H 
2,851
+5.59%
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
¥3.03bn
FY2022FY2025
Net income
¥163.4m
FY2022FY2025
Free cash flow
¥1.05bn
FY2022FY2025
Shareholders' equity
¥7.57bn
FY2022FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Revenue | ¥3.03bn | ¥873.6m | ¥344.7m | ¥499.1m |
| Gross profit | ¥3.03bn | ¥873.6m | ¥344.7m | ¥499.1m |
| Research and development | ¥2.28bn | ¥1.44bn | ¥1.36bn | ¥1.57bn |
| Operating income | ¥233.3m | −¥1.04bn | −¥1.46bn | −¥1.46bn |
| Net income | ¥163.4m | −¥812.7m | −¥1.47bn | −¥1.41bn |
| Diluted earnings per share | 7.12 | -36.57 | -64.35 | -61.70 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Total assets | ¥8.14bn | ¥7.07bn | ¥5.72bn | ¥4.94bn |
| Cash and short-term investments | ¥7.34bn | ¥5.30bn | ¥4.59bn | ¥3.99bn |
| Total liabilities | ¥571.4m | ¥444.3m | ¥450.2m | ¥208.4m |
| Debt | ¥890,000 | ¥5.4m | ¥11.6m | ¥31.0m |
| Shareholders' equity | ¥7.57bn | ¥6.62bn | ¥5.27bn | ¥4.73bn |
| Shares outstanding | 23m | 22m | 23m | 23m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Cash from operations | ¥1.08bn | −¥1.34bn | −¥797.9m | −¥1.92bn |
| Capital spending | −¥28.7m | −¥14.0m | −¥327.8m | — |
| Free cash flow | ¥1.05bn | −¥1.36bn | −¥1.13bn | −¥1.92bn |
Latest quarters
By quarter end
| Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | Jul 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.5m | ¥465.9m | ¥1.11bn | — | ¥1.92bn | — | ¥720.4m | — |
| Gross profit | −¥10.5m | ¥465.9m | ¥1.14bn | −¥10.9m | ¥1.91bn | −¥10.0m | ¥720.4m | −¥10.5m |
| Operating income | −¥546.4m | −¥75.2m | ¥375.4m | −¥1.04bn | ¥1.38bn | −¥485.4m | ¥175.0m | −¥493.7m |
| Net income | −¥496.1m | −¥58.2m | ¥349.0m | −¥463.6m | ¥1.19bn | −¥478.7m | ¥275.9m | −¥368.4m |
| Diluted earnings per share | -21.67 | -2.54 | 15.20 | -20.19 | 51.65 | -20.85 | 12.41 | -16.57 |
| Cash from operations | — | — | ¥1.08bn | — | — | — | — | — |
| Capital spending | — | — | −¥28.0m | — | — | — | — | — |
| Free cash flow | — | — | ¥1.05bn | — | — | — | — | — |
| Total assets | ¥7.04bn | ¥7.61bn | ¥8.14bn | ¥7.71bn | ¥8.08bn | ¥6.63bn | ¥7.07bn | ¥6.57bn |
| Cash and short-term investments | ¥6.34bn | ¥6.41bn | ¥7.34bn | ¥6.92bn | ¥7.00bn | ¥5.67bn | ¥5.30bn | ¥5.58bn |
| Debt | — | — | ¥890,000 | ¥2.0m | ¥3.2m | ¥4.3m | ¥4.6m | ¥4.8m |
| Shareholders' equity | ¥6.66bn | ¥7.15bn | ¥7.57bn | ¥7.20bn | ¥7.53bn | ¥6.22bn | ¥6.62bn | ¥6.10bn |
Financial ratios
Data as of 18 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 7.7% | -118.9% | -423.4% | -292.3% |
| Net margin | 5.4% | -93.0% | -427.4% | -283.1% |
| Return on equity | 2.2% | -12.3% | -28.0% | -29.9% |
| Return on assets | 2.0% | -11.5% | -25.8% | -28.6% |
| Free cash flow yield | 1.8% | -2.3% | — | — |
| Revenue growth | 246.4% | 153.4% | -30.9% | — |
| Earnings growth | -120.1% | -44.8% | 4.3% | — |
| Current ratio | 18.48x | 22.70x | 20.60x | 34.55x |
| Debt to equity | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 93.0% | 93.7% | 92.1% | 95.8% |
| Interest coverage | 1711.68x | -2539.86x | -1956.59x | -1293.08x |
| R&D as a share of sales | 75.3% | 165.0% | 394.6% | 314.7% |
| Buybacks as a share of market value | -3.3% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 82.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | 253.5 | -78.4 |
| Price to sales | 13.7 | 73.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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