C 
2,999
-1.19%
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
¥37.08bn
FY2021FY2025
Net income
¥3.46bn
FY2021FY2025
Free cash flow
−¥5.76bn
FY2021FY2025
Shareholders' equity
¥17.44bn
FY2021FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | ¥37.08bn | ¥20.98bn | ¥14.47bn | ¥11.01bn | ¥10.00bn |
| Gross profit | ¥8.66bn | ¥5.67bn | ¥3.85bn | ¥3.29bn | ¥2.24bn |
| Operating income | ¥6.03bn | ¥3.89bn | ¥2.72bn | ¥2.19bn | ¥1.19bn |
| Net income | ¥3.46bn | ¥2.24bn | ¥1.52bn | ¥1.17bn | ¥682.0m |
| Diluted earnings per share | 478.52 | 322.35 | 227.40 | 151.82 | 88.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Total assets | ¥66.88bn | ¥52.19bn | ¥32.00bn | ¥26.98bn | ¥19.26bn |
| Cash and short-term investments | ¥7.89bn | ¥4.29bn | ¥3.16bn | ¥3.07bn | ¥3.29bn |
| Total liabilities | ¥49.44bn | ¥40.09bn | ¥24.86bn | ¥21.18bn | ¥14.55bn |
| Debt | ¥46.80bn | ¥37.65bn | ¥23.26bn | ¥19.66bn | ¥13.60bn |
| Shareholders' equity | ¥17.44bn | ¥12.10bn | ¥7.14bn | ¥5.80bn | ¥4.71bn |
| Shares outstanding | 7m | 7m | 7m | 8m | 8m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash from operations | −¥4.32bn | −¥14.35bn | −¥1.57bn | −¥5.48bn | −¥2.17bn |
| Capital spending | −¥1.45bn | −¥1.57bn | −¥1.14bn | −¥389.0m | −¥1.70bn |
| Free cash flow | −¥5.76bn | −¥15.92bn | −¥2.71bn | −¥5.87bn | −¥3.87bn |
| Dividends paid | −¥399.0m | −¥227.0m | −¥174.0m | −¥92.0m | −¥100.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥9.81bn | ¥10.14bn | ¥8.38bn | ¥18.98bn | ¥4.30bn | ¥5.42bn | ¥4.14bn | ¥9.85bn |
| Gross profit | ¥2.81bn | ¥2.00bn | ¥1.91bn | ¥4.21bn | ¥1.06bn | ¥1.49bn | ¥1.35bn | ¥2.44bn |
| Operating income | ¥1.99bn | ¥1.29bn | ¥1.14bn | ¥3.62bn | ¥422.0m | ¥853.0m | ¥862.0m | ¥1.96bn |
| Net income | ¥1.35bn | ¥616.0m | ¥472.0m | ¥2.30bn | ¥182.0m | ¥513.0m | ¥544.0m | ¥1.13bn |
| Diluted earnings per share | 174.58 | 79.66 | 65.20 | 317.31 | 25.14 | 70.87 | 78.35 | 163.05 |
| Total assets | ¥80.31bn | ¥76.51bn | ¥66.88bn | ¥59.00bn | ¥61.33bn | ¥59.85bn | ¥52.19bn | ¥41.72bn |
| Cash and short-term investments | ¥8.93bn | ¥5.73bn | ¥7.89bn | ¥8.38bn | ¥3.48bn | ¥4.73bn | ¥4.29bn | ¥6.49bn |
| Debt | ¥58.12bn | ¥24.50bn | ¥46.80bn | ¥17.73bn | ¥46.88bn | ¥14.06bn | ¥7.13bn | ¥6.70bn |
| Shareholders' equity | ¥18.68bn | ¥17.46bn | ¥17.44bn | ¥14.71bn | ¥12.40bn | ¥12.21bn | ¥12.10bn | ¥11.55bn |
Financial ratios
Data as of 21 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Gross margin | 23.3% | 27.0% | 26.6% | 29.9% | 22.4% |
| Operating margin | 16.3% | 18.6% | 18.8% | 19.9% | 11.9% |
| Net margin | 9.3% | 10.7% | 10.5% | 10.7% | 6.8% |
| Return on equity | 19.9% | 18.5% | 21.2% | 20.2% | 14.5% |
| Return on assets | 5.2% | 4.3% | 4.7% | 4.4% | 3.5% |
| Free cash flow yield | -10.9% | -50.7% | -1.8% | — | — |
| Revenue growth | 76.8% | 45.0% | 31.4% | 10.1% | — |
| Earnings growth | 54.8% | 47.6% | 29.1% | 72.1% | — |
| Current ratio | 2.41x | 4.47x | 2.46x | 3.17x | 2.47x |
| Debt to equity | 2.68x | 3.11x | 3.26x | 3.39x | 2.88x |
| Equity ratio | 26.1% | 23.2% | 22.3% | 21.5% | 24.5% |
| Interest coverage | 6.58x | 9.83x | 8.29x | 6.48x | 5.33x |
| Buybacks as a share of market value | -4.3% | -4.1% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 50.2% | — | — |
| Operating income | 40.1% | — | — |
| Net income | 43.4% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.7% | 25.7% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | 7.2 | 5.9 |
| Price to sales | 0.7 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | |
|---|---|
| Paid in the year | 135.50 |
- 2-for-1 split · 30 Jul 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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