Asahi Kasei Corporation (AHKSF), said on Tuesday that it has completed the divestiture of Daramic, its lead battery separator business, to Kingswood Capital Management, LP. The transaction closed on December 1, 2025, and the company noted that the impact on its consolidated financial results for fiscal 2025 is immaterial.
The Japanese manufacturer acquired Daramic in 2015 as part of its purchase of Polypore, which included both the lead battery separator operations and the Celgard dry-process lithium-ion separator business. With the sale now completed, Asahi Kasei said it will focus on strengthening its battery separator portfolio through continued investment in its Hipore wet-process lithium-ion technology, targeting automotive applications in North America, Japan, and Korea.
Asahi Kasei added that the divestiture aligns with its three-year medium-term management plan, Trailblaze Together, which aims to improve capital efficiency and accelerate earnings. As part of this strategy, the company is concentrating resources on its key growth pillars—pharmaceuticals, critical care, overseas homes, and electronics.
"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 of Asahi Kasei Corporation and President of the Material Sector. "This divestiture represents a strategic step that allows Asahi Kasei to evolve its capabilities with high-potential initiatives, such as strengthening our electronics business and expanding our lithium-ion battery separator business in North America, both key drivers of profit growth."
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