AHKSF - Asahi Kasei: Critical Care Should Improve In Margins And Revenues

2024-04-02 11:38:16 ET

Summary

• Asahi Kasei Corporation stock is going to get worse before it gets better, but still has a 14x multiple. Not terribly worthwhile.
• Its commodity businesses and tapering homes businesses will be offset by critical care, a secularly growing business under better procurement conditions now.
• Wage inflation in Japan is going to be the next obstacle for results as we finish up the year next quarter and start fiscal 2024.

Asahi Kasei Corporation ( AHKSF ) disclosures continue to improve, giving us an easier look at the recent results. In all, we see the typical pockets of performance in its businesses in areas that are less commodified....

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