Asahi Kasei Corporation
Head Office: 1-1-2 Yurakucho, Chiyoda-ku, Tokyo, Japan
Security code: 3407
Contact: Corporate Communications, Phone +81-3-6699-3008, Fax +81-3-6699-3187
May 9, 2024

Consolidated Results for Fiscal 2023:
April 1, 2023 – March 31, 2024

(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)
FY 2023

FY 20222,784,878 [+2.1%]

2,726,485 [+10.8%]

Operating income

140,746 [+10.2%]

127,716 [-37.0%]

Ordinary income
Net income attributable to owners of the parent

90,118 [-25.5%]

120,900 [-43.0%]

43,806 [－]31.60(91,948) [－](66.30)Net sales

Net income per share*
Diluted net income per share*――

Net income/shareholders’ equity

2.5%

-5.5%

Ordinary income/total assets

2.5%

3.6%

Operating income/net sales

5.1%

4.7%

* Yen

Notes:• Comprehensive income was ¥206,181 million during fiscal 2023, and ¥25,192 million during fiscal 2022.
• Equity in earnings of affiliates was ¥(38,106) million during fiscal 2023, and ¥923 million during fiscal 2022.
• Calculation of results for fiscal 2022, previously based on provisional accounting treatment related to businesscombinations, has been finalized.

2. Financial position
2024

2023

Total assets

3,662,730

3,453,900

Net assets

1,848,625

1,695,382

Net worth/total assets
Net worth per share*

49.5%
1,308.20

48.1%
1,197.85

At fiscal year end March* Yen

Notes:• Net worth consists of shareholders’ equity and accumulated other comprehensive income.
• Net worth was ¥1,813,391 million as of March 31, 2024, and ¥1,660,295 million as of March 31, 2023.
• Calculation of results as of March 31, 2023, previously based on provisional accounting treatment related tobusiness combinations, has been finalized.

Asahi Kasei
Consolidated Results

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May 9, 2024

3. Cash flows
FY 2023

FY 2022

Cash flows from operating activities

295,300

90,804

Cash flows from investing activities(142,598)(213,584)

Cash flows from financing activities(94,331)111,780

Cash and cash equivalents at end of period

333,498

247,903

II. Cash Dividends
Fiscal year

Cash dividends per share*

Total annual
dividend amount

Dividends/
consolidated net
incomeDividends/
consolidated
net worth

Q1

Q2

Q3

Q4

Total
annual

2022

—

18.00

—

18.00

36.00

49,962

—

3.0%

2023
2024
(forecast)

—

18.00

—

18.00

36.00

49,962113.9%

2.9%

—

18.00

—

18.00

36.00

49.9%
* Yen

III. Forecast for Fiscal 2024 (April 1, 2024 – March 31, 2025)(percent change from same period of previous year in brackets)
For Q1–Q2
1,428,000 [+6.1%]

For the fiscal year
2,912,000 [+4.6%]

Operating income

80,000 [+43.1%]

180,000 [+27.9%]

Ordinary income
Net income attributable to owners of the parent
Net income per share*

78,000 [+49.9%]
40,000 [+29.7%]
28.86

181,000 [+100.8%]
100,000 [+128.3%]
72.14

Net sales

* Yen
Note:
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.

IV. Other Information
1. Changes in significant subsidiaries which affected scope of consolidation during the period
Elimination of one subsidiary:
Asahi Kasei Spunbond (Thailand) Co., Ltd.
2. Changes in accounting policies, changes in accounting estimates, and retroactive restatement
None
3. Changes in presentation
Consolidated statements of income:
Foreign exchange loss and costs of idle facilities, which were reported separately under non-operating
expenses for the fiscal year ended March 31, 2023, are included in other under non-operating
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Consolidated Results

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May 9, 2024

expenses for the fiscal year ended March 31, 2024, due to decreased materiality. Consolidated
statements of income for the fiscal year ended March 31, 2023, are restated to reflect this change.
As a result, foreign exchange loss under non-operating expenses, previously reported to be ¥2,287
million, and costs of idle facilities, previously reported to be of ¥3,300 million, are included in other.
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

FY 2023
1,393,932,032
7,761,893
1,386,143,255

FY 2022
1,393,932,032
7,864,299
1,386,887,194

V. Summary of Non-Consolidated Results
1. Results for fiscal 2023 (April 1, 2023 – March 31, 2024)(1) Operating results (percent change from previous year in brackets)
FY 2023

FY 2022Net sales

681,508 [-4.5%]

713,961 [+9.4%]

Operating income(26,546) [－](11,073) [－]Ordinary income

192,641 [+394.7%]

38,942 [-52.5%]

Net income

170,162 [－](201,425) [－]122.76(145.24)――

Net income per share*
Diluted net income per share** Yen(2) Financial position
At fiscal year end March
Total assets
Net assets

2024
1,967,465
625,6102023
1,995,939
506,780

Net worth/total assets

31.8%

25.4%

Net worth per share*

451.32365.62* Yen
VI. Overview of Consolidated Results
1. Consolidated group results
Net sales reached ¥2,784.9 billion, an increase of ¥58.4 billion from a year ago, and operating
income reached ¥140.7 billion, an increase of ¥13.0 billion. Although Material had a greater
demand slowdown than anticipated, especially in China, and lower market prices, terms of trade
improved, while Homes and Health Care had firm performance. Ordinary income decreased by¥30.8 billion to ¥90.1 billion, with ¥38.1 billion recorded as equity in losses of affiliates. Net
income attributable to owners of the parent was ¥43.8 billion, recovering from net loss of theprevious year, with a lower impairment loss than a year ago, and decreased income tax expenses as
an effect of transfer of shares of Asahi Kasei Energy Storage Materials, Inc., although impairment
loss was recorded on assets such as equipment related to asset group for general-purpose
petrochemicals and resins.
Regarding non-consolidated results, net sales decreased by ¥32.5 billion to ¥681.5 billion,
there was an operating loss of ¥26.5 billion representing a ¥15.5 billion deterioration from theoperating loss of the previous year, ordinary income increased by ¥153.7 billion to ¥192.6 billion,
Asahi Kasei
Consolidated Results

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May 9, 2024

and net income was ¥170.2 billion representing a ¥371.6 billion increase from the net loss of theprevious year. The increase in ordinary income was largely due to dividends received fromconsolidated subsidiaries. Although impairment loss was recorded under extraordinary loss, net
income was gained through the receipt of dividends from subsidiaries, elimination of loss on
valuation of shares of subsidiaries and affiliates with respect to Asahi Kasei Energy Storage
Materials, Inc. (AKESM), and decreased income tax expenses as an effect of the transfer of sharesof AKESM during the fiscal year.
2. Results by operating segment
The Asahi Kasei Group’s operations are described by major business classification: three reportablesegments of Material, Homes, and Health Care, together with an “Others” category.
MATERIAL
Sales decreased by ¥54.9 billion from a year ago to ¥1,261.7 billion, and operating income
increased by ¥1.5 billion from a year ago to ¥42.6 billion.
In Environmental Solutions, although the basic materials business had decreased shipmentswith a general slowdown in demand related to petrochemicals especially in China and an impact
from inventory valuation due to lower market prices, operating income increased due to lower
amortization of goodwill and other intangible assets as an effect of the impairment loss on Polypore
in the previous fiscal year. In Mobility & Industrial, operating income increased with increased
shipments due to improvement from the effect of reduced vehicle production and increased
production capacity. In Life Innovation, although there was an impact from inventory valuation,
products for AI servers and high-end smartphones performed well.
HOMES
Sales increased by ¥55.4 billion from a year ago to ¥954.4 billion, and operating income increasedby ¥7.6 billion from a year ago to ¥83.0 billion.
In order-built homes, although unit prices rose with larger and higher value-added units andfixed costs were reduced, operating income decreased with increased costs for other materials and adecreased volume of building work. In real estate, operating income increased with rental
management operations expanding firmly and a large number of high-value sales of condominiums
in urban centers. In overseas operations, although profitability of the North American businessdeclined from the level of the previous fiscal year when high sales prices were maintained as
lumber prices decreased, operating income increased with the Australian business achieving
progress in passing on increased costs in contrast to the previous fiscal year when high material andlabor costs had a significant impact. Operating income in construction materials increased with
progress in passing on increased costs.
HEALTH CARE
Sales increased by ¥56.9 billion from a year ago to ¥553.8 billion, and operating income increasedby ¥6.6 billion from a year ago to ¥48.5 billion.
Although sales of mainstay products such as Envarsus XR were firm, operating income inhealth care decreased with nonrecurrence of the lump-sum licensing income recorded in theprevious fiscal year, increased SG&A expenses at Veloxis, and impact of consolidation of Bionova.
Operating income in critical care increased with improved insurance reimbursement
conditions for LifeVest, progress in passing on increased costs for defibrillators, and increased
shipments of AEDs with improvement from difficulty in parts procurement.
OTHERS
Sales increased by ¥0.9 billion from a year ago to ¥15.0 billion, and operating income decreased by¥1.1 billion from a year ago to ¥3.2 billion.

Asahi Kasei
Consolidated Results

4/16

May 9, 2024

VII. Consolidated Financial Statements
1. Balance sheets

AssetsCurrent assets
Cash and deposits
Notes, accounts receivable–trade, and contract assets
Merchandise and finished goods
Work in process
Raw materials and supplies
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
Long-term advance payments–trade
Net defined benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Subtotal
Total noncurrent assets
Total assets

Asahi Kasei
Consolidated Results

5/16

At end ofMarch 2023

At end ofMarch 2024

251,181442,692
310,380
162,255
169,918
154,335(2,567)
1,488,195

338,108
485,941
317,397
171,645
189,794
150,030(2,877)1,650,037

663,642(347,877)
315,765
1,611,495(1,313,694)
297,801
69,232
12,017(6,457)
5,560
120,299
188,994(125,950)
63,045
871,701

669,119(366,214)
302,906
1,621,333(1,351,326)
270,00772,75013,936(7,010)6,926
132,051
211,763(143,113)
68,650853,289

348,561
387,597
736,158

360,676
394,052
754,728

212,6118,466
28,267
25,83645,91637,248(498)
357,846
1,965,705
3,453,900

188,288
17,19826,692
41,87684,557
46,638(574)
404,676
2,012,693
3,662,730

May 9, 2024

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 grant of shares
Provision for periodic repairs
Provision for product warranties
Provision for removal cost of property, plant and equipment
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for grant of shares
Provision for periodic repairs
Provision for removal cost of property, plant and equipment
Net defined benefit liability
Long-term guarantee deposits
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total 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

6/16

At end ofMarch 2023

At end ofMarch 2024

180,560
196,032
124,000
40,0006,766
147,163
17,491
72,948
80
8,410
4,240
3,788
110,683
912,163

213,252
178,091
83,00030,000
7,815
151,577
17,82788,415
70
4,805
4,369
6,511
128,838
914,572

170,000
409,424
28,526
27,767339
4,309
15,910128,708
22,70338,671
846,355
1,758,517

200,000
425,926
30,72920,184545
7,924
15,843
133,434
23,29541,654
899,534
1,814,106

103,389
79,841
1,141,690(7,426)
1,317,493

103,389
80,272
1,135,533(7,316)
1,311,878

52,31072
265,022
25,397
342,80235,087
1,695,382
3,453,900

51,269(14)417,391
32,867
501,513
35,234
1,848,625
3,662,730

May 9, 2024

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
Other
Total non-operating income
Non-operating expenses
Interest expense
Equity in losses of affiliates
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of investment securities
Gain on sales of noncurrent assets
Insurance income
Gain on business transfer
Settlement income
Total extraordinary income
Extraordinary loss
Loss on valuation of investment securities
Loss on disposal of noncurrent assets
Impairment loss
Loss on fire at plant facilities
Business structure improvement expenses
Total extraordinary loss
Income (loss) before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Net income (loss)
Net income attributable to non-controlling interests
Net income (loss) attributable to owners of the parent

Asahi Kasei
Consolidated Results

7/16

FY 20222,726,485
1,952,709
773,776
646,060
127,716

FY 2023
2,784,878
1,968,909
815,969
675,223
140,746

3,896
4,021
923
5,210
14,050

7,684
3,504
―
6,504
17,693

5,907―
14,95920,867
120,900

7,448
38,106
22,766
68,32090,11832,201
729
8,814
―
―
41,74427,088527
15,346
2,986
6,163
52,1102,805
12,517
189,446
7,092
13,326225,186(62,541)
56,118(28,654)
27,464(90,005)
1,942(91,948)

1,773
8,044
92,834―
10,733
113,385
28,84331,984(49,469)(17,484)
46,3282,522
43,806

May 9, 2024

(2) Statements of comprehensive income
Net income (loss)
Other comprehensive income
Net increase (decrease) in unrealized gain on other securities
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

8/16

FY 2022(90,005)

FY 2023
46,328(13,706)414
95,35230,593(1,184)(86)
151,830
7,369

2,544

1,925

115,197
25,192

159,854
206,181

22,825
2,367

202,517
3,665

May 9, 2024

3. Statements of changes in net assets
Shareholders' equity
Capital stock
Balance at beginning of fiscal year
Balance at end of fiscal year
Capital surplus
Balance at beginning of fiscal year
Changes during the fiscal year
Disposal of treasury stock
Capital increase of consolidated subsidiaries
Total changes of items during the period
Balance at end of fiscal year
Retained earnings
Balance at beginning of fiscal year
Changes during the fiscal year
Dividends from surplus
Net income (loss) attributable to owners of the parent
Change of scope of consolidation
Change of scope of equity method
Total changes of items during the period
Balance at end of fiscal year
Treasury stock
Balance at beginning of fiscal year
Changes during the fiscal year
Purchase of treasury stock
Disposal of treasury stock
Total changes of items during the period
Balance at end of fiscal year
Total shareholders’ equity
Balance at beginning of fiscal year
Changes during the fiscal year
Dividends from surplus
Net income (loss) attributable to owners of the parent
Purchase of treasury stock
Disposal of treasury stock
Change of scope of consolidation
Change of scope of equity method
Capital increase of consolidated subsidiaries
Total changes of items during the period
Balance at end of fiscal year

Asahi Kasei
Consolidated Results

9/16

FY 2022

FY 2023

103,389
103,389

103,389
103,389

79,887

79,8410(46)(46)
79,8410431
431
80,272

1,282,325

1,141,690(48,575)(91,948)(139)
25(140,636)
1,141,690(49,962)
43,806――(6,157)
1,135,533(6,219)(7,426)(1,414)208(1,207)(7,426)

(12)
122
110
(7,316)

1,459,381

1,317,493(48,575)(91,948)(1,414)
208
(139)
25
(46)
(141,888)
1,317,493(49,962)
43,806
(12)
122
―
―
431
(5,615)
1,311,878

May 9, 2024

Accumulated other comprehensive income
Net unrealized gain on other securities
Balance at beginning of fiscal year
Changes during the fiscal year
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of fiscal year
Deferred gains or losses on hedges
Balance at beginning of fiscal year
Changes during the fiscal year
Net changes of items otherthan shareholders' equity
Total changes of items during the period
Balance at end of fiscal year
Foreign currency translation adjustment
Balance at beginning of fiscal year
Changes during the fiscal year
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of fiscal year
Remeasurements of defined benefit plans
Balance at beginning of fiscal year
Changes during the fiscal year
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of fiscal year
Total accumulated other comprehensive income
Balance at beginning of fiscal year
Changes during the fiscal year
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of fiscal year
Non-controlling interests
Balance at beginning of fiscal year
Changes during the fiscal year
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of fiscal year
Total net assets
Balance at beginning of fiscal year
Changes during the fiscal year
Dividends from surplus
Net income (loss) attributable to owners of the parent
Purchase of treasury stock
Disposal of treasury stock
Change of scope of consolidation
Change of scope of equity method
Capital increase of consolidated subsidiaries
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of fiscal year

Asahi Kasei
Consolidated Results

10/16

FY 2022

FY 2023

66,28752,310(13,977)(13,977)
52,310(1,042)(1,042)
51,269

(341)

72

414
414
72

(86)
(86)
(14)

167,225

265,022

97,79897,798265,022

152,369
152,369
417,391(5,142)25,39730,53830,53825,3977,470
7,470
32,867228,029

342,802

114,773
114,773
342,802

158,711
158,711501,513

31,40535,0873,682
3,682
35,087146
146
35,234

1,718,815

1,695,382(48,575)(91,948)(1,414)
208
(139)
25
(46)
118,455(23,433)
1,695,382(49,962)
43,806
(12)
122
―
―
431
158,858
153,242
1,848,625

May 9, 2024

4. Statements of cash flows
Cash flows from operating activities
Income (loss) before income taxes
Depreciation and amortization
Impairment loss
Amortization of goodwill
Increase (decrease) in provision for grant of shares
Increase (decrease) in provision for periodic repairs
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for removal cost of property,
plant and equipment
Increase (decrease) in net defined benefit liability
Interest and dividend income
Interest expense
Equity in (earnings) losses of affiliates(Gain) loss on sales of investment securities(Gain) loss on valuation of investment securities(Gain) loss on sale of property, plant and equipment(Gain) loss on disposal of noncurrent assets(Gain) loss on business transfer(Increase) decrease in notes, accounts receivable–trade, andcontract assets(Increase) decrease in inventories
Increase (decrease) in notes and accounts payable–trade
Increase (decrease) in accrued expenses
Increase (decrease) in advances received
Other, net
SubtotalInterest and dividend income, received
Interest expense paid
Income taxes (paid) refund
Net cash provided by (used in) 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
Purchase of shares in subsidiaries resulting in change in scope of
consolidation
Proceeds from business transfer
Payments of loans receivableCollection of loans receivable
Other, net
Net cash provided by (used in) investing activities

Asahi Kasei
Consolidated Results

11/16

FY 2022

FY 2023(62,541)
140,013
189,446
37,273
(279)
2,585
198

28,843
152,593
92,83429,603
196
11
(9)

2,951

2,649

(5,838)(7,917)
5,907(923)(32,201)
2,805
(729)
12,517―

2,348(11,189)
7,448
38,106(27,088)
1,773
(527)
8,044
(2,986)

8,405(19,087)(84,053)(7,949)(5,167)8,040(8,982)
193,563
13,666(5,859)(110,565)
90,804(16,303)
18,630(2,416)
14,9793,907
322,360
14,816(7,042)(34,834)
295,300(5,209)3,702(151,973)
7,796(20,185)(7,352)
43,200(4,218)3,115(147,705)
1,183(24,249)(10,576)
37,559(78,420)――(6,661)
2,132(613)(213,584)

7,320(13,887)
8,144
715(142,598)

May 9, 2024

Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Increase (decrease) in commercial paper
Proceeds from long-term loans payable
Repayment of long-term loans payable
Proceeds from issurance of bonds payable
Redemption of bonds
Repayments of lease obligations
Purchase of treasury stock
Proceeds from disposal of treasury stock
Cash dividends paid
Proceeds from share issuance to non-controlling interests
Cash dividends paid to non-controlling interests
Purchase of shares in subsidiaries not resulting in change in scopeof consolidation
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase (decrease) in cash and cash equivalents resulting from changes inscope of consolidation

FY 2022

FY 2023(29,778)
11,000209,648(75,461)
50,000―(3,665)(1,415)208(48,575)
1,499(1,371)(23,674)(41,000)
65,500(54,499)
60,000(40,000)(9,274)(12)
122(49,962)―(1,132)

(163)

(166)

(149)
111,780
15,744
4,744
242,948(233)(94,331)
29,662
88,034
247,903212――(2,439)247,903

333,498

Derease in cash and cash equivalents resulting from corporate division
Cash and cash equivalents at end of period

VIII. Business combinations
1) Transfer of photomask pellicles business1. Outline of business separation(1) Name of company separated to
Mitsui Chemicals, Inc.
(2) Nature of separated business
Operations related to manufacture, development, and sale of pellicles(3) Main reasons for the separation
As a result of successive discussions between Asahi Kasei and Mitsui Chemicals on the future
prospects for both companies’ pellicles business, from the perspectives of swift decision-making
and business strengthening, the conclusion was reached that it would be best to transfer thebusiness to Mitsui Chemicals and operate the FPD pellicles and LSI pellicles business as part of therobust structure of Mitsui Chemicals.
(4) Date of business separation
July 1, 2023 (effective date of the separation and date of business transfer)(5) Outline of transaction including legal form
Absorption-type separation with Asahi Kasei as the separating company and Mitsui Chemicals as
the succeeding company with consideration only in assets such as cash. Also, business transfer ofoperations of Asahi Kasei EMD Taiwan Corp. and Asahi Kasei E-materials Korea Inc. withconsideration only in assets such as cash.

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May 9, 2024

2. Outline of accounting treatment(1) Amount of gain on transfer
Gain on business transfer¥2,986 million(2) Appropriate book value of assets and liabilities related to transferred businessCurrent assets
Noncurrent assets
Total assets
Current liabilities
Noncurrent liabilities
Total liabilities¥3,333 million¥1,509 million¥4,842 million¥384 million¥124 million¥508 million(3) Accounting treatment
The difference between the consideration received for the transfer and the amount equivalent toshareholders equity related to the transfer is recognized as a gain on business transfer.
3. Reportable segment which the separated business was included inMaterial
4. Approximate profit or loss related to the separated business recorded in consolidated statements ofincome for the fiscal year ended March 31, 2024
Information is omitted due to immateriality.
2) Finalization of provisional accounting treatment for business combination
At the close of the fiscal year ended March 31, 2023, provisional accounting treatment was applied to thebusiness combination with Focus Plumbing LLC, Focus Framing, Door & Trim LLC, Focus Electric LLC,
Focus Concrete, LLC, and Focus Fire Protection LLC, which was performed on October 31, 2022 (U.S.
Eastern time). The accounting treatment was finalized during the fiscal year ended March 31, 2024.
Due to a review of purchase price allocation, the amount of customer-related assets has been changed
to ¥17,082 million, trademarks to ¥2,595 million, and order backlog to ¥2,469 million, respectively. As aresult, goodwill has been changed from the provisional amount of ¥34,952 million to ¥12,806 million, adecrease of ¥22,146 million. Amortization periods are 20 years for goodwill (straight-line method), 13
years for customer-related assets, 19 years for trademarks, and 2 years for order backlog.
In the consolidated balance sheets for the fiscal year ended March 31, 2023, other under intangible
assets increased by ¥18,902 million and foreign currency translation adjustment increased by ¥9 million,
while goodwill decreased by ¥19,529 million and retained earnings decreased by ¥636 million. In thestatements of income for the fiscal year ended on March 31, 2023, operating income and ordinary income
decreased by ¥636 million, while loss before income taxes, net loss, and net loss attributable to owners of
the parent each increased by ¥636 million.

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Consolidated Results

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May 9, 2024

IX. Segment Information
1. Reporting segments

Homes3

HealthCare

Total 3

Material

Subtotal 3

Reporting segments

Others 1(1) Fiscal 2022

Customers

1,316,615

898,971496,881 2,712,466Intersegment

10,7398,291

1,327,354

907,262496,914 2,731,530

58,906 2,790,436

41,01675,38341,8604,250

1,751,117

672,631954,538 3,378,285

72,07817,22843,397

132,703775

133,479

Amortization of goodwill

15,384778

21,111

37,273－37,273

Investments in associates
accounted for using
equity method

66,560

5,242

2,502

74,30522,55396,858

Increase in property, plantand equipment, andintangible assets

106,494

25,685

25,106

157,285645

157,930

Sales

Total
Operating income
Assets33

19,063
158,260

14,019 2,726,485
44,88863,951
162,510102,287 3,480,571

Other items
Depreciation andamortization2

1 Plant and environmental engineering, research and analysis, employment agency/staffing operations, etc.
2 Excluding amortization of goodwill.

3 Figures revised to reflect finalization of provisional accounting treatment as described in “Business combinations”

above.

(2) Fiscal 2023
Homes

HealthCare

Others

Total

Customers

1,261,729

954,405

553,786

2,769,920

14,9582,784,878

Intersegment

12,3139,621

421,93841,132

63,0701,274,042

964,026

553,790

2,791,858

56,0902,847,948

42,561

82,95348,494

174,007

3,161

177,168

1,759,867

609,350

1,054,103

3,423,320

128,076

3,551,395

72,02020,07947,203

139,302926

140,228

5,316

1,295

22,992

29,603－29,603

46,983

4,932

1,290

53,20623,34476,550111,464

25,78632,186

169,436

1,113

170,550

Subtotal

Material

1

Reporting segments

Sales

Total
Operating income
AssetsOther items
Depreciation andamortization2
Amortization of goodwill
Investments in associates
accounted for using
equity method
Increase in property, plantand equipment, andintangible assets

1 Plant and environmental engineering, research and analysis, employment agency/staffing operations, etc.
2 Excluding amortization of goodwill.

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Consolidated Results

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May 9, 2024

2. Differences between total amounts of reporting segments and recorded amounts on consolidated
financial statements
Sales
Total of reporting segments
Net sales in “Others” category
Elimination of intersegment transactions
Net sales on consolidated statements of income

Fiscal 2022
2,731,530
58,906(63,951)
2,726,485

Fiscal 2023
2,791,858
56,090(63,070)
2,784,878

Operating income

Fiscal 2022
158,260
4,250
301(35,095)

Fiscal 2023
174,007
3,161(21)(36,401)

Fiscal 2022

Fiscal 2023

2

Total of reporting segments
Operating income in “Others” category
Elimination of intersegment transactions

Corporate expenses, etc. 1
127,716
140,746
Operating income on consolidated statements of income2
1
Corporate expenses, etc. include corporate revenue, basic research expense, and group management expense, etc.
which are not allocated to reporting segments.
2
Figures revised to reflect finalization of provisional accounting treatment as described in “Businesscombinations” above.

Assets2

3,378,285
3,423,320
Total of reporting segments
Assets in “Others” category
102,287
128,076
Elimination of intersegment transactions(519,877)(417,696)
493,205
529,031
Corporate assets1
2
3,453,900
3,662,730
Total assets on consolidated balance sheets
1
Corporate assets include assets of Asahi Kasei Corp.—surplus operating funds (cash and deposits), long-term
investment capital (investment securities, etc.), and land, etc.
2
Figures revised to reflect finalization of provisional accounting treatment as described in “Businesscombinations” above.

X. Geographic information
1. Fiscal 2022
(1) Net salesJapan
1,347,958

United States
455,712

China
241,960

Other regions
680,855

United States
156,637

Other regions
119,551

Total
871,701

United States
516,793

China
249,401

Other regions
702,856

Total
2,726,485(2) Property, plant and equipment
Japan595,513

2. Fiscal 2023
(1) Net salesJapan
1,315,828

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Consolidated Results

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Total
2,784,878

May 9, 2024

(2) Property, plant and equipment
Japan564,017

United States
164,954

Other regions
124,318

Total
853,289

XI. Important Subsequent Events
Significant capital investment
1. Main reason for the investment
At the Board of Directors Meeting held on April 24, 2024, a decision was made to construct anintegrated plant in Ontario, Canada for the base film manufacturing and coating of Hipore™ wet-process
lithium-ion battery (LIB) separator.
Asahi Kasei positions Energy Storage as one of the “10 Growth Gears” (GG10) businesses expected todrive future growth in its medium-term management plan for fiscal 2024, focused on the theme “Be a
Trailblazer.” The core of the Energy Storage business is Hipore™ wet-process LIB separator, which
has been leading technological innovation based on over 40 years of business history, and is currently
expanding its sales in automotive applications in addition to consumer electronics applications.
To meet increasing North American demand for battery separator for electric vehicles as an effect of
the Inflation Reduction Act (IRA) in the U.S. and other governmental clean energy policies, and to join
North American LIB supply chains being established, the decision was made to construct a
manufacturing plant in Ontario, Canada.
2. Overview of the capital investment(1) Location: Ontario, Canada(2) Plant overview: Integrated plant for the base film manufacturing and coating of Hipore™ lithium-ion
battery separator(3) Amount of investment: Approximately ¥180 billion(4) Production capacity: Approximately 700 million m2 per year (as coated film)(5) Start of operation: Commercial start-up scheduled in 2027
3. Material impact of the capital investment on sales and production activities
The impact of this capital investment on consolidated results for the year ending March 31, 2025, isimmaterial.

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Consolidated Results

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May 9, 2024