Overview
Wholesale Trade

Astena Holdings Co.,Ltd.

Astena Holdings is a diversified holding company operating across five business segments: Fine Chemicals (CMC R&D and manufacturing of pharmaceutical ingredients, including peptide APIs via its proprietary Molecular Hiving™ technology), HBC & Food (distribution and manufacturing of OTC pharmaceuticals, cosmetic ingredients, functional food ingredients, and health-related consumer products), Pharmaceuticals (manufacture and sale of ethical and OTC drugs), and Chemicals (high-value-added surface treatment chemicals for electronics and PCB manufacturing). The group also operates a Social Impact segment focused on regional revitalization and SDGs-related investments, primarily in the Noto region of Ishikawa Prefecture.

Market Cap
¥21.2B
US$135M
EV
¥30.5B
US$194M
Stock¥525▲+0.38%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.2
x
LTM EV/EBIT
9.3
x
LTM PER
8.3
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-12.6%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
21.2BUS$135MMarket Cap21.5BUS$137M+ Debt8.09BUS$51.6M− Cash4.53BUS$28.9M− Inv. Sec.0.37BUS$2.35M+ NCI30.5BUS$194MEV
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Performance & Balance
Revenue 5Y (¥B)
72.3US$461M'21/1149.6US$317M'22/1152.0US$332M'23/1158.0US$370M'24/1162.7US$400M'25/11
EBITDA 5Y (¥B)
4.06US$25.9M'21/112.94US$18.7M'22/113.34US$21.3M'23/115.12US$32.7M'24/115.44US$34.7M'25/11
Net Income 5Y (¥B)
1.74US$11.1M'21/110.58US$3.69M'22/111.16US$7.41M'23/11-2.53-US$16.1M'24/112.19US$14.0M'25/11
Capital Structure
57%
43%
EquityD/E 0.75xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
14.5US$92.7M15.1US$96.0M'21/1110.7US$68.5M14.9US$95.3M'22/1111.7US$74.8M16.9US$108M'23/1110.2US$65.3M15.0US$95.6M'24/1114.5US$92.4M22.6US$144M'25/11
Shareholders
Top 10 hold 35.4%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
11.05%
2
KI Co., Ltd.
4.99%
3
Employee Stock Ownership Association
4.26%
4
CNV Co., Ltd.
4.18%
5
Custody Bank of Japan, Ltd. (Trust Account)
2.38%
6
Osamu IWAKI
2.35%
7
Iwaki Foreign Student Scholarship Foundation (Public Interest Incorporated Foundation)
1.90%
8
日本マスタートラスト信託銀行株式会社(役員報酬BIP信託口)(注)1
1.65%
9
Keitaro IWAKI
1.59%
10
Chuo Kagaku Sangyo Co., Ltd.
1.09%
Management
10 officers
Satoshi SETOGUCHI
Representative Director, President
Apr 1995 Joined the Company Jun 2011 General Manager, iMed Division, the Company Feb 2015 General Manager, Corporate Planning Division, the Company Dec 2015 Director, Apros Co., Ltd. Feb 2017 Audit & Supervisory Board Member, Mertex Corporation Mar 2017 Executive Officer and General Manager, Corporate Planning Division, the Company Jun 2017 Executive Officer and General Manager, Management Administration Division, the Company Feb 2019 Director and General Manager, Management Administration Division, the Company Feb 2020 Director, Managing Executive Officer, General Manager, HBC & Food Business Division, concurrently General Manager, Cosmetic Raw Materials Division, the Company Jul 2020 Representative Director, Iwaki Bunkatsu Junbi Co., Ltd. (now Iwaki Co., Ltd.) Dec 2020 Director, Managing Executive Officer, General Manager, HBC & Food Business Division, the Company Dec 2020 Director, Marman H&B Co., Ltd. Jun 2021 Director and President, Iwaki Co., Ltd. Jan 2022 Managing Executive Officer, the Company Jan 2022 Chairman, Apros Co., Ltd. Feb 2022 Chairman, Marman H&B Co., Ltd. Feb 2022 Representative Director, President, Iwaki Co., Ltd. Dec 2022 Representative Director, Ainz Lab Co., Ltd. Feb 2023 Director, Mertex Corporation Feb 2023 Representative Director, Chairman, Iwaki Co., Ltd. Feb 2023 Director, Vice President, the Company Feb 2024 Representative Director, President, the Company Feb 2025 Representative Director, President, the Company; in charge of overall management, corporate planning, and financial planning Feb 2026 Representative Director, President, the Company (current)
1972-04-05
Keitaro IWAKI
Director
May 2002 Joined Accenture K.K. Apr 2005 Joined the Company Feb 2007 Director and General Manager, Pharmaceutical Division, the Company Feb 2009 Director, the Company Mar 2009 Vice President, Mertex Corporation Aug 2009 Representative Director, President, Mertex Corporation Feb 2015 Chairman, Mertex Corporation Feb 2015 Vice President and Director, the Company Dec 2015 Vice President and Director, the Company; General Manager, Food Business Division, concurrently General Manager, Administration Division Feb 2016 Representative Director, Vice President, General Manager, Food Business Division, the Company Jun 2016 Outside Director, Taiyo Holdings Co., Ltd. Jan 2017 Chairman, Iwaki Pharmaceutical Co., Ltd. (current) Feb 2017 Representative Director, President, General Manager, Food Business Division, the Company Dec 2017 Representative Director, President, General Manager, Administration Division, the Company Feb 2020 Representative Director, President, the Company Feb 2021 Representative Director, President and CEO, the Company Jan 2022 Representative Director, President, the Company Feb 2022 Representative Director, President, in charge of business strategy and finance, the Company Apr 2022 Chairman, Sperapharma Inc. May 2022 Representative Director, Chairman, Astena Minerva Co., Ltd. Oct 2022 Representative Director, President, Sperapharma Inc. (current) Dec 2022 Director, Speranexus Inc. Jan 2023 Director, Chairman, Iwaki Pharmaceutical Sakura Plant Co., Ltd. Feb 2023 Representative Director, Chairman, Iwaki Pharmaceutical Sakura Plant Co., Ltd. Feb 2023 Representative Director, President, in charge of business strategy and finance, concurrently in charge of pharmaceutical business, the Company Dec 2023 Chairman, Iwaki Pharmaceutical Sakura Plant Co., Ltd. (current) Dec 2023 Director, Astena Minerva Co., Ltd. Jan 2024 Trustee, Noto Peninsula Earthquake Evacuee Support Fund (current) Feb 2024 Director, in charge of Fine Chemicals Business and Pharmaceutical Business, the Company Feb 2024 Vice Chairman, Notonokuni Hyakunen-no-Hakari, General Incorporated Association (current) Apr 2024 Director, noto Imagine, General Incorporated Association (current) Jun 2024 Chairman, Iwaki Foreign Student Scholarship Foundation, Public Interest Incorporated Foundation (current) Feb 2025 Director, in charge of FC and Pharmaceutical Business Structural Reform and New Business, the Company Jul 2025 Representative Director, President, Speranexus Inc. (current) Feb 2026 Director, the Company (current)
1977-11-17
Yoshiyasu NINOMIYA
Director
Apr 1980 Joined Fujisawa Pharmaceutical Co., Ltd. (now Astellas Pharma Inc.) Feb 1993 Assistant to the CEO, Fujisawa USA, Inc. (U.S.) Jun 1998 President, Fujisawa Canada, Inc. (Canada) Mar 2002 Senior Advisor to Executive Vice President, International Sales & Marketing, AstraZeneca Global Headquarters (U.K.) Jan 2005 Director, Vice President, Primary Care Business Unit General Manager, AstraZeneca K.K. Oct 2008 Director, Senior Vice President, Commercial Division General Manager, Abbott Japan Co., Ltd. Nov 2009 President, Representative Director, AMO Japan Co., Ltd. (Abbott Medical Optics) Apr 2013 President, Representative Director, Novartis Pharma K.K. Jan 2015 Representative, Dynamic Consulting (current) Nov 2017 President, Representative Director, Innomedix Co., Ltd. (current) Nov 2017 Outside Director, Star Product Co., Ltd. (current) Feb 2019 Outside Director, the Company (current) Mar 2021 Outside Director, Dōjin Pharmaceutical Chemicals Co., Ltd. (current)
1957-12-15
Tsuneo NAGAI
Director
Sep 1997 Joined Nomura Research Institute, Ltd. Apr 2015 Representative Director, CEO, Ideal Leaders Co., Ltd. (current) Feb 2023 Outside Director, the Company (current)
1971-08-13
Mikiko NAGAI
Director
Apr 1996: Assigned to Ulaanbaatar, Mongolia as an expert, Japan International Cooperation Agency (JICA) Apr 2006: Joined United Nations University headquarters May 2009: Assigned to Bangkok, Thailand as an expert, Japan International Cooperation Agency (JICA) Apr 2014: Secretary General, Ishikawa-Kanazawa Operating Unit, Institute for the Advanced Study of Sustainability, United Nations University Apr 2017: Director, Ishikawa Natural History Resource Center, NPO (current) Mar 2019: Director, Universal Design Ishikawa, General Incorporated Association Jul 2021: Director, Kanazawa Rainbow Pride, General Incorporated Association May 2022: Representative Director, Hokuriku Mirai Foundation (formerly Hokuriku Mirai Fund Preparatory Committee) (current) Feb 2023: Outside Director of the Company (current) Apr 2023: Part-time Director, Inachi Gakuen School Corporation (current)
1968-10-29
Katsura SATO
Director
Oct 1986 Joined Aoyama Audit Corporation Mar 1990 Registered as Certified Public Accountant Jun 1997 Full-time Audit & Supervisory Board Member, SoftBank Corp. (now SoftBank Group Corp.) Dec 2000 Director, General Manager of Finance & Accounting, SoftBank Commerce Corp. (now SoftBank Corp.) Aug 2002 Outside Director, Gungho Online Entertainment, Inc. Apr 2004 General Manager, Administration Division and Head of Related Business Division, SoftBank BB Corp. (now SoftBank Corp.) May 2007 Representative, Katsura Sato Office (current) Jun 2007 Outside Director, Vector Inc. (now Vector Holdings Inc.) Jun 2008 Outside Audit & Supervisory Board Member, Carview Inc. Mar 2012 Outside Audit & Supervisory Board Member, Creative Link Inc. (current) Aug 2012 Outside Audit & Supervisory Board Member, CAVE Interactive Co., Ltd. Jun 2015 Outside Audit & Supervisory Board Member, SBI Securities Co., Ltd. (current) Dec 2016 Outside Director, BizMobile Inc. (now IoT-EX Inc.) (current) Dec 2017 Outside Director, De Facto Standard Inc. Dec 2017 Outside Director, gooddays Holdings Inc. Mar 2019 Auditor, Tokyo Gakugei University Explayground Promotion Organization, General Incorporated Association (current) Aug 2019 Outside Director and Audit and Supervisory Committee Member, CAVE Interactive Co., Ltd. Apr 2021 Director, IP Bridge Inc. (current) Apr 2021 Outside Director, I Holdings Inc. (current) Feb 2024 Outside Director, the Company (current)
1964-03-04
Toshimitsu ISOBE
Full-time Audit and Supervisory Board Member
Apr 1979 Joined the Company Jun 2008 General Manager, Planning, Pharmanet Sales Division, the Company Jun 2009 General Manager, Logistics Management Division, the Company Feb 2015 Full-time Audit & Supervisory Board Member, Iwaki Pharmaceutical Co., Ltd. Feb 2019 Audit & Supervisory Board Member, Iwaki Pharmaceutical Co., Ltd. (current) Feb 2019 Full-time Audit and Supervisory Board Member, the Company (current) Mar 2020 Audit & Supervisory Board Member, Sperapharma Inc. (current) Jul 2020 Audit & Supervisory Board Member, Iwaki Pharmaceutical Sakura Plant Co., Ltd. (current) Apr 2021 Audit & Supervisory Board Member, JITSUBO Co., Ltd. (current) Jun 2021 Audit & Supervisory Board Member, Speranexus Inc. (current)
1956-03-07
Hiroyuki WATANABE
Full-time Audit and Supervisory Board Member
Apr 1983 Joined Mertex Corporation Jun 2005 General Manager, Planning Office, Mertex Corporation Jun 2006 General Manager, Research Division, Mertex Corporation Aug 2006 Director, General Manager, Research Division, Mertex Corporation Aug 2008 Managing Director, General Manager, Technology Research Institute, concurrently General Manager, Research Division, Mertex Corporation Jun 2009 Managing Director, General Manager, Research Division, Mertex Corporation Dec 2009 Managing Director, Mertex Corporation Jun 2015 Managing Director, General Manager, Administration Division, Mertex Corporation Dec 2015 Managing Director, General Manager, Technology Development Division, Mertex Corporation Dec 2016 Managing Director, Mertex Corporation Feb 2018 Audit & Supervisory Board Member, the Company Feb 2019 Senior Executive Officer, General Manager, Operations Division, the Company Feb 2020 Managing Executive Officer, General Manager, Operations Division, the Company Feb 2021 Managing Executive Officer, General Manager, Operations Division, concurrently in charge of Administration Division, the Company Jun 2021 Managing Executive Officer, General Manager, Administration Division, the Company Dec 2021 Audit & Supervisory Board Member, Astena Minerva Co., Ltd. (current) Jan 2022 Managing Executive Officer, in charge of Governance, the Company Jan 2023 Audit & Supervisory Board Member, Apros Co., Ltd. (current) Feb 2023 Audit & Supervisory Board Member, Mertex Corporation (current) Feb 2023 Audit & Supervisory Board Member, Iwaki Co., Ltd. (current) Feb 2023 Audit & Supervisory Board Member, Marman H&B Co., Ltd. (current) Feb 2023 Full-time Audit and Supervisory Board Member, the Company (current) Feb 2023 Audit & Supervisory Board Member, Ainz Lab Co., Ltd. (current) Mar 2025 Audit & Supervisory Board Member, NAIA Co., Ltd. (current) Sep 2025 Audit & Supervisory Board Member, Ikeda Sangyo Co., Ltd. (current) Sep 2025 Audit & Supervisory Board Member, Ikeda Bussan Co., Ltd. (current) Sep 2025 Innovation Co., Ltd. (current)
1956-05-14
Takuji AKIYAMA
Audit and Supervisory Board Member
Mar 1982 Joined Tohmatsu & Aoki Audit Corporation (now Deloitte Touche Tohmatsu LLC) Apr 1986 Registered as Certified Public Accountant Sep 2018 Representative, Takuji Akiyama CPA Office (current) Feb 2019 Outside Audit & Supervisory Board Member, the Company (current) Feb 2019 Director and Audit and Supervisory Committee Member, Acom Co., Ltd. (current)
1958-02-17
Kazunori FURUKAWA
Audit and Supervisory Board Member
Apr 1989 Joined Mitsubishi Trust Bank, Limited (now Mitsubishi UFJ Trust and Banking Corporation) Oct 1995 Passed the Second Stage of the Japanese CPA Examination Oct 2002 Passed the Japanese Bar Examination Mar 2003 Left Mitsubishi Trust Bank, Limited (now Mitsubishi UFJ Trust and Banking Corporation) Aug 2004 Passed the Third Stage of the Japanese CPA Examination Dec 2004 Registered as Attorney at Law (Tokyo Bar Association); joined City-Yuwa Partners Jan 2016 Partner, City-Yuwa Partners (current) May 2017 Substitute Supervisory Officer, SIA Real Estate Investment Trust Inc. (now One REIT, Inc.) Feb 2023 Outside Audit & Supervisory Board Member, the Company (current) May 2023 Supervisory Officer, One REIT, Inc. (current)
1965-04-09
Large Shareholding Reports
Mitsubishi UFJ Trust and Banking Corporation
2025-10-20
1.57%→1.67%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-10-13
Q3 Earnings Flash
FY ending Nov 2026
EDINET
2026-07-13
Semi-Annual Securities Report
Period: Dec 2025 – Nov 2026
TDnet
2026-07-13
Q2 Earnings Flash
FY ending Nov 2026
TDnet
2026-04-13
Q1 Earnings Flash
FY ending Nov 2026
EDINET
2026-02-25
Annual Securities Report
Period: Dec 2024 – Nov 2025
EDINET
2025-10-20
Large Shareholding Report
TDnet
2025-10-10
Q3 Earnings Flash
FY ending Nov 2025
EDINET
2025-07-11
Semi-Annual Securities Report
Period: Dec 2024 – Nov 2025
TDnet
2025-04-11
Q1 Earnings Flash
FY ending Nov 2025
EDINET
2025-02-27
Annual Securities Report
Period: Dec 2023 – Nov 2024
EDINET
2024-07-12
Quarterly Securities Report
Period: Mar 2024 – May 2024
EDINET
2024-04-12
Quarterly Securities Report
Period: Dec 2023 – Feb 2024
EDINET
2024-02-28
Annual Securities Report
Period: Dec 2022 – Nov 2023
EDINETAmended
2024-01-25
Amended Annual Securities Report
Period: Dec 2021 – Nov 2022
EDINET
2023-10-13
Quarterly Securities Report
Period: Jun 2023 – Aug 2023
EDINET
2023-07-13
Quarterly Securities Report
Period: Mar 2023 – May 2023
EDINET
2023-04-14
Quarterly Securities Report
Period: Dec 2022 – Feb 2023
EDINET
2023-02-22
Annual Securities Report
Period: Dec 2021 – Nov 2022
EDINET
2022-10-12
Quarterly Securities Report
EDINET
2022-07-13
Quarterly Securities Report
EDINET
2022-04-13
Quarterly Securities Report
EDINET
2022-02-25
Annual Securities Report
EDINET
2021-10-13
Quarterly Securities Report
EDINET
2021-07-09
Quarterly Securities Report
EDINET
2021-04-09
Quarterly Securities Report
EDINET
2021-02-24
Annual Securities Report
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