A 
97
-4.90%
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
¥254.5m
FY2017FY2026
Net income
−¥42.3m
FY2017FY2026
Free cash flow
−¥65.2m
FY2017FY2026
Shareholders' equity
¥307.3m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥254.5m | ¥268.9m | ¥441.5m | ¥454.5m | ¥500.3m | ¥1.03bn | ¥1.93bn | ¥1.88bn | ¥1.90bn | ¥1.92bn |
| Operating income | −¥57.1m | −¥86.6m | −¥93.0m | −¥91.4m | −¥40.8m | −¥162.7m | −¥15.4m | ¥345,000 | ¥10.4m | ¥34.2m |
| Net income | −¥42.3m | −¥115.1m | −¥138.5m | −¥89.0m | ¥4.0m | −¥111.0m | −¥48.1m | ¥22.5m | ¥1.0m | ¥26.5m |
| Diluted earnings per share | -5.64 | -15.35 | -18.46 | -11.87 | 0.53 | -14.79 | -6.41 | 3.00 | 0.13 | 3.53 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥668.8m | ¥760.1m | ¥953.2m | ¥994.0m | ¥1.03bn | ¥916.9m | ¥1.09bn | ¥1.24bn | ¥1.01bn | ¥1.04bn |
| Cash and short-term investments | ¥421.6m | ¥443.0m | ¥506.3m | ¥545.5m | ¥566.9m | ¥459.5m | ¥523.1m | ¥608.6m | ¥444.8m | ¥442.6m |
| Total liabilities | ¥361.5m | ¥425.5m | ¥499.3m | ¥422.0m | ¥392.4m | ¥301.4m | ¥386.6m | ¥480.9m | ¥265.3m | ¥289.9m |
| Debt | ¥210.2m | ¥228.7m | ¥245.7m | ¥218.4m | ¥192.5m | ¥131.8m | ¥122.4m | ¥167.9m | — | ¥104,000 |
| Shareholders' equity | ¥307.3m | ¥334.6m | ¥453.9m | ¥571.9m | ¥642.1m | ¥615.6m | ¥704.1m | ¥758.1m | ¥742.2m | ¥746.5m |
| Shares outstanding | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥32.6m | −¥47.4m | −¥110.4m | −¥83.4m | ¥3.5m | −¥188.1m | ¥9.7m | ¥68.2m | −¥16.6m | −¥4.5m |
| Capital spending | −¥32.6m | — | −¥4.0m | −¥1.9m | −¥250,000 | −¥2.5m | −¥17.5m | −¥17.0m | −¥4.5m | −¥20.0m |
| Free cash flow | −¥65.2m | −¥47.4m | −¥114.4m | −¥85.4m | ¥3.2m | −¥190.5m | −¥7.8m | ¥51.2m | −¥21.1m | −¥24.5m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥43.1m | ¥98.0m | ¥55.7m | ¥51.2m | ¥49.7m | ¥63.8m | ¥73.8m | ¥71.0m |
| Operating income | −¥15.3m | −¥10.8m | −¥6.5m | −¥16.7m | −¥23.0m | −¥62.9m | ¥9.5m | −¥14.2m |
| Net income | −¥16.8m | −¥18.1m | ¥8.3m | −¥8.7m | −¥23.9m | −¥86.3m | ¥9.9m | −¥14.4m |
| Diluted earnings per share | -2.24 | -2.42 | 1.11 | -1.16 | -3.18 | -11.51 | 1.31 | -1.92 |
| Cash from operations | — | −¥32.0m | — | — | — | — | — | — |
| Capital spending | — | −¥32.0m | — | — | — | — | — | — |
| Free cash flow | — | −¥64.0m | — | — | — | — | — | — |
| Total assets | ¥612.0m | ¥668.8m | ¥667.4m | ¥688.1m | ¥704.0m | ¥760.1m | ¥792.7m | ¥799.0m |
| Cash and short-term investments | ¥391.3m | ¥421.6m | ¥385.7m | ¥371.8m | ¥388.8m | ¥443.0m | ¥438.8m | ¥444.9m |
| Debt | ¥22.1m | ¥210.2m | ¥23.0m | ¥219.6m | ¥21.0m | ¥228.7m | ¥18.2m | ¥237.8m |
| Shareholders' equity | ¥291.7m | ¥307.3m | ¥321.9m | ¥307.0m | ¥309.1m | ¥334.6m | ¥427.2m | ¥412.9m |
Financial ratios
Data as of 1 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -22.4% | -32.2% | -21.1% | -20.1% | -8.1% | -15.8% | — |
| Net margin | -16.6% | -42.8% | -31.4% | -19.6% | 0.8% | -10.7% | — |
| Return on equity | -13.8% | -34.4% | -30.5% | -15.6% | 0.6% | -18.0% | — |
| Return on assets | -6.3% | -15.1% | -14.5% | -9.0% | 0.4% | -12.1% | — |
| Free cash flow yield | 0.0% | — | -10.7% | -8.2% | 0.4% | -18.6% | 2.7% |
| Revenue growth | -5.3% | -39.1% | -2.9% | -9.1% | -51.6% | -46.4% | — |
| Earnings growth | -63.2% | -16.9% | 55.6% | -2322.6% | -103.6% | 130.8% | — |
| Current ratio | 3.63x | 3.04x | 3.08x | 4.60x | 4.25x | 3.82x | — |
| Debt to equity | 0.68x | 0.68x | 0.54x | 0.38x | 0.30x | 0.21x | — |
| Equity ratio | 45.9% | 44.0% | 47.6% | 57.5% | 62.1% | 67.1% | — |
| Interest coverage | -13.25x | -22.91x | -30.69x | -41.42x | -6.96x | -290.10x | — |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -17.6% | -24.4% | -18.0% |
| Operating income | -14.5% | -18.9% | — |
| Net income | -22.0% | -17.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -27.4% | -23.1% | -18.0% | -3.9% |
| Net margin | -30.1% | -27.1% | -16.7% | -3.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -18.4 | -14.9 | -9.7 | -17.7 | 295.9 | -13.1 | -34.5 | 77.3 | — | 84.2 |
| Price to sales | 3.1 | 6.4 | 3.0 | 3.5 | 2.4 | 1.4 | 0.9 | 0.9 | 0.8 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 May 2012.
| FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | |
|---|---|---|---|---|---|---|
| Paid in the year | 1.50 | 1.00 | 3.00 | 4.00 | 9.00 | 10.00 |
- 100-for-1 split · 28 Nov 2012
- 4-for-1 split · 26 Jan 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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