Tokyo – Japanese chemicals and fibres maker Asahi Kasei Corp. has initiated a group-wide restructuring plan, which is designed to improve its management of resources.
As announced 3 March, the plan involves “a transformation of the corporate configuration” in which Asahi Kasei, currently a holding company, would become an operating holding company.
This is to take place through the absorption of three of its core operating companies, Asahi Kasei Chemicals, Asahi Kasei Fibers, and Asahi Kasei E-materials.
From 1 April, 2016- the start of the group’s 2016 financial year – these units will be absorbed into Asahi Kasei, forming the Materials business sector.
Asahi Kasei Group’s current four business sectors will, meanwhile, be changed to the three business sectors: Materials (currently Chemicals & Fibers and Electronics), Homes (currently Homes & Construction Materials), and Health Care.
This, said the company, would allow it to pursue growth by the optimum allocation of management resources while creating synergy among different business sectors.
The corporation’s board of directors are scheduled to approve the merger agreement on 8 Oct.