M 
246
-1.20%
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
¥3.38bn
FY2016FY2025
Net income
−¥85.8m
FY2016FY2025
Free cash flow
¥1.41bn
FY2016FY2025
Shareholders' equity
¥4.65bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.38bn | ¥4.45bn | ¥1.54bn | ¥4.35bn | ¥2.72bn | ¥1.64bn | ¥2.45bn | ¥1.94bn | ¥1.79bn | ¥2.56bn |
| Operating income | ¥285.2m | ¥326.4m | −¥13.2m | ¥355.9m | ¥335.0m | ¥219.9m | ¥215.6m | ¥103.7m | −¥29.6m | ¥17.8m |
| Net income | −¥85.8m | ¥182.4m | ¥98.5m | −¥66.1m | ¥70.7m | −¥44.1m | ¥83.5m | ¥282.5m | −¥134.5m | ¥148.3m |
| Diluted earnings per share | -2.90 | 6.23 | 3.37 | -2.25 | 2.48 | -1.58 | 3.00 | 10.14 | -4.93 | 5.55 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥15.44bn | ¥16.38bn | ¥13.96bn | ¥10.18bn | ¥10.85bn | ¥10.52bn | ¥10.86bn | ¥11.12bn | ¥9.94bn | ¥6.40bn |
| Cash and short-term investments | ¥1.61bn | ¥1.30bn | ¥1.29bn | ¥1.58bn | ¥1.06bn | ¥826.9m | ¥694.0m | ¥884.0m | ¥793.5m | ¥1.56bn |
| Total liabilities | ¥10.79bn | ¥12.20bn | ¥9.94bn | ¥6.25bn | ¥6.72bn | ¥7.06bn | ¥7.33bn | ¥7.61bn | ¥6.70bn | ¥3.26bn |
| Debt | ¥10.50bn | ¥11.84bn | ¥9.69bn | ¥5.89bn | ¥6.49bn | ¥6.81bn | ¥7.05bn | ¥7.27bn | ¥6.35bn | ¥2.91bn |
| Shareholders' equity | ¥4.65bn | ¥4.18bn | ¥4.03bn | ¥3.93bn | ¥4.13bn | ¥3.46bn | ¥3.53bn | ¥3.51bn | ¥3.24bn | ¥3.14bn |
| Shares outstanding | 30m | 29m | 29m | 29m | 29m | 28m | 28m | 28m | 27m | 27m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥2.36bn | ¥3.14bn | −¥241.9m | ¥2.90bn | ¥982.3m | ¥555.5m | ¥461.7m | ¥286.9m | −¥150.4m | ¥115.5m |
| Capital spending | −¥945.8m | −¥5.46bn | −¥4.80bn | −¥1.96bn | −¥376.1m | −¥36.9m | −¥366.2m | −¥1.60bn | −¥4.28bn | −¥1.44bn |
| Free cash flow | ¥1.41bn | −¥2.32bn | −¥5.05bn | ¥935.5m | ¥606.2m | ¥518.6m | ¥95.5m | −¥1.31bn | −¥4.43bn | −¥1.33bn |
| Dividends paid | −¥58.7m | −¥29.3m | −¥12,000 | −¥58.8m | −¥55.7m | −¥28.0m | −¥55.5m | −¥27.7m | −¥54.1m | −¥293,000 |
Latest quarters
By quarter end
| Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | Jul 2024 | Apr 2024 | Jan 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.08bn | ¥675.1m | ¥1.05bn | ¥575.6m | ¥2.27bn | ¥756.3m | ¥1.06bn | ¥363.2m |
| Operating income | ¥55.0m | ¥125.6m | ¥64.4m | ¥40.2m | ¥183.8m | ¥126.8m | ¥84.2m | −¥68.5m |
| Net income | −¥111.3m | ¥26.8m | ¥8.7m | −¥10.0m | ¥92.0m | ¥76.8m | ¥126.5m | −¥112.9m |
| Diluted earnings per share | -3.58 | 0.91 | 0.30 | -0.34 | 3.14 | 2.62 | 4.32 | -3.86 |
| Total assets | ¥15.44bn | ¥16.19bn | ¥15.68bn | ¥16.32bn | ¥16.38bn | ¥16.89bn | ¥17.24bn | ¥17.05bn |
| Cash and short-term investments | ¥1.61bn | ¥1.94bn | ¥958.3m | ¥795.7m | ¥1.30bn | ¥667.4m | ¥585.8m | ¥488.6m |
| Debt | ¥10.11bn | ¥10.74bn | ¥11.07bn | ¥11.68bn | ¥11.39bn | ¥12.03bn | ¥12.43bn | ¥12.37bn |
| Shareholders' equity | ¥4.65bn | ¥4.80bn | ¥3.97bn | ¥3.96bn | ¥4.18bn | ¥4.09bn | ¥4.01bn | ¥3.90bn |
Financial ratios
Data as of 10 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 5.8% | 9.2% | 7.9% | 1.3% | 7.2% | 4.1% | — |
| Net margin | -2.5% | 4.1% | 4.3% | -1.5% | 2.6% | -2.7% | — |
| Return on equity | -1.8% | 4.4% | 4.2% | -1.7% | 1.7% | -1.3% | — |
| Return on assets | -0.6% | 1.1% | 1.2% | -0.6% | 0.7% | -0.4% | — |
| Free cash flow yield | 42.7% | 110.6% | 109.6% | 66.4% | 18.5% | 8.2% | — |
| Revenue growth | -23.8% | 14.4% | -10.7% | 60.0% | 66.3% | -33.2% | — |
| Earnings growth | -147.1% | 8.0% | -355.5% | -193.5% | -260.4% | -152.8% | — |
| Current ratio | 4.11x | 3.56x | 2.93x | 3.48x | 1.46x | 2.10x | — |
| Debt to equity | 2.26x | 2.83x | 0.09x | 1.50x | 1.57x | 1.96x | — |
| Equity ratio | 30.1% | 25.5% | 28.9% | 38.6% | 38.0% | 32.9% | — |
| Interest coverage | 0.80x | 1.84x | — | 0.61x | 2.02x | 0.64x | 1.98x |
| R&D as a share of sales | — | — | 0.0% | — | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 1.1% | -7.0% | 0.7% | 0.0% | -1.1% | -3.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.1% | 15.6% | -0.1% |
| Operating income | -7.1% | 5.3% | 15.0% |
| Net income | 9.1% | 14.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 7.8% | 7.0% | 8.3% | 6.2% |
| Net margin | 1.2% | 0.9% | 0.9% | 1.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -68.9 | 44.6 | 97.7 | -136.8 | 146.3 | -205.4 | 100.1 | 33.2 | -82.4 | 55.5 |
| Price to sales | 1.8 | 1.8 | 6.3 | 2.1 | 3.8 | 5.5 | 3.4 | 4.8 | 6.2 | 3.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 30 Oct 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.00 | 1.00 | 3.50 | 2.00 | 1.00 | 2.00 | 1.00 | 2.00 |
- 10-to-1 reverse split · 28 Jul 2010
- 2-for-1 split · 27 Sept 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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