Japan's Asahi Kasei to boost sales to Y2,000bn in fiscal 2015

21 May 2012 08:57  [Source: ICIS news]

SINGAPORE (ICIS)--Japanese chemical group Asahi Kasei said on Monday it aims to record yen (Y) 2,000bn ($25bn) in sales revenue and Y200bn in operating profit for its 2015 fiscal year.

“The operating climate for the Asahi Kasei Group is a challenging one, with global economic stagnation, a high exchange value of the yen and elevated prices of feedstocks and fuel,” the company said in a statement.

Asahi Kasei said it aims to expand its businesses in order to meet these challenges, while implementing measures to improve its earnings structure.

In the near term, the company aims to accelerate the growth of its critical care businesses and other products in the US, while planning to establish a “world-leading position” in critical care in the long-term.

Asahi Kasei set aside Y1,000bn in its 2011–2015 master plan to be used for expansions, including operations in fields related to the environment and energy, residential living and healthcare.

Of this amount, some Y100bn was used in its 2011 fiscal year for the expansion of existing operations, including a new solution-polymerised styrene butadiene rubber (SBR) unit in Singapore, as well as an additional acrylonitrile (ACN) plant and a new acetonitrile facility in South Korea.

In April 2012, Asahi Kasei completed a tender offer process to acquire ZOLL Medical Corporation – a US manufacturer of critical care devices – for $2.21bn (€1.72bn).

The company’s net sales rose by 1.1% year on year to Y1,573bn in the full-year period ending 31 March this year, while operating income fell by 15.2% year on year to Y104.3bn, the company said in a statement.

($1 = Y79, $1 = €0.78)

By: Nurluqman Suratman

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