Asahi Kasei has announced its decision to discontinue its business for Asaflex clear styrenic block copolymer. The product line has been manufactured at the company’s Kawasaki Works since 1982. Recently, however, with the deterioration of its profitability caused by environmental factors such as obscure business prospects in major markets, it has become difficult to formulate a strategy for future expansion. The decision was thus made to discontinue the business, the company said in a statement issued in 27 August. The production stop is scheduled for 31 March 2023, stop of sales will be 30 September 2023.
The Japanese company said that under the “Cs+ for Tomorrow 2021” medium-term management initiative, it is transforming its business portfolio for sustainability and high added value. The allocation of management resources is prioritized based on the four perspectives of high profitability, high market growth, priority fields for provision of value, and sustainability. The decision to discontinue the Asaflex business was made in light of such perspectives. The management resources of the Asaflex business will be reallocated to other businesses.