S 
124
+4.20%
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
¥960.1m
FY2017FY2026
Net income
−¥99.5m
FY2017FY2026
Free cash flow
−¥240.1m
FY2017FY2026
Shareholders' equity
¥1.82bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥960.1m | ¥823.6m | ¥889.5m | ¥763.8m | ¥377.8m | ¥310.1m | ¥291.0m | ¥471.5m | ¥1.23bn | ¥1.74bn |
| Research and development | — | ¥9.1m | ¥5.0m | ¥6.7m | ¥1.0m | ¥1.7m | ¥29.0m | — | ¥2.0m | ¥4.0m |
| Operating income | −¥106.6m | ¥28.7m | −¥334.5m | −¥52.0m | −¥17.6m | ¥29.8m | −¥190.7m | −¥281.0m | −¥851.0m | −¥723.4m |
| Net income | −¥99.5m | −¥81.2m | −¥317.0m | −¥59.4m | −¥29.1m | ¥54.3m | −¥193.0m | −¥272.6m | −¥1.74bn | −¥666.0m |
| Diluted earnings per share | -1.91 | -1.56 | -10.27 | -1.92 | -0.95 | 1.77 | -7.00 | -10.12 | -73.01 | -29.89 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥2.21bn | ¥1.71bn | ¥515.5m | ¥2.02bn | ¥819.7m | ¥418.1m | ¥340.9m | ¥437.1m | ¥433.8m | ¥4.27bn |
| Cash and short-term investments | ¥1.70bn | ¥1.42bn | ¥206.0m | ¥157.0m | ¥292.5m | ¥217.2m | ¥181.7m | ¥205.0m | ¥102.0m | ¥1.04bn |
| Total liabilities | ¥342.3m | ¥417.8m | ¥343.8m | ¥1.52bn | ¥264.1m | ¥213.0m | ¥197.6m | ¥275.6m | ¥522.9m | ¥2.97bn |
| Debt | — | — | ¥10.0m | ¥20.4m | ¥32.5m | — | ¥1.4m | ¥54.0m | ¥214.3m | ¥1.55bn |
| Shareholders' equity | ¥1.82bn | ¥1.23bn | ¥132.4m | ¥425.0m | ¥484.2m | ¥205.2m | ¥143.4m | ¥161.5m | −¥96.1m | ¥1.28bn |
| Shares outstanding | 52m | 52m | 31m | 31m | 31m | 31m | 28m | 27m | 24m | 22m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥220.0m | ¥60.7m | ¥64.9m | −¥44.9m | ¥9.2m | ¥47.2m | −¥168.0m | −¥368.0m | −¥591.0m | ¥67.0m |
| Capital spending | −¥20.1m | −¥20.4m | −¥31.6m | −¥78.9m | −¥53.5m | −¥44.7m | −¥10.0m | −¥5.0m | −¥201.0m | −¥22.0m |
| Free cash flow | −¥240.1m | ¥40.3m | ¥33.4m | −¥123.8m | −¥44.3m | ¥2.5m | −¥178.0m | −¥373.0m | −¥792.0m | ¥45.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥236.9m | ¥340.5m | ¥210.0m | ¥207.5m | ¥202.1m | ¥223.3m | ¥207.0m | ¥230.0m |
| Operating income | −¥12.3m | −¥10.8m | −¥76.2m | −¥19.5m | −¥2.7m | ¥16.3m | ¥17.0m | ¥31.0m |
| Net income | −¥19.8m | −¥3.2m | −¥70.0m | −¥10.7m | −¥15.6m | −¥84.0m | ¥26.0m | ¥19.0m |
| Diluted earnings per share | -0.38 | -0.06 | -1.35 | -0.21 | -0.30 | -1.62 | 0.84 | 0.62 |
| Cash from operations | — | — | — | ¥20.0m | — | — | — | — |
| Capital spending | — | — | — | −¥25.0m | — | — | — | — |
| Free cash flow | — | — | — | −¥5.0m | — | — | — | — |
| Total assets | ¥2.23bn | ¥2.21bn | ¥2.19bn | ¥2.24bn | ¥2.25bn | ¥1.71bn | ¥453.8m | ¥426.0m |
| Cash and short-term investments | ¥1.65bn | ¥1.70bn | ¥1.80bn | ¥1.94bn | ¥2.01bn | ¥1.42bn | ¥225.5m | ¥184.5m |
| Debt | — | — | — | — | — | — | ¥2.5m | ¥4.1m |
| Shareholders' equity | ¥1.80bn | ¥1.82bn | ¥1.82bn | ¥1.89bn | ¥1.90bn | ¥1.23bn | ¥135.1m | ¥108.2m |
Financial ratios
Data as of 28 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -11.1% | 3.5% | -37.6% | -6.8% | -4.7% | 9.6% | — | — |
| Net margin | -10.4% | -9.9% | -35.6% | -7.8% | -7.7% | 17.5% | — | — |
| Return on equity | -5.5% | -6.6% | -239.5% | -14.0% | -6.0% | 26.5% | — | — |
| Return on assets | -4.5% | -4.8% | -61.5% | -2.9% | -3.5% | 13.0% | — | — |
| Free cash flow yield | -2.6% | 1.1% | 2.1% | 0.8% | 1.4% | 2.1% | — | — |
| Revenue growth | 16.6% | -7.4% | 16.5% | 102.2% | 21.8% | 6.6% | — | — |
| Earnings growth | 22.6% | -74.4% | 433.6% | 104.4% | -153.5% | -128.1% | — | — |
| Current ratio | 13.55x | 6.51x | 2.33x | 3.54x | 4.89x | 5.49x | — | — |
| Debt to equity | — | — | 0.08x | 0.05x | 0.07x | 0.00x | 0.01x | 0.33x |
| Equity ratio | 82.1% | 72.1% | 25.7% | 21.1% | 59.1% | 49.1% | — | — |
| Interest coverage | — | 427.93x | -1348.96x | -81.96x | -142.10x | 3728.00x | -220.23x | — |
| R&D as a share of sales | — | 1.1% | 0.6% | 0.9% | 0.3% | 0.5% | 10.0% | — |
| Buybacks as a share of market value | -0.0% | -68.3% | 0.0% | -0.7% | 0.0% | -11.3% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.9% | 25.4% | 10.7% |
| Operating income | 27.0% | — | -13.5% |
| Net income | 18.7% | — | -14.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -4.4% | -13.5% | -11.0% | -36.0% |
| Net margin | -10.1% | -16.2% | -12.9% | -47.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -68.5 | -136.4 | -10.1 | -42.1 | -90.8 | 55.9 | -18.1 | -12.4 | -1.4 | -5.1 |
| Price to sales | 7.1 | 13.4 | 3.6 | 3.3 | 7.0 | 9.8 | 12.0 | 7.2 | 2.0 | 1.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 100-for-1 split · 27 Mar 2014
- 4-for-1 split · 27 Sept 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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