Overview
Chemicals

ASAHI KASEI CORPORATION

Asahi Kasei Corporation is a diversified Japanese conglomerate operating across three core segments: Material (petrochemicals, battery separators, engineering resins, electronic materials), Housing (prefabricated housing, construction materials including ALC, and real estate), and Healthcare (pharmaceuticals, medical devices including blood purification and critical care equipment). The company serves global markets through approximately 368 group companies, with key products including lithium-ion battery separators, mixed-signal LSIs, AED/cardiac care devices under ZOLL Medical, and the iconic 'Hebel Haus' prefabricated housing brand. Asahi Kasei leverages its vertically integrated chemical and materials capabilities alongside acquisitions in the U.S. and European markets to maintain competitive positions across its diversified business portfolio.

Market Cap
¥2,121B
US$13.5B
EV
¥2,924B
US$18.7B
Stock¥1,575.5▼-0.94%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
6.9
x
LTM EV/EBIT
11.0
x
LTM PER
11.0
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+6.9%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Mar 4, 26Relative underperformance vs market
2Mar 19, 26Relative underperformance vs market
3Mar 23, 26Relative underperformance vs market
MC → EV Bridge
2,121BUS$13.5BMarket Cap1,249BUS$7.97B+ Debt387BUS$2.47B− Cash138BUS$881M− Inv. Sec.79.8BUS$509M+ NCI2,924BUS$18.7BEV
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Performance & Balance
Revenue 5Y (¥B)
2,461US$15.7B'22/32,726US$17.4B'23/32,785US$17.8B'24/33,037US$19.4B'25/33,075US$19.6B'26/3
EBITDA 5Y (¥B)
322US$2.06B'22/3268US$1.71B'23/3293US$1.87B'24/3365US$2.33B'25/3394US$2.51B'26/3
Net Income 5Y (¥B)
162US$1.03B'22/3-91.3-US$582M'23/343.8US$279M'24/3135US$861M'25/3159US$1.01B'26/3
Capital Structure
63%
37%
EquityD/E 0.59xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
491US$3.13B777US$4.96B'22/3464US$2.96B975US$6.22B'23/3526US$3.36B956US$6.09B'24/3562US$3.58B1,195US$7.62B'25/3517US$3.30B1,011US$6.45B'26/3
Shareholders
Top 10 hold 35.4%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
14.72%
2
Custody Bank of Japan, Ltd. (Trust Account)
5.96%
3
Nippon Life Insurance Company
3.01%
4
ASAHI KASEI CORPORATION Employee Stock Ownership Association
2.64%
5
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.17%
6
Sumitomo Life Insurance Company
1.48%
7
Mizuho Trust & Banking Co., Ltd. (Retirement Benefit Trust, Mizuho Bank, Ltd. Account; Re-trustee: Custody Bank of Japan, Ltd.)
1.46%
8
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.36%
9
Meiji Yasuda Life Insurance Company
1.35%
10
Tokio Marine & Nichido Fire Insurance Co., Ltd.
1.21%
Management
13 officers
Hideki KOBORI
Chairman of the Board, Director
Apr 1978 Joined the Company Apr 2008 Director and Managing Executive Officer, Asahi Kasei Electronics Co., Ltd. Apr 2009 Senior Managing Executive Officer, Asahi Kasei Electronics Co., Ltd. Apr 2010 President and Executive Officer, Asahi Kasei Electronics Co., Ltd. Apr 2012 Managing Executive Officer, the Company Jun 2012 Director, the Company (current) Apr 2014 Representative Director and Senior Managing Executive Officer, the Company Apr 2016 Director and President, Executive Officer, the Company Apr 2022 Chairman of the Board, Director, the Company (current)
1955-02-02
Kōshirō KUDO
Representative Director, President
Apr 1982 Joined the Company Apr 2013 Executive Officer, Asahi Kasei Fibers Corporation Apr 2016 Senior Executive Officer, the Company Apr 2017 General Manager, Fibers Business Division, and President, Osaka Branch, the Company Apr 2019 Managing Executive Officer and General Manager, Performance Products Business Division, the Company Jun 2021 Director, the Company (current) Apr 2022 Representative Director, the Company (current); Director and President, the Company (current); President and Executive Officer, the Company (current)
1959-06-05
Toshiyasu HORIE
Representative Director
Apr 1985 Joined the Company Apr 2015 General Manager, Business Management Division, Asahi Kasei Chemicals Corporation Apr 2016 General Manager, Planning and Management Division, Petrochemicals Business Division, the Company Apr 2019 Executive Officer, the Company Apr 2020 Senior Executive Officer, the Company Apr 2022 Managing Executive Officer, the Company Jun 2022 Director, the Company (current) Apr 2023 Representative Director, the Company (current) Apr 2024 Senior Managing Executive Officer, the Company (current)
1962-12-30
Masatsugu KAWASE
Director
Apr 1990 Joined the Company Apr 2016 General Manager, Basic Chemicals Business Division, Petrochemicals Business Division, the Company Apr 2018 General Manager, Production Planning Department, Production Division, the Company Apr 2020 Senior Executive, the Company Apr 2021 Senior Executive Officer and General Manager, Production Division, the Company Apr 2023 Managing Executive Officer, the Company Jun 2023 Director, the Company (current) Apr 2025 Senior Managing Executive Officer, the Company (current)
1965-03-09
Yuko MAEDA
Outside Director
Apr 1984 Joined Bridgestone Corporation Sep 2003 Director, Technology Transfer Center and Intellectual Property Manager, Intellectual Property Headquarters, Tokyo Medical and Dental University (National University Corporation) Oct 2009 Visiting Professor, Tokyo Medical and Dental University Oct 2011 Specially Appointed Professor, Kyoto Prefectural University of Medicine May 2013 Executive Officer, Bridgestone Corporation Apr 2014 Auditor, Japan Agency for Marine-Earth Science and Technology (National Research and Development Agency) Jan 2017 Director, CellBank Co., Ltd. (current) Oct 2020 Executive Director, Kyushu University (National University Corporation) Jun 2021 Director, the Company (current)
1960-07-26
Chieko MATSUDA
Outside Director
Apr 1987 Joined The Long-Term Credit Bank of Japan, Ltd. Oct 1998 Joined Moody's Japan K.K. Sep 2001 Partner, Corporate Directions, Inc. Oct 2006 Vice President (Partner), Booz & Company Inc. Apr 2011 Professor, Faculty of Economics and Business Administration, Tokyo Metropolitan University (current); Professor, Graduate School of Management, Tokyo Metropolitan University (current) Jun 2023 Director, the Company (current)
1964-11-18
Yoshinori YAMASHITA
Outside Director
Mar 1980 Joined Ricoh Company, Ltd. Apr 2008 President, RICOH ELECTRONICS, INC. Apr 2010 Group Executive Officer, Ricoh Company, Ltd. Apr 2011 Managing Executive Officer and General Manager, General Corporate Planning Office, Ricoh Company, Ltd. Jun 2012 Director (current) and Senior Managing Executive Officer, Ricoh Company, Ltd. Apr 2014 General Manager, Business Solutions Business Division, Ricoh Company, Ltd. Jun 2016 Executive Vice President and Executive Officer, Ricoh Company, Ltd. Apr 2017 Representative Director, President and Executive Officer, CEO, Ricoh Company, Ltd. Apr 2023 Chairman, Ricoh Company, Ltd. (current) Jun 2024 Director, the Company (current)
1957-08-22
Hiroyuki OGAWA
Outside Director
Apr 1985 Joined Komatsu Ltd. Apr 2010 Executive Officer and General Manager, Ibaraki Plant, Production Division, Komatsu Ltd. Apr 2013 General Manager, Procurement Division, Production Division, Komatsu Ltd. Apr 2014 General Representative, Indonesia, and Chairman, PT Komatsu Marketing and Support Indonesia, Komatsu Ltd. Apr 2015 Managing Executive Officer, Komatsu Ltd. Apr 2016 General Manager, Production Division, Komatsu Ltd. Apr 2018 Senior Managing Executive Officer, Komatsu Ltd. Jun 2018 Director, Komatsu Ltd. (current) Apr 2019 Representative Director, President and CEO, Komatsu Ltd. Apr 2025 Chairman of the Board, Director, Komatsu Ltd. (current) Jun 2026 Director, the Company (current)
1961-03-23
Takuya MAGARA
Standing Audit & Supervisory Board Member
Apr 1982 Joined the Company Apr 2012 Executive Officer, Asahi Kasei Homes Corporation Apr 2014 Director and Managing Executive Officer, Asahi Kasei Homes Corporation Apr 2016 Senior Managing Executive Officer, Asahi Kasei Homes Corporation Apr 2018 Executive Vice President, Asahi Kasei Homes Corporation Apr 2022 Advisor, Asahi Kasei Homes Corporation Jun 2023 Audit & Supervisory Board Member, the Company (current)
1957-12-11
Hiroki DEGUCHI
Standing Audit & Supervisory Board Member
Apr 1985 Joined the Company Apr 2016 General Manager, Management Division, Asahi Kasei Pharma Corporation Apr 2017 Executive Officer, Asahi Kasei Pharma Corporation Apr 2019 Executive Officer and General Manager, Corporate Planning Department, the Company Apr 2020 Senior Executive Officer, the Company Apr 2022 Managing Executive Officer, the Company Jun 2023 Director, the Company Jun 2025 Audit & Supervisory Board Member, the Company (current)
1962-11-09
Akemi MOCHIZUKI
Outside Audit & Supervisory Board Member
Oct 1984 Joined Aoyama Audit Corporation Mar 1988 Registered as Certified Public Accountant Aug 1996 Joined Tohmatsu & Co. (now Deloitte Touche Tohmatsu LLC) Jun 2001 Partner, Tohmatsu & Co. (renamed Partner) Jul 2018 Partner, Meisei Audit Corporation Jun 2021 Audit & Supervisory Board Member, the Company (current)
1954-06-10
Haruyuki URATA
Outside Audit & Supervisory Board Member
Apr 1977 Joined Orient Leasing Co., Ltd. (now ORIX Corporation) Feb 2005 Executive Officer, ORIX Corporation Aug 2006 Senior Executive Officer, ORIX Corporation Jun 2007 Managing Director, ORIX Corporation Jan 2008 Vice President, Director, ORIX Corporation Jan 2009 Vice President, Director and Group CFO, ORIX Corporation Jan 2011 Representative Director, Vice President and Group CFO, ORIX Corporation Jun 2015 Representative Director and President, ORIX Bank Corporation Jun 2020 Chairman, Director, ORIX Bank Corporation Jun 2021 Special Advisor, ORIX Bank Corporation Jun 2022 Audit & Supervisory Board Member, the Company (current)
1954-11-08
Yoshikazu OCHIAI
Outside Audit & Supervisory Board Member
Apr 1986 Appointed Public Prosecutor Oct 2015 Deputy Chief Public Prosecutor, Tokyo District Public Prosecutors Office Apr 2017 Chief Public Prosecutor, Saitama District Public Prosecutors Office Feb 2018 Chief Prosecutor, Criminal Affairs Department, Supreme Public Prosecutors Office Jul 2020 Deputy Prosecutor General, Supreme Public Prosecutors Office Jun 2022 Prosecutor General, Tokyo High Public Prosecutors Office Jan 2023 Retired from public service Apr 2023 Registered as Attorney-at-Law; Of Counsel, Nishimura & Asahi (current) Jun 2023 Audit & Supervisory Board Member, the Company (current)
1960-01-07
Large Shareholding Reports
Nomura Asset Management Co., Ltd.
2026-03-19
4.89%
BlackRock Fund Advisors
2025-10-03
1.93%→1.95%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-09-19
3.33%→3.25%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-15
中期経営計画
EDINET
2026-03-19
Large Shareholding Report
TDnet
2026-02-04
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-10-03
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-04-10
中期経営計画
TDnet
2025-02-05
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-31
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINETAmended
2023-11-21
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINETAmended
2023-07-13
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-06-27
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-24
Annual Securities Report
EDINET
2022-04-11
中期経営計画
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
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