B 
3,020
-0.17%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥7.30bn
FY2016FY2025
Net income
¥48.3m
FY2016FY2025
Free cash flow
−¥235.6m
FY2016FY2025
Shareholders' equity
¥2.12bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥7.30bn | ¥7.09bn | ¥7.06bn | ¥6.39bn | ¥5.37bn | ¥5.20bn | ¥4.89bn | ¥4.70bn | ¥4.62bn | ¥4.40bn |
| Gross profit | ¥1.72bn | ¥1.74bn | ¥1.75bn | ¥1.51bn | ¥1.33bn | ¥1.22bn | ¥1.30bn | ¥1.15bn | ¥1.07bn | ¥958.9m |
| Research and development | ¥109.9m | ¥103.2m | ¥102.2m | ¥95.5m | ¥84.9m | ¥81.8m | ¥75.9m | ¥74.4m | ¥65.8m | ¥68.4m |
| Operating income | −¥32.6m | ¥32.5m | ¥76.6m | ¥243.1m | ¥211.2m | −¥125.1m | ¥72.7m | ¥18.2m | −¥83.9m | ¥157.4m |
| Net income | ¥48.3m | ¥39.9m | ¥78.0m | ¥202.3m | ¥122.2m | −¥214.4m | −¥3.8m | ¥29.2m | −¥69.2m | ¥14.0m |
| Diluted earnings per share | 30.20 | 25.00 | 48.85 | 138.84 | 93.70 | -168.88 | -2.97 | 22.87 | -54.48 | 11.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥6.12bn | ¥5.73bn | ¥5.72bn | ¥6.13bn | ¥5.10bn | ¥4.67bn | ¥3.72bn | ¥3.71bn | ¥3.64bn | ¥3.73bn |
| Cash and short-term investments | ¥878.2m | ¥924.4m | ¥1.00bn | ¥1.10bn | ¥964.4m | ¥728.8m | ¥489.3m | ¥508.1m | ¥419.7m | ¥430.1m |
| Total liabilities | ¥3.94bn | ¥3.61bn | ¥3.64bn | ¥4.46bn | ¥3.85bn | ¥3.53bn | ¥2.38bn | ¥2.37bn | ¥2.31bn | ¥2.31bn |
| Debt | ¥2.41bn | ¥2.17bn | ¥2.10bn | ¥2.61bn | ¥2.30bn | ¥2.01bn | ¥1.36bn | ¥1.41bn | ¥1.31bn | ¥1.40bn |
| Shareholders' equity | ¥2.12bn | ¥2.07bn | ¥2.03bn | ¥1.62bn | ¥1.02bn | ¥908.0m | ¥1.14bn | ¥1.15bn | ¥1.13bn | ¥1.21bn |
| Shares outstanding | 2m | 2m | 2m | 1m | 1m | 1m | 1m | 1m | 1m | 1m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥329.9m | ¥111.5m | ¥177.5m | ¥344.6m | ¥481.5m | ¥311.4m | ¥257.1m | ¥157.8m | ¥203.5m | −¥48.5m |
| Capital spending | −¥565.5m | −¥230.1m | −¥67.5m | −¥449.6m | −¥502.8m | −¥605.9m | −¥100.2m | −¥189.0m | −¥108.6m | −¥384.3m |
| Free cash flow | −¥235.6m | −¥118.7m | ¥110.0m | −¥105.0m | −¥21.2m | −¥294.4m | ¥156.9m | −¥31.2m | ¥94.9m | −¥432.8m |
| Dividends paid | −¥15.6m | −¥15.7m | −¥14.1m | −¥12.1m | −¥14.0m | −¥12.4m | −¥12.9m | −¥12.4m | −¥12.2m | −¥12.3m |
Latest quarters
By quarter end
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.78bn | ¥2.71bn | ¥788.7m | ¥2.51bn | ¥1.59bn | ¥2.44bn | ¥763.4m | ¥2.47bn |
| Gross profit | ¥558.4m | ¥809.6m | ¥36.5m | ¥620.3m | ¥454.7m | ¥645.2m | −¥3.3m | ¥594.1m |
| Operating income | ¥83.1m | ¥287.0m | −¥330.9m | ¥187.6m | ¥11.9m | ¥142.2m | −¥374.3m | ¥174.1m |
| Net income | ¥49.6m | ¥218.6m | −¥231.0m | ¥119.1m | −¥1.4m | ¥206.7m | −¥276.1m | ¥82.0m |
| Diluted earnings per share | 31.02 | 136.57 | -144.35 | 74.44 | -0.89 | 129.16 | -172.52 | 51.33 |
| Cash from operations | — | — | — | ¥329.0m | — | — | — | — |
| Capital spending | — | — | — | −¥565.0m | — | — | — | — |
| Free cash flow | — | — | — | −¥236.0m | — | — | — | — |
| Total assets | ¥6.63bn | ¥7.10bn | ¥5.91bn | ¥6.12bn | ¥6.09bn | ¥6.61bn | ¥5.28bn | ¥5.73bn |
| Cash and short-term investments | ¥1.15bn | ¥787.8m | ¥841.5m | ¥878.2m | ¥760.8m | ¥704.9m | ¥980.3m | ¥924.4m |
| Debt | ¥1.24bn | ¥1.34bn | ¥1.11bn | ¥2.39bn | ¥1.18bn | ¥2.53bn | ¥1.09bn | ¥922.9m |
| Shareholders' equity | ¥2.15bn | ¥2.09bn | ¥1.87bn | ¥2.12bn | ¥1.99bn | ¥1.99bn | ¥1.78bn | ¥2.07bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 23.5% | 24.6% | 24.9% | 23.6% | 24.8% | 23.4% |
| Operating margin | -0.4% | 0.3% | 1.1% | -0.9% | -1.0% | -2.4% |
| Net margin | 0.7% | 0.6% | 1.1% | 3.2% | 2.3% | -4.1% |
| Return on equity | 2.3% | 1.9% | 3.8% | 12.5% | 12.0% | -23.6% |
| Return on assets | 0.8% | 0.7% | 1.4% | 3.3% | 2.4% | -4.6% |
| Free cash flow yield | 18.3% | 7.0% | 5.0% | 17.8% | 24.7% | 23.6% |
| Revenue growth | 2.9% | 0.5% | 10.4% | 19.0% | 3.4% | 6.4% |
| Earnings growth | 21.0% | -48.8% | -61.4% | 65.6% | -157.0% | 5592.1% |
| Current ratio | 1.40x | 1.43x | 1.31x | 1.09x | 1.04x | 0.89x |
| Debt to equity | 1.13x | 1.05x | 1.02x | 1.59x | 2.27x | 2.21x |
| Equity ratio | 34.6% | 36.1% | 35.5% | 26.5% | 19.9% | 19.5% |
| Interest coverage | -1.99x | 2.21x | 7.96x | -6.63x | -6.47x | -21.38x |
| R&D as a share of sales | 1.5% | 1.5% | 1.4% | 1.5% | 1.6% | 1.6% |
| Buybacks as a share of market value | -0.2% | 0.0% | -9.6% | -11.8% | -2.7% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.5% | 7.0% | 5.6% |
| Operating income | — | -23.6% | — |
| Net income | -38.0% | — | 3.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.0% | 24.1% | 24.1% | 24.2% |
| Operating margin | -0.0% | 1.1% | 1.1% | 1.0% |
| Net margin | 0.6% | 1.3% | 0.7% | 0.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 105.8 | 127.2 | 69.7 | 20.9 | 28.8 | -12.9 | -850.4 | 88.5 | -41.9 | 85.0 |
| Price to sales | 0.7 | 0.7 | 0.8 | 0.7 | 0.7 | 0.5 | 0.7 | 0.6 | 0.6 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 14 years. Last went ex-dividend on 30 Oct 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 20.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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