In its fiscal year ending March 2026, Asahi Kasei's largest operating profit pillar was housing, not the chemicals business its name evokes. Among its three main pillars, Materials posted sales of 1.3062 trillion yen, accounting for 42.5% of consolidated revenue, but operating profit came to just 68.3 billion yen, falling below Housing's 99.7 billion yen and Healthcare's 83.4 billion yen to rank third. Operating margins tell the same story: Materials at 5.2%, versus Housing at 9.3% and Healthcare at 12.6%, meaning the largest business by scale is the least profitable. Materials saw both revenue and profit decline year on year, with sales down 4.6% and operating profit down 14.5%, while booking 164.8 billion yen in capital investment and 18.7 billion yen in impairment losses. Healthcare, by contrast, grew sales 7.8% to 664.1 billion yen and operating profit 30.3% to 83.4 billion yen, while Housing also rose 4.0% on both lines, to 1.0773 trillion yen in sales and 99.7 billion yen in operating profit. The share price climbed from the 1,100 yen range at the end of October 2025 to the 1,800 yen range by the end of February 2026, having traded near 1,600 yen in September, putting the gain from that starting point at more than 30%.
Asahi Kasei CorporationMaterials (largest segment) saw sales down 4.6% and operating profit down 14.5% with impairment losses, while Housing and Healthcare grew profit, making the overall earnings picture mixed.
