R 
154
0.00%
Close of 9 Nov 2026, in JPY
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in JPY, from our data supplier.
Revenue
¥24.07bn
FY2016FY2025
Net income
¥1.99bn
FY2016FY2025
Free cash flow
¥1.23bn
FY2016FY2025
Shareholders' equity
¥11.16bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥24.07bn | ¥13.16bn | ¥8.63bn | ¥5.42bn | ¥4.09bn | ¥6.15bn | ¥18.83bn | ¥79.15bn | ¥67.02bn | ¥37.92bn |
| Research and development | ¥49.8m | ¥68.0m | ¥20.4m | ¥4.7m | ¥860,000 | ¥1.2m | ¥30.2m | ¥48.6m | ¥134.6m | ¥57.7m |
| Operating income | ¥1.77bn | ¥1.04bn | ¥894.6m | ¥645.4m | ¥300.0m | −¥664.4m | −¥9.67bn | ¥721.9m | ¥5.91bn | ¥3.81bn |
| Net income | ¥1.99bn | ¥912.8m | ¥886.0m | ¥719.4m | ¥373.9m | −¥1.01bn | −¥14.59bn | ¥821.9m | ¥4.00bn | ¥2.35bn |
| Diluted earnings per share | 22.13 | 10.16 | 9.86 | 8.00 | 4.64 | -11.05 | -161.79 | 9.26 | 50.54 | 30.79 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥15.93bn | ¥13.23bn | ¥12.02bn | ¥10.75bn | ¥9.91bn | ¥9.38bn | ¥12.29bn | ¥32.45bn | ¥21.86bn | ¥10.86bn |
| Cash and short-term investments | ¥7.51bn | ¥6.50bn | ¥4.72bn | ¥4.22bn | ¥4.65bn | ¥5.76bn | ¥6.37bn | ¥11.99bn | ¥9.89bn | ¥4.90bn |
| Total liabilities | ¥4.76bn | ¥3.92bn | ¥3.43bn | ¥2.86bn | ¥2.38bn | ¥2.14bn | ¥4.06bn | ¥9.57bn | ¥12.20bn | ¥4.83bn |
| Debt | ¥1.32bn | ¥1.32bn | ¥693.0m | ¥575.2m | ¥371.7m | ¥200.0m | ¥2.65bn | ¥3.40bn | ¥5.01bn | — |
| Shareholders' equity | ¥11.16bn | ¥9.31bn | ¥8.59bn | ¥7.89bn | ¥7.53bn | ¥7.24bn | ¥8.23bn | ¥22.75bn | ¥9.53bn | ¥6.03bn |
| Shares outstanding | 90m | 90m | 90m | 90m | 81m | 91m | 90m | 89m | 79m | 76m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥2.02bn | ¥2.06bn | ¥1.04bn | ¥272.0m | −¥418.1m | ¥2.04bn | −¥5.17bn | −¥6.67bn | ¥3.65bn | ¥2.86bn |
| Capital spending | −¥789.5m | −¥661.9m | −¥303.0m | −¥613.8m | −¥122.5m | −¥130.4m | −¥923.8m | −¥6.64bn | −¥1.45bn | −¥480.6m |
| Free cash flow | ¥1.23bn | ¥1.40bn | ¥740.0m | −¥341.8m | −¥540.6m | ¥1.91bn | −¥6.10bn | −¥13.31bn | ¥2.20bn | ¥2.38bn |
| Dividends paid | −¥180.6m | −¥179.1m | −¥178.0m | −¥179.6m | −¥16.0m | −¥179.6m | −¥677,000 | −¥825.6m | −¥610.8m | −¥152.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥5.83bn | ¥3.40bn | ¥13.14bn | ¥5.91bn | ¥3.38bn | ¥1.63bn | ¥5.20bn | ¥3.20bn |
| Operating income | ¥327.8m | ¥60.0m | ¥1.46bn | ¥236.0m | ¥67.8m | ¥5.5m | ¥337.1m | ¥142.0m |
| Net income | ¥202.0m | ¥37.3m | ¥1.66bn | ¥149.9m | ¥10.5m | ¥167.2m | ¥251.3m | ¥130.9m |
| Diluted earnings per share | 2.27 | 0.42 | 18.49 | 1.67 | 0.12 | 1.86 | 2.80 | 1.46 |
| Total assets | ¥19.37bn | ¥15.65bn | ¥15.93bn | ¥16.09bn | ¥16.01bn | ¥14.39bn | ¥13.23bn | ¥13.37bn |
| Cash and short-term investments | ¥4.01bn | ¥3.65bn | ¥7.51bn | ¥5.08bn | ¥4.63bn | ¥5.33bn | ¥6.50bn | ¥5.21bn |
| Debt | ¥5.00bn | ¥1.20bn | ¥1.32bn | ¥2.29bn | ¥3.69bn | ¥1.23bn | ¥562.7m | ¥638.1m |
| Shareholders' equity | ¥11.12bn | ¥10.91bn | ¥11.16bn | ¥9.49bn | ¥9.40bn | ¥9.38bn | ¥9.31bn | ¥9.04bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 7.3% | 7.8% | 10.4% | 11.9% | 7.3% | -10.8% |
| Net margin | 8.3% | 6.9% | 10.3% | 13.3% | 9.1% | -16.4% |
| Return on equity | 17.8% | 9.8% | 10.3% | 9.1% | 5.0% | -13.9% |
| Return on assets | 12.5% | 6.9% | 7.4% | 6.7% | 3.8% | -10.7% |
| Free cash flow yield | 17.3% | 16.8% | 8.3% | 5.5% | -2.0% | 13.2% |
| Revenue growth | 82.9% | 52.6% | 59.1% | 32.5% | -33.5% | -67.4% |
| Earnings growth | 118.0% | 3.0% | 23.2% | 92.4% | -137.1% | -93.1% |
| Current ratio | 2.82x | 3.25x | 2.88x | 3.34x | 3.99x | 4.13x |
| Debt to equity | 0.12x | 0.14x | 0.08x | 0.07x | 0.05x | 0.03x |
| Equity ratio | 70.1% | 70.3% | 71.5% | 73.4% | 76.0% | 77.2% |
| Interest coverage | 20.08x | 47.27x | 63.72x | 88.07x | 2999.87x | -18.92x |
| R&D as a share of sales | 0.2% | 0.5% | 0.2% | 0.1% | 0.0% | 0.0% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | -11.6% | 11.6% | -1.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 64.4% | 31.4% | 1.1% |
| Operating income | 39.9% | — | -0.7% |
| Net income | 40.4% | — | 5.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 7.5% | 8.5% | 6.5% | 2.3% |
| Net margin | 7.8% | 8.8% | 6.3% | -0.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 8.0 | 13.0 | 17.3 | 20.4 | 50.0 | -15.9 | -1.3 | 33.2 | 33.1 | 26.6 |
| Price to sales | 0.7 | 0.9 | 1.8 | 2.7 | 4.6 | 2.6 | 1.0 | 0.3 | 2.0 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 3.00 | 2.00 | 2.00 | 2.00 | 10.00 | 7.00 | 1.50 |
- 5-for-1 split · 27 Dec 2017
- 2-for-1 split · 28 Jun 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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