Inc. Jun 2017 Outside Audit & Supervisory Board Member, IHI Corporation Mar 2019 Audit & Supervisory Board Member of the Company (current) Mar 2021 Outside Audit & Supervisory Board Member, Kyowa Kirin Co., Ltd. Apr 2022 Representative, Tani Law & Accounting Office (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), NEC Corporation (current)
1960-05-30
Kenji KOMATSU
Audit & Supervisory Board Member (Part-time)
Apr 1978 Joined Mitsubishi Corporation Feb 1996 Joined GE International Inc. Jul 2005 President and Representative Director, Ecolab K.K. (now Ecolab LLC) Apr 2007 Senior Vice President, Ecolab Inc. Dec 2010 Senior Managing Executive Officer, Sanden Corporation Nov 2011 Joined Bain Capital Asia, LLC Mar 2013 Director, Representative Executive President and CEO, Bell System 24 Co., Ltd. Mar 2016 Chairman of the Board, Bell System 24 Holdings Co., Ltd. Jun 2016 Adviser, Coach A Co., Ltd. Dec 2018 Adviser, API Consultants Co., Ltd. Mar 2019 Audit & Supervisory Board Member of the Company (current) May 2020 Executive Vice President and Executive Officer, Fujitsu Component Limited (now FCL Components Ltd.) Oct 2022 Director, Fujitsu Component Limited Jan 2023 Representative Director and Chairman, Long Reach Business Partners Co., Ltd. Mar 2025 Outside Director, Nihon Aqua Co., Ltd. (current) Apr 2025 Chairman, Long Reach Business Partners Co., Ltd. (current) Jul 2025 Representative Executive President, FCL Components Ltd. (current)
1953-03-24
Nobuyuki FUJII
Audit & Supervisory Board Member (Part-time)
Apr 1982 Joined Fuji Bank, Ltd. (now Mizuho Bank, Ltd.) Apr 2009 Executive Officer, Mizuho Corporate Bank, Ltd. (now Mizuho Bank, Ltd.) Apr 2011 Managing Executive Officer, Mizuho Corporate Bank, Ltd. Apr 2012 Managing Executive Officer, Mizuho Bank, Ltd. Apr 2014 Senior Managing Director, Mizuho Bank, Ltd. Apr 2016 Deputy President and Director, Mizuho Bank, Ltd. Apr 2017 Executive Officer, Mizuho Financial Group, Inc.; Executive Officer, Mizuho Bank, Ltd. May 2017 Adviser, Yasuda Warehouse Co., Ltd. Jun 2017 Director and Executive Vice President, Yasuda Warehouse Co., Ltd. Jun 2018 Representative Director and President, Yasuda Warehouse Co., Ltd. Jun 2020 Representative Director, President and Executive Officer, Yasuda Warehouse Co., Ltd. Apr 2024 Representative Director, Chairman and Executive Officer, Yasuda Warehouse Co., Ltd. (current) Mar 2026 Audit & Supervisory Board Member of the Company (current)
1959-03-10
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—
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-21
Large Shareholding Report
EDINET
2026-10-21
Large Shareholding Report
EDINET
2026-09-24
Large Shareholding Report
EDINET
2026-09-24
Large Shareholding Report
EDINET
2026-08-07
中期経営計画
EDINET
2026-08-07
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-07
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-07-21
Large Shareholding Report
EDINET
2026-07-06
Large Shareholding Report
EDINET
2026-06-04
中期経営計画
TDnet
2026-05-13
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-25
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2026-03-24
中期経営計画
EDINET
2026-02-05
Large Shareholding Report
EDINET
2026-01-08
Large Shareholding Report
TDnet
2025-11-12
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-10-21
Large Shareholding Report
EDINET
2025-10-21
Large Shareholding Report
EDINET
2025-10-06
Large Shareholding Report
EDINET
2025-10-06
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
EDINET
2025-08-08
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINETAmended
2025-08-05
Change Report
TDnet
2025-05-14
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-09
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-27
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINETAmended
2024-02-29
Amended Annual Securities Report
Period: Jan 2018 – Dec 2018
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