Asahi Kasei Corp. has completed the sale of its lead battery separator subsidiary, Daramic, to Los Angeles-based Kingswood Capital Management LP, marking the latest step in its ongoing portfolio transformation under its “Trailblaze Together” medium-term management plan. The deal, which closed on December 1, 2025, is not expected to have a material impact on the company’s consolidated financial results for the fiscal year.
The divestiture aligns with Asahi Kasei’s broader strategy to refocus resources on higher-growth areas such as electronics and advanced energy materials. “As we enter a new era for our company, it is critical that we align our resources with areas that will drive future growth,” said Hideyuki Yamagishi, Primary Executive Officer and President of Asahi Kasei’s Material Sector.
Asahi Kasei entered the lead battery separator market through its 2015 acquisition of Polypore International, gaining ownership of both Daramic and Celgard, which produces lithium-ion battery separators. Following the sale, the company will enhance its position in the evolving battery separator market through continued investment in its Hipore wet-process lithium-ion technology, with a focus on automotive applications in North America, Japan, and Korea.
The move underscores Asahi Kasei’s ongoing structural realignment aimed at improving capital efficiency and profitability. Recent measures, including its exit from the methyl methacrylate business and its expansion of Pimel photosensitive polyimide capacity, reflect a pivot toward sectors with stronger margins and long-term growth potential, such as pharmaceuticals, critical care, overseas housing, and electronics.
The transaction marks another step in Asahi Kasei’s shift toward becoming a more focused, innovation-driven materials and technology group positioned for the next phase of global energy and mobility transformation.
