I 
100
+42.86%
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
¥866.6m
FY2016FY2025
Net income
−¥559.3m
FY2016FY2025
Free cash flow
−¥421.2m
FY2016FY2025
Shareholders' equity
¥717.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥866.6m | ¥1.56bn | ¥2.98bn | ¥3.30bn | ¥2.44bn | ¥1.98bn | ¥1.88bn | ¥1.65bn | ¥1.39bn | ¥1.48bn |
| Research and development | ¥5.5m | ¥3.5m | ¥15.9m | — | — | ¥6.6m | — | — | — | ¥3.4m |
| Operating income | −¥412.5m | −¥857.1m | −¥695.6m | −¥478.5m | −¥399.3m | −¥534.6m | ¥354.5m | ¥36.4m | −¥85.7m | ¥27.5m |
| Net income | −¥559.3m | −¥889.6m | −¥643.5m | −¥493.5m | −¥512.6m | −¥777.0m | ¥243.1m | ¥8.4m | −¥120.7m | ¥10.8m |
| Diluted earnings per share | -43.15 | -82.92 | -59.98 | -46.00 | -50.12 | -94.42 | 36.80 | 1.27 | -22.59 | 2.31 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.39bn | ¥1.57bn | ¥2.67bn | ¥3.06bn | ¥2.77bn | ¥2.07bn | ¥3.43bn | ¥2.20bn | ¥1.39bn | ¥1.49bn |
| Cash and short-term investments | ¥562.7m | ¥553.8m | ¥875.9m | ¥630.4m | ¥1.64bn | ¥945.1m | ¥1.29bn | ¥879.4m | ¥377.7m | ¥903.4m |
| Total liabilities | ¥674.8m | ¥833.7m | ¥1.02bn | ¥759.5m | ¥304.9m | ¥363.9m | ¥1.53bn | ¥536.2m | ¥548.0m | ¥639.8m |
| Debt | ¥6.2m | ¥16.2m | ¥29.3m | ¥96.5m | ¥135.4m | ¥155.4m | ¥1.22bn | ¥172.7m | ¥242.4m | ¥282.5m |
| Shareholders' equity | ¥717.7m | ¥735.5m | ¥1.65bn | ¥2.30bn | ¥2.46bn | ¥1.71bn | ¥1.90bn | ¥1.66bn | ¥838.5m | ¥851.2m |
| Shares outstanding | 13m | 11m | 11m | 11m | 10m | 8m | 7m | 7m | 5m | 5m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥419.4m | −¥207.2m | ¥39.1m | −¥318.3m | −¥521.1m | ¥157.4m | −¥20.1m | ¥27.6m | −¥418.7m | ¥122.7m |
| Capital spending | −¥1.8m | −¥5.7m | −¥8.2m | −¥789.3m | −¥14.4m | −¥314.6m | −¥8.5m | −¥14.5m | −¥5.6m | −¥2.4m |
| Free cash flow | −¥421.2m | −¥212.9m | ¥30.9m | −¥1.11bn | −¥535.5m | −¥157.2m | −¥28.5m | ¥13.1m | −¥424.4m | ¥120.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥109.0m | ¥154.0m | ¥170.9m | ¥129.1m | ¥146.8m | ¥216.8m | ¥373.9m | ¥138.6m |
| Operating income | −¥192.1m | −¥133.5m | −¥124.0m | −¥129.9m | −¥121.5m | −¥83.6m | −¥77.6m | −¥480.9m |
| Net income | −¥224.4m | −¥17.5m | −¥135.3m | −¥158.3m | −¥152.0m | −¥172.0m | −¥77.0m | −¥419.3m |
| Diluted earnings per share | -14.85 | -1.16 | -10.44 | -12.22 | -11.73 | -13.27 | -7.17 | -39.08 |
| Total assets | ¥1.59bn | ¥1.81bn | ¥1.31bn | ¥1.39bn | ¥1.15bn | ¥1.26bn | ¥1.43bn | ¥1.57bn |
| Cash and short-term investments | ¥620.7m | ¥821.3m | ¥394.3m | ¥562.7m | ¥275.3m | ¥291.6m | ¥337.0m | ¥553.8m |
| Debt | — | ¥1.1m | ¥3.6m | ¥6.2m | ¥8.7m | ¥11.2m | ¥10.1m | ¥10.1m |
| Shareholders' equity | ¥895.5m | ¥1.12bn | ¥593.8m | ¥717.7m | ¥335.8m | ¥492.6m | ¥674.6m | ¥735.5m |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2016 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -47.6% | -54.8% | -23.4% | -9.5% | -16.4% | -27.0% | — | — |
| Net margin | -64.5% | -56.9% | -21.6% | -14.9% | -21.0% | -39.2% | — | — |
| Return on equity | -77.9% | -120.9% | -38.9% | -21.5% | -20.8% | -45.5% | — | — |
| Return on assets | -40.2% | -56.7% | -24.1% | -16.1% | -18.5% | -37.5% | — | — |
| Free cash flow yield | -39.3% | -22.9% | 5.4% | 53.5% | -60.4% | 70.0% | — | — |
| Revenue growth | -44.6% | -47.5% | -9.9% | 35.5% | 23.0% | 5.3% | — | — |
| Earnings growth | -37.1% | 38.2% | 30.4% | -3.7% | -34.0% | -419.6% | — | — |
| Current ratio | 1.64x | 1.56x | 2.27x | 2.63x | 9.55x | 5.18x | — | — |
| Debt to equity | 0.01x | 0.02x | 0.02x | 0.04x | 0.06x | 0.09x | — | — |
| Equity ratio | 51.5% | 46.9% | 61.8% | 75.2% | 89.0% | 82.4% | — | — |
| Interest coverage | -2104.65x | -2261.51x | -736.04x | -159.94x | -165.13x | -29.93x | — | — |
| R&D as a share of sales | 0.6% | 0.2% | 0.5% | — | — | 0.3% | 0.2% | 0.0% |
| Buybacks as a share of market value | -20.8% | 0.0% | 0.0% | -4.9% | -24.3% | -24.6% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -36.0% | -15.2% | -3.5% |
| Operating income | -4.8% | -5.1% | 12.6% |
| Net income | 4.3% | -6.4% | 12.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -52.3% | -28.1% | -25.7% | -15.3% |
| Net margin | -59.6% | -29.7% | -29.5% | -18.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.2 | -3.0 | -5.5 | -13.8 | -15.8 | -7.5 | 19.7 | — | -21.3 | 153.6 |
| Price to sales | 2.7 | 1.7 | 1.2 | 2.1 | 3.3 | 2.9 | 2.5 | 2.6 | 1.9 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Sept 2006.
| FY2006 | FY2005 | FY2004 | FY2003 | FY2002 | |
|---|---|---|---|---|---|
| Paid in the year | 12.50 | 12.50 | 17.50 | 21.25 | 12.50 |
- 100-for-1 split · 27 Mar 2014
- 2-for-1 split · 26 May 2005
- 2-for-1 split · 26 May 2004
- 1.5-for-1 split · 27 Mar 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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