Asahi Kasei Corporation TSE:3407
Asahi Kasei : Financial Results Presentation Material, fiscal 2025
Source: MarketScreener
Head Office: 1-1-2 Yurakucho, Chiyoda-ku, Tokyo, Japan Security code: 3407
Contact: Corporate Communications, Phone +81-3-6699-3008, Fax +81-3-6699-3187
(All figures in millions of yen, rounded to the nearest million, unless otherwise specified)
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Summary of Consolidated Results
Operating results (percent change from previous year in brackets)
May 12, 2026
FY 2025
FY 2024
Net sales
3,074,505 [+1.2%]
3,037,312 [+9.1%]
Operating income
231,200 [+9.1%]
211,921 [+50.6%]
Ordinary income
230,419 [+19.1%]
193,459 [+114.7%]
Net income attributable to owners of the parent
158,793 [+17.6%]
134,996 [+208.2%]
Net income per share*
116.97
97.94
Diluted net income per share*
-
-
Net income/shareholders' equity
8.0%
7.4%
Ordinary income/total assets
5.7%
5.0%
Operating income/net sales
7.5%
7.0%
Notes:
Comprehensive income was ¥293,277 million during fiscal 2025, and ¥131,466 million during fiscal 2024.
Equity in earnings of affiliates was ¥8,993 million during fiscal 2025, and ¥(7,188) million during fiscal 2024.
Financial position
* Yen
At fiscal year end March
2026
2025
Total assets
4,137,943
4,015,214
Net assets
2,165,647
1,913,944
Net worth/total assets
50.5%
46.3%
Net worth per share*
1,539.66
1,369.16
* Yen
Notes:
Net worth consists of shareholders' equity and accumulated other comprehensive income.
Net worth was ¥2,088,458 million as of March 31, 2026, and ¥1,859,420 million as of March 31, 2025.
Cash flows
FY 2025
FY 2024
Cash flows from operating activities
303,104
301,489
Cash flows from investing activities
(106,873)
(381,150)
Cash flows from financing activities
(245,354)
144,567
Cash and cash equivalents at end of period
372,068
390,035
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Cash Dividends
Fiscal year
Q1
Cash dividends per share*
Q2 Q3 Q4
Total annual
Total annual dividend amount
Dividends/ consolidated net income
Dividends/ consolidated net worth
2024
-
18.00
-
20.00
38.00
52,174
38.8%
2.8%
2025
-
20.00
-
22.00
42.00
57,105
35.9%
2.9%
2026
(forecast)
-
22.00
-
22.00
44.00
36.8%
* Yen
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Forecast for Fiscal 2026 (April 1, 2026 - March 31, 2027)
(percent change from same period of previous year in brackets)
Net sales
3,254,000 [+5.8%]
Operating income
248,000 [+7.3%]
Ordinary income
247,500 [+7.4%]
Net income attributable to owners of the parent
160,000 [+0.8%]
Net income per share*
119.65
* Yen
Note:
Performance forecasts are based on the best information available at this time, but actual results may diverge from these forecasts due to a variety of factors which cannot be foreseen.
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Other Information
Significant changes in the scope of consolidation during the period 21 companies eliminated:
Asahi Kasei Medical Co., Ltd. and 4 consolidated subsidiaries
Nagase Diagnostics Co., Ltd.
Daramic, LLC and 14 consolidated subsidiaries
Changes in accounting policies, changes in accounting estimates, and retroactive restatement None
Changes in presentation
Consolidated statements of income:
Foreign exchange loss, which was reported separately under non-operating expenses for the fiscal year ended March 31, 2025, is included in other under non-operating expenses for the fiscal year ended March 31, 2026, due to decreased materiality. Consolidated statements of income for the fiscal year ended March 31, 2025, are restated to reflect this change. As a result, foreign exchange loss, previously reported to be ¥5,624 million, is included in other under non-operating expenses.
Number of shares outstanding
FY 2025
FY 2024
Number of shares outstanding at end of period
1,365,751,932
1,365,751,932
Number of shares of treasury stock at end of period
9,311,227
7,683,150
Average number of shares outstanding during period
1,357,526,243
1,378,342,060
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Summary of Non-Consolidated Results
Results for fiscal 2025 (April 1, 2025 - March 31, 2026)
Operating results (percent change from previous year in brackets)
FY 2025
FY 2024
Net sales
650,795 [-10.4%]
726,492 [+6.6%]
Operating income
(3,452) [－]
650 [－]
Ordinary income
64,016 [+292.3%]
16,319 [-91.5%]
Net income
112,995 [+205.2%]
37,022 [-78.2%]
Net income per share*
83.24
26.86
Diluted net income per share*
-
-
* Yen
Financial position
At fiscal year end March
2026
2025
Total assets
2,189,084
2,177,563
Net assets
600,446
566,480
Net worth/total assets
27.4%
26.0%
Net worth per share*
442.66
417.12
* Yen
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Overview of Consolidated Results
Consolidated group results
Net sales reached ¥3,074.5 billion, an increase of ¥37.2 billion from a year ago, and operating income reached ¥231.2 billion, an increase of ¥19.3 billion. Material had decreased income with impacts of maintenance turnaround and inventory valuation in Essential Chemical, while Healthcare had income growth in Pharmaceuticals and Homes had firm performance in domestic Housing. Ordinary income increased by ¥37.0 billion to ¥230.4 billion with substantial recovery of equity in earnings of affiliates. Net income attributable to owners of the parent increased by
¥23.8 billion to ¥158.8 billion with lower income tax expenses than a year ago, although business structure improvement expenses increased.
Regarding non-consolidated results, net sales decreased by ¥75.7 billion to ¥650.8 billion, there was an operating loss of ¥3.5 billion representing a ¥4.1 billion decline from the operating income of the previous year, ordinary income increased by ¥47.7 billion to ¥64.0 billion, and net income increased by ¥76.0 billion to ¥113.0 billion. Decreases in net sales and operating income were largely due to sluggish performance of businesses in the Material segment. Increases in ordinary income and net income were largely an effect of increased dividends received from consolidated subsidiaries than in the previous year as well as recording gain on sale of shares of subsidiaries and associates.
Results by operating segment
The Asahi Kasei Group's operations are described by major business classification: three reportable segments of Healthcare, Homes, and Material, together with an "Others" category.
Healthcare and Homes had increased operating income, with income growth in
Pharmaceuticals and firm performance in domestic Housing, respectively. Material had decreased operating income with impacts of inventory valuation and maintenance turnaround in Essential
Chemical.
Healthcare
Sales increased by ¥48.2 billion from a year ago to ¥664.1 billion, and operating income increased by ¥19.4 billion from a year ago to ¥83.5 billion.
Operating income in Pharmaceuticals increased with increased shipments of mainstay
products and the effect of consolidation of Calliditas Therapeutics AB of Sweden in October 2024. In Life Science, although shipments of Planova increased, operating income decreased with higher SG&A expenses and the impact of divestiture of the blood purification business. In Critical Care, although there was a greater number of new patients for LifeVest and a new product launch in professional defibrillators, operating income decreased with higher SG&A expenses.
Homes
Sales increased by ¥41.5 billion from a year ago to ¥1,077.4 billion, and operating income increased by ¥3.9 billion from a year ago to ¥99.8 billion.
Operating income in order-built homes increased as larger and higher value-added units resulted in higher average unit prices. In real estate development, although the number of
condominium units delivered decreased, operating income increased with improved product mix and lower fixed costs. Operating income in rental/brokerage increased with a greater number of units under management and more homes brokered. Operating income in Construction Materials increased with progress in passing on increased costs.
Operating income in overseas homes decreased with lower volume and lower prices in the North American business due to diminished housing demand.
Material
Sales decreased by ¥62.5 billion from a year ago to ¥1,306.2 billion, and operating income decreased by ¥11.6 billion from a year ago to ¥68.3 billion.
Operating income in Electronics increased with greater sales of mainstay products supported by robust demand in semiconductor and electronic device applications, especially for AI servers and high-end smartphones.
Operating income in Essential Chemical decreased with impacts of inventory valuation and a
large-scale maintenance turnaround in Mizushima. In Car Interior, although sales in Europe were firm, operating income decreased with lower shipments in China and North America and higher fixed costs. In Energy & Infrastructure, although sales volume of ion-exchange process chlor-
alkali electrolysis plants increased, operating income decreased with the impact of divestiture of the lead battery separator business and greater SG&A expenses and lower selling prices in the Hipore
business. Operating income in Comfort Life and Performance Chemical decreased, with lower shipments of fibers, and impacts of inventory valuation due to lower market prices as well as maintenance turnaround, respectively.
Others
Sales increased by ¥9.9 billion from a year ago to ¥26.7 billion, and operating income increased by
¥1.0 billion from a year ago to ¥3.9 billion.