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

August 2, 2013

Consolidated Results for 1st Quarter Fiscal 2013:
April 1, 2013 – June 30, 2013
(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 2013429,963 [+17.8%]
28,321 [+161.1%]
27,514 [+238.5%]
19,634 [+522.4%]
14.05—

Q1 2012Net sales
365,001 [−0.8%]
Operating income
10,846 [−64.1%]
Ordinary income
8,129 [−73.2%]
Net income
3,155 [−83.7%]
Net income per share*
2.26
Diluted net income per share*—* Yen
Note: Comprehensive income (loss) was ¥39,130 million during Q1 2013, and ¥(11,650)
million during Q1 2012.
2. Financial position
At end ofTotal assets
Net assets
Net worth/total assets
Net worth per share*

June 2013
1,841,946
853,58545.7%
601.83

March 2013
1,800,170
824,45145.1%
581.05* Yen
Notes:
 Net worth consists of shareholders’ equity and accumulated other comprehensive income.
 Net worth as of June 30, 2013, was ¥841,089 million; as of March 31, 2013, ¥812,080 million.
II. Cash Dividends
Fiscal year
2012
2013
2013 (forecast)

Q1
—
—

Q2
7.00

Cash dividends per share*
Q3
Q4
—
7.00
—

7.00

7.00

Total annual
14.00
14.00
* Yen

Note: No revision of cash dividend forecast was made subsequent to the latest announced forecast.

Asahi Kasei
Consolidated Results

August 2, 2013
1/12

III. Forecasts for Fiscal 2013 (April 1, 2013 – March 31, 2014)
1. Latest forecasts (percent change from results in year-ago period in brackets)
First half
920,000 [+16.8%]
65,000 [+69.7%]
61,000 [+70.1%]
38,000 [+84.3%]
27.19

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

Full year
1,891,000 [+13.5%]
130,000 [+41.4%]
130,000 [+36.7%]
77,000 [+43.4%]
55.09
* Yen

2. Comparison of previous and revised H1 2013 forecasts

Net sales
Operating income
Ordinary income
Net income

Previous H1
2013 forecast
912.0
59.0
57.5
32.5

Revised H1
2013 forecast
920.0
65.0
61.0
38.0

Increase(decrease)
8.0
6.0
3.5
5.5

(billions of yen)cf. H1 2012
results
787.5
38.3
35.9
20.6

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 the first half of fiscal 2013 announced on May 9, 2013, has been revised.
 The forecast for the full year shown above is that which was announced on May 9, 2013.
A revision will be made when first half results are announced.
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 2013
1,402,616,332
5,055,273
1,397,579,922

FY 2012
1,402,616,332
5,016,645
1,397,683,505** Q1 2012

Asahi Kasei
Consolidated Results

August 2, 2013
2/12

V. Overview of Consolidated Results
1. Consolidated group results
Although the US economy showed signs of recovery with improving employment during theApril–June quarter of 2013, the outlook for global economy remained obscure with slowing growthin China and other emerging economies and the European economy continuing to stagnate. The
Japanese economy was on a gradual path of recovery under the government’s economic policies,
with conditions for exports improving due to depreciation of the exchange value of the yen andsigns of recovery in consumer spending.
Consolidated net sales of Asahi Kasei Corp. and its consolidated subsidiaries and equitymethod affiliates (the Asahi Kasei Group) increased by ¥65.0 billion (17.8%) from a year ago to¥430.0 billion, with increased deliveries in the Homes segment, and increased sales volume in theChemicals segment and of pharmaceutical products in the Health Care segment, as well as theeffect of the weaker yen. Operating income increased by ¥17.5 billion (161.1%) to ¥28.3 billion.
Ordinary income increased by ¥19.4 billion (238.5%) to ¥27.5 billion. Net income increased by¥16.5 billion (522.4%) to ¥19.6 billion.
2. Results by operating segment
The Asahi Kasei Group’s operations are described by major business classification: sevenreportable segments of Chemicals, Fibers, Homes, Construction Materials, Health Care, andCritical Care, together with an “Others” category. Beginning with the April–June quarter of 2013,
the sequence of reportable segments has been changed to correspond with the classification of ourfour business sectors: Chemicals & Fibers, Homes & Construction Materials, Electronics, andHealth Care. In the Critical Care segment, results for the year-ago period were included
beginning on April 27, 2012, while results were subject to consolidation throughout the entire
period beginning with the April–June quarter of 2013.
CHEMICALS
Sales increased by ¥32.1 billion (19.9%) from a year ago to ¥193.1 billion, and operating income
increased by ¥5.9 billion (135.8%) to ¥10.2 billion.
Chemicals and derivative products operations were impacted by low market prices foracrylonitrile and high feedstock prices, but the depreciation of the yen and improved market prices
for styrene monomer contributed to performance. The depreciation of the yen also contributed toperformance in polymer products operations, and shipments of synthetic rubber for fuel-efficienttires and engineering plastics for automotive applications were firm. In specialty products
operations, the effect of the depreciation of the yen was most notable for ion-exchange membranes,
and shipments of coating materials were firm.
FIBERS

Sales increased by ¥2.6 billion (9.8%) from a year ago to ¥28.8 billion, and operating income
increased by ¥1.6 billion (265.3%) to ¥2.2 billion.
Although the cost of petrochemical feedstocks rose, operating income in fibers increased
with the effect of the weaker yen, increased sales volume of nonwovens such as Lamous™
artificial suede for automotive interiors and of Roica™ elastic polyurethane filament, and firm
shipments of Bemberg™ cupro regenerated cellulose.
HOMES
Sales increased by ¥12.1 billion (14.0%) from a year ago to ¥98.4 billion, and operating income
increased by ¥3.0 billion (81.9%) to ¥6.6 billion. Orders for order-built homes increased by ¥10.9
billion (10.8%) to ¥111.8 billion.
In order-built homes operations, deliveries of both Hebel Haus™ unit homes and Hebel
Maison™ apartment buildings increased. In real estate operations, rental management performed
well. Remodeling operations enjoyed strong orders for major remodeling work and otherrenovation work.

Asahi Kasei
Consolidated Results

August 2, 2013
3/12

CONSTRUCTION MATERIALS
Sales increased by ¥1.5 billion (13.2%) from a year ago to ¥13.1 billion, and operating income
increased by ¥0.8 billion (156.9%) to ¥1.3 billion.
Hebel™ autoclaved aerated concrete panels and Neoma™ high-performance phenolic foam
insulation panels enjoyed strong sales. In foundation systems, orders for Eazet™ piling systems
for small-scale construction expanded in new applications such as “mega solar” projects.
Performance in structural materials was firm.
ELECTRONICS
Sales increased by ¥2.5 billion (7.4%) from a year ago to ¥36.5 billion, and operating income
increased by ¥4.2 billion to ¥3.8 billion.
Although electronic devices operations were impacted by reduced sales prices in eachproduct category, the weaker yen contributed to performance, and sales of mixed-signal LSIs for
smartphones were firm. In electronic materials operations, the weaker yen contributed toperformance, and sales of high-end products in each product category grew, most notably Hipore™
Li-ion battery separator.
HEALTH CARE
Sales increased by ¥6.0 billion (18.4%) from a year ago to ¥38.3 billion, and operating income
increased by ¥4.2 billion (89.6%) to ¥9.0 billion.
Although pharmaceuticals operations were impacted by higher selling, general andadministrative expenses, shipments of Teribone™ osteoporosis drug and Recomodulin™
recombinant thrombomodulin increased. The weaker yen contributed to performance in devicesrelated operations, and shipments of Planova™ virus removal filters increased.
CRITICAL CARE
Sales increased by ¥8.7 billion (95.3%) from a year ago to ¥17.8 billion, gross operating income*decreased by ¥0.1 billion (4.4%) to ¥1.8 billion, and the consolidated operating loss increased by¥1.0 billion to ¥1.5 billion. The effect of amortization of goodwill and other intangible assets, etc.,
related to acquisition of ZOLL Medical Corporation increased by ¥0.9 billion to ¥3.3 billion.
LifeVest™ wearable defibrillator operations expanded smoothly, and other products such asdefibrillators for use by medical professionals performed well, but selling, general andadministrative expenses grew with reinforced marketing activity. The increase in sales andincrease in operating loss were enlarged by the difference in the period subject to consolidation.
* Operating income before amortization of goodwill and other intangible assets, etc., related toacquisition of ZOLL by Asahi Kasei.
OTHERS
Sales in “Others” decreased by ¥0.4 billion (9.4%) from a year ago to ¥4.0 billion, and operating
income decreased by ¥0.4 billion (49.0%) to ¥0.4 billion.

Asahi Kasei
Consolidated Results

August 2, 2013
4/12

VI. Consolidated Financial Statements
1. Balance sheets

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable–trade
Short-term investment securities
Merchandise and finished goods
Work in progress
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 2013

At end ofJune 2013

109,513306,222124
145,470
100,513
63,69521,94573,619(1,631)
819,469

102,034
305,242364
148,471
123,370
71,53722,07670,060(1,681)
841,474

428,616(241,191)
187,425
1,236,111(1,082,480)
153,631
58,176
13,980(7,173)
6,806
41,482
129,716(115,656)
14,060461,581441,301(244,748)
196,553
1,258,789(1,099,141)
159,648
58,096
14,069(7,848)6,221
32,739132,377(116,582)
15,795
469,052

134,303
121,114
255,417

138,555
122,448
261,003

224,903
5,248
8,487
25,311(245)
263,704
980,7021,800,170

233,906
5,083
5,980
25,715(266)
270,417
1,000,472
1,841,946

August 2, 2013
5/12

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 retirement benefits
Provision for directors’ retirement benefits
Provision for periodic repairs
Provision for removal cost of property, plant andequipment
Asset retirement obligations
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 adjustments
Total accumulated other comprehensive income
Minority interests
Total net assets
Total liabilities and net assets

Asahi Kasei
Consolidated Results

At end ofMarch 2013

At end ofJune 2013

172,630
113,043
70,0005,000
2,415
91,646
13,97861,953
2,359
2,143

177,224
115,620
81,0005,000
2,298
77,197
8,651
78,610
5,432
2,037

1,910

2,402

722
65,064602,864715
58,052
614,237

40,000146,929
4,051
39,985
107,776
767
4,255

40,000150,565
3,572
41,801109,099
663
598

2,960

1,751

2,834
18,396
4,902
372,855
975,719

3,423
18,291
4,359
374,123
988,361

103,389
79,403
553,557(2,431)
733,918

103,389
79,403
563,439(2,457)743,774

62,622(900)
16,44078,162
12,371
824,451
1,800,170

69,474(688)
28,53097,315
12,496
853,585
1,841,946

August 2, 2013
6/12

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
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expense
Equity in losses of affiliates
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
Total extraordinary loss
Income before income taxes and minority interests
Income taxes
Income before minority interests
Minority interests in income
Net income

Asahi Kasei
Consolidated Results

Q1 2012
365,001
274,374
90,627
79,781
10,846

Q1 2013429,963
313,327
116,636
88,31428,321

373
1,007
—
814
2,193

280
1,088
727
787
2,882

792
524
1,500
2,095
4,911
8,129

852
1,872
—
966
3,690
27,514

—
33
33

35
1,467
1,502

22
1,128
27
18
1,194
6,967
3,750
3,217
62
3,155

—
461
—
357
818
28,197
8,376
19,821
187
19,634

August 2, 20137/12

(2) Statements of comprehensive income

Income before minority interests
Other comprehensive income
Net increase or decrease in unrealized gain on othersecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Share of other comprehensive income of affiliates
accounted for using equity method
Total other comprehensive income (loss)
Comprehensive income (loss)
Comprehensive income (loss) attributable to:
Owners of the parent
Minority interests

Asahi Kasei
Consolidated Results

Q1 20123,217

Q1 2013
19,821(3,086)

6,837

1,428
(11,684)

211
11,885(1,526)376(14,867)(11,650)

19,30939,130(11,447)(203)

38,787343

August 2, 2013
8/12

3. Statements of cash flows

Cash flows from operating activities
Income before income taxes and minority interests
Depreciation and amortization
Impairment loss
Amortization of goodwill
Amortization of negative goodwill
Decrease in provision for periodic repairs
Decrease in provision for product warranties
Decrease in provision for removal cost of property, plant andequipment
Increase in provision for retirement benefits
Interest and dividend income
Interest expense
Equity in losses 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
Decrease in notes and accounts receivable–trade
Increase in inventories
Increase 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
Purchase of shares in subsidiaries resulting in change in scope of
consolidation
Additional purchase of investments in consolidated subsidiaries
Payments of loans receivableCollection of loans receivable
Other, net
Net cash used in investing activities

Asahi Kasei
Consolidated Results

Q1 2012

Q1 2013

6,967
17,895
27
1,397
(58)
(3,497)(230)

28,197
19,951
—
2,190
(58)
(584)
(114)

(649)

(717)

538
(1,379)
792
524
—
22
(33)
1,128
6,573
(22,685)
12,965(15,054)
13,660(10,511)
8,391
2,112
(983)
(4,827)
4,692

1,291
(1,368)
852
1,872
(35)
—
(1,467)461
3,077(30,906)
3,023(15,330)
16,494
1,896
28,725
1,927(627)(11,353)
18,673(3,828)2,784(16,652)
99(2,732)(1,128)500(2,640)2,640(21,518)
2,030(8,955)(2,507)87(174,308)—(1,310)(3,123)2,018
706(196,973)—(2,453)2,565(192)(30,943)

August 2, 2013
9/12

Cash flows from financing activities
Increase in short-term loans payable
Increase in commercial paper
Proceeds from long-term loans payable
Repayment of long-term loans payable
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 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 in cash and cash equivalents resulting from changes in scopeof consolidation
Effect of change in the reporting period of consolidated
subsidiaries and affiliates
Cash and cash equivalents at end of period

Q1 2012

Q1 2013

185,425
36,000812(5,243)(625)(8)
2(9,784)(403)(60)
206,117(5,329)8,507
96,351

2,071
11,000
1,862
(651)
(672)
(26)
0
(9,783)
(20)
(17)
3,763
1,175
(7,331)
104,008102

1(5,327)—

99,63496,678VII. Additional Information
1. Consolidated net sales and operating income (loss) by segment
Note: Beginning with the April–June quarter of 2013, the sequence of segments has been changed to correspond withthe classification of our four business sectors: Chemicals & Fibers, Homes & Construction Materials, Electronics, andHealth Care.

1) Consolidated net sales by segment

Chemicals
FibersHomes
Construction Materials
Electronics
Health Care
Critical Care
Others
Total

Asahi Kasei
Consolidated Results

Q1 2012

Q1 2013

161.1
26.3
86.3
11.5
34.0
32.4
9.1
4.4
365.0

193.1
28.8
98.4
13.1
36.5
38.3
17.8
4.0
430.0

Increase(decrease)
32.1
2.6
12.1
1.5
2.5
6.0
8.7
(0.4)
65.0

(billions of yen)First half FY
2013 forecast
398.0
59.0
239.0
28.0
74.0
76.0
38.0
8.0
920.0

August 2, 2013
10/12

2) Consolidated operating income (loss) by segment

Chemicals
FibersHomes
Construction Materials
Electronics
Health Care
Critical Care
OthersCombined
Corporate expenses and eliminations
Consolidated

Q1 2012

Q1 2013

4.3
0.6
3.6
0.5
(0.4)
4.7
(0.5)
0.8
13.8
(2.9)
10.8

10.2
2.2
6.6
1.3
3.8
9.0
(1.5)
0.4
32.1
(3.7)
28.3

Increase(decrease)
5.9
1.6
3.0
0.8
4.2
4.2
(1.0)
(0.4)
18.3
(0.8)
17.5

(billions of yen)First half FY
2013 forecast
21.0
3.5
26.5
2.5
7.0
14.0
(2.0)
0.5
73.0
(8.0)
65.0

2. Operating income increases/decreases by segment(billions of yen)
Increase (decrease) due to:

Chemicals
FibersHomes
Construction Materials
Electronics
Health Care
Critical Care
OthersCorporate expenses andeliminations
Consolidated

Net
increase(decrease)

(0.1)
0.2
3.9
0.2
0.6
4.2
0.9
(0.2)

6.7
1.8
0.4
0.1
2.4
1.5
0.2
—

6.5
1.6
—
—
4.7
1.5
0.0
—

Operatingcosts andothers
(0.7)
(0.4)
(1.3)
0.5
1.1
(1.4)
(2.1)
(0.2)

—

—

—

(0.8)

(0.8)

9.7

13.0

14.3

(5.2)

17.5

Sales
volumeSales prices [of which, due
to foreign exchange]

5.9
1.6
3.0
0.8
4.2
4.2
(1.0)
(0.4)

3. Major financial metrics (consolidated)(billions of yen, except employees and D/E ratio)
Q1 2012
Q1 2013
Capital expenditure (tangible)
22.0
17.6
Capital expenditure (intangible)
3.6
2.7
Depreciation and amortization
17.9
20.0
Balance of payments
0.6
0.5
of which, dividends received
(1.0)
(1.1)
Employees at end of period
28,401
28,987
D/E ratio
0.57
0.47

Asahi Kasei
Consolidated Results

August 2, 2013
11/12

4. Contract trends for home construction operations
Q1 2012

Q1 2013

4,553
100.9
433.1
2,379
59.7

4,794
111.8
486.4
2,791
70.0

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

Increase(decrease)
241
10.9
53.4
412
10.3

First half FY
2013 forecast
10,560
234.0
501.6
7,300
177.0

5. Key operating factors

Naphtha price(yen/kL, domestic)
Exchange rates(market average)

Yen/US$Yen/€

Q1 2012

Q1 2013

Increase(decrease)

First half FY
2013 forecast

60,60065,5004,900

65,250

80
103

99
129

19
26

99
129

6. Interest-bearing debt (consolidated)

Short-term loans payable
Commercial paper
Current portion of bonds payable
Long-term loans payable
Bonds payable
Lease obligations
Total

Asahi Kasei
Consolidated Results

At end ofMarch 2013
113.0
70.0
5.0
146.9
40.0
6.5
381.4

At end ofJune 2013
115.6
81.0
5.0
150.6
40.0
5.9
398.1

(billions of yen)
Increase(decrease)
2.6
11.0
—
3.6
—
(0.6)
16.6

August 2, 201312/12