Asahi Kasei Corporation
Head Office: 3-3-23 Nakanoshima, Kita-ku, Osaka, JapanTokyo 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
November 2, 2010

Consolidated Results for 1st and 2nd Quarters Fiscal 2010:
April 1, 2010 – September 30, 2010
(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)
Q1–Q2 2010
764,794 [+16.1%]
63,521 [+253.6%]
59,586 [+295.2%]
28,464 [+571.0%]
20.36—

Net sales
Operating income
Ordinary income
Net income
Net income per share*
Diluted net income per share*

Q1–Q2 2009
658,648 [−21.9%]
17,964 [−55.2%]
15,077 [−62.9%]
4,242 [−81.9%]
3.03
—
* Yen

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

September 2010
1,397,642
653,03345.9%
458.29March 2010
1,368,892
644,68846.3%
452.91* Yen

Notes:• Net worth consists of shareholders’ equity and valuation and translation adjustments.
• Net worth as of September 30, 2010, was ¥640,852 million; as of March 31, 2010,¥633,343 million.
II. Cash Dividends
Fiscal year
2009
2010
2010 (forecast)
Note:

Q1
—
—

Cash dividends per share*
Q2
Q3
Q4
Total annual
5.00
—
5.00
10.00
5.00
—
5.00
10.00
* Yen

No revision of cash dividend forecast during the period.

Asahi Kasei
Consolidated Results

November 2, 2010
1/12

III. Forecasts for Fiscal 2010 (April 1, 2010 – March 31, 2011)
1. Latest forecast (percent change from results in year-ago period in brackets)
Net sales
Operating income
Ordinary income
Net income
Net income per share*

1,608,000 [+12.2%]
115,000 [+99.6%]
110,500 [+96.0%]
58,500 [+131.3%]
41.84
* Yen

2. Comparison of previous and revised fiscal 2010 forecasts

Net sales
Operating income
Ordinary income
Net income

Previous
forecast
1,677.0
80.0
77.5
42.5

Revisedforecast
1,608.0
115.0
110.5
58.5

Increase(decrease)(69.0)
35.0
33.0
16.0

(billions of yen)cf. fiscal
2009 results
1,433.6
57.6
56.4
25.3

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 whichcannot be foreseen.
• The forecast for fiscal 2010 announced on May 10, 2010, has been revised.
IV. Other Information
1. Changes in significant subsidiaries:

None.

2. Simplified accounting methods and special accounting methods
1) Simplified accounting methods
Method of calculating allowance for doubtful accounts: Because the rate of
unrecoverable receivables as of September 30, 2010, was not significantly different
than that estimated at the end of the previous fiscal year, the rate of
unrecoverable receivables as of the end of the previous fiscal year was used as abasis for estimating allowance for doubtful accounts.
Valuation of inventories: No physical inventory as of September 30, 2010, wasperformed. Rather, the value of inventories is calculated using a reasonable
method based on the physical inventory performed at the end of the previous fiscal
year. The carrying amount of inventories is reduced to the estimated net saleprice only where a decrease in profitability is apparent.
Method of calculating depreciation of noncurrent assets: For assets depreciatedusing the declining-balance method, depreciation expenses for the fiscal year are
calculated in proportion to the fiscal period.
Method of calculating deferred tax assets and liabilities: When there is no
significant change in the operating environment or in the occurrence of temporary
differences after the end of the previous fiscal year, collectibility of deferred tax
Asahi Kasei
Consolidated Results

November 2, 20102/12

assets is calculated based on the performance forecasts and tax planning used in
the previous fiscal year. However, when there is significant change in theoperating environment or in the occurrence of temporary differences after the endof the previous fiscal year, collectibility of deferred tax assets is calculated basedon the performance forecasts and tax planning used in the previous fiscal year
together with the effect of such significant change.
2) Special accounting methods
Income tax expenses: A reasonable estimate of the effective tax rate after
applying tax-effect accounting for the current fiscal year is made, and quarterly
income before income taxes is multiplied by the corresponding effective tax rate.
The amount shown as “income taxes” includes both “income taxes – current” and“income taxes – deferred.”
3. Changes in accounting principles/procedures, changes in methods of presentation
1) Application of Accounting Standard for Equity Method of Accounting forInvestments and Practical Solution on Unification of Accounting Policies Applied
to Associates Accounted for Using the Equity Method
Accounting Standard for Equity Method of Accounting for Investments (ASBJ
Statement No. 16) and Practical Solution on Unification of Accounting Policies
Applied to Associates Accounted for Using the Equity Method (PITF No. 24) havebeen applied beginning from the quarter ended June 30, 2010. This change had
no effect on the consolidated quarterly financial statements.
2) Application of Accounting Standard for Asset Retirement Obligations
Accounting Standard for Asset Retirement Obligations (ASBJ Statement No. 18)
and Guidance on Accounting Standard for Asset Retirement Obligations (ASBJ
Guidance No. 21) have been applied beginning from the quarter ended June 30,
2010. As a result, income before income taxes was ¥1,333 million lower than it
would have been if the previous method had been used. The impact on operating
income and ordinary income was immaterial. The change in asset retirement
obligations due to the start of application of this accounting standard, etc., was¥4,038 million.
3) Application of Accounting Standard for Business Combinations and related
matters
Accounting Standard for Business Combinations (ASBJ Statement No. 21),
Accounting Standard for Consolidated Financial Statements (ASBJ Statement No.
22), Partial Amendments to Accounting Standard for Research and Development
Costs (ASBJ Statement No. 23), Revised Accounting Standard for Business
Divestitures (ASBJ Statement No. 7), Revised Accounting Standard for Equity
Method of Accounting for Investments (ASBJ Statement No. 16), and Revised
Guidance on Accounting Standard for Business Combinations and AccountingStandard for Business Divestitures (ASBJ Guidance No. 10) have been applied
beginning from the quarter ended June 30, 2010. With the application of
Accounting Standard for Consolidated Financial Statements (ASBJ Statement No.
22), the evaluation method for assets and liabilities of consolidated subsidiaries
changed from the partial fair value evaluation method to the full fair value
evaluation method. The impact of this change on the consolidated financial
statements was immaterial.
Asahi Kasei
Consolidated Results

November 2, 2010
3/12

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–Q2 2010
1,402,616,332
4,270,839
1,398,361,882

FY 2009
1,402,616,332
4,228,468
1,398,501,222** Q1–Q2 2009

V. Overview of Consolidated Results
1. Consolidated group results
The global economy was marked by instability during the April–September period.
Although economies in the Asian region showed strength with expanding domestic
demand, particularly in China, broadening credit insecurity in Europe led to concernsof an economic slowdown.
Although there were signs of recovery, including solid exports to the Asian
region, the outlook for the Japanese economy was once again obscure with corporate
investment and consumer spending remaining sluggish as an effect of the surging
value of the yen and diminished stock market prices.
Consolidated results of Asahi Kasei Corp. and its consolidated subsidiaries andequity-method affiliates (the Asahi Kasei Group) reflected substantially greater
performance buoyed by higher market prices and increased overseas demand in theChemicals segment as well as favorable performance in the Homes and Electronics
segments. Net sales were ¥764.8 billion, an increase of ¥106.1 billion (16.1%) from ayear ago. Operating income increased by ¥45.6 (253.6%) billion from a year ago to¥63.5 billion. Ordinary income increased by ¥44.5 billion (295.2%) from a year ago
to ¥59.6 billion. Net income increased by ¥24.2 billion (571.0%) to ¥28.5 billion.
2. Results by operating segment
Beginning from the quarter ended June 30, 2010, Accounting Standard forDisclosures about Segments of an Enterprise and Related Information (ASBJ
Statement No. 17) and Guidance on Accounting Standard for Disclosures about
Segments of an Enterprise and Related Information (ASBJ Guidance No. 20) havebeen applied, resulting in six reporting segments: Chemicals, Homes, Health Care,
Fibers, Electronics, and Construction Materials.
In describing the state of the Asahi Kasei Group’s businesses by major businessclassification, businesses not included in the above six reporting segments are
categorized as “Others.” The “Others” category is equivalent to the previous Services,
Engineering and Others segment, including plant engineering and environmental
engineering, research and analysis, and employment agency/staffing operations.
The operating expenses of one consolidated subsidiary previously included in Services,
Engineering and Others have been included in “corporate expenses and eliminations”
beginning from the quarter ended June 30, 2010. The impact of this change isimmaterial.
CHEMICALS
Sales increased by ¥71.7 billion (24.4%) from a year ago to ¥365.0 billion andoperating income increased by ¥25.8 billion (224.9%) to ¥37.3 billion.
While chemicals and derivative products operations were impacted by a plantmaintenance turnaround, terms of trade improved as overseas market prices foracrylonitrile (AN) and adipic acid increased substantially. In polymer products
Asahi Kasei
Consolidated Results

November 2, 2010
4/12

operations, a recovery of demand in automotive and electronics applications led toincreased shipments, and plant operating rates improved. In specialty products
operations, sales of home-use products such as Saran Wrap™ increased.
HOMES
Sales increased by ¥15.8 billion (10.0%) from a year ago to ¥173.5 billion andoperating income increased by ¥6.0 billion (144.2%) to ¥10.1 billion. Orders fororder-built homes increased by ¥27.2 billion to ¥181.7 billion
Operating income from order-built and pre-built homes increased with a steadyrecovery in deliveries of both Hebel Haus™ unit homes and Hebel Maison™
apartment buildings and with reduced operating costs. Real estate and otherhousing-related operations recorded steady performance.
HEALTH CARE
Sales increased by ¥1.4 billion (2.5%) from a year ago to ¥57.8 billion and operating
income increased by ¥0.8 billion (22.8%) to ¥4.2 billion.
In pharmaceuticals operations, operating income from Recomodulin™
recombinant thrombomodulin increased substantially, and shipments of the Flivas™
agent for the treatment of benign prostatic hyperplasia increased although NHI pricerevisions had a negative impact on product prices. In devices-related operations,shipments of APS™ polysulfone-membrane artificial kidneys and therapeutic
apheresis devices increased, but performance in Planova™ virus removal filters was
sluggish and the strong yen had an impact on performance in each product category.
FIBERS
Sales increased by ¥5.9 billion (12.1%) from a year ago to ¥54.6 billion and operating
income increased by ¥5.2 billion to ¥2.3 billion.
Operations were impacted by the strong yen and high feedstock costs.
Shipments of Bemberg™ regenerated cellulose increased substantially both in Japanand overseas. Roica™ elastic polyurethane filament, Leona™ nylon 66 filament, andnonwovens including spunbond recorded favorable performance.
ELECTRONICS
Sales increased by ¥14.6 billion (21.4%) from a year ago to ¥83.2 billion and operating
income increased by ¥7.9 billion (278.2%) to ¥10.7 billion.
In electronic devices operations, shipments of LSIs for cell phones andsmartphones increased substantially. In electronic materials operations, shipmentsof Hipore™ Li-ion battery separator increased, and shipments of Sunfort™ dry film
photoresist and Pimel™ photosensitive polyimide precursor also increased with arecovery of overseas market conditions for semiconductors and electronic hardware.
CONSTRUCTION MATERIALS
Sales decreased by ¥1.2 billion (4.7%) from a year ago to ¥23.4 billion but operating
income increased by ¥0.5 billion (88.9%) to ¥1.1 billion.
Shipments of Hebel™ autoclaved aerated concrete (AAC) panels decreased
substantially, especially in non-housing applications, due to a downturn in new
construction starts. Shipments of Eazet™ and ATT Column™ small-scale piles
increased with development of demand in applications other than homes andbuildings. Shipments of Neoma™ high-performance foam insulation panels also
increased, supported by government policies for energy conservation. Significant
operating cost reductions were achieved.
OTHERS
Sales decreased by ¥2.2 billion (22.8%) from a year ago to ¥7.4 billion, and operating
income decreased by ¥0.3 billion (24.6%) to ¥0.8 billion.
Asahi Kasei
Consolidated Results

November 2, 20105/12

VI. Consolidated Balance Sheets

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable, trade
Short-term investment securities
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 of
Sept. 2010

At end ofMarch 2010

94,201
262,466366
130,901
89,29356,33324,14258,287(1,696)714,292

93,928238,931985
124,557
75,04451,484
23,10654,027(1,654)660,408

408,870(228,226)
180,643
1,183,121(1,025,723)
157,398
55,5437,461(2,390)5,071
21,551
117,222(102,471)
14,751
434,957

404,974(224,608)
180,366
1,169,979(1,005,094)
164,885
55,031
5,808(1,132)
4,676
27,380115,024(99,867)
15,158447,497

5,472
26,60732,0795,927
28,72934,656

160,767
5,528
20,30529,947(234)
216,314683,350
1,397,642

175,059
6,074
15,38329,962(147)
226,331
708,485
1,368,892

November 2, 2010
6/12

Liabilities
Current liabilities
Notes and accounts payable, trade
Short-term loans payable
Commercial paper
Lease obligations
Income taxes payable
Accrued expenses
Advances received
Provision for repairs
Provision for product warranties
Asset retirement obligations
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for retirement benefits
Provision for directors’ retirement benefits
Provision for repairs
Asset retirement obligations
Long-term guarantee deposited
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total valuation and translation adjustments
Minority interests
Total net assets
Total liabilities and net assets

Asahi Kasei
Consolidated Results

At end of
Sept. 2010

At end ofMarch 2010

137,354
101,689
21,0001,285
18,48789,31053,866
2,256
2,552
513
42,249470,560

121,409
93,962
19,0001,123
12,16091,37137,815
8,191
3,607
—
46,189434,827

25,000107,6883,606
5,038
108,610
1,040
1,467
3,296
18,26836
274,049744,60925,000121,9213,593
7,597
109,450
1,225
169—
18,321
2,101
289,378
724,204

103,389
79,402453,850(2,037)
634,604

103,389
79,403432,114(2,017)
612,888

29,027

36,692(56)(22,723)
6,248
12,182653,033
1,397,642(109)(16,128)
20,455
11,346644,688
1,368,892

November 2, 2010
7/12

VII. Consolidated 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
Foreign exchange losses
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
Environmental expenses
Loss on adjustment for changes of accounting
for asset retirement obligations
Business structure improvement expenses
Total extraordinary loss
Income before income taxes
Income taxes
Income before minority interests
Minority interests in income (loss)
Net income

Asahi Kasei
Consolidated Results

Q1–Q2
2009
658,648
507,540
151,108
133,144
17,964

Q1–Q2
2010764,794563,276
201,518
137,997
63,521

616
1,248
—
1,471
3,336

524
1,193
1,090
1,742
4,549

1,904
189
2,193
1,937
6,222
15,077

1,738
—
3,571
3,175
8,484
59,586

102
24
126

—
13
13

727
1,294
74
1,180

406
2,273
50
658

—

1,240

1,441
4,715
10,488
6,366
—
(120)
4,242

8,601
13,22846,371
16,88429,487
1,022
28,464

November 2, 2010
8/12

VIII. Cash flows

Cash flows from operating activities:
Income before income taxes
Depreciation and amortization
Impairment loss
Amortization of goodwill
Amortization of negative goodwill
Increase (decrease) in provision for repairs
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for retirement benefits
Interest and dividend income
Interest expense
Equity in (earnings) losses of affiliates
Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
Loss (gain) on sales of noncurrent assets
Loss (gain) on disposal of noncurrent assets
Decrease (increase) in notes and accounts receivable,
trade
Decrease (increase) 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:
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
Proceeds from purchase of investments in subsidiaries
resulting in change in scope of consolidation
Payments of loans receivableCollection of loans receivable
Other, net
Net cash provided by (used in) investing activities

Asahi Kasei
Consolidated Results

Q1–Q2
2009

Q1–Q2
2010

10,48839,541
74
525
(19)
991
(3,217)(84)(1,865)
1,904
189
(102)
727
(24)
1,294

46,37140,33950531(134)(4,636)(1,055)(746)(1,717)
1,738(1,090)
—
406
(13)
2,273

(25,998)(24,058)

11,823(23,845)(2,677)

13,954(8,423)8,459
11,46445,0692,899(1,992)
6,630
52,607(1,891)
16,073(15)
62,5362,491(1,783)(13,923)
49,321(46,887)
154(4,491)(5,623)
5,147(32,894)522(2,146)(1,423)
329

1,106

—

(6,429)4,946(1,644)(53,720)(1,575)
1,925(2,160)(37,422)

November 2, 2010
9/12

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
Redemption of bonds
Repayments of lease obligations
Purchase of treasury stock
Proceeds from disposal of treasury stock
Cash dividends paid
Cash dividends paid to minority shareholders
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 change of scope of consolidation
Cash and cash equivalents at end of period

Q1–Q2
2009

Q1–Q2
2010

(1,166)
9,000
4,792(13,794)(20,000)
(363)
(62)
21
(4,196)(268)
63(25,974)

911
2,000
251
(7,027)
－
(629)
(34)
12
(6,992)(361)(6)(11,875)621(2,091)(26,466)
98,092(2,067)
93,125360

876

71,986

91,934

IX. Additional Information
Beginning from the quarter ended June 30, 2010, Accounting Standard for Disclosuresabout Segments of an Enterprise and Related Information (ASBJ Statement No. 17) and
Guidance on Accounting Standard for Disclosures about Segments of an Enterprise andRelated Information (ASBJ Guidance No. 20) have been applied, resulting in six reporting
segments: Chemicals, Homes, Health Care, Fibers, Electronics, and Construction
Materials.
The “Others” category is equivalent to the previous Services, Engineering andOthers segment, including plant engineering and environmental engineering, research
and analysis, and employment agency/staffing operations.
The operating expenses of one consolidated subsidiary previously included inServices, Engineering and Others have been included in “corporate expenses andeliminations” beginning from the quarter ended June 30, 2010. The impact of thischange is immaterial.

Asahi Kasei
Consolidated Results

November 2, 2010
10/12

1. Consolidated net sales and operating income (loss) by segment
1) Consolidated net sales

Chemicals
Homes
Health Care
Fibers

Q1–Q2
2009
293.3
157.7
56.3
48.7

Q1–Q2
2010
365.0
173.5
57.8
54.6

Increase(decrease)
71.7
15.8
1.4
5.9

(billions of yen)
Fiscal 2010
forecast
741.0
413.0
117.0
107.0

Electronics
Construction Materials
Others
Total

68.5
24.6
9.6
658.6

83.2
23.4
7.4
764.8

14.6
(1.2)
(2.2)
106.1

166.0
49.0
15.0
1,608.0

2) Consolidated operating income (loss)

Chemicals
Homes
Health Care
FibersElectronics
Construction Materials
OthersCombined
Corporate expenses andeliminations
Consolidated

Q1–Q2
2009
11.5
4.1
3.4
(2.9)
2.8
0.6
1.0
20.6

Q1–Q2
2010
37.3
10.1
4.2
2.3
10.7
1.1
0.8
66.5

Increase(decrease)
25.8
6.0
0.8
5.2
7.9
0.5
(0.3)
45.9

(billions of yen)
Fiscal 2010
forecast
59.0
33.0
7.5
3.5
15.5
2.0
1.5
122.0

(2.6)

(3.0)

(0.4)

(7.0)

18.0

63.5

45.6

115.0

2. Operating income increases/decreases by segment(billions of yen)SalesvolumeChemicals
Homes
Health Care
FibersElectronics
Construction Materials
OthersCorporate expenses
and eliminations
Consolidated

Asahi Kasei
Consolidated Results

5.0
2.6
1.7
2.5
12.7
(0.1)
(0.1)

Increase (decrease) due to:OperatingSales prices [of which,costs anddue to foreign exchange]others
34.5(5.0)(13.7)
2.0
—
1.3
(2.7)
(1.1)
1.8
0.2
(0.9)
2.5
(9.9)
(1.3)
5.1
(0.4)
—
1.0
0.0
0.0
(0.1)

Net
increase(decrease)
25.8
6.0
0.8
5.2
7.9
0.5
(0.3)

—

—

—

(0.4)

(0.4)

24.3

23.7

(8.3)

(2.5)

45.6

November 2, 2010
11/12

3. Major financial metrics (consolidated)(billions of yen, except employees and D/E ratio)
Q1–Q2
Q1–Q2
Fiscal 2010
2009
2010
forecast
Capital expenditure (tangible)
43.2
30.1
69.0
Capital expenditure (intangible)
3.9
2.1
6.0
Purchase of investment securities
5.6
1.4
5.0
Depreciation and amortization
39.5
40.9
90.0
Balance of payments
(0.1)
(0.0)
(0.3)
of which, dividends received
1.2
1.2
2.1
R&D expenses
30.1
30.7
65.0
Employees at end of period
25,07625,150D/E ratio
0.49
0.41
4. Contract trends for home construction operations

No. of orders received (home units)
Value of orders received (¥ billion)
Backlog of orders (¥ billion)
No. of sales (home units)
Value of sales (¥ billion)

Q1–Q2
2009

Q1–Q2
2010

Increase(decrease)

Fiscal 2010
forecast

6,680
154.6
321.3
4,687
115.8

7,927
181.7
363.4
5,009
125.5

1,247
27.2
42.0
322
9.7

15,190344.0
348.1
13,180303.0

5. Key operating factors

Naphtha price(yen/kL, domestic)
Exchange rates
Yen/US$(market average) Yen/€

Q1–Q2
2009

Q1–Q2
2010

Increase(decrease)

Fiscal 2010
forecast

37,25046,2008,950

45,600

95
133

89
114

(7)
(19)

85
115

6. Interest-bearing debt (consolidated)

Short-term loans payable
Commercial paper
Long-term loans payable
Bonds payable
Lease obligations
Total

Asahi Kasei
Consolidated Results

At end ofMarch 2010
94.0
19.0
121.9
25.0
4.7
264.6

(billions of yen)
At end ofIncrease
Sept. 2010
(decrease)
101.7
7.7
21.0
2.0
107.7
(14.2)
25.0
—
4.9
0.2
260.3
(4.3)

November 2, 201012/12