Financial Results for

3Q(Nine months) of FYE 3/2021
February 10th, 2021
STELLA CHEMIFA CORPORATION
Securities code: 4109

Index【Financial Results】【Reference Material】（Corporate Profile ・ Introduction of Our Business）

・Performance Highlights

P. 3

・Corporate Profile

P. 17

・Financial Summary

P. 4－11・Subsidiaries & Associates

P. 18

・Financial Forecast

P. 12－14

・Introduction of Our BusinessP. 19－33

・Shareholder Return

P. 15

2

Performance Highlights[3Q(Nine months) of FYE 3/2021 Results]
 Semiconductors and LCDs saw increased shipments to domestic
market and other areas including Taiwan, albeit with lower
shipments to South Korea.
 Shipments of enriched boron (10B) used by nuclear energy-related
facilities contributed to the profit.
 Profitability improved in the Medical Business owing to the launchof sales of pharmaceuticals and curbed expenses.
[Full-year Forecast] Business environment remains strong mainly in Semiconductors
and LCDs business.
 Price of anhydrous hydrofluoric acid(AHF) has started to rise since
the end of 2020 although it remained at low level in 3Q.
3Financial Summary
3Q(Nine months)of FYE 3/2021

Increase/
Decrease

Percentage
Increase/
Decrease

24,731

24,927196

0.8

Gross Profit

4,843

6,022

1,178

24.3

Operating Profit

1,649

2,902

1,252

75.9

Ordinary Profit

1,611

2,763

1,152

71.5

Quarterly Profit Attributable to
Owners of Parent

1,094

1,975

881

80.5

Earnings Per Share (yen)84.76

153.99

Capital Expenditures

2,652

1,245

－1,406－53.0

Depreciation & Amortization

2,426

2,296

－130

－5.4

Research & Development Expenses

1,121

587

－534

－47.6

(million yen)
Sales Revenue

3Q(Nine months)of FYE 3/2020

4

Sales Revenue and Operating Profit
by Business Segment
Sales Revenue(million yen)
High-Purity
ChemicalBusiness
Transportation
Business
MedicalBusiness

Other

Eliminations andCorporate

Total

Operating Profit
Increase/
Decrease

3Q(Nine months)of FYE 3/2020

3Q(Nine months)of FYE 3/2021

Amount21,24921,6193,293

Increase/
Decrease％

3Q(Nine months)of FYE 3/2020

3Q(Nine months)of FYE 3/2021

Amount

％

370

1.7

2,008

3,041

1,032

51.4

2,985

－307

－9.3

379

421

42

11.1

-

155

155

-

－768

－482

285

-

188

166

－22

－11.8

24

17

－7

－31.1

-

-

-

-

5

－94

－100

-

24,731

24,927

196

0.8

1,649

2,902

1,252

75.9
5

Sales Revenue of High-Purity
Chemical Business (Breakdown)(million yen)

3Q
(Nine months)of FYE 3/2020

Surface Treatment

1,135

3Q
(Nine months)of FYE 3/2021

Increase/
Decrease

Percentage
Increase/
Decrease

722

－412

－36.4

3,324

323

10.8

Batteries

1,933

1,659

－273

－14.2

Semiconductors/
LCDs

11,908

12,214305

2.6

Semiconductor
Devices

330

519

188

56.9

701

634

－67

－9.6

Gypsum

126

146

19

15.4

General Products

1,377

1,688

311

22.6

732

709

－23

－3.2

Total

21,249General

CFCs

13%

15%

Products

3,001

Other

Alternatives for

Other

Alternatives for
CFCs

Catalysts

Sales Revenue Constituent Ratioof High-Purity Chemicals

21,619

370

1.7

8%

Batteries

Sales Revenue
21.61 billion Yen（Abroad 53.7%）

8%

Semiconductors/LCDs
56%

Semiconductors/LCDs Shipping Ratio by Country
100%

Other
Singapore
TaiwanSouth Korea
Japan
3Q(Nine months) 3Q(Nine months)of FYE 3/2020

of FYE 3/2021

6

Analysis of Operating Profit（Year on year）
Including reduction of loss in
Medical Business (+)(million yen)

Including increased shipments of
Semiconductors/LCDs Business andenriched boron for nuclear use (+)

2,902
Lower selling prices (－)
Lower raw material prices (+)

1,649

High-Purity Chemical Business ＋1,032

7

Change of Quarterly Operating Profit(million yen)
1,400

1,209

1,116

1,200
1,000

949

884

847
727

800

653

636

902

757

600

400

148

200
0

FYE 3/2019

FYE 3/2020

FYE 3/2021

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

Sales
Revenue

10,134

9,323

9,275

9,649

9,733

7,406

7,591

8,998

8,222

8,389

8,315

Operating
Profit

949

1,209

727

636

847

148

653

757

884

902

1,116

Operating
Profit Margin

9.4%

13.0%

7.8%

6.6%

8.7%

2.0%

8.6%

8.4%

10.8%

10.8%

13.4%

4Q

8

Transitions in Trade Statistics Value ofAnhydrous Hydrofluoric Acid
( yen/kg )
300

250

200

150

100
1Q

(yen/kg)
Average
Price

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

FYE 3/2017

FYE 3/2018

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2017

FYE 3/2018

FYE 3/2019

FYE 3/2020

FYE 3/2021

135

209

220

186

163

Source: Prepared by our company based on the Ministry of Finance’s “Trade Statistics of Japan” (http://www.customs.go.jp/toukei/info/)9

Change of Shipping Volume of High-Purity
Hydrofluoric Acid (Semiconductors and LCDs)(t)
100,000

Full-year 94,100

90,000Full-year 83,400

80,00070,000Full-year 66,100

Total (1～3Q)

2nd Half 43,700

60,00050,000

2nd Half 48,400

Full-year 69,300

53,400
2nd Half 32,700

2nd Half 34,800

3Q(Three months)
18,00040,00030,00020,000

1st Half 31,300

1st Half 39,700

1st Half 45,700
1st Half 36,600

1st Half 35,400

FYE 3/2020

FYE 3/2021

10,0000

FYE 3/2017

FYE 3/2018

FYE 3/201910

Balance Sheet

Dec.31,2020

Increase/
Decrease

Percentage
Increase/
Decrease

53,21652,064－1,152－2.2

13,591

13,786194

1.4

Operating receivables

8,137

9,559

1,421

17.5

Inventory assets

5,495

4,658

－837

－15.2

22,794

21,719－1,075

－4.7

655

547

－107

－16.4

18,487

16,306－2,181

－11.8

3,310

2,929

－380

－11.5

Interest-bearing liabilities

11,184

9,439－1,745－15.6

Net Assets

34,72935,7581,029

3.0

Equity capital

34,03335,153

1,119

3.3

Liabilities and Net Assets

53,21652,064－1,152－2.2

FYE 3/2020
End-of-Year

AssetsCash and deposits(million yen)

Property, plant, and equipment

Intangible assets
Liabilities
Operating liabilities

11Financial Forecast＊Released on Nov.6.2020
FYE 3/2021
Initial Forecast

FYE 3/2021
Revised Forecast*

Increase/
Decrease

Percentage
Increase/
Decrease

FYE 3/2020
ActualSales Revenue

33,30032,200－1,100－3.3

33,729Operating Profit

1,900

3,150

1,250

65.8

2,407

Ordinary Profit

1,950

3,100

1,150

59.0

2,307

Profit Attributable to Owners of
Parent

1,400

2,150

750

53.6

1,924

108.41167.61Dividend (yen)

45

45

-

-

45

ROE (%)

4.0

6.2

2.2

55.0

5.8

Capital Expenditures

2,250

1,950

－300

－13.3

3,694

Depreciation & Amortization

3,130

3,020

－110

－3.5

3,236

Research & Development
Expenses

1,560

870

－690

－44.2

1,513

(million yen)

Earnings Per Share (yen)149.0012Forecast on Sales Revenue andOperating Profit by Business Segment＊Released on Nov.6.2020

Sales Revenue

Operating Profit

FYE 3/2021
InitialForecast

FYE 3/2021
Revised
Forecast*

Percentage
Increase/
Decrease

FYE 3/2020
ActualFYE 3/2021
InitialForecast

FYE 3/2021
Revised
Forecast*

Percentage
Increase/
Decrease

FYE 3/2020
Actual

28,67027,880－2.8

29,058

2,420

3,500

44.6

2,897

4,420

3,900

－11.8

4,429

510

490

－3.9

502

-

200

-

-

－1,050－760-－1,035

210

220

4.8

241

20

20

-

36

-

-

-

-

-

－100

-

7

33,30032,200－3.3

33,729

1,900

3,150

65.8

2,407

(million yen)

High-Purity
ChemicalBusiness
Transportation
Business
MedicalBusiness

Other

Eliminations andCorporate

Total

13

Forecast on Sales Revenue of High-Purity
Chemical Business (Breakdown)＊Released on Nov.6.2020
FYE 3/2021
Initial Forecast

FYE 3/2021
Revised Forecast*

Increase/
Decrease

Percentage
Increase/
Decrease

FYE 3/2020
ActualSurface Treatment

1,300

900

－400

－30.8

1,525

Alternatives for
CFCs

4,500

4,200

－300

－6.7

4,872

Batteries

2,290

1,980

－310

－13.5

2,576

Semiconductors/
LCDs

15,70016,300600

3.8

15,687

Semiconductor
Devices

460

650

190

41.3

446

Catalysts

900

780

－120

－13.3

925

Gypsum

160

160

-

-

201

General Products

2,590

2,060

－530

－20.5

1,835

Other

770

850

80

10.4

988

28,67027,880－790－2.8

29,058(million yen)

Total

14

Shareholder Return
Stella Chemifa’s basic policy is to provide stable and continuous dividend payments, giving comprehensive
consideration to factors including its financial condition and profit level. Retained earnings will be allocatedto capital investment and R&D investment, and will be proactively utilized for future business development
to enhance corporate value.

 FYE 3/2020

 Annual dividend: 45 yen per share FYE 3/2021

 Annual dividend forecast: 45 yen per share The Company repurchased 100,000 of its own shares,
worth 260 million yen, in the first half of the current fiscal year.

65

50.0

40.8

60
Annual dividends(yen per share)
55

24.7

Dividend payout
50 ratio (%)
45

30.0

17.5

20.0

40
35

40.0

30.2

41

41

45

30

45

45

10.0

0.0

FYE 3/2017

FYE 3/2018

FYE 3/2019

FYE 3/2020 FYE 3/2021 (Forecast)15

Reference Material（Corporate Profile ・ Introduction of Our Business）

Corporate Profile(as of December 31, 2020)
Corporate NameSTELLA CHEMIFA CORPORATIONHead Of f ice

Meiji Yasuda Seimei Osaka Midosuji Bldg. 10F,
4-1-1 Fushimi-machi, Chuo-ku, Osaka City, Osaka

Founded/EstablishedFebruary 1916 / February 1944

Capital Fund

4,829,782,512 yen

Representatives

Representative Director, President and Chief Executive Officer: Aki Hashimoto
Representative Director, Senior Managing Executive Officer(Products Management Group): Kiyonori Saka

U

R

L

https://www.stella-chemifa.co.jp/english/

Number of Employees

298

Sales Department

Osaka Sales Department (Chuo-ku, Osaka city, Osaka)
Tokyo Sales Department (Chiyoda-ku, Tokyo)

F a c t o r y

Sanpo Factory(Sakai-ku, Sakai City, Osaka)
Izumi Factory (Izumiotsu City, Osaka)
Kitakyushu Factory (Yahatanishi-ku, Kitakyushu City, Fukuoka)
17

Subsidiaries & Associates

At home (3 companies)
Transportation BusinessBLUE EXPRESS, Inc.

Sakai-ku, Sakai City, OsakaO t h e r

B u s i n e s sBLUE AUTO TRUST Co., Ltd.

Sakai-ku, Sakai City, Osaka

MedicalBusiness

STELLA PHARMA CORPORATION

Chuo-ku, Osaka city, Osaka

Abroad (7 companies)
High-Purity Chemical Business

STELLA CHEMIFA SINGAPORE PTE LTD

Singapore

Transportation Business

STELLA EXPRESS (Singapore) PTE LTD

Singapore

High-Purity Chemical BusinessBlue Express (Shanghai) International Trade Inc.

China

Transportation BusinessBlue Express (Shanghai) International Freight Forwarding Co., Ltd.

China

High-Purity Chemical Business

Zhejiang Blue Star Chemical Co., Ltd.

China

High-Purity Chemical Business

FECT CO.,LTD

South Korea

High-Purity Chemical Business

Quzhou BDX New Chemical Materials Co., Ltd.

China

18

Introduction of Our Business
Manufacture and applications of hydrogen fluoride

CaF2+ H2SO4 =2HF

Calcium fluoride(Fluorite)

Concentrated
sulfuric acid

Hydrogenfluoride* There are five main grades of fluorite purity,and for semiconductor applications, highquality fluorite with a purity of 97% or higher
is required.

+ CaSO4
Calcium
sulfateConcretematerials, etc.

Reaction and refinement using our proprietary technology

Treatment of
surface such as
stainless steel

Raw materials
such asalternatives for
CFCs

Etching agent for
semiconductor
liquid crystals

Materials forlithium-ion
secondarybatteries

Camera lens materials
for semiconductor
manufacturing
equipment

Reaction catalyst
Other products

19Introduction of Our Business
High-Purity Chemical Business
Surface Treatment

Manufacture and sale of chemicals used for acid cleaning of stainless steel andslimming of LCD panels

Alternatives for CFCs

Manufacture and sale of hydrofluoric anhydride, raw materials for CFCs andfluoropolymers

B a t t e r i e s

Manufacture and sale of additives to improve the performance of lithium-ion
secondary batteries

Semiconductors/LCDs

Manufacture and sale of chemicals for etching and cleaning in the semiconductorand LCD panel manufacturing processes

Semiconductor Devices

Manufacture and sale of raw materials for camera and stepper lenses, tantalum
production aids for tantalum capacitors, etc.

C a t a l y s t sManufacture and sale of raw materials for fluoropolymers and catalysts for the
manufacture of pharmaceutical intermediates, etc.

G

Sale as raw material for concrete, etc. (Byproduct of hydrofluoric acid production)

y

p

s

u

m

General Products

Manufacture and sale of fluorine compounds for toothpaste, concentrated boron
compounds, etc.

O

Sales of purchased goods, etc.

t

h

e

r

20

Introduction of Our Business- Semiconductors/LCDs -Ultra-High Purification Technology••

Impurity levels of less than 1 ppt (1×10-12) are controlled by ultra-purification and ultra-cleaning
technologies
Mass production of ultra-pure chemicals for ultra-high integrated circuit

Ultra High Purity•

Hydrofluoric acid (HF) is the only chemical capable of etching out silicon oxide film•

Chemical solutions are indispensable to the semiconductor manufacturing process andrequire ultra-high purity

Hydrofluoric Acid

Ultra High Purity Buffered
Hydrofluoric Acid•

In particular, dilute hydrofluoric acid is used in a number of semiconductor processes•

Mixed aqueous solution of hydrofluoric acid (HF) and ammonium fluoride (NH4F)•

Mainly used in processes such as etching and cleaning of insulation films•

Chemicals with etch rates ranging from tens of Å/min to thousands of Å/min can be produced

Example of Application (Photolithography Process)(1) Photoresist coating
on silicon wafer(heat drying)(2) ExposureLight(3) Development(4) Etching(Dissolve silicon oxide filmwith hydrofluoric acidchemicals)(5) Photoresist
stripping

Photoresist
Silicon oxide film

Silicon substrate21

Introduction of Our Business- Semiconductors/LCDs -Production capacity of High Purity Hydrofluoric Acid for Semiconductors
Kitakyushu Factory

Kitakyushu City, Fukuoka

30,000 t /year

Sanpo Factory

Sakai City, Osaka

65,000 t /year

STELLA CHEMIFASINGAPORE

Singapore

10,000 t /year

105,000 t /year* As a comprehensive manufacturer of fluorine compounds, we use our own
technology to do everything from manufacturing to filling.
22

Introduction of Our Business- Batteries -Additives Additive for electrolytic solution to improve the performance oflithium-ion secondary batteries
 High-temperature endurance・High conductivity・
Increased capacity・Low resistance・Flame retardance

Lithium Hexafluorophosphate High-purity electrolytes for lithium-ion secondary batteries

Izumi Factory's manufacturingbuilding (Izumiotsu City, Osaka)* Manufacturing at our affiliate company in China (Maximum production capacity: 1,300 t/year)

Example of materials used in lithium-ion secondary batteries
Additives

Positive andnegative electrodeSeparator

Current
collector

Electrolyte

BinderProtective IC

PTC element

Action on the Development of Materials for
the Next-Generation Battery

Quzhou BDX New Chemical
Materials Co., Ltd. (China)[Metal-ion secondary batteries]

High-purity electrolytes for sodium-ion secondary batteries(sodium hexafluorophosphate)[All-solid secondary batteries]

Fluoride materials for all solid-state batteries[Fluoride-ion secondary batteries]

Fluoride-ion conductor material

23

Introduction of Our Business- Enriched Boron -Enriched Boron (Boron-10) and its features
 Natural boron is made up of two isotopes, boron-10(20%) and boron11(80%)
 Developed technology to enrich boron-10 to over 95%
 Established mass production technology of enriched boron for the first timein Japan(2000)
 Boron-10 has an extremely high capacity to absorb neutrons, and further
enriching it can increase its ability to absorb neutrons.

Production capacity
Enrichment plant(Izumiotsu City, Osaka)

Products

Production Capacity

Degree of Concentration(Kg/Year)

（wt%）

3,000

Over 96％

Enriched Boron

10B

Enriched Boric Acid

H310BO3

20,00096%

K10BF440,00096%

Enriched Potassium

tetrafluoroborate

24

Introduction of Our Business- Enriched Boric Acid -Applications of Enriched Boron Compounds
 Neutron-absorbing material of spent nuclear fuel transportation and storage containers Material of control rods of nuclear reactors and rack material of spent nuclear fuel pools Excess reaction control of pressurized-water reactors by dissolving into primary coolingwater
 Water source for facilities responding to specific major accidents, etc.
 Raw material for cancer treatment drugs (BNCT: Boron Neutron Capture Therapy)

Advantages of Using Enriched Boric Acid
(1) Improvement of corrosive environment in nuclear reactors
Required 10B concentration can be secured at 1/5 of natural products.
Operation at low concentration is possible, and corrosion in facilities can be reduced.
(2) Reduction of storage costs
Heat retention are required to maintain the dissolution of boric acid water.
Enriched boric acid realizes the reduction in concentration, and reduces the problem of heatretention.
In addition, the storage tank can be made smaller.

(3) More reliable control
In the event of an emergency stop, more reliable control is possible, and since boric acid isharmful to the human body and the environment, the reduction of overall amount of boric
acid is an advantage.
25

Introduction of Our Business- GMP-related -Tin Fluoride 2017
The GMP inspection by USFDA for tin fluoride, an active ingredient of OTC anticaries drugs, wascompleted, and obtained official approval.
 2018Started marketing of “tin fluoride” as a GMP-compliant product.

<Actions of fluorine on teeth>■ To suppress Streptococcus mutans from producingacid (Cavity prevention)■ To promote tooth remineralization■ To form acid-resistant teeth (to form fluorapatite)* We expect to see big demand mainly inEurope and the US, where there is strong
Izumi Factory's manufacturing building
interest in dental health and beauty.
(Izumiotsu City, Osaka)*

What is FDA?

FDA stands for Food and Drug Administration in the U.S.
(A public agency, similar in function to the Ministry of Health, Labour and Welfare in Japan)*

What is GMP?

It stands for “Good Manufacturing Practice”, which refers to a common standard for manufacturing and quality control of drugs and quasi-drugs.

26

Introduction of Our Business- New Initiatives -Phosphor-related Materials
 Development of highly efficient and long-life fluoride phosphor materials using our core technologies
 Use of the materials is expected to increase in display applications such as mini-LED
Global Forecast on Mini-LED Displays[1,000 units]

Our phosphor-related materials
Red phosphor
materials
Phosphormaterials
Filler for LED
sealant

Display
MgF2 nanoparticles
CaF2 nanoparticles

ScreenColorfilter

LCD

Digital signage

Mini-LED
backlight
Local Dimming

Partially

Source: Yano Research Institute2019 LED Display Market and Future Prospects - Focusing on Micro LED and Mini-LED -Appearance of LSA-61A

Mini-LED is expected to be adopted for in-vehicle displays and meter panels, driving the number ofmini-LED displays installed27

Introduction of Our Business- New Initiatives -PCB Materials (Low Dielectric Constant Materials)

Forecast on Radio Frequency
Market
高周波（RF）回路、基板等(RF) Circuits, Substrates, etc.
[100 million yen][億円]
市場規模予測 As materials for high-frequency communication devices, used as additives (fillers) to resin and other materials for
substrates.
 Contribute to suppression of signal transmission loss, miniaturization of devices, and suppression of power
consumption.

200,000
180,000
160,000
140,000
120,000
100,000
80,00060,00040,00020,0000Filler powderHigh frequency signaltransmission(copper wiring)

Substratesurface

Filler for suppression of dielectric loss
(transmission loss inside the substrate)

2020
2020年

2024
2024年

2028
2028年

Electronic substrate built in highspeed communication devices

Low dielectric
constant
Low dielectric
tangent

2030
2030年

Source: Yano Research InstituteMarket Forecast on 5G High-frequency Circuits, Substrates, etc.

Appearance of developed filler

28Introduction of Our Business- Other product examples Optical Material-Related(Product information)◆Calcium Fluoride◆Aluminum Fluoride◆Magnesium Fluoride◆Zinc Fluoride◆Lithium Fluoride◆Lead Fluoride◆Strontium Fluoride◆Barium Fluoride

Reactive Catalyst-Related◆High Purity Boron Trifluoride◆Boron Trifluoride n-Butyl Ether◆Boron Trifluoride Piperidine◆Boron Trifluoride Diethyl Ether◆Boron Trifluoride Phenol◆Triethylamine 3HF◆Boron Trifluoride Dimethyl Ether◆Boron Trifluoride Monoethyl Amine

Surface Treatment, Alternatives for CFCs-Related

Nuclear Energy-Related◆Anhydrous Hydrofluoric Acid

◆10B Enriched Potassium Fluoroborate◆ 10B Enriched Boric Acid

◆55% Hydrofluoric Acid

Other Products◆Fluorosilicic Acid
◆Potassium Fluorosilicate ◆Fluoroboric Acid
◆Tin Fluoroborate◆Copper Fluoroborate◆Lead Fluoroborate◆Sodium Fluoroborate◆Potassium Fluoroborate◆Ammonium Hydrogenfluoride ◆Sodium Fluoride◆Potassium Fluoride◆Ammonium Fluoride◆Potassium Hexafluorozirconate◆Potassium Hexafluorotitanate◆Refined Calcium Fluoride◆Potassium Hexafluorophosphate

Newly-Developed Products◆Detergents Contributing to Increase in Chemical Lifetime ◆Detergents Suppressing Etching of Silicon Nitride Film
◆Detergents Inhibiting Silicon and Polysilicon Damage◆Battery-Related（Ionic Liquids, Additives for Lithium-Ion Batteries,…etc）◆Various Fluoride Nanoparticles Dispersant (Magnesium, Lithium, Ytterbium, Calcium)◆Phosphor materials◆Nuclear Energy Industry◆5G/6G (Information Communication Systems), Printed Circuit Board◆Special-Purpose Inorganic Fluorine Compounds◆Fluorinated Carbon Nano-Tubes

29

Introduction of Our Business* For details, please visit the website.

30

Introduction of Our Business- Transportation Business (HP URL)

Transportation BusinessBLUE EXPRESS, Inc.

T r a n s p o r t

Land transport ・Marine transport・Rail transport

Customs Clearance

Customs clearance ・Loading and Unloading

Warehousing

Providing multi-functional warehouses fully equipped with the latest systems

Supplying large and pressurized containers that meet ISO specifications,
medium-size IBC pressurized containers, as well as IBC containers with UN
Container services
specifications,and also offering services for cleaning, repairing and leasing thecontainers
Customs
clearance sites

Shipping terminals

Overseas Bases

Ohama OfficeSendai Office

Singapore

Osaka Office

Kanto Office

China(Shanghai)

Yokohama Office

Yokohama OfficeShimizu Office
Nagoya Office
Ohama Office
Kobe Office
Kitakyushu Office31

Introduction of Our Business- Medical Business (HP URL)

STELLA PHARMA CORPORATION

Medical Business
Boron Neutron Capture Therapy(Boron Neutron Capture Therapy : BNCT)

Mechanism of BNCTA particle beam treatment that selectively destroys cancer cells by using the nuclear fission reaction
between boron (Boron-10) and thermal neutrons produced by injecting a boron agent into cancer
cells and irradiating the affected area with neutrons from outside the body.

Normal cell

BPA

Cancer cell

Boron-10 compound (BPA) is
selectively brought into cancer cells.

Boron preparation for BNCT “Steboronine”

Irradiating withthermal neutron ray

Administration of
Boron-10 compound (BPA)

Cancer cells with Boron-10
compound (BPA) are selectively
destroyed.

[Product name]

Steboronine Intravenous Drip Bag 9000 mg/300 mL[Launch]May 20, 2020

[Regulatory classification] Prescription drugs *Used with a prescription from a doctor, etc.
[Indications]

Unresectable locally-advanced or locally recurrent head and neck cancers
32

Introduction of Our Business- Medical Business (HP URL)

STELLA PHARMA CORPORATION

Medical Business
Efforts to Expand the Indications
Brain tumor

A phase II study is underway.

(recurrent malignant glioma)(Under the consultation of the Prioritized Review System for innovative
medicines [SAKIGAKE Designation System])

Melanoma/angiosarcoma

A phase I clinical study is underway.

Recurrent high-grade
meningioma

A physician-led phase II study is underway.
(A Physician-led study)

18FBPA-PET Initiative

Visualizing the distribution of Boron-10 compound(BPA) expands the scope of development to include
cancers with limited clinical research experience

Boron-10 compound (BPA) labeled with 18F
18FBPA

Tumor
detection
Tumor
detection

PET scanHealthy adults

Brain tumor
patients

Lung cancer
patients

Photo: Courtesy of Dr. Jun Hatazawa (former Professor, Osaka University School of Medicine)33