E 
446
-5.11%
Close of 9 Nov 2026, in JPY
Search any instrument
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
¥14.16bn
FY2017FY2026
Net income
−¥517.8m
FY2017FY2026
Free cash flow
—
FY2017FY2026
Shareholders' equity
¥3.51bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥14.16bn | ¥3.55bn | ¥3.82bn | ¥3.56bn | ¥2.09bn | ¥1.44bn | ¥1.84bn | ¥1.96bn | ¥1.55bn | ¥1.16bn |
| Gross profit | ¥4.59bn | ¥1.01bn | ¥1.10bn | ¥819.4m | ¥639.5m | ¥395.6m | ¥737.8m | ¥822.4m | ¥769.8m | ¥615.3m |
| Operating income | ¥200.6m | −¥489.7m | ¥39.1m | ¥55.1m | −¥40.3m | −¥295.2m | ¥26.7m | ¥78.4m | ¥169.6m | ¥116.1m |
| Net income | −¥517.8m | −¥493.2m | ¥36.6m | ¥36.8m | −¥147.3m | −¥631.0m | ¥937,000 | ¥58.9m | ¥91.0m | ¥127.6m |
| Diluted earnings per share | -11.85 | -12.91 | 1.38 | 1.39 | -6.03 | -26.33 | 0.04 | 2.55 | 3.89 | 4.99 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥11.06bn | ¥1.05bn | ¥1.34bn | ¥1.45bn | ¥751.7m | ¥766.5m | ¥1.44bn | ¥1.47bn | ¥1.45bn | ¥706.4m |
| Cash and short-term investments | ¥1.31bn | ¥375.7m | ¥257.6m | ¥457.6m | ¥392.2m | ¥421.0m | ¥802.5m | ¥761.0m | ¥790.6m | ¥116.2m |
| Total liabilities | ¥7.55bn | ¥736.1m | ¥533.2m | ¥757.7m | ¥313.2m | ¥228.0m | ¥290.0m | ¥328.9m | ¥365.0m | ¥387.5m |
| Debt | ¥180.0m | ¥220.0m | — | — | — | — | — | ¥20.6m | ¥110.6m | ¥192.9m |
| Shareholders' equity | ¥3.51bn | ¥310.5m | ¥803.7m | ¥691.6m | ¥438.5m | ¥538.5m | ¥1.15bn | ¥1.15bn | ¥1.08bn | ¥318.9m |
| Shares outstanding | 44m | 38m | 26m | 26m | 24m | 24m | 23m | 23m | 23m | 26m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥934.9m | −¥18.2m | ¥94.9m | ¥125.6m | ¥1.4m | −¥249.9m | ¥190.5m | ¥164.6m | ¥202.3m | ¥169.7m |
| Capital spending | −¥934.9m | −¥105.3m | −¥7.6m | −¥113.4m | −¥72.5m | −¥139.6m | −¥135.8m | −¥4.9m | −¥5.7m | −¥1.9m |
| Free cash flow | — | −¥123.5m | ¥87.3m | ¥12.2m | −¥71.0m | −¥389.5m | ¥54.7m | ¥159.7m | ¥196.5m | ¥167.9m |
| Dividends paid | — | — | — | — | — | — | −¥614,000 | −¥5.7m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥6.17bn | ¥6.50bn | ¥4.13bn | ¥2.40bn | ¥1.13bn | ¥1.02bn | ¥937.0m | ¥766.3m |
| Gross profit | ¥1.83bn | ¥2.03bn | ¥1.44bn | ¥774.5m | ¥350.8m | ¥302.9m | ¥313.7m | ¥204.2m |
| Operating income | ¥16.5m | ¥66.0m | ¥66.9m | ¥25.3m | ¥42.5m | ¥52.8m | ¥30.6m | −¥46.9m |
| Net income | ¥17.0m | −¥500.7m | −¥78.6m | ¥20.8m | ¥40.7m | ¥49.3m | ¥30.3m | −¥524.3m |
| Diluted earnings per share | 0.39 | -11.46 | -2.06 | 0.55 | 1.07 | 1.29 | 1.15 | -19.83 |
| Total assets | ¥12.43bn | ¥11.06bn | ¥6.22bn | ¥2.67bn | ¥1.82bn | ¥1.05bn | ¥906.4m | ¥918.0m |
| Cash and short-term investments | ¥2.86bn | ¥1.31bn | ¥1.85bn | ¥1.50bn | ¥1.12bn | ¥375.7m | ¥371.3m | ¥404.0m |
| Debt | ¥80.0m | ¥180.0m | ¥80.0m | ¥200.0m | ¥80.0m | ¥220.0m | ¥80.0m | ¥240.0m |
| Shareholders' equity | ¥4.45bn | ¥3.51bn | ¥2.90bn | ¥799.6m | ¥620.5m | ¥310.5m | ¥261.3m | ¥230.0m |
Financial ratios
Data as of 30 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 32.4% | 28.5% | 28.8% | 23.0% | 30.6% | 27.5% |
| Operating margin | 1.4% | -13.8% | 1.0% | 1.5% | -1.9% | -20.5% |
| Net margin | -3.7% | -13.9% | 1.0% | 1.0% | -7.1% | -43.8% |
| Return on equity | -14.8% | -158.8% | 4.6% | 5.3% | -33.6% | -117.2% |
| Return on assets | -4.7% | -47.1% | 2.7% | 2.5% | -19.6% | -82.3% |
| Free cash flow yield | 7.7% | 0.4% | 0.7% | 1.6% | 0.5% | -0.8% |
| Revenue growth | 299.0% | -7.0% | 7.1% | 70.8% | 45.0% | -22.0% |
| Earnings growth | 5.0% | -1446.8% | -0.5% | -125.0% | -76.7% | -67440.2% |
| Current ratio | 1.29x | 1.54x | 1.43x | 1.52x | 2.35x | 3.03x |
| Debt to equity | 0.05x | 0.71x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 31.7% | 29.7% | 60.1% | 47.7% | 58.3% | 70.3% |
| Interest coverage | 71.67x | -365.20x | 39.10x | 1059.29x | -1612.84x | -19680.33x |
| Buybacks as a share of market value | -14.4% | -44.5% | 0.1% | -8.5% | -1.9% | -2.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 58.4% | 58.0% | 31.0% |
| Operating income | 53.9% | — | 26.5% |
| Net income | — | -3.9% | 12.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 31.6% | 30.0% | 29.9% | 33.2% |
| Operating margin | -1.6% | -0.8% | -1.9% | -0.3% |
| Net margin | -5.7% | -3.7% | -6.0% | -4.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -38.6 | -31.9 | 33.9 | 79.1 | -15.4 | -4.8 | — | 100.7 | 28.9 | 84.9 |
| Price to sales | 1.4 | 4.4 | 0.3 | 0.8 | 1.1 | 2.1 | 1.7 | 3.0 | 1.7 | 9.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-for-1 split · 11 Nov 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.