Financials Asahi Kasei Corporation

Equities

3407

JP3111200006

Diversified Chemicals

Delayed Japan Exchange Other stock markets 04:36:46 12/02/2026 GMT			5-day change	1st Jan Change
1,762.00 ^JPY	+1.53%		+7.41%	+26.82%

02-09	Elevra Lithium Limited Signs Non-Binding Memorandum of Understanding for Spodumene Concentrate Offtake with Mangrove Lithium	CI
02-04	Asahi Kasei Corporation Revises Earnings Guidance for the Full Year Ending March 31, 2026	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	3,078,766	3,206,012	3,340,417
Change	-	16.87%	10.77%	2.14%	9.06%	1.36%	4.13%	4.19%
EBITDA ¹	280,200	350,776	305,003	322,942	398,027	421,950	439,734	468,972
Change	-	25.19%	-13.05%	5.88%	23.25%	6.01%	4.21%	6.65%
EBIT ¹	171,800	202,647	128,352	140,746	211,921	227,466	255,746	277,861
Change	-	17.96%	-36.66%	9.66%	50.57%	7.34%	12.43%	8.65%
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	204,931	240,566	265,644
Change	-	42.56%	-128.78%	146.59%	574.69%	5.31%	17.39%	10.42%
Net income ¹	79,800	161,880	-91,312	43,806	134,996	139,309	164,007	179,460
Change	-	102.86%	-156.41%	147.97%	208.17%	3.19%	17.73%	9.42%
Announcement Date	13/05/21	13/05/22	10/05/23	09/05/24	09/05/25	-	-	-

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	774,895	813,367	822,400	825,300	828,600	853,300	848,400	852,100
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%	3.59%	4.96%	1.11%	0.35%	0.4%	2.98%	-0.57%	0.44%
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	66,495	56,297	65,200	65,900	71,100	61,000	68,800	69,600
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%	23.59%	-15.34%	15.81%	1.07%	7.89%	-14.21%	12.79%	1.16%
Charge d'intérêts	-732	-	-904	-	-881	-	-957	-	-1,460	-	-1,501	-	-1,567	-	-1,989	-	-2,458	-	-2,803	-	-3,204	-	-	-	-	-	-	-
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	-	77,644	-	-	-	-	-	-	-
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	54,341	38,046	41,600	44,800	49,200	26,800	43,200	48,300
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%	16.74%	-29.99%	9.34%	7.69%	9.82%	-45.53%	61.19%	11.81%
Announcement Date	09/02/21	13/05/21	06/08/21	05/11/21	09/02/22	13/05/22	04/08/22	09/11/22	08/02/23	10/05/23	03/08/23	07/11/23	07/02/24	09/05/24	31/07/24	01/11/24	05/02/25	09/05/25	31/07/25	05/11/25	04/02/26	-	-	-	-	-	-	-

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	05/11/21	13/05/22	09/11/22	10/05/23	07/11/23	09/05/24	01/11/24	09/05/25	05/11/25	-

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	792,387	733,976	675,172
Change	-	20.49%	35.86%	-14.67%	29.82%	-1.15%	-7.37%	-8.01%
Announcement Date	13/05/21	13/05/22	10/05/23	09/05/24	09/05/25	-	-	-

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	256,025	235,423	241,900
Change	-	8.69%	4.71%	5.05%	14.87%	21.32%	-8.05%	2.75%
Free Cash Flow (FCF) ¹	100,020	-37,748	-122,780	152,702	90,463	96,711	141,137	146,282
Change	-	-137.74%	-225.26%	224.37%	-40.76%	6.91%	45.94%	3.65%
Announcement Date	13/05/21	13/05/22	10/05/23	09/05/24	09/05/25	-	-	-

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%	13.71%	13.72%	14.04%
EBIT Margin (%)	8.16%	8.23%	4.71%	5.05%	6.98%	7.39%	7.98%	8.32%
EBT Margin (%)	7.16%	8.74%	-2.27%	1.04%	6.41%	6.66%	7.5%	7.95%
Net margin (%)	3.79%	6.58%	-3.35%	1.57%	4.44%	4.52%	5.12%	5.37%
FCF margin (%)	4.75%	-1.53%	-4.5%	5.48%	2.98%	3.14%	4.4%	4.38%
FCF / Net Income (%)	125.34%	-23.32%	134.46%	348.59%	67.01%	69.42%	86.06%	81.51%
Profitability
ROA	6.23%	6.77%	3.57%	2.53%	5.04%	4.45%	4.94%	5.3%
ROE	5.6%	10.3%	-5.5%	2.5%	7.4%	7.37%	8.34%	8.79%
Financial Health
Leverage (Debt/EBITDA)	1.58x	1.52x	2.37x	1.91x	2.01x	1.88x	1.67x	1.44x
Debt / Free cash flow	4.42x	-14.11x	-5.89x	4.04x	8.86x	8.19x	5.2x	4.62x
Capital Intensity
CAPEX / Current Assets (%)	7.3%	6.79%	6.41%	6.6%	6.95%	8.32%	7.34%	7.24%
CAPEX / EBITDA (%)	54.84%	47.61%	57.33%	56.89%	53.02%	60.68%	53.54%	51.58%
CAPEX / FCF (%)	153.63%	-442.43%	-142.43%	120.31%	233.27%	264.73%	166.8%	165.37%
Items per share
Cash flow per share ¹	135.6	203	34.35	141.7	209.3	213.8	263.5	274.2
Change	-	49.7%	-83.08%	312.49%	47.71%	2.17%	23.21%	4.06%
Dividend per Share ¹	34	34	36	36	38	40.5	44.36	47.1
Change	-	0%	5.88%	0%	5.56%	6.58%	9.54%	6.17%
Book Value Per Share ¹	1,058	1,216	1,198	1,308	1,369	1,409	1,516	1,604
Change	-	15.01%	-1.48%	9.17%	4.66%	2.91%	7.58%	5.81%
EPS ¹	57.49	116.7	-65.84	31.6	97.94	102.9	122	134
Change	-	102.96%	-156.43%	148%	209.94%	5.08%	18.5%	9.87%
Nbr of stocks (in thousands)	1,387,539	1,387,294	1,386,070	1,386,174	1,359,123	1,356,443	1,356,443	1,356,443
Announcement Date	13/05/21	13/05/22	10/05/23	09/05/24	09/05/25	-	-	-