DISCLAIMER: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
January 13, 2026
Company name: Astena Holdings Co.,Ltd. Listing: Tokyo Stock Exchange
Securities code: 8095
URL: https://www.astena-hd.com
Representative: Satoshi Setoguchi, President&CEO Inquiries: Isamu Kamiyama, General Manager
Telephone: +81-3-3279-0481
Scheduled date of annual general meeting of shareholders: February 26, 2026 Scheduled date to commence dividend payments: February 27, 2026
Scheduled date to file annual securities report: February 25, 2026
Preparation of supplementary material on financial results: Yes
Holding of financial results briefing: Yes (for institutional investors and analysts)
(Yen amounts are rounded down to millions, unless otherwise noted.)
-
Consolidated financial results for the fiscal year ended November 30, 2025 (from December 1, 2024 to November 30, 2025)
-
Consolidated operating results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Fiscal year ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
November 30, 2025
62,744
8.2
3,017
7.2
2,910
3.8
2,187
-
November 30, 2024
57,993
11.6
2,815
149.6
2,804
105.6
(2,525)
-
Note: Comprehensive income For the fiscal year ended November 30, 2025:
¥2,613 million
[-%]
For the fiscal year ended November 30, 2024:
¥(2,600) million
[-%]
Basic earnings per share
Diluted earnings per share
Return on equity
Ratio of ordinary profit to total assets
Ratio of operating profit to net sales
Fiscal year ended
Yen
Yen
%
%
%
November 30, 2025
54.23
-
8.4
4.2
4.8
November 30, 2024
(63.18)
-
(9.4)
4.3
4.9
Reference: Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended November 30, 2025: ¥40 million
For the fiscal year ended November 30, 2024: ¥17 million
-
Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
Net assets per share
As of
Millions of yen
Millions of yen
%
Yen
November 30, 2025
75,441
27,397
35.9
671.41
November 30, 2024
64,595
25,302
39.0
625.15
Reference: Equity
As of November 30, 2025: ¥27,099 million
As of November 30, 2024: ¥25,165 million
- Consolidated cash flows
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at end of period
Fiscal year ended
Millions of yen
Millions of yen
Millions of yen
Millions of yen
November 30, 2025
3,393
(5,557)
6,202
10,067
November 30, 2024
4,848
(2,937)
(2,651)
5,978
-
Consolidated operating results (Percentages indicate year-on-year changes.)
-
Cash dividends
Annual dividends per share
Total cash dividends (Total)
Payout ratio (Consolidated)
Ratio of dividends to net assets (Consolidated)
First quarter-end
Second quarter-end
Third quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Millions of yen
%
%
Fiscal year ended
November 30, 2024
-
9.00
-
9.00
18.00
736
-
2.7
Fiscal year ended November 30, 2025
-
9.00
-
9.00
18.00
738
33.2
2.8
Fiscal year ending November 30, 2026 (Forecast)
9.00
9.00
18.00
30.9
- Forecast of consolidated financial results for the fiscal year ending November 30, 2026 (from December 1, 2025 to November 30, 2026)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Six months ending May 31, 2026 | 33,000 | 9.6 | 1,600 | (28.0) | 1,550 | (27.9) | 1,150 | (10.7) | 28.49 |
Fiscal year ending November 30, 2026 | 68,000 | 8.4 | 3,400 | 12.7 | 3,300 | 13.4 | 2,350 | 7.5 | 58.22 |
Significant changes in the scope of consolidation during the period: Yes
Newly included: 4 companies (Ikeda Bussan Co., Ltd., Ikeda Sangyo Co., Ltd., Innovation Co., Ltd., Ikeda Corporation of America)
Changes in accounting policies, changes in accounting estimates, and restatement
Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
Changes in accounting policies due to other reasons: None
Changes in accounting estimates: None
Restatement: None
Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of November 30, 2025
41,097,566 shares
As of November 30, 2024
40,982,832 shares
Number of treasury shares at the end of the period
As of November 30, 2025
736,281 shares
As of November 30, 2024
727,248 shares
Average number of shares outstanding during the period
Fiscal year ended November 30, 2025 | 40,331,272 shares |
Fiscal year ended November 30, 2024 | 39,969,764 shares |
Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.
Proper use of earnings forecasts, and other special matters
The above forecasts are based on information available as of the date of this release and assumptions such as forecasts of the future economic environment, and actual results may differ from the forecasts due to various factors in the future. For more information, see "1. Please refer to "Summary of Business Results (4) Future Outlook".
(Changing the display unit of the amount)
The amounts of items and other matters listed in the Company's consolidated financial statements were previously stated in units of 1 thousand yen, but have been changed to units of 1,000 thousand yen from the current fiscal year. In order to facilitate comparison, the previous fiscal year has also been changed to millions of yen.
Consolidated balance sheet(Millions of yen)
As of November 30, 2024 | As of November 30, 2025 | |
Assets | ||
Current assets | ||
Cash and deposits | 6,101 | 10,190 |
Notes and accounts receivable - trade, and contract assets | 16,703 | 18,858 |
Electronically recorded monetary claims - operating | 4,643 | 4,066 |
Merchandise and finished goods | 6,136 | 8,041 |
Work in process | 1,866 | 1,650 |
Raw materials and supplies | 2,403 | 2,514 |
Other | 1,295 | 2,038 |
Allowance for doubtful accounts | (8) | (21) |
Total current assets | 39,141 | 47,339 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures | 10,560 | 10,910 |
Accumulated depreciation | (6,723) | (7,024) |
Buildings and structures, net | 3,837 | 3,885 |
Machinery, equipment and vehicles | 10,994 | 11,937 |
Accumulated depreciation | (9,045) | (9,446) |
Machinery, equipment and vehicles, net | 1,949 | 2,491 |
Tools, furniture and fixtures | 4,454 | 5,088 |
Accumulated depreciation | (3,166) | (3,601) |
Tools, furniture and fixtures, net | 1,288 | 1,486 |
Land | 2,447 | 2,614 |
Leased assets | 355 | 384 |
Accumulated depreciation | (224) | (191) |
Leased assets, net | 130 | 192 |
Construction in progress | 2,266 | 2,620 |
Total property, plant and equipment | 11,920 | 13,291 |
Intangible assets | ||
Software | 715 | 680 |
Goodwill | 3,752 | 4,755 |
Technical assets | 439 | 404 |
Customer relationship | 1,617 | 1,412 |
Other | 370 | 385 |
Total intangible assets | 6,893 | 7,638 |
Investments and other assets | ||
Investment securities | 4,137 | 4,291 |
Retirement benefit asset | 1,071 | 1,539 |
Deferred tax assets | 960 | 517 |
Other | 494 | 848 |
Allowance for doubtful accounts | (23) | (24) |
Total investments and other assets | 6,639 | 7,172 |
Total non-current assets | 25,453 | 28,102 |
Deferred assets | ||
Organization expenses | 0 | 0 |
Total deferred assets | 0 | 0 |
Total assets | 64,595 | 75,441 |
(Millions of yen)
As of November 30, 2024 | As of November 30, 2025 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 9,272 | 9,551 |
Electronically recorded obligations - operating | 4,339 | 5,056 |
Short-term borrowings | 11,390 | 16,195 |
Accrued expenses | 3,166 | 3,493 |
Income taxes payable | 732 | 853 |
Provision for bonuses | 684 | 815 |
Provision for product warranties | 58 | 23 |
Provision for loss on disaster | 14 | - |
Other | 2,243 | 2,084 |
Total current liabilities | 31,903 | 38,074 |
Non-current liabilities | ||
Long-term borrowings | 3,445 | 6,250 |
Lease liabilities | 86 | 141 |
Deferred tax liabilities | 909 | 309 |
Provision for share-based payments | 105 | 137 |
Retirement benefit liability | 2,403 | 2,306 |
Other | 439 | 823 |
Total non-current liabilities | 7,389 | 9,969 |
Total liabilities | 39,293 | 48,043 |
Net assets | ||
Shareholders' equity | ||
Share capital | 4,605 | 4,629 |
Capital surplus | 6,320 | 6,344 |
Retained earnings | 12,229 | 13,680 |
Treasury shares | (255) | (255) |
Total shareholders' equity | 22,900 | 24,399 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 1,388 | 1,438 |
Deferred gains or losses on hedges | (2) | 0 |
Foreign currency translation adjustment | 319 | 458 |
Remeasurements of defined benefit plans | 560 | 803 |
Total accumulated other comprehensive income | 2,265 | 2,699 |
Non-controlling interests | 136 | 298 |
Total net assets | 25,302 | 27,397 |
Total liabilities and net assets | 64,595 | 75,441 |
(Millions of yen)
Fiscal year ended November 30, 2024 | Fiscal year ended November 30, 2025 | |
Net sales | 57,993 | 62,744 |
Cost of sales | 38,623 | 40,877 |
Gross profit | 19,369 | 21,866 |
Selling, general and administrative expenses | 16,553 | 18,848 |
Operating profit | 2,815 | 3,017 |
Non-operating income | ||
Interest and dividend income | 63 | 64 |
Share of profit of entities accounted for using equity method | 17 | 40 |
Administrative service fee income | 1 | 66 |
Other | 137 | 144 |
Total non-operating income | 220 | 316 |
Non-operating expenses | ||
Interest expenses | 75 | 169 |
Commission for syndicated loans | 12 | 51 |
Office relocation expenses | 38 | - |
Compensation for damage | - | 101 |
Foreign exchange losses | 34 | 14 |
Other | 70 | 86 |
Total non-operating expenses | 231 | 424 |
Ordinary profit | 2,804 | 2,910 |
Extraordinary income | ||
Gain on sale of non-current assets | 0 | 2 |
Gain on sale of investment securities | 315 | 270 |
Total extraordinary income | 316 | 272 |
Extraordinary losses | ||
Loss on sale of non-current assets | - | 3 |
Loss on disposal of non-current assets | 158 | 104 |
Loss on sale of investment securities | - | 32 |
Loss on valuation of investment securities | 246 | - |
Impairment losses | 4,100 | 139 |
Loss on disaster | 38 | - |
Business restructuring expenses | 109 | 39 |
Total extraordinary losses | 4,653 | 319 |
Profit (loss) before income taxes | (1,533) | 2,864 |
Income taxes - current | 973 | 975 |
Income taxes - deferred | 31 | (290) |
Total income taxes | 1,004 | 685 |
Profit (loss) | (2,537) | 2,179 |
Loss attributable to non-controlling interests | (12) | (7) |
Profit (loss) attributable to owners of parent | (2,525) | 2,187 |
(Millions of yen)
Fiscal year ended November 30, 2024 | Fiscal year ended November 30, 2025 | |
Profit (loss) | (2,537) | 2,179 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | (313) | 50 |
Deferred gains or losses on hedges | (2) | 3 |
Foreign currency translation adjustment | 48 | 139 |
Remeasurements of defined benefit plans, net of tax | 206 | 242 |
Share of other comprehensive income of entities accounted for using equity method | (0) | (0) |
Total other comprehensive income | (62) | 433 |
Comprehensive income | (2,600) | 2,613 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | (2,588) | 2,621 |
Comprehensive income attributable to non-controlling interests | (12) | (7) |
(Millions of yen)
Shareholders' equity | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | |
Balance at beginning of period | 4,581 | 6,574 | 15,462 | (525) | 26,091 |
Changes during period | |||||
Issuance of new shares | 23 | 23 | 47 | ||
Dividends of surplus | (729) | (729) | |||
Profit (loss) attributable to owners of parent | (2,525) | (2,525) | |||
Purchase of treasury shares | (7) | (7) | |||
Disposal of treasury shares | (277) | 278 | 0 | ||
Change in ownership interest of parent due to transactions with non-controlling interests | 0 | 0 | |||
Increase (decrease) in retained earnings resulting from exclusion of subsidiaries from consolidation | 22 | 22 | |||
Net changes in items other than shareholders' equity | |||||
Total changes during period | 23 | (253) | (3,232) | 270 | (3,191) |
Balance at end of period | 4,605 | 6,320 | 12,229 | (255) | 22,900 |
Accumulated other comprehensive income | Non-controlling interests | Total net assets | |||||
Valuation difference on available-for-sale securities | Deferred gains or losses on hedges | Foreign currency translation adjustment | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | |||
Balance at beginning of period | 1,703 | (0) | 271 | 354 | 2,328 | 181 | 28,601 |
Changes during period | |||||||
Issuance of new shares | 47 | ||||||
Dividends of surplus | (729) | ||||||
Profit (loss) attributable to owners of parent | (2,525) | ||||||
Purchase of treasury shares | (7) | ||||||
Disposal of treasury shares | 0 | ||||||
Change in ownership interest of parent due to transactions with non-controlling interests | 0 | ||||||
Increase (decrease) in retained earnings resulting from exclusion of subsidiaries from consolidation | 22 | ||||||
Net changes in items other than shareholders' equity | (314) | (2) | 48 | 206 | (62) | (45) | (107) |
Total changes during period | (314) | (2) | 48 | 206 | (62) | (45) | (3,299) |
Balance at end of period | 1,388 | (2) | 319 | 560 | 2,265 | 136 | 25,302 |
(Millions of yen)
Shareholders' equity | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | |
Balance at beginning of period | 4,605 | 6,320 | 12,229 | (255) | 22,900 |
Changes during period | |||||
Issuance of new shares | 24 | 24 | 49 | ||
Dividends of surplus | (737) | (737) | |||
Profit (loss) attributable to owners of parent | 2,187 | 2,187 | |||
Purchase of treasury shares | (0) | (0) | |||
Disposal of treasury shares | |||||
Change in ownership interest of parent due to transactions with non-controlling interests | (1) | 1 | - | ||
Increase (decrease) in retained earnings resulting from exclusion of subsidiaries from consolidation | |||||
Net changes in items other than shareholders' equity | |||||
Total changes during period | 24 | 23 | 1,450 | (0) | 1,499 |
Balance at end of period | 4,629 | 6,344 | 13,680 | (255) | 24,399 |
Accumulated other comprehensive income | Non-controlling interests | Total net assets | |||||
Valuation difference on available-for-sale securities | Deferred gains or losses on hedges | Foreign currency translation adjustment | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | |||
Balance at beginning of period | 1,388 | (2) | 319 | 560 | 2,265 | 136 | 25,302 |
Changes during period | |||||||
Issuance of new shares | - | 49 | |||||
Dividends of surplus | - | (737) | |||||
Profit (loss) attributable to owners of parent | - | 2,187 | |||||
Purchase of treasury shares | - | (0) | |||||
Disposal of treasury shares | |||||||
Change in ownership interest of parent due to transactions with non-controlling interests | - | - | |||||
Increase (decrease) in retained earnings resulting from exclusion of subsidiaries from consolidation | |||||||
Net changes in items other than shareholders' equity | 49 | 3 | 139 | 242 | 433 | 162 | 596 |
Total changes during period | 49 | 3 | 139 | 242 | 433 | 162 | 2,095 |
Balance at end of period | 1,438 | 0 | 458 | 803 | 2,699 | 298 | 27,397 |
(Millions of yen)
Fiscal year ended November 30, 2024 | Fiscal year ended November 30, 2025 | |
Cash flows from operating activities | ||
Profit (loss) before income taxes | (1,533) | 2,864 |
Depreciation | 2,306 | 2,427 |
Share-based payment expenses | 48 | 68 |
Impairment losses | 4,100 | 139 |
Increase (decrease) in allowance for doubtful accounts | (2) | 9 |
Increase (decrease) in provision for bonuses | 55 | 39 |
Increase (decrease) in provision for product warranties | 52 | (35) |
Increase (decrease) in retirement benefit liability | 38 | 79 |
Interest and dividend income | (63) | (64) |
Interest expenses | 75 | 169 |
Share of loss (profit) of entities accounted for using equity method | (17) | (40) |
Business restructuring expenses | 109 | 39 |
Foreign exchange losses (gains) | 1 | (14) |
Loss on disposal of non-current assets | 158 | 104 |
Loss (gain) on sale of non-current assets | (0) | 1 |
Loss (gain) on sale of investment securities | (315) | (238) |
Loss (gain) on valuation of investment securities | 246 | - |
Loss on disaster | 38 | - |
Decrease (increase) in accounts receivable - trade, and contract assets | (2,128) | 487 |
Decrease (increase) in inventories | 383 | (826) |
Increase (decrease) in trade payables | 1,524 | (140) |
Increase (decrease) in accrued expenses | 629 | (111) |
Compensation for damages | - | 101 |
Other, net | 25 | (487) |
Subtotal | 5,733 | 4,572 |
Interest and dividends received | 63 | 64 |
Interest paid | (74) | (157) |
Compensation paid for damage | - | (101) |
Income taxes paid | (894) | (1,073) |
Income taxes refund | 19 | 89 |
Net cash provided by (used in) operating activities | 4,848 | 3,393 |
(Millions of yen)
Fiscal year ended November 30, 2024 | Fiscal year ended November 30, 2025 | |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (2,840) | (2,893) |
Proceeds from sale of property, plant and equipment | 1 | 3 |
Purchase of intangible assets | (357) | (282) |
Purchase of investment securities | (153) | (179) |
Proceeds from sale of investment securities | 480 | 503 |
Subsidies received | 14 | - |
Purchase of shares of subsidiaries resulting in change in scope of consolidation | - | (2,629) |
Proceeds from maturity of insurance funds | 8 | - |
Other, net | (91) | (77) |
Net cash provided by (used in) investing activities | (2,937) | (5,557) |
Cash flows from financing activities | ||
Net increase (decrease) in short-term borrowings | (718) | 3,576 |
Proceeds from long-term borrowings | - | 5,000 |
Repayments of long-term borrowings | (1,197) | (1,585) |
Repayments of finance lease liabilities | (77) | (62) |
Proceeds from share issuance to non-controlling shareholders | 76 | 10 |
Dividends paid | (727) | (735) |
Purchase of treasury shares | (6) | (0) |
Net cash provided by (used in) financing activities | (2,651) | 6,202 |
Effect of exchange rate change on cash and cash equivalents | 0 | 50 |
Net increase (decrease) in cash and cash equivalents | (739) | 4,089 |
Cash and cash equivalents at beginning of period | 6,758 | 5,978 |
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation | (40) | - |
Cash and cash equivalents at end of period | 5,978 | 10,067 |