Financials Asahi Kasei Corporation

Equities

3407

JP3111200006

Diversified Chemicals

Delayed Japan Exchange Other stock markets 14:30:00 22/01/2026 HKT			5-day change	1st Jan Change
1,508.00 ^JPY	+0.97%		+1.00%	+8.57%

01-09	Zoll Strengthens Growth Trajectory for Asahi Kasei's Healthcare Sector with U.S. Launch of the Next-Generation Lifevest®? Wcd	CI
01-06	Tranche Update on Asahi Kasei Corporation's Equity Buyback Plan announced on November 5, 2025.	CI

Projected Income Statement: Asahi Kasei Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	2,106,100	2,461,317	2,726,485	2,784,878	3,037,312	3,075,211	3,198,247	3,340,161
Change	-	16.87%	10.77%	2.14%	9.06%	1.25%	4%	4.44%
EBITDA ¹	280,200	350,776	305,003	322,942	398,027	401,714	436,837	466,155
Change	-	25.19%	-13.05%	5.88%	23.25%	0.93%	8.74%	6.71%
EBIT ¹	171,800	202,647	128,352	140,746	211,921	225,649	252,433	274,680
Change	-	17.96%	-36.66%	9.66%	50.57%	6.48%	11.87%	8.81%
Interest Paid ¹	-3,209	-3,643	-5,907	-7,448	-9,096	-5,528	-5,446	-5,363
Earnings before Tax (EBT) ¹	150,900	215,121	-61,906	28,843	194,602	200,802	235,983	261,983
Change	-	42.56%	-128.78%	146.59%	574.69%	3.19%	17.52%	11.02%
Net income ¹	79,800	161,880	-91,312	43,806	134,996	136,912	161,005	176,715
Change	-	102.86%	-156.41%	147.97%	208.17%	1.42%	17.6%	9.76%
Announcement Date	13/5/21	13/5/22	10/5/23	9/5/24	9/5/25	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1	2028 Q2
Net sales ¹	547,272	569,400	583,433	597,567	643,702	636,566	670,441	680,790	689,186	686,068	650,739	695,160	718,222	720,756	735,934	754,370	768,918	778,094	738,321	748,047	788,980	792,153	790,300	822,850	840,650	841,600	823,500	844,400
Change	-	4.04%	2.46%	2.42%	7.72%	-1.11%	5.32%	1.54%	1.23%	-0.45%	-5.15%	6.83%	3.32%	0.35%	2.11%	2.51%	1.93%	1.19%	-5.11%	1.32%	5.47%	0.4%	-0.23%	4.12%	2.16%	0.11%	-2.15%	2.54%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	52,746	42,300	60,510	52,590	60,912	28,591	49,361	36,447	30,514	12,030	21,791	34,109	42,612	42,234	49,873	59,027	55,474	47,547	53,653	53,801	61,743	56,089	60,300	61,750	73,100	63,400	59,600	65,400
Change	-	-19.8%	43.05%	-13.09%	15.82%	-53.06%	72.65%	-26.16%	-16.28%	-60.58%	81.14%	56.53%	24.93%	-0.89%	18.09%	18.35%	-6.02%	-14.29%	12.84%	0.28%	14.76%	-9.16%	7.51%	2.4%	18.38%	-13.27%	-5.99%	9.73%
Charge d'intérêts	-732	-	-904	-	-881	-	-957	-	-1,460	-	-1,501	-	-1,567	-	-1,989	-	-2,458	-	-2,803	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	46,776	-	68,407	-	66,604	29,319	49,596	31,129	22,309	-	18,981	-	41,054	-	49,389	-	57,152	-	25,771	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-55.98%	69.16%	-37.23%	-28.33%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	33,198	-179	46,428	44,872	49,372	21,218	29,831	21,889	14,323	-157,355	9,591	21,209	27,724	-14,718	34,092	26,108	38,227	36,569	19,716	46,550	47,017	37,750	28,300	43,350	51,200	44,300	37,000	45,900
Change	-	-100.54%	26,037.43%	-3.35%	10.03%	-57.02%	40.59%	-26.62%	-34.57%	-1,198.62%	106.1%	121.13%	30.72%	-153.09%	331.63%	-23.42%	46.42%	-4.34%	-46.09%	136.1%	1%	-19.71%	-25.03%	53.18%	18.11%	-13.48%	-16.48%	24.05%
Announcement Date	9/2/21	13/5/21	6/8/21	5/11/21	9/2/22	13/5/22	4/8/22	9/11/22	8/2/23	10/5/23	3/8/23	7/11/23	7/2/24	9/5/24	31/7/24	1/11/24	5/2/25	9/5/25	31/7/25	5/11/25	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2
Net sales ¹	1,181,000	1,280,268	1,351,231	1,375,254	1,345,900	1,438,978	1,490,300	1,547,012	1,486,368	1,577,567
Change	-	8.41%	5.54%	1.78%	-2.13%	6.92%	3.57%	3.81%	-3.92%	6.14%
EBITDA	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-
EBIT ¹	113,100	89,503	85,808	42,544	55,900	84,846	108,900	103,021	107,454	121,167
Change	-	-20.86%	-4.13%	-50.42%	31.39%	51.78%	28.35%	-5.4%	4.3%	12.76%
Charge d'intérêts	-1,779	-	-2,134	-	-3,287	-	-3,774	-	-5,849	-
Earnings before Tax (EBT)	119,198	-	80,725	-	53,967	-	97,123	-	96,630	-
Change	-	-	-	-	-	-	-	-	-	-
Net income ¹	91,300	-	51,720	-143,032	30,800	13,006	60,200	74,796	66,266	78,950
Change	-	-	-	-376.55%	121.53%	-57.77%	362.86%	24.25%	-11.4%	19.14%
Announcement Date	5/11/21	13/5/22	9/11/22	10/5/23	7/11/23	9/5/24	1/11/24	9/5/25	5/11/25	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Asahi Kasei Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	441,997	532,574	723,567	617,453	801,578	812,119	769,082	723,909
Change	-	20.49%	35.86%	-14.67%	29.82%	1.32%	-5.3%	-5.87%
Announcement Date	13/5/21	13/5/22	10/5/23	9/5/24	9/5/25	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Asahi Kasei Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	153,656	167,009	174,873	183,712	211,026	205,050	241,186	248,250
Change	-	8.69%	4.71%	5.05%	14.87%	-2.83%	17.62%	2.93%
Free Cash Flow (FCF) ¹	100,020	-37,748	-122,780	152,702	90,463	72,985	133,895	144,169
Change	-	-137.74%	-225.26%	224.37%	-40.76%	-19.32%	83.46%	7.67%
Announcement Date	13/5/21	13/5/22	10/5/23	9/5/24	9/5/25	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Asahi Kasei Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	13.3%	14.25%	11.19%	11.6%	13.1%	13.06%	13.66%	13.96%
EBIT Margin (%)	8.16%	8.23%	4.71%	5.05%	6.98%	7.34%	7.89%	8.22%
EBT Margin (%)	7.16%	8.74%	-2.27%	1.04%	6.41%	6.53%	7.38%	7.84%
Net margin (%)	3.79%	6.58%	-3.35%	1.57%	4.44%	4.45%	5.03%	5.29%
FCF margin (%)	4.75%	-1.53%	-4.5%	5.48%	2.98%	2.37%	4.19%	4.32%
FCF / Net Income (%)	125.34%	-23.32%	134.46%	348.59%	67.01%	53.31%	83.16%	81.58%
Profitability
ROA	6.23%	6.77%	3.57%	2.53%	5.04%	4.43%	4.92%	5.28%
ROE	5.6%	10.3%	-5.5%	2.5%	7.4%	7.15%	8.23%	8.7%
Financial Health
Leverage (Debt/EBITDA)	1.58x	1.52x	2.37x	1.91x	2.01x	2.02x	1.76x	1.55x
Debt / Free cash flow	4.42x	-14.11x	-5.89x	4.04x	8.86x	11.13x	5.74x	5.02x
Capital Intensity
CAPEX / Current Assets (%)	7.3%	6.79%	6.41%	6.6%	6.95%	6.67%	7.54%	7.43%
CAPEX / EBITDA (%)	54.84%	47.61%	57.33%	56.89%	53.02%	51.04%	55.21%	53.25%
CAPEX / FCF (%)	153.63%	-442.43%	-142.43%	120.31%	233.27%	280.95%	180.13%	172.19%
Items per share
Cash flow per share ¹	135.6	203	34.35	141.7	209.3	215.5	259.5	269.9
Change	-	49.7%	-83.08%	312.49%	47.71%	2.95%	20.42%	4.04%
Dividend per Share ¹	34	34	36	36	38	40.5	44.33	47.36
Change	-	0%	5.88%	0%	5.56%	6.58%	9.47%	6.84%
Book Value Per Share ¹	1,058	1,216	1,198	1,308	1,369	1,415	1,502	1,588
Change	-	15.01%	-1.48%	9.17%	4.66%	3.34%	6.14%	5.78%
EPS ¹	57.49	116.7	-65.84	31.6	97.94	101.2	119.6	131.6
Change	-	102.96%	-156.43%	148%	209.94%	3.36%	18.18%	10.01%
Nbr of stocks (in thousands)	1,387,539	1,387,294	1,386,070	1,386,174	1,359,123	1,358,271	1,358,271	1,358,271
Announcement Date	13/5/21	13/5/22	10/5/23	9/5/24	9/5/25	-	-	-