Asahi Kasei Report

The Asahi Kasei Group’s annual business activities are described, as well as business strategies and other information.

Latest Asahi Kasei Report

Asahi Kasei Report 2024

Reference

Detailed Consolidated Financial Statements

Asahi Kasei Report

The Asahi Kasei Report is an integrated report designed to communicate to stakeholders the progress of the Asahi Kasei Group’s management policies and efforts to improve corporate value. Asahi Kasei Report 2024 is structured around six practical questions posed by our stakeholders, primarily investors.

Fiscal 2024 is the final year of our current medium-term management plan (MTP) focused on the theme “Be a Trailblazer.” Factors including a sharper-than-anticipated deterioration in the operating environment necessitated a downward revision of the original final targets of the MTP. Nevertheless, our performance has trended upward since a nadir in fiscal 2022, with strong businesses achieving high growth. Leveraging our stable financial foundation, we continue to promote growth strategies and structural transformation focused on the future. In contrast, we believe that capital market expectations, as indicated by our share price, remain low. This indicates a gap between what we believe to be the value of the Asahi Kasei Group and the value that investors perceive. In Asahi Kasei Report 2024, we endeavor to directly address and fully answer the questions of stakeholders to bridge that gap, and to strengthen the understanding of our vision for improving our corporate value.

We welcome your candid opinions and look forward to continuing to engage in various forms of dialogue.

Message from the President	03　Message from the President How will Asahi Kasei achieve growth henceforth? 11　The Asahi Kasei Group The Asahi Kasei Group’s Corporate Philosophy, History of Business Portfolio Transformation and Growth, Business Overview, and Business Operations 15　Overview of the Medium-Term Management Plan for Realizing Our Vision Both Growth Investments and Structural Transformation in Medium-Term Management Plan 2024—Be a Trailblazer
Q1 Why does Asahi Kasei have three-sector management?	17　Value Creation Model 18　Value Creation Mechanism Significance of Asahi Kasei’s three-sector management 23　Materiality (Priority Issues and Subjects) Focusing on key subjects for value creation
Q2 How will you raise your persistently low P/B ratio?	25　Message from the CFO Aiming for a higher P/B ratio by improving profitability and capital efficiency through accelerated business portfolio transformation
Q3 How will you focus resources on growth businesses?	31　Special Feature—North American Strategy for Hipore™ Expansion in North America for medium-to-long-term growth of Hipore™ lithium-ion battery separator business 33　Both Structural Transformation and Growth Investments Accelerating business portfolio transformation, through structural transformation, Continuous growth through strategic investments in GG10 businesses and M&A 36　Strategies by Sector 36　Material sector Message from the Head of the Material Sector GG10: Digital Solutions 39　Homes sector Message from the Head of the Homes Sector GG10: North American and Australian Homes 42　Health Care sector Message from the Head of the Health Care Sector GG10: Critical Care GG10: Global Specialty Pharma 46　Viewing Asahi Kasei’s Business Portfolio from an External Perspective Chieko Matsuda, Outside Director Dynamic corporate management capable of flexible transformation as a major strength
Q4 What actions are you taking for carbon neutrality?	48　Green Transformation (GX) Message from the Head of the Sustainability Strategy Planning Department, Toward a carbon neutral and sustainable world
Q5 How will you use intangible assets to improve corporate value?	58　Special Feature—A-Spirit: Contributing to the Maximization of Intangible Assets The A-Spirit of Team Pimel: The force behind the adoption of Pimel™ in the world’s most cutting-edge technology 60　Maximizing Use of Intangible Assets Overview of Asahi Kasei’s intangible assets 61　Transformation of HR Message from the Executive Officer for HR, Human resource strategies for corporate value enhancement 66　Research and Development Driving business portfolio transformation by combining diverse core technologies 69　Intellectual Property Enhancing corporate value with intellectual property 70　Digital Transformation Message from the Executive Officer for DX, Digital Normal Period with participation by all, on-site initiative, and co-creation 73　Viewing Asahi Kasei’s Intangible Assets from an External Perspective Yuko Maeda, Outside Director Co-creation across different fields leveraging three-sector management
Q6 How does your corporate governance function?	75　Directors and Audit & Supervisory Board Members 78　Special Feature—Corporate Governance Effectiveness of the Board of Directors 80　Recent history of changes in corporate governance 86　Risk Management Strengthening of risk management in view of business diversity 88　Environmental Protection Ensuring the safety of employees and communities 89　Respect for Human Rights / CSR Procurement Responsible business practices throughout the value chain 90　Compliance / Information Security Strengthening the foundations of integrity and security 91　Health and Productivity Management Vibrant human resources and workplaces rooted in the health of employees and their families 92　Communication with Stakeholders Internal and external dialogue for trustworthy corporate activities
Basic Information	94　Financial Highlights 95　Non-Financial Highlights 96　Consolidated Financial Statements 101　Corporate Profile / Stock Information 102　External Evaluation 103　The Asahi Kasei Group’s Information Structure

Previous reports

2023	Asahi Kasei Report 2023
2022	Asahi Kasei Report 2022
2021	Asahi Kasei Report 2021
2020	Asahi Kasei Report 2020
2019	Asahi Kasei Report 2019
2018	Asahi Kasei Report 2018
2017	Asahi Kasei Report 2017
2016	Asahi Kasei Report 2016
2015	Asahi Kasei Report 2015
2014	Asahi Kasei Report 2014
2013	Annual Report 2013
2012	Annual Report 2012
2011	Annual Report 2011
2010	Annual Report 2010
2009	Annual Report 2009
2008	Annual Report 2008
2007	Annual Report 2007
2006	Annual Report 2006

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Asahi Kasei Report

Latest Asahi Kasei Report