Japan’s Asahi Kasei 9-month income surges; basic materials swing to profit
Nurluqman Suratman
05-Feb-2025
SINGAPORE (ICIS)–Asahi Kasei’s net income surged by 68.1% year on year in the nine months to December 2024, supported by improved petrochemical prices and lower fixed costs, the Japanese chemicals major said on Wednesday.
in Japanese yen (Y) billions | Apr-Dec 2024 | Apr-Dec 2023 | % Change |
Sales | 2,259.3 | 2,064.1 | 9.5 |
Operating income | 164.4 | 98.5 | 66.9 |
EBITDA | 299.8 | 233.4 | 28.4 |
Net income | 98.5 | 58.6 | 68.1 |
Basic Materials (Core Petrochemicals) Business
in Japanese yen (Y) billions | Apr-Dec 2024 | Apr-Dec 2023 | % Change |
Sales | 241.7 | 219.2 | 10.3 |
Operating income | 12 | -8.4 | – |
The company’s basic materials unit swung to an operating profit of Y12 billion ($78.2 millon) in April-December 2024 on the back of higher sales revenues, the company said in a statement.
Asahi Kasei has revised its year to March 2025 forecasts for sales and operating income reflect an seasonal dip in demand and increased fixed costs in the final quarter of the fiscal year.
Overall sales are now expected to reach Y3.04 trillion, a 9.3% increase from the previous fiscal year.
However, this new projection represents a 0.9% decrease from the company’s November estimate.
Full-year operating income is now projected to reach Y200 billion, up 42.1% from actual 2023 figures, and up by 2.6% from the company’s previous forecast.
Asahi Kasei expects its net income for the full year to surge to ¥110 billion, more than double the ¥43.8 billion recorded in the previous fiscal year.
The company aims continue to “advance its business portfolio transformation; accelerating studies on structural transformation of petrochemical chain-related businesses centered on basic materials while advancing investment in growth businesses”, it added.
In January this year, Asahi Kasei ceased operations at its Thailand-based joint venture PTT Asahi Chemical.
($1 = Y153.43)
Thumbnail image: At a port in Tokyo, Japan 9 December 2024. (FRANCK ROBICHON/EPA-EFE/Shutterstock)
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