D 
75
-5.06%
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
¥3.53bn
FY2017FY2026
Net income
−¥444.9m
FY2017FY2026
Free cash flow
¥159.0m
FY2017FY2026
Shareholders' equity
−¥860.0m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.53bn | ¥4.50bn | ¥4.66bn | ¥5.18bn | ¥4.95bn | ¥6.02bn | ¥7.87bn | ¥6.92bn | ¥5.08bn | ¥3.10bn |
| Gross profit | ¥1.76bn | ¥2.02bn | ¥2.17bn | ¥2.49bn | ¥2.50bn | ¥2.71bn | ¥3.94bn | ¥3.06bn | ¥2.30bn | ¥1.21bn |
| Operating income | −¥385.2m | −¥297.0m | −¥301.5m | ¥21.8m | ¥17.5m | −¥450.2m | ¥23.9m | −¥179.4m | ¥17.2m | −¥150.6m |
| Net income | −¥444.9m | −¥369.8m | −¥352.3m | −¥132.1m | −¥49.1m | −¥507.7m | −¥169.9m | −¥268.2m | ¥544.1m | −¥165.6m |
| Diluted earnings per share | -24.23 | -20.13 | -19.21 | -8.97 | -3.46 | -36.65 | -13.78 | -22.81 | 46.27 | -15.61 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.93bn | ¥2.61bn | ¥2.66bn | ¥3.08bn | ¥3.24bn | ¥3.47bn | ¥3.68bn | ¥4.03bn | ¥2.33bn | ¥1.14bn |
| Cash and short-term investments | ¥629.2m | ¥445.3m | ¥628.6m | ¥790.3m | ¥1.20bn | ¥1.42bn | ¥859.6m | ¥897.6m | ¥601.9m | ¥272.4m |
| Total liabilities | ¥2.79bn | ¥3.07bn | ¥3.25bn | ¥3.41bn | ¥3.57bn | ¥3.87bn | ¥3.91bn | ¥3.47bn | ¥2.26bn | ¥1.60bn |
| Debt | ¥2.19bn | ¥2.28bn | ¥2.42bn | ¥2.56bn | ¥2.68bn | ¥2.86bn | ¥2.71bn | ¥1.88bn | ¥1.55bn | ¥1.19bn |
| Shareholders' equity | −¥860.0m | −¥462.8m | −¥597.6m | −¥328.3m | −¥328.3m | −¥402.5m | −¥223.9m | ¥559.7m | ¥74.9m | −¥464.2m |
| Shares outstanding | 18m | 18m | 18m | 15m | 14m | 14m | 12m | 12m | 12m | 11m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥159.6m | −¥363.2m | ¥80.5m | −¥78.6m | ¥95.2m | ¥147.8m | ¥26.3m | −¥252.3m | ¥2.4m | −¥371.1m |
| Capital spending | −¥600,000 | −¥18.0m | −¥3.4m | −¥13.4m | −¥59.1m | −¥73.3m | −¥23.2m | −¥31.1m | −¥20.7m | −¥5.0m |
| Free cash flow | ¥159.0m | −¥381.2m | ¥77.2m | −¥92.0m | ¥36.2m | ¥74.5m | ¥3.1m | −¥283.3m | −¥18.3m | −¥376.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥716.6m | ¥987.4m | ¥739.5m | ¥907.3m | ¥900.5m | ¥1.10bn | ¥1.19bn | ¥1.17bn |
| Gross profit | ¥409.5m | ¥553.0m | ¥378.5m | ¥389.1m | ¥441.5m | ¥512.6m | ¥559.3m | ¥449.5m |
| Operating income | −¥58.0m | −¥130.5m | −¥61.8m | −¥76.4m | −¥72.1m | −¥6.3m | −¥36.2m | −¥104.9m |
| Net income | −¥69.8m | −¥169.5m | −¥94.3m | −¥101.7m | −¥79.4m | −¥28.7m | −¥92.0m | −¥97.5m |
| Diluted earnings per share | -3.80 | -9.23 | -5.14 | -5.54 | -4.32 | -1.56 | -5.02 | -5.32 |
| Cash from operations | −¥112.0m | ¥39.0m | −¥18.0m | ¥145.0m | −¥7.0m | −¥110.0m | −¥121.0m | −¥10.0m |
| Capital spending | — | — | −¥2.0m | −¥2.0m | −¥2.0m | — | −¥7.0m | −¥9.0m |
| Free cash flow | — | — | −¥20.0m | ¥143.0m | −¥9.0m | — | −¥128.0m | −¥19.0m |
| Total assets | ¥1.85bn | ¥1.93bn | ¥2.15bn | ¥2.34bn | ¥2.40bn | ¥2.61bn | ¥2.73bn | ¥2.47bn |
| Cash and short-term investments | ¥488.8m | ¥629.2m | ¥631.9m | ¥609.6m | ¥435.7m | ¥445.3m | ¥620.4m | ¥662.9m |
| Debt | ¥1.17bn | ¥1.31bn | ¥1.17bn | ¥1.35bn | ¥1.18bn | ¥1.40bn | ¥1.24bn | ¥1.47bn |
| Shareholders' equity | −¥47.5m | −¥860.0m | ¥160.1m | ¥231.5m | −¥552.4m | −¥462.8m | ¥460.9m | ¥58.3m |
Financial ratios
Data as of 19 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 49.9% | 44.9% | 46.7% | 48.0% | 50.4% | 45.1% |
| Operating margin | -10.3% | -6.6% | -6.5% | -1.5% | -0.0% | -3.9% |
| Net margin | -12.6% | -8.2% | -7.6% | -2.5% | -1.0% | -8.4% |
| Return on equity | 51.7% | 79.9% | 58.9% | 40.2% | 15.0% | 126.1% |
| Return on assets | -23.1% | -14.2% | -13.3% | -4.3% | -1.5% | -14.6% |
| Free cash flow yield | 9.3% | -20.0% | 4.9% | -4.7% | 11.6% | 17.0% |
| Revenue growth | -21.4% | -3.4% | -10.2% | 4.7% | -17.8% | -23.5% |
| Earnings growth | 20.3% | 5.0% | 166.7% | 168.9% | -90.3% | 198.9% |
| Current ratio | 1.09x | 1.30x | 1.24x | 1.17x | 1.24x | 1.28x |
| Debt to equity | -1.52x | -3.03x | -2.57x | -5.53x | -6.35x | -5.62x |
| Equity ratio | -44.7% | -17.7% | -22.5% | -10.7% | -10.1% | -11.6% |
| Interest coverage | -4.04x | -4.71x | -5.67x | -1.56x | -0.01x | -5.20x |
| Buybacks as a share of market value | 0.0% | -0.2% | -24.5% | -3.7% | -2.5% | -12.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.0% | -10.1% | -0.4% |
| Operating income | — | -3.1% | 1.7% |
| Net income | 49.9% | -2.6% | -2.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 47.1% | 47.2% | 47.3% | 46.2% |
| Operating margin | -8.5% | -5.4% | -4.8% | -3.6% |
| Net margin | -10.1% | -7.3% | -6.4% | -4.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.0 | -10.2 | -10.3 | -17.6 | -50.6 | -7.7 | -15.2 | -21.0 | 6.8 | -85.6 |
| Price to sales | 0.4 | 0.8 | 0.8 | 0.5 | 0.5 | 0.7 | 0.3 | 0.8 | 0.7 | 4.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 28 Jun 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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