A 
991
+0.10%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥8.28bn
FY2017FY2026
Net income
¥21.8m
FY2017FY2026
Free cash flow
¥332.0m
FY2017FY2026
Shareholders' equity
¥2.18bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥8.28bn | ¥7.96bn | ¥7.39bn | ¥7.07bn | ¥6.64bn | ¥6.42bn | ¥5.79bn | ¥5.62bn | ¥5.50bn | ¥5.40bn |
| Gross profit | ¥2.10bn | ¥1.90bn | ¥1.74bn | ¥1.65bn | ¥1.71bn | ¥1.74bn | ¥1.41bn | ¥1.38bn | ¥1.39bn | ¥1.38bn |
| Research and development | — | ¥30.5m | ¥30.7m | ¥27.9m | ¥24.7m | ¥21.2m | ¥23.6m | ¥28.8m | ¥40.9m | ¥30.6m |
| Operating income | ¥143.0m | ¥75.0m | ¥26.8m | ¥30.6m | ¥126.4m | ¥265.6m | ¥94.4m | ¥98.5m | ¥91.5m | ¥149.8m |
| Net income | ¥21.8m | ¥28.2m | ¥98.3m | ¥156.0m | ¥159.6m | ¥170.0m | ¥71.8m | ¥135.2m | ¥85.5m | ¥99.7m |
| Diluted earnings per share | 5.23 | 6.76 | 23.58 | 37.43 | 38.27 | 40.77 | 17.23 | 32.42 | 20.50 | 23.92 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥6.97bn | ¥7.13bn | ¥7.05bn | ¥6.07bn | ¥5.59bn | ¥5.38bn | ¥5.08bn | ¥5.09bn | ¥5.04bn | ¥4.48bn |
| Cash and short-term investments | ¥904.8m | ¥968.0m | ¥696.4m | ¥779.8m | ¥866.2m | ¥926.9m | ¥618.6m | ¥572.6m | ¥624.5m | ¥819.1m |
| Total liabilities | ¥4.79bn | ¥4.94bn | ¥4.86bn | ¥3.94bn | ¥3.56bn | ¥3.46bn | ¥3.35bn | ¥3.40bn | ¥3.46bn | ¥2.98bn |
| Debt | ¥3.14bn | ¥3.42bn | ¥3.37bn | ¥2.49bn | ¥2.27bn | ¥2.16bn | ¥2.27bn | ¥2.23bn | ¥2.33bn | ¥1.88bn |
| Shareholders' equity | ¥2.18bn | ¥2.18bn | ¥2.18bn | ¥2.14bn | ¥2.03bn | ¥1.92bn | ¥1.73bn | ¥1.70bn | ¥1.57bn | ¥1.50bn |
| Shares outstanding | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥642.9m | ¥725.1m | ¥393.2m | ¥449.0m | ¥364.3m | ¥785.9m | ¥480.3m | ¥474.0m | ¥334.8m | ¥413.6m |
| Capital spending | −¥310.8m | −¥464.0m | −¥1.03bn | −¥684.6m | −¥497.8m | −¥335.2m | −¥458.5m | −¥395.0m | −¥943.5m | −¥508.1m |
| Free cash flow | ¥332.0m | ¥261.1m | −¥638.1m | −¥235.6m | −¥133.5m | ¥450.7m | ¥21.9m | ¥78.9m | −¥608.7m | −¥94.6m |
| Dividends paid | −¥41.5m | −¥41.5m | −¥41.5m | −¥41.6m | −¥41.3m | −¥20.7m | −¥20.6m | −¥20.7m | −¥20.7m | −¥16.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.10bn | ¥1.92bn | ¥2.29bn | ¥2.02bn | ¥2.06bn | ¥2.00bn | ¥2.19bn | ¥1.91bn |
| Gross profit | ¥500.0m | ¥522.9m | ¥583.9m | ¥490.2m | ¥499.0m | ¥513.5m | ¥529.0m | ¥456.8m |
| Operating income | −¥8.0m | ¥52.1m | ¥75.8m | ¥10.0m | ¥5.1m | ¥57.3m | ¥38.7m | −¥30.1m |
| Net income | ¥1.9m | −¥55.8m | ¥58.0m | ¥21.9m | −¥2.3m | ¥55.1m | ¥21.5m | −¥12.0m |
| Diluted earnings per share | 0.46 | -13.39 | 13.92 | 5.25 | -0.55 | 13.21 | 5.15 | -2.89 |
| Total assets | ¥7.10bn | ¥6.97bn | ¥7.14bn | ¥6.91bn | ¥7.02bn | ¥7.13bn | ¥7.24bn | ¥7.04bn |
| Cash and short-term investments | ¥882.0m | ¥904.8m | ¥788.1m | ¥754.2m | ¥806.7m | ¥968.0m | ¥696.9m | ¥670.2m |
| Debt | ¥1.70bn | ¥3.01bn | ¥1.53bn | ¥3.10bn | ¥1.56bn | ¥3.28bn | ¥1.66bn | ¥3.36bn |
| Shareholders' equity | ¥2.15bn | ¥2.18bn | ¥2.22bn | ¥2.16bn | ¥2.13bn | ¥2.18bn | ¥2.12bn | ¥2.11bn |
Financial ratios
Data as of 19 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 25.3% | 23.9% | 23.5% | 23.3% | 25.7% | 27.1% | — |
| Operating margin | 1.7% | -0.0% | 0.2% | 0.3% | 1.7% | 4.1% | — |
| Net margin | 0.3% | 0.4% | 1.3% | 2.2% | 2.4% | 2.6% | — |
| Return on equity | 1.0% | 1.3% | 4.5% | 7.3% | 7.8% | 8.9% | — |
| Return on assets | 0.3% | 0.4% | 1.4% | 2.6% | 2.9% | 3.2% | — |
| Free cash flow yield | 23.1% | 28.8% | 34.5% | 27.4% | 20.9% | 27.1% | — |
| Revenue growth | 4.1% | 7.6% | 4.6% | 6.5% | 3.4% | 10.8% | — |
| Earnings growth | -22.6% | -71.3% | -37.0% | -2.2% | -6.1% | 136.6% | — |
| Current ratio | 1.04x | 1.09x | 1.15x | 1.09x | 1.14x | 1.17x | — |
| Debt to equity | 1.38x | 1.50x | 1.49x | 1.16x | 1.11x | 1.11x | — |
| Equity ratio | 31.2% | 30.6% | 31.0% | 35.2% | 36.3% | 35.7% | — |
| Interest coverage | 4.52x | -0.11x | 0.77x | 1.81x | 10.58x | 22.42x | — |
| R&D as a share of sales | — | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 0.4% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.4% | 5.2% | 4.7% |
| Operating income | 67.3% | -11.6% | 4.9% |
| Net income | -48.1% | -33.7% | -8.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.6% | 24.1% | 24.8% | 24.7% |
| Operating margin | 1.3% | 0.9% | 1.5% | 1.7% |
| Net margin | 0.3% | 1.0% | 1.4% | 1.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 189.9 | 150.4 | 42.1 | 27.4 | 27.3 | 26.3 | 68.2 | 25.2 | 39.6 | 26.8 |
| Price to sales | 0.5 | 0.5 | 0.6 | 0.6 | 0.7 | 0.7 | 0.8 | 0.6 | 0.6 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 17 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 20.00 | 10.00 | 10.00 | 10.00 | 10.00 | 5.00 | 5.00 | 5.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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