Corporate Information

STELLA CHEMIFA CORPORATION

Corporate ProﬁleCorporate NameSTELLA CHEMIFA CORPORATION

Sales Department

Osaka Sales Dept. (Chuo-ku, Osaka City, Osaka)
Tokyo Sales Dept. (Chiyoda-ku, Tokyo)

Head Oﬃce

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

Factories

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

R&D base

Next Generation Materials Research Lab(Sakai-ku, Sakai City, Osaka「Located within Sanpo factory premises」）

Subsidiaries /Aﬃliated BusinessBLUE EXPRESS, INC.
STELLA CHEMIFA SINGAPORE PTE LTDZHEJIANG BLUE STAR CHEMICAL CO., LTD.
BLUE AUTO TRUST CO., LTD.
STELLA EXPRESS (SINGAPORE) PTE LTD
BLUE EXPRESS (SHANGHAI) INTERNATIONAL TRADE INC.
BLUE EXPRESS (SHANGHAI) INTERNATIONAL FREIGHTFORWARDING CO., LTD.
STELLA PHARMA CORPORATIONQUZHOU BDX NEW CHEMICAL MATERIALS CO., LTD.

FoundedFebruary 1, 1916

EstablishedFebruary 1, 1944

Capital Funds

4,829,782,512 yen

Share of Stock

Tokyo Stock Exchange, Prime Market

Number ofissued shares

13,213,248 sharesFiscal Year End

March

URL

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

Sanpo Factory

Izumi Factory

Kitakyushu Factory

Next Generation
Materials Research Lab

Exective
Members
Representative Director, President and Chief Executive Oﬃcer

Aki Hashimoto

Representative Director, Senior Managing Director

Kiyonori SakaManaging Director

Jun Takano

Director, Executive Oﬃcer

Norio Ogata

Director, Executive Oﬃcer

Masaaki Tsuchiya

Director, Executive Oﬃcer

Yasuhiko Nakashima

Director, Executive Oﬃcer

Takeshi Iijima

Director, Audit and Supervisory Committee Member

Hirohisa Kikuyama

Outside Director, Audit and Supervisory Committee Member

Yusaku Nishimura

Outside Director, Audit and Supervisory Committee Member

Shine Matsumura

Outside Director, Audit and Supervisory Committee Member

Jun Yamamoto

Outside Director, Audit and Supervisory Committee Member

Kayoko Nishino

Outside Director, Audit and Supervisory Committee Member

Akemi Ucida

Executive Oﬃcer

Zhiwu Liu

MUFG Bank, Ltd.

Executive Oﬃcer

Miyuki Koike

The Kiyo Bank, Ltd.

Executive Oﬃcer

Yoshinori Nakagawa

Resona Bank, Ltd.

Client Bank
Sumitomo Mitsui Trust Bank, Ltd.
Sumitomo Mitsui Banking Corporation

STELLA CHEMIFA CORPORATIONManagement Philosophy
１．A Sound and Reliable
CompanyWith the utmost consideration to the health and safety of our employees, we will build a company

２．Pursuit of Technology

We will maintain our attitude of pursuing technological innovation.

３．Wisdom and Creativity
４．Spirit of ChallengeWith an expansive vision, we will be creative and innovative with wisdom and strive to create new value.

that is sound and continues to be reliable.

All our employees will unite as one as they strive to achieve our goals with a strong sense of purpose.

Company Motto
１．Be healthy

２．Be loyal

３．Be brave

４．Cultivate wisdom

５．Be responsible

History
1916

Founded Hashimoto Shokodo Pharmaceutical Plant in Sakai City, Osaka, and started manufacturing hydrosulfate.

1930

Started manufacturing ﬂuorine compounds.

1934

Established general partnership, Hashimoto Pharmaceutical Plant.

1944

Established Hashimoto Chemical Industrial Co., Ltd. (Sakai City, Osaka)

1945

Resumed manufacturing copper sulfate in Shorinji Factory. (Sakai City, Osaka)

1956

Resumed the operation at Sanpo Factory (Sakai City, Osaka)and additionally built production facility for hydroﬂuoric acid.

1961

Additionally built production facilities for hydroﬂuoric acid,aluminum ﬂuoride and other ﬂuoride products.

1963

Succeeded in industrialization of borontriﬂuoride gas in Japan.

1970

Established Izumi Factory. (Izumiotsu City, Osaka)

1971

Completed production facility for dry aluminum ﬂuoride in Sanpo Factory.

1984

Completed cleaning plant (PAS-I) for high-purity hydroﬂuoric acid used for semiconductors in Sanpo Factory.

1990

Moved the head oﬃce to Nishihonmachi Nishi-ku in Osaka City, Osaka.
Changed the company name to HASHIMOTO CHEMICAL CORPORATION.
Completed cleaning plant (PAS-II) for ultra high-purity hydroﬂuoric acid used for semiconductors in Sanpo Factory.

1991

Separated the Transportation Department and established BLUE EXPRESS, INC. 100% owned aﬃliated company.

1994

Established joint company, FECT CO., LTD. in South Korea.

1996

Completed new plant for lithium hexaﬂuorophosphate in Izumi Factory.

1997

New administrative oﬃce and laboratory were established in Sanpo Factory.
Changed the company name to STELLA CHEMIFA CORPORATION.

1999

Completed cleaning plant (PAS-III) for ultra high-purity hydroﬂuoric acid used for semiconductors in Sanpo Factory.
Moved the head oﬃce to Awaji-Machi Chuo-ku in Osaka City, Osaka.
Listed on the second section of Osaka Securities Exchange.

2000

Listed on the ﬁrst section of Tokyo Stock Exchange and Osaka Securities Exchange.
Completed plant for enriched boron (boron-10) in Izumi Factory.

2001

Established a wholly owned subsidiary company in Singapore, STELLA CHEMIFA SINGAPORE PTE LTD.

2002

Established ZHEJIANG BLUE STAR CHEMICAL CO., LTD. in China.

2007

Established a wholly owned subsidiary company, STELLA PHARMA CORPORATION. Medical business went into full scale operation.
Completed cleaning plant (PAS-IV) for ultra high-purity hydroﬂuoric acid used for semiconductors in Sanpo Factory.

2012

Expansion plant for lithium hexaﬂuorophosphate in Izumi Factory.

2014

Established Kitakyushu Factory. (Yahatanishi-ku,Kitakyushu City, Fukuoka)

2015

Established QUZHOU BDX NEW CHEMICAL MATERIALS CO., LTD. in China.

2016

Completed mass production facility for additives used for lithium-ion secondary batteries in Izumi Factory.

2017

Full-scale production of GMP-compliant tin ﬂuoride begins at Izumi Factory.

2018

Moved the head oﬃce to Fushimi-Machi Chuo-ku in Osaka City, Osaka.

2021

STELLA PHARMA CORPORATION. listed on Tokyo Stock Exchange Mothers.
Dissolved the joint venture, FECT CO.,LTD..(Tranferred all stock holdings)

2022

STELLA PHARMA CORPORATION. changed from a consolidated subsidiary to an equity-method aﬃliate.
Moved from the ﬁrst section to Prime Market due to a review of the market classiﬁcation of Tokyo Stock Exchange.

2023

Completed Next Generation Materials Research Lab in Sanpo Factory.

STELLA CHEMIFA CORPORATION

Investor Relations
Our group consists of our company, 7 subsidiaries, and 2 aﬃliated companies (as of March 2024). We supply a diverse
range of ﬂuoride products in line with the needs of customers mainly in the information and communication industry
in Japan and overseas, as well as developing the chemical product distribution business based on the unique know-how
acquired in the transportation of special cargo.
Consolidated sales for FY March 2024 amounted to 30,446 million yen, breakdown as follows. The High-Purity Chemicals
Business accounted for 26,019 million yen, Transport Business for 4,252 million yen, and Others for 174 million yen.

High-Purity Chemical Business 85.4%
Semiconductors /LCDs 60.2％

Sales by Segment

Others25.2％【2024/3】

Transportation Business 14.0％
Others 0.6％

The World's Top Level Market Share in the Field of Fluorine Compounds
With ﬂuorine chemistry as its main theme, since 1930 our High Purity Chemical Business has been developing high-purity and high quality
ﬂuorine compounds. As a result, we are proud of our high market share.
Using our proprietary technologies and manufacturing processes, we manufacture and distribute ﬂuorine compounds, which are used as
chemical solutions for etching and cleaning in manufacturing processes of semiconductors, tantalum production aids for tantalum capacitors,
raw materials for camera and stepper lenses, catalysts for the manufacture of pharmaceutical intermediates, and ﬂuorides as additives for
tooth paste, as well as enriched boron compounds for nuclear applications. Our products are applied for a wide variety of purposes.

By utilizing our strengths in elemental technologies, we are also focusing on the development of new products and materials with the aim of
expanding our business portfolio, such as cell culture vessels used in regenerative medicine, etc., phosphor-related materials used in LED/LCD
backlights and lighting, printed circuit board-related materials that contribute to high-speed communication infrastructure such as 5G, othermaterials for rechargeable batteries, and more.

Our Transportation Business started by handling the ﬂuoride compounds that we manufactured and sold. Today we safely transport a diverse
range of speciﬁed chemical substances, high-pressure gas, hazardous materials and similar products. In doing so, we are able to respond to awide variety of needs thanks to our own technology and expertise, while at the same time building a high degree of trust and credibility.

STELLA CHEMIFA CORPORATION

Sales Revenue

Unit: million yen

Earnings per Share / Net Assets per Share

Unit: yen
Earnings per Share
Net Assets Per Share

40,0004,000

35,00030,00035,38233,72932,8933,000
30,44625,0002,500

20,0002,000

15,0001,500

10,000

1,000

5,000

500

0

0
FYE 3/2020

3,369.93

3,500

37,296FYE 3/2021

FYE 3/2022

FYE 3/2023

Operating Proﬁt

FYE 3/2024

Unit: million yen

3,568.67

3,679.90

186.03

153.48FYE 3/2023

FYE 3/2024

2,826.78
2,635.50

230.70422.97149.00FYE 3/2020

FYE 3/2021

FYE 3/2022

Return on Equity (ROE) / Return on Assets (ROA)

Unit: %
ROE
ROA

5,000

16.0
13.7

4,500
4,000
4,081

3,500
3,000

12.0

4,081

3,523

3,514

2,500
2,000

14.0

4,583

4,583

3,514
2,722

2,407

2,407

10.4

10.0

8.4

7.8

7.6

5.4

8.0
5.8
6.0

5.4

1,500
4.0
1,000

4.2

4.2
2.0

500

0.0

0
FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

FYE 3/2020

FYE 3/2024

FYE 3/2021

FYE 3/2022

FYE 3/2023

FYE 3/2024

Ordinary Proﬁt /Proﬁt Attributable to Owners of Parent

Unit: million yen

Interest-Bearing Liabilities / D/E Ratio(times)

Unit: million yen / times
Interest-Bearing
Liabilities

Ordinary Proﬁt
Proﬁt Attributable to
Owners of Parent

D/E Ratio(times)

20,000

6,000

0.40

5,707

5,000

0.33

5,364

15,000
4,000

0.30

4,347
0.24

4,020

3,000

10,000

2,000

0.20

11,184

3,064

2,959

8,862

2,307

0.13

2,280

1,924

1,845

5,000

0.10

1,000

0.12

0.10

5,594

5,119
4,138

0

0
FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

FYE 3/2024

0.00
FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

FYE 3/2024※Consolidated Closing

STELLA CHEMIFA CORPORATION

Sustainability
Basic Policy on Sustainability
In addition to practicing our management philosophy, we strive to realize a sustainable society and enhance corporate value throughour business activities under the slogan “Beyond the Chemical,” which embodies our “aim to create productsthat will make people
happy, and as a result, build a company with higher corporate value.”
1. Identify materiality (key issues) and contribute through business activities
・We will promote research and development utilizing original perspectives and unique technologies that we have cultivated tocreate and provide products that contribute to solving social issues.
・We will commit to achieving long-term mutual prosperity by capturing customer needs and providing high-quality, safe products
in a stable manner.
2. Respond to climate change and conserve the environment
・We will work toward the realization of a decarbonized society and address environmental issues, including climate change.
・We will manage and reduce the emission of chemical substances from our business activities and strive to reduce our impact on
the natural environment.
3. Create a safe and rewarding environment
・We aim to create a workplace environment where diverse personalities and workstyles are respected, work-lifebalanceis enriched, and work is rewarding.
・We are committed to developing responsible and autonomous human resources who can think and act on their own.

・We respect human rights and do not engage in unjust discrimination based on race, gender, ethnicity,nationality, or any othergrounds, including among our suppliers.

Materiality
We selected priority issues to be addressed from the perspective of their importance to management and the Company, and 12 materialities(important issues) were identiﬁed.

Contribute through business● Creating and providing products that contribute to solving social issues● Improving customer satisfaction by ensuring product quality and safety

Respond to climate change
and conserve the environment● Adaptation to and mitigation of climate change● Conservation of air, water, and soil environments● Responding to water risk

Create a safe andrewarding environment● Employee Well-being● Strengthen human capital● Occupational safety and health, security and disaster prevention

Respect for human rights● Respect for human rights in business

Strengthen governance toenhance corporate value● Compliance and anti corruption● Appropriate disclosure of corporate information● Strengthen corporate governance

Response to Climate Change
We recognize that addressing environmental issues is an essential requirement for corporate activities in order to realize a sustainable
society (a carbon neutral society by 2050). We also consider addressing climate change to be an important management issue, andwill work to contribute to the realization of a sustainable society through our business while promoting measures based on the TCFD
recommendations.
GHG emissions
30,00025,718ｔ

25,611ｔ
22,276ｔ
17,302ｔ

20,00013,888ｔ
46％ reduction

10,000０t
Achievementof Carbon
Neutrality

0
FY2013

FY2016FY2019FY2022

FY2030FY2050STELLA CHEMIFA CORPORATION

High-purity Chemical Business

Semiconductors

In the semiconductor-related business, our mainstay business, we handle chemicals that are used in the semiconductor manufacturing
process, such as for cleaning and etching.
Semiconductors are widely used in home appliances, computers, smartphones, and other electronic devices. They are also used in
automobiles, trains, medical equipment, ATMs, and more, playing an indispensable role in social infrastructure. Recently, the use ofartiﬁcial intelligence (AI), particularly generative AI, has been expanding across various industries, and as semiconductors are used insuch a diverse range of ﬁelds, the market is expected to expand further.
Silicon wafers serve as the foundation of semiconductors, and our product (hydroﬂuoric acid) is used in important processes such as
cleaning and etching silicon wafers in the semiconductor manufacturing process.
Hydroﬂuoric acid is used because it is “the only substance that can dissolve glass,” and silicon wafers have the same components as
glass, making it the only substance that can be used for cleaning, etching, etc.
In recent years, advances in semiconductor miniaturization and multi-layer technology have created a demand for the hydroﬂuoric acidused in semiconductors to have an extremely high level of purity, with as many impurities removed as possible.
We independently developed and established our own hydroﬂuoric acid puriﬁcation technology, quickly succeeding in achievinghydroﬂuoric acid with a purity of over 12N (99.9999999999%).
We currently have two domestic and one overseas production bases, with a combined annual production capacity of over 100,000 tons,
and have earned the trust of semiconductor manufacturers, etc., not only in Japan but around the world.

Product Namefeatures

Ultra High Purity
Hydroﬂuoric Acid

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

Ultra High Purity Buﬀered
Hydroﬂuoric Acid

• 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

Production Capacity (annual)
Sanpo Factory

65,000ｔ

Kitakyushu Factory

30,000ｔ

STELLA CHEMIFA SINGAPORE PTE LTD

10,000ｔ

TOTAL

105,000ｔ（As of June, 2024）

STELLA CHEMIFA CORPORATION

Energy“Boron-10,” enriched boron used at nuclear energy-related facilities, is characterized by its extremely high neutron absorption. By increasing
the concentration, the maximum neutron absorption can be increased several times. We established the technology that enables us toconcentrate “Boron-10” up to 99% or more and mass-produce the product for the ﬁrst time in Japan in 2000. We have built Japan’ s only
concentration plant and have been manufacturing and marketing the product. Enriched boric acid is added to the primary cooling water,etc. at pressurized water reactors using natural boric acid for the purpose of neutron absorption. The use of enriched boric acid improves
the ability of neutron absorption while suppressing the addition to the primary cooling water. Also, since warming the primary cooling water
is assumed to be unnecessary, it is expected that the safety and convenience will be improved due to decreased load of the facilities and themaintenance and management costs will be reduced. Carbon neutral, reducing carbon dioxide emissions to eﬀectively zero, has become a

global issue, and some countries are considering the introduction and expansion of nuclear power plants. Under this circumstance, thedemand for enriched boric acid is expected to further expand in nuclear power plants to be newly established or reoperated in Japan andoverseas in the future.
We are also working on the development of new additive that improves the performance of lithium-ion secondary battery. The demand forthe additive is anticipated to increase in the EV (electric vehicle) market, which is expected to grow in the future. The research and development

department is also working on the development for the next generation batteries while looking at post lithium-ion secondary batteries.

Product Name

Applications

10

B Enriched Boric Acid

Spent nuclear fuel storage pool and neutron control forpressurized-water reactor and raw materials for neutron
shielding materials, etc.

10

B Enriched Potassium Fluoroborate

Spent nuclear fuel storage containers, etc.

Products

Production Capacity(annual)Enriched Boron（ ¹⁰B ）

6ｔ※
（ ¹⁰B ）6ｔ converted into each of the following items

Enriched Boric Acid（ H₃¹⁰BO₃ ）36ｔ

Enriched Potassium
tetraﬂuoroborate（ K¹⁰BF₄ ）75ｔ

General Products
We manufacture high purity boron triﬂuoride and its compounds as catalysts to promote chemical reactions called "polymerization" which

are required when manufacturing a range of chemicals and pharmaceutical intermediates. In 1963, Stella Chemifa was the ﬁrst company
to produce boron triﬂuoride gas for industrial use in Japan. Currently, we are the only company in Japan manufacturing boron triﬂuoride
gas. Taking advantage of this exclusivity, we supply a broad variety of products to chemical and pharmaceutical manufacturers both inJapan and overseas.
Product Name

Applications

High Purity Boron Triﬂuoride

Catalysts for synthesis of pharmaceutical intermediates,
polymerization catalysts, etc.

Boron Triﬂuoride Diethyl Ether

Catalysts for synthesis of pharmaceutical intermediates
Catalysts for organic synthesis

Boron Triﬂuoride Monoethyl Amine

Hardening accelerants for resin

GMP (Good Manufacturing Practices) is a standard for manufacturing control and quality control of chemical agents and quasi-chemical
agents. It is based on the principles of "reducing human errors to the lowest level," "preventing contamination and product quality loss"
and "designing systems to assure high product quality." Previously, we had been manufacturing and selling tin ﬂuoride, a raw material for
toothpaste. In anticipation of market expansion, we completed measures to comply with US c-GMP and we became the ﬁrst manufacturer
in Japan producing tin ﬂuoride as the raw material for toothpaste.

Product Name
Tin Fluoride

Applications
Toothpaste additive

STELLA CHEMIFA CORPORATION

Transportation BusinessCorporate ProﬁleCorporate NameBLUE EXPRESS, INC.

Head Oﬃce

10 Ohamanishi-machi, Sakai-ku, Sakai City,
Osaka, Japan

President Director

Kiyonori Saka

Established

June 20,1991

Capital Funds

350 million yen

Business
Operations

General Lorry Transportation Business
International Multimodal Transport Business
Warehouse Industry
Packaging Business
Customs Clearance Industry
Sales and Leasing of Containers and Tanks
Wholesale Industry of Industrial Chemicals(Importing and Exporting)
Real Estate Industry
Work Contractor Industry
Wholesale Industry of Used Car
Car Maintenance Industry

Licenses

Environmental
Activities

Head Oﬃce
URL

Associated and
STELLA CHEMIFA CORPORATION
Aﬃliated Companies STELLA EXPRESS (SINGAPORE) PTE LTD
BLUE EXPRESS (SHANGHAI) INTERNATIONAL TRADE INC.
BLUE EXPRESS (SHANGHAI) INTERNATIONALFREIGHT FORWARDING CO., LTD.
BLUE AUTO TRUST CO., LTD.
ABE SAWMILL CO.,LTD.
TANK TEC CO.,LTD.

License to Handle Dangerous Articles
License to Handle Toxic Substance
License to Oversee Operation of Special Chemical Substance
License to Inspect Safety of High Pressure Gas Manufacturing
License to Supervise Transportation of High Pressure Gas
Crane Operators
Registered Customs Specialists

ISO14001:2015

https://www.blue-express.co.jp/

Client BankMUFG Bank, Ltd．
Resona Bank, Ltd.
Mizuho Bank, Ltd.
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Trust Bank, Ltd.

STELLA CHEMIFA CORPORATION

Today, with the policy of safety, we propose eﬃcient distribution system.
Originating in 1989 as the distribution department for Stella Chemifa,
we incorporated the business as BLUE EXPRESS, INC. in 1991.

Since then, we have utilized our unique technology and expertise to transport special chemical substances, high-pressure gas,hazardous materials and similar products for which other companies are not in a position to take responsibility for safe transportation.
This has earned a high level of trust from our customers and the industry.

The Four Areas that Support Our Transportation BusinessWe have accumulated a long track record under the motto

Streamlining cargo management and processing systems isof transporting ﬂuorine, special chemical substances andvital to increase eﬃciency in distribution and logistics.

related products "with care and assurance."

Not merely a location stores cargo, we realize that warehouses

Each one of our staﬀ members is licensed for the speciﬁcplay a more critical role in distribution.

work they perform and are distribution engineers highly

We provide multi-functional warehouses fully equipped withknowledgeable of what safe transportation really means.

the latest systems.

We pride ourselves in orchestrating extremely eﬃcient
distribution systems with a penchantfor safety at their core.

Shipping

Warehousing

High-purity chemicals, hazardous materials,
high-pressure gas, general cargo and otherDistribution needs grow

Customs BrokerageContainer Services

diversely.

In transporting products
and raw materials, customers

Responding with detailed services for both the domestic andconfront a variety of challenges, including distribution methods

international arena, we oﬀer worldwide distribution services

and shipping containers, receptacles, and vessels.

ranging from conducting the various procedures related to

We also oﬀer services for cleaning, repairing and leasing theimporting and exporting on behalf of our customers tocontainers.

collecting and consolidating cargo, and land-bases storage,
management, distribution processing and delivery.