Japan's Asahi Kasei to increase operating profit by 63% over 5 years

17 May 2011 11:48  [Source: ICIS news]

TOKYO (ICIS)--Asahi Kasei Corporation plans to increase its overall full-year operating profit by around 63% over five years to yen (Y) 200bn ($2.48bn) from Y122.9bn in fiscal 2010, the Japanese chemical producer said on Tuesday.

Asahi Kasei said in its new mid-term management initiative, which started in April 2011 and will last until 31 March 2016, that it aimed to generate total net sales of Y2,000bn by fiscal 2015 ending 31 March 2016, up 25% from fiscal 2010 ended 31 March 2011.

The target for the full-year operating profit in the chemical and resin segment for fiscal 2015 was Y75bn, up 9.3% from Y68.6bn in fiscal 2010, the company said.

The producer aims to achieve full-year net sales of Y880bn in the chemical and resin segment in the year ending 31 March 2016, a 3.4% increase from Y851.0bn in the year to 31 March 2011, Asahi Kasei said.

It also planned to invest a total of Y1,000bn in its existing and new businesses as well as mergers and acquisitions by the year ending 31 March 2016, it added.

Asahi Kasei aims to further expand global No 1 and No 2 businesses, such as acrylonitrile (ACN), solution-polymerised styrene-butadiene rubber (S-SBR) and Li-ion battery separators, to serve global demand growth in emerging markets, it said.

($1 = Y80.76)

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By: Tomomi Yokomura
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