C 
407
+3.30%
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
¥37.80bn
FY2020FY2026
Net income
¥1.94bn
FY2020FY2026
Free cash flow
−¥8.28bn
FY2020FY2026
Shareholders' equity
¥11.47bn
FY2020FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥37.80bn | ¥41.82bn | ¥21.04bn | ¥16.44bn | ¥10.58bn | ¥7.14bn | ¥3.78bn |
| Research and development | — | — | ¥0 | ¥0 | ¥5.0m | ¥0 | ¥0 |
| Operating income | ¥2.95bn | ¥1.97bn | ¥980.4m | ¥547.4m | ¥313.7m | ¥183.9m | ¥263.7m |
| Net income | ¥1.94bn | ¥1.35bn | ¥647.6m | ¥336.2m | ¥172.4m | ¥50.2m | ¥152.2m |
| Diluted earnings per share | 54.05 | 42.67 | 21.37 | 11.01 | 6.08 | 1.40 | 4.24 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥44.26bn | ¥52.94bn | ¥35.75bn | ¥21.49bn | ¥10.93bn | ¥9.05bn | ¥6.27bn |
| Cash and short-term investments | ¥18.63bn | ¥19.21bn | ¥9.54bn | ¥7.55bn | ¥1.99bn | ¥2.04bn | ¥1.38bn |
| Total liabilities | ¥32.79bn | ¥47.66bn | ¥31.94bn | ¥18.38bn | ¥9.88bn | ¥8.17bn | ¥13.4m |
| Debt | ¥8.69bn | ¥4.76bn | ¥5.94bn | ¥3.03bn | ¥1.18bn | ¥2.27bn | ¥1.36bn |
| Shareholders' equity | ¥11.47bn | ¥5.27bn | ¥3.81bn | ¥3.11bn | ¥1.04bn | ¥871.3m | ¥317.0m |
| Shares outstanding | 36m | 32m | 30m | 31m | 28m | 36m | 36m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −¥8.21bn | ¥10.02bn | −¥1.21bn | ¥1.29bn | ¥274.8m | −¥56.2m | ¥680.8m |
| Capital spending | −¥73.3m | −¥18.3m | −¥45.4m | −¥20.5m | −¥78.7m | −¥231.8m | −¥362.9m |
| Free cash flow | −¥8.28bn | ¥10.00bn | −¥1.26bn | ¥1.27bn | ¥196.2m | −¥288.0m | ¥317.9m |
| Dividends paid | −¥180.5m | — | — | — | — | −¥55.0m | −¥56.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥7.38bn | ¥8.21bn | ¥12.79bn | ¥6.72bn | ¥10.07bn | ¥15.18bn | ¥4.97bn | ¥7.84bn |
| Operating income | −¥206.8m | ¥2.50bn | ¥1.15bn | ¥472.0m | ¥271.6m | ¥805.0m | ¥131.0m | ¥191.0m |
| Net income | −¥179.2m | ¥623.4m | ¥793.6m | ¥335.3m | ¥186.6m | ¥540.9m | ¥69.0m | ¥142.0m |
| Diluted earnings per share | -5.00 | 17.38 | 25.06 | 10.59 | 5.89 | 17.08 | 2.28 | 4.69 |
| Total assets | ¥40.56bn | ¥44.26bn | ¥51.54bn | ¥54.35bn | ¥51.11bn | ¥52.94bn | ¥47.87bn | ¥42.41bn |
| Cash and short-term investments | ¥18.38bn | ¥18.63bn | ¥23.92bn | ¥15.38bn | ¥17.95bn | ¥19.21bn | ¥7.88bn | ¥12.66bn |
| Debt | ¥5.80bn | ¥8.68bn | ¥6.27bn | ¥12.34bn | ¥3.66bn | ¥4.75bn | ¥6.54bn | ¥5.57bn |
| Shareholders' equity | ¥10.83bn | ¥11.47bn | ¥10.83bn | ¥5.70bn | ¥5.32bn | ¥5.27bn | ¥4.68bn | ¥4.59bn |
Financial ratios
Data as of 22 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 7.8% | 4.7% | 4.7% | 3.3% | 3.0% | 2.6% | — |
| Net margin | 5.1% | 3.2% | 3.1% | 2.0% | 1.6% | 0.7% | — |
| Return on equity | 16.9% | 25.6% | 17.0% | 10.8% | 16.5% | 5.8% | — |
| Return on assets | 4.4% | 2.6% | 1.8% | 1.6% | 1.6% | 0.6% | — |
| Free cash flow yield | -43.3% | 60.5% | -7.3% | 8.2% | 2.4% | — | — |
| Revenue growth | -9.6% | 98.7% | 28.0% | 55.3% | 48.2% | 89.1% | — |
| Earnings growth | 43.5% | 108.7% | 92.6% | 95.0% | 243.2% | -67.0% | — |
| Current ratio | 4.09x | 1.10x | 1.11x | 1.20x | 1.02x | 1.08x | — |
| Debt to equity | 0.76x | 0.90x | 1.56x | 0.97x | 1.13x | 2.60x | — |
| Equity ratio | 25.9% | 10.0% | 10.6% | 14.5% | 9.6% | 9.6% | — |
| Interest coverage | 20.73x | 20.93x | 23.08x | 13.50x | 6.39x | 2.41x | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -13.3% | -4.5% | 0.8% | -7.7% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 32.0% | 39.9% | — |
| Operating income | 75.3% | 74.2% | — |
| Net income | 79.3% | 107.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 6.2% | 5.5% | 5.1% | — |
| Net margin | 4.1% | 3.6% | 3.3% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Price to earnings | 7.6 | 21.8 | 28.1 | 93.6 | 59.6 |
| Price to sales | 0.4 | 0.7 | 0.9 | 1.9 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | |
|---|---|
| Paid in the year | 14.00 |
- 5-for-1 split · 29 Sept 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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