Astena Holdings Co., Ltd.
8095・Prime Market・Wholesale Trade
Fine Chemicals Business
A pharmaceutical support platform business centered on pharmaceutical CMC outsourcing, raw material supply, and CDMO
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (H1 FY2026, ending November 2026) | ¥10,930 million | ¥11,558 million (H1 FY2025, ending November 2025) | ↓ |
| Operating profit (H1 FY2026, ending November 2026) | ¥729 million | ¥871 million (H1 FY2025, ending November 2025) | ↓ |
| Sales (full year FY2025, ending November 2025) | ¥22,333 million | — | — |
| Operating profit (full year FY2025, ending November 2025) | ¥909 million | — | — |
| Unamortized goodwill balance (as of May 31, 2026) | ¥3,809 million (consolidated total) | ¥3,976 million (as of November 30, 2025) | ↓ |
Business Details
Composed of three divisions: pharmaceutical CMC research & development and manufacturing outsourcing (Pharmaceutical Development Ecosystem Division), pharmaceutical raw material manufacturing and sales (Pharmaceutical Raw Materials Platform Division), and formulation/API contract manufacturing (Pharmaceutical CDMO Division). Main customers are new drug manufacturers, ventures, and generic drug manufacturers, with differentiation achieved through high-value-added technologies including the proprietary peptide synthesis technology "Molecular Hiving™". Main subsidiaries are Speeda Pharma, Spera Nexus, JITSUBO, and Iwaki Seiyaku's Sakura Plant.
Recent Overview
Both sales and profit declined year on year in the first half, mainly due to sluggish CMC orders and a decrease in large CDMO items
In the first half of FY2026 (ending November 2026) (December 1, 2025 to May 31, 2026), the Fine Chemicals Business recorded sales of ¥10,930 million (down 5.4% year on year) and operating profit of ¥729 million (down 16.3% year on year). While the Pharmaceutical Development Ecosystem Division saw expansion in mid-molecule API process development projects using the Molecular Hiving™ method, orders in the CMC field were limited. In the Pharmaceutical CDMO Division, the decrease in large-scale items in the raw material manufacturing field had an impact. On the other hand, the Pharmaceutical Raw Materials Platform Division maintained strong performance due to new deliveries of imported APIs and expansion of existing products.
Key Products
Growth Drivers
- Capacity improvement through the introduction of a two-shift system for external preparations in the Pharmaceutical CDMO Division and expansion of high-value-added outsourced items
- Expansion of demand for mid-molecule pharmaceutical (peptide/nucleic acid) development and growth in orders from overseas mega-pharma companies utilizing Molecular Hiving™ technology
- Focus on securing orders in new technology areas such as MicroED and nitrosamine-related fields in the CMC field
- Response to needs for diversification of domestic pharmaceutical raw material supply chains against the backdrop of economic security concerns
- Strengthening of sales activities toward new drug manufacturers, ventures, and generic drug manufacturers to secure new projects
Risks
- Risk of difficulty procuring some imported products in the Pharmaceutical Raw Materials Platform Division due to tightening import regulations in China
- Risk of sales fluctuation in the Pharmaceutical CDMO Division due to delays in material procurement and reduced deliveries caused by customers (a decrease in large-scale items materialized in the current half)
- Suppression of domestic CMC demand due to new drug manufacturers' tendency to prioritize overseas markets under the influence of the domestic drug pricing system
- Impairment risk related to the goodwill balance (consolidated total of ¥3,809 million as of May 31, 2026) (an impairment loss of ¥133 million was recorded in the previous consolidated fiscal year)
- Risk of price fluctuations and supply restrictions in raw material procurement due to the situation in the Middle East (impact from the third quarter onward is being examined)
- Changes in the competitive environment due to consolidation of manufacturing sites and industry restructuring against the backdrop of rising construction-related costs
Last updated: February 25, 2026