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Asahi Kasei profit seen growing 20% on EV battery materials

Carbon-cutting trend boosts materials demand from pandemic slump

Asahi Kasei is the world's No. 2 supplier of battery separators, used in electric cars among other applications.   © Reuters

TOKYO -- Japanese chemical maker Asahi Kasei's group operating profit grew about 20% to roughly 200 billion yen ($1.5 billion) in fiscal 2021, Nikkei has learned, buoyed by a rebound in demand for auto parts and brisk sales of battery materials.

The figure falls slightly short of the company's 213.1 billion yen forecast, but is close to an all-time high. Sales also rose about 20% to 2.45 trillion yen, in line with Asahi Kasei's projection and topping the record set in fiscal 2018.

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