Asahi Kasei Corporation
Head Office: 1-105 Kanda Jinbocho, Chiyoda-ku, Tokyo, Japan
Security code: 3407
Contact: Corporate Communications, Phone +81-3-3296-3008, Fax +81-3-3296-3162
February 7, 2018

Consolidated Results for 1st to 3rd Quarter Fiscal 2017:
April 1, 2017 – December 31, 2017
(All figures in millions of yen, rounded to the nearest million, unless otherwise specified)

I. Summary of Consolidated Results
1. Operating results (percent change from previous year in brackets)
Net sales
Operating income
Ordinary income
Net income attributable to owners of the parent
Net income per share*
Diluted net income per share*

Q1–Q3 2017
1,484,549 [+9.4%]
149,189 [+30.7%]
160,546 [+35.6%]
140,328 [+56.5%]
100.49—Q1–Q3 2016
1,356,844 [−6.3%]
114,134 [−9.9%]
118,391 [−5.0%]
89,654 [+25.0%]
64.19
—

* Yen
Note:
Comprehensive income was ¥190,791 million during Q1–Q3 2017, and ¥122,584 million during Q1–Q3 2016.

2. Financial position
At end ofTotal assets
Net assets
Net worth/total assets
Net worth per share*

December 2017
2,422,516
1,318,632
53.7%
931.58March 2017
2,254,500
1,168,115
51.1%
824.36* Yen
Notes:
 Net worth consists of shareholders’ equity and accumulated other comprehensive income.
 Net worth as of December 31, 2017, was ¥1,300,602 million; as of March 31, 2017, ¥1,151,344 million.

II. Cash Dividends
Fiscal year
2016
2017
2017 (forecast)

Q1——

Cash dividends per share*
Q2
Q3
Q4
10.00
—
14.00
14.00
—
14.00

Total annual
24.00
28.00
* Yen

Asahi Kasei
Consolidated Results

February 7, 2018
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III. Forecast for Fiscal 2017 (April 1, 2017 – March 31, 2018)
1. Latest forecast (percent change from results in year-ago period in brackets)
Net sales
Operating income
Ordinary income
Net income attributable to owners of the parent
Net income per share*

For the fiscal year
2,050,000 [+8.9%]
195,000 [+22.5%]
208,000 [+29.5%]
169,000 [+47.0%]
121.03* Yen
Notes:
 Performance forecasts are based on the best information available at this time, but actual results may diverge
from these forecasts due to a variety of factors which cannot be foreseen.
 The forecast for fiscal 2017 announced on November 7, 2017, has been revised.

IV. Other Information
1. Changes in significant subsidiaries which affected scope of consolidation during the period: None
2. Special accounting methods for preparation of the consolidated financial statements
Income tax expenses: A reasonable estimate of the effective tax rate after applying tax-effectaccounting for the current fiscal year is made, and quarterly income before income taxes is multipliedby the corresponding effective tax rate.
3. Changes in accounting policies, changes in accounting estimates, and retroactive restatement:

None

4. Number of shares outstanding

Number of shares outstanding at end of period
Number of shares of treasury stock at end of period
Average number of shares outstanding during period

Q1–Q3 2017
1,402,616,332
6,487,788
1,396,387,353

FY 2016
1,402,616,332
5,958,904
1,396,730,402** Q1–Q3 2016

Asahi Kasei
Consolidated Results

February 7, 2018
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V. Consolidated Financial Statements
1. Balance sheets

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable–trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Land
Lease assets
Accumulated depreciation
Lease assets, net
Construction in progress
Other
Accumulated depreciation
Other, net
Subtotal
Intangible assets
Goodwill
Other
Subtotal
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Subtotal
Total noncurrent assets
Total assets

Asahi Kasei
Consolidated Results

At end ofMarch 2017

At end ofDecember 2017

145,289
302,751
159,395
116,481
70,806
20,27981,816(2,272)894,545

192,616
334,867
166,279
139,10379,127
21,03287,858(2,361)
1,018,521

508,713(278,122)
230,590
1,376,029(1,176,686)
199,343
62,391
12,367(11,381)986
45,958150,073(132,460)
17,613556,881522,353(286,360)
235,993
1,410,274(1,205,194)
205,080
62,911
11,978(11,084)894
42,838
153,482(135,349)
18,133565,848285,622
177,149
462,772

274,040
170,809444,849

284,137
18,9189,309
28,154(215)
340,3021,359,955
2,254,500

330,561
27,967
6,280
28,704(214)393,299
1,403,996
2,422,516

February 7, 2018
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Liabilities
Current liabilities
Notes and accounts payable–trade
Short-term loans payable
Commercial paper
Current portion of bonds payable
Lease obligations
Accrued expenses
Income taxes payable
Advances received
Provision for periodic repairs
Provision for product warranties
Provision for removal cost of property, plant andequipment
Asset retirement obligations
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for periodic repairs
Provision for removal cost of property, plant andequipment
Provision for loss on litigation
Net defined benefit liability
Asset retirement obligations
Long-term guarantee deposits
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stockTotal shareholders’ equity
Accumulated other comprehensive income
Net unrealized gain on other securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

Asahi Kasei
Consolidated Results

At end ofMarch 2017

At end ofDecember 2017

147,543
113,475
56,00020,000305
100,419
16,202
72,8825,003
2,461

172,522
113,119
86,000—185
89,475
20,27285,065
2,111
2,704

1,800

824572
58,217594,880524
62,399635,200

20,000
192,584467
59,759165

20,000182,619422
46,946
2,527

4,390

3,367

2,162
178,368
3,436
20,4799,695
491,506
1,086,385—
175,750
3,799
20,824
12,429468,684
1,103,884

103,389
79,443
850,532(3,242)
1,030,122

103,389
79,440952,039(3,924)
1,130,944

113,475
55
40,831(33,140)
121,222
16,771
1,168,115
2,254,500

134,16318
62,800(27,323)
169,658
18,031
1,318,632
2,422,516

February 7, 2018
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2. Statements of income and statements of comprehensive income
1) Statements of income

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Equity in earnings of affiliates
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expense
Foreign exchange loss
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of investment securities
Gain on sales of noncurrent assets
Total extraordinary income
Extraordinary loss
Loss on valuation of investment securities
Loss on disposal of noncurrent assets
Impairment loss
Business structure improvement expenses
Business integration expense
Total extraordinary loss
Income before income taxes
Total income taxes
Net income
Net income attributable to non-controlling interests
Net income attributable to owners of the parent

Asahi Kasei
Consolidated Results

Q1–Q3 2016
1,356,844
928,669
428,175
314,041
114,134

Q1–Q3 2017
1,484,549
1,002,514
482,035
332,847
149,189

1,012
4,053
2,603
303
2,694
10,664

1,497
5,573
9,118
—
3,649
19,837

3,287
—
3,121
6,408
118,391

3,399
1,527
3,553
8,480
160,546

9,865
63
9,928

15,087530
15,617

45
2,295
53
3,818
681
6,892
121,426
30,446
90,9801,326
89,654

5
2,864
854
1,062
—
4,785
171,378
29,482
141,896
1,569
140,328

February 7, 2018
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2) Statements of comprehensive income

Net income
Other comprehensive income
Net increase (decrease) in unrealized gain on othersecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share of other comprehensive income of affiliates
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:
Owners of the parent
Non-controlling interests

Asahi Kasei
Consolidated Results

Q1–Q3 2016
90,980Q1–Q3 2017
141,896

16,567

20,645

187
8,229
6,304

(37)
20,879
5,879

317

1,529

31,604
122,584

48,895
190,791

121,061
1,523

188,7412,050

February 7, 2018
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3. Statements of cash flows

Cash flows from operating activities
Income before income taxes
Depreciation and amortization
Impairment loss
Amortization of goodwill
Amortization of negative goodwill
Decrease in provision for periodic repairs
Increase in provision for product warranties
Decrease in provision for removal cost of property, plant andequipment
Decrease in provision for loss on litigation
Decrease in net defined benefit liability
Interest and dividend income
Interest expense
Equity in earnings of affiliates
Gain on sales of investment securities
Loss on valuation of investment securities
Gain on sale of property, plant and equipment
Loss on disposal of noncurrent assets
Increase in notes and accounts receivable–trade
Increase in inventoriesIncrease in notes and accounts payable–trade
Decrease in accrued expenses
Increase in advances received
Other, net
SubtotalInterest and dividend income, received
Interest expense paid
Income taxes paid
Net cash provided by operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sales of investment securities
Payments of loans receivableCollection of loans receivable
Other, net
Net cash used in investing activities

Asahi Kasei
Consolidated Results

Q1–Q3 2016

Q1–Q3 2017

121,426
66,802
53
13,113
(119)
(168)
61

171,378
70,426854
13,636
(119)
(529)
242

(2,701)(1,999)—(5,211)(5,065)3,287(2,603)(9,865)45(63)
2,295(25,784)(22,189)
36,082(14,333)
9,903(1,038)
163,930
6,537(2,697)(44,104)
123,666(2,153)(2,804)(7,070)3,399(9,118)(15,087)5(530)
2,864(27,060)(33,593)
20,186(12,095)
12,131
11,284
194,249
8,757(2,970)(45,993)
154,043(3,492)
4,574(59,181)
2,572(6,876)(8,022)
11,687(5,054)
1,815(1,134)(63,110)(2,247)
2,246(58,958)
1,696(9,601)(9,989)16,656(40,540)
31,773(97)(69,061)

February 7, 2018
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Cash flows from financing activities
Net decrease in short-term loans payable
Increase in commercial paper
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Repayments of lease obligationsPurchase of treasury stock
Proceeds from disposal of treasury stock
Cash dividends paid
Cash dividends paid to non-controlling interests
Other, netNet cash used in financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting from changes inscope of consolidation
Cash and cash equivalents at end of period

Asahi Kasei
Consolidated Results

Q1–Q3 2016

Q1–Q3 2017

(181,107)
91,000127,251(21,204)—(798)(65)
1(27,935)(696)
109(13,444)(5,101)42,011
145,307(14,643)
30,00015,295(12,316)(20,000)
(279)
(683)
1(39,106)(1,456)69(43,117)
5,123
46,987144,077443

272

187,761

191,336

February 7, 20188/8