Care for People Care for Earth Hiroshi Yoshida Director, Vice-Presidential Executive Officer Executive Officer for Material business sector November 14, 2019
Outline 1. Introduction 2. Material sector growth strategy (1) Management policy (2) Sustainability (3) Business strategy Priority fields for provision of value, reorganization, investment strategy, R&D policy (4) Heightening business platform 3. Contribution to solving plastic issues Disclaimer The forecasts and estimates shown in this document are dependent on a variety of assumptions and economic conditions. Plans and figures depicting the future do not imply a guarantee of actual outcomes. 2 2
2. 旭化成が目指す姿 1. Introduction 3 3
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1. Introduction Overview of the Asahi Kasei Group Material accounts for over half of Asahi Kasei’s total sales Sales ¥2,170.4 billion Asahi Kasei Corp. (holding function) Operating income ¥209.6 billion Sales ¥316.2 billion Sales ¥1,176.2 billion Health Care Material Operating income ¥41.8 billion Operating income ¥129.6 billion ・ Asahi Kasei Pharma ・ Asahi Kasei Corp. (business function) ・ Asahi Kasei Medical Basic Materials SBU ・ ZOLL Medical Others Performance Products SBU 1% 15% Specialty Solutions SBU ・ Asahi Kasei Microdevices Share of sales 54% 30% (FY 2018) ・ Asahi Kasei Homes ・ Asahi Kasei Construction Materials Sales ¥659.8 billion Homes Operating income ¥68.2 billion 5 5
1. Introduction Priority fields for provision of value Asahi Kasei has 5 priority fields for provision of value to contribute to sustainable society; 3 of these are in the Material sector Contributing to sustainable society Challenges and needs Environment Innovation Longevity Contributing to life and living for people around the world Group Mission Enabling “living in health and comfort” and “harmony with the natural environment” Group Vision Material Homes Health Care Priority Home Health fields for Life Environment Mobility & Living Care Material provision & Energy of value Healthy Security and Reduced Safety and Comfort and longevity fulfillment burden comfort convenience 6 6
2. Material sector growth strategy 2. 旭化成が目指す姿 (1) Management policy 7 7
1. Introduction Management policy 1. Sustainability • Achieving both sustainable growth and contribution to sustainable society 2. Business strategy • Expanding business in priority fields for provision of value to achieve portfolio transformation and provide new value and solutions to society • Reorganization to stimulate connections and generate synergy 3. Heightening business platform • Heightening businesses by digital transformation • Fostering a culture of continuously taking on challenges for personal growth of employees and for business growth 8 8
2. Material sector growth strategy 2. 旭化成が目指す姿 (2) Sustainability 9 9
2. Material sector growth strategy Basic concept for contributing to sustainable society 3 approaches to further develop existing businesses and create new businesses Further development New business creation of existing businesses Material innovation Manufacturing process Existing markets New markets innovation Product performance enhancement 10 10
2. Material sector growth strategy Contributing to sustainable society through expansion of businesses that support environmental protection Achieving both business growth and environmental contribution Amount of GHG emissions reduced Total sales in Mobility by the 3 products below (¥ billion) (estimated by Asahi Kasei) 600 3.63 million tons of Business growth & CO 2 equivalent 400 environmental contribution 200 0 FY 2018 FY 2018 FY 2025 2018 2025 2018 Lightweighting Fuel efficiency Electric drive Xyron m-PPE 2 S-SBR 1 for fuel- LIB 3 separator efficient tires 1 Solution-polymerized styrene-butadiene rubber 2 Modified polyphenylene ether 3 Lithium-ion battery 11 11
2. Material sector growth strategy (3) Business strategy 2. 旭化成が目指す姿 Priority fields for provision of value 12 12
2. Material sector growth strategy Basic strategy and financial objectives Basic strategy Flexible allocation of management resources to priority fields Expansion of high value-added businesses 200 Operating income (¥ billion) 180.0 Environment (figures are approximate) & Energy 150.0 135 Focus of this 129.6 presentation 105 80 Mobility 100 High value-added businesses Life Material Commodity businesses (earnings base) 0 FY2018 FY2021 FY2025 target outlook High value-added businesses: Fibers, synthetic rubber, engineering plastics, coating materials, ion-exchange membranes, 13 13 electronic materials, battery separators, electronic devices, etc.
2. Material sector growth strategy Priority fields for provision of value Environment Mobility & Energy Various approaches to expand businesses in priority fields for provision of value Further development of New business creation existing businesses Foamed materials Material Cellulose nanofiber innovation CO 2 sensor Manufacturing CO 2 chemistry Green hydrogen process CO 2 separation/recovery innovation Sage Growth Battery separators engines 14 14
2. Material sector growth strategy Development of new technology contributing to sustainable Environment society: Business reinforcement and expansion in CCU (carbon capture and utilization) & Energy Asahi Kasei has essential technology for sustainable society: (i) CO 2 chemistry, (ii) alkaline water electrolysis system, and (iii) CO 2 separation/recovery CO2 CO 2 (i) CO 2 chemistry CO2 リサイクル ① CO2 ケミストリー (iii) CO 2 Isocyanate for イソシアネート 分離回収 ポリウレタン separation/recovery Asahi Kasei’s unique technology polyurethane 旭化成の独自技術 1. CO 2 derivative utilization Biomass raw 1. CO2 誘導体利用技術 バイオ原料 ポリカーボネート (isocyanate production) Polycarbonate material 『 SS-Agent 法技術 』 2. CO 2 utilization 2. CO2 利用技術 ② アルカリ水電解 Fuel (polycarbonate production) (ii) Alkaline water Green 燃料 ( メタノール等 ) 『 EC/DRC 法 DPC 』 グリーン水素 水素製造 EC 1 process and (methanol, etc.) electrolysis system hydrogen DRC 2 process for DPC 3 Surplus 再生可能エネルギー H2O H 2 O renewable 余剰電力 energy 1 Ethylene carbonate 2 Dialkyl carbonate 3 Diphenyl carbonate 15 15
2. Material sector growth strategy Contribution in Mobility Mobility Achieve reduced environmental burden and comfortable vehicle interiors Reduction of Comfort of vehicle environmental burden interiors Care for Earth Care for People AKXY POD vehicle interior concept mockup 16 16
2. Material sector growth strategy Steps to achieve contribution Mobility Care for Earth Care for People Material Strengthening Globalization innovation of value chain Foamed materials: Enhanced Acquisition of Sage PA, m-PPE marketing (lightweight, sound absorption, (Tier-2 supplier with platform in thermal insulation) North American automotive market) Cellulose nanofiber Manufacturing in composite optimum locations Entry into airbag fabric (lightweight, low environmental sewing business burden) (downstream expansion from Reinforcing the CO 2 sensors material) Asahi Kasei brand (energy saving) 17 17
2. Material sector growth strategy (3) Business strategy 2. 旭化成が目指す姿 Reorganization, investment strategy, R&D policy 18 18
2. Material sector growth strategy Reorganization Reorganization for flexible allocation of management resources to priority fields for provision of value •Raise flexibility of management resources and establish configuration to fully leverage collective strength •Stimulate connections to enhance growth in priority fields for provision of value •Advance business portfolio transformation Material (current) Material (former) Petrochemicals SBU Basic Materials SBU Fibers & Textiles SBU Performance Polymers SBU Performance Products SBU combined Consumables SBU Performance Materials SBU combined Specialty Solutions SBU Separators SBU Asahi Kasei Microdevices Asahi Kasei Microdevices 19 19
2. Material sector growth strategy Maximization of earnings from previous investments (FY 2016–2018) Making the most of previous investments to increase earnings during the current medium-term initiative Investments of ≈¥500 billion for Material Care for Care for Automotive (decision-adopted basis) Earth People of which, large investments 1 • Capacity expansion for Lamous artificial suede • Capacity expansion for S-SBR for fuel-efficient tires • Capacity expansion for Leona nylon 66 filament Sustainability Automotive • Acquisition of Sage Automotive Interiors, Inc. • Acquisition of Swedish gas sensor module maker Senseair AB Investments of ≥¥1 billion ¥25 ¥150 Total ≈¥330 billion billion billion (decision-adopted Environment & Energy basis) ¥85 • Capacity expansion for Li-ion battery separator billion Sustainability Environment & Energy • Renovation of hydroelectric power plants • Conversion of coal-fired power plant to natural gas-fired power plant 1 Only main investments shown; figures by field are approximate 20 20
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