しかしながら
しかしながら · shikashinagara · JLPT N1 · noun
however
shika (しか, 'only') + shinagara (品ながら, 'though it is so') = 'even so, nonetheless'
Breaks into しか (but/only) and ながら (while, though). Read it as 'still, even while that is the case', a formal contrast connector used like 'however' in writing.