Japan’s Asahi Kasei fiscal H1 profit surges on strong materials business

SINGAPORE (ICIS)–Asahi Kasei’s April-September 2024 net income increased nearly doubled, thanks to strong sales across business segments, the Japanese producer said on Friday.

in billion yen (Y)	Apr-Sept 2024	Apr-Sept 2023	% change
Net sales	1,490.3	1,345.9	10.7
EBITDA	197.5	144.7	36.5
Operating income	108.9	55.9	94.9
Net income	60.2	30.8	95.3

Its material business reported strong earnings due to firm demand in the semiconductor and electronics markets.

The segment’s fiscal H1 operating income surged to Japanese yen  (Y) 50.2 billion ($329 million) from Y17.7 billion in the previous corresponding period, with sales surging by 12.4% to Y685.7 billion.

Asahi Kasei revised up its year-to-March 2025 net income forecast to Y110 billion, more than double the Y43.8 billion profit recorded in the previous fiscal year.

It expects operating margin to improve on higher petrochemical market prices.

($1 = Y152.5)

Thumbnail image: At a semiconductor device manufacturing enterprise in  Binzhou City in Shandong, China – 18 July 2023. (Costfoto/NurPhoto/Shutterstock)