M 
364
+4.60%
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
¥16.75bn
FY2016FY2025
Net income
−¥447.9m
FY2016FY2025
Free cash flow
−¥341.9m
FY2016FY2025
Shareholders' equity
¥2.90bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥16.75bn | ¥16.12bn | ¥15.50bn | ¥13.26bn | ¥11.26bn | ¥10.47bn | ¥10.21bn | ¥9.33bn | ¥8.74bn | ¥8.20bn |
| Gross profit | ¥5.85bn | ¥5.68bn | ¥5.54bn | ¥4.83bn | ¥3.88bn | ¥3.55bn | ¥3.38bn | ¥3.09bn | ¥3.14bn | ¥2.92bn |
| Operating income | −¥282.3m | ¥822.7m | ¥1.05bn | ¥951.8m | ¥270.0m | ¥51.8m | ¥89.1m | ¥37.7m | ¥191.0m | ¥315.2m |
| Net income | −¥447.9m | ¥635.3m | ¥525.0m | ¥606.2m | −¥50.9m | −¥168.8m | ¥49.5m | ¥17.0m | ¥182.9m | ¥180.4m |
| Diluted earnings per share | -24.74 | 34.60 | 28.67 | 32.68 | -2.92 | -9.64 | 2.84 | 1.07 | 11.03 | 10.88 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥8.98bn | ¥9.43bn | ¥9.19bn | ¥7.64bn | ¥4.77bn | ¥4.41bn | ¥4.72bn | ¥4.14bn | ¥4.26bn | ¥4.18bn |
| Cash and short-term investments | ¥1.31bn | ¥2.04bn | ¥2.36bn | ¥1.39bn | ¥793.5m | ¥821.3m | ¥704.0m | ¥954.5m | ¥584.2m | ¥1.05bn |
| Total liabilities | ¥6.07bn | ¥5.86bn | ¥6.14bn | ¥4.84bn | ¥2.97bn | ¥2.44bn | ¥2.54bn | ¥2.34bn | ¥2.17bn | ¥2.28bn |
| Debt | ¥3.14bn | ¥3.13bn | ¥3.35bn | ¥2.06bn | ¥1.00bn | ¥780.0m | ¥745.3m | ¥803.8m | ¥765.5m | ¥1.03bn |
| Shareholders' equity | ¥2.90bn | ¥3.57bn | ¥3.05bn | ¥2.80bn | ¥1.80bn | ¥1.97bn | ¥2.18bn | ¥1.80bn | ¥2.08bn | ¥1.89bn |
| Shares outstanding | 18m | 18m | 18m | 19m | 17m | 18m | 17m | 16m | 17m | 17m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥55.5m | ¥537.0m | ¥463.3m | ¥715.0m | ¥171.8m | ¥307.2m | ¥195.5m | ¥388.7m | ¥100.9m | ¥296.7m |
| Capital spending | −¥286.4m | −¥291.6m | −¥186.1m | −¥313.3m | −¥271.0m | −¥85.7m | −¥62.1m | −¥87.0m | −¥26.5m | −¥281.3m |
| Free cash flow | −¥341.9m | ¥245.4m | ¥277.2m | ¥401.7m | −¥99.2m | ¥221.4m | ¥133.4m | ¥301.8m | ¥74.4m | ¥15.4m |
| Dividends paid | −¥183.0m | −¥182.4m | −¥185.1m | −¥51.9m | −¥52.2m | −¥52.3m | −¥47.0m | −¥80.9m | −¥79.6m | −¥63.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥4.00bn | ¥4.06bn | ¥3.82bn | ¥4.16bn | ¥4.01bn | ¥4.42bn | ¥4.16bn | ¥3.98bn |
| Gross profit | ¥1.50bn | ¥1.53bn | ¥1.41bn | ¥1.43bn | ¥1.42bn | ¥1.57bn | ¥1.42bn | ¥1.36bn |
| Operating income | −¥2.1m | ¥167.4m | ¥101.9m | −¥110.3m | −¥40.8m | ¥88.8m | −¥212.5m | ¥78.7m |
| Net income | ¥21.9m | ¥153.8m | ¥57.9m | −¥282.3m | −¥56.6m | ¥38.4m | −¥147.3m | ¥133.3m |
| Diluted earnings per share | 1.24 | 8.69 | 3.20 | -15.60 | -3.13 | 2.12 | -8.02 | 7.26 |
| Cash from operations | — | — | — | −¥55.0m | — | — | — | — |
| Capital spending | — | — | — | −¥286.0m | — | — | — | — |
| Free cash flow | — | — | — | −¥341.0m | — | — | — | — |
| Total assets | ¥8.84bn | ¥9.21bn | ¥8.82bn | ¥8.98bn | ¥9.51bn | ¥9.73bn | ¥10.19bn | ¥9.43bn |
| Cash and short-term investments | ¥1.45bn | ¥1.69bn | ¥1.49bn | ¥1.31bn | ¥1.54bn | ¥1.82bn | ¥2.07bn | ¥2.04bn |
| Debt | ¥1.68bn | ¥2.93bn | ¥2.72bn | ¥3.14bn | ¥2.84bn | ¥3.74bn | ¥3.59bn | ¥2.59bn |
| Shareholders' equity | ¥3.03bn | ¥3.07bn | ¥2.92bn | ¥2.90bn | ¥3.17bn | ¥3.27bn | ¥3.26bn | ¥3.57bn |
Financial ratios
Data as of 16 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 34.9% | 35.3% | 35.7% | 36.4% | 34.4% | 34.0% |
| Operating margin | -1.7% | 5.1% | 6.8% | 7.2% | 2.4% | 0.5% |
| Net margin | -2.7% | 3.9% | 3.4% | 4.6% | -0.5% | -1.6% |
| Return on equity | -15.4% | 17.8% | 17.2% | 21.6% | -2.8% | -8.6% |
| Return on assets | -5.0% | 6.7% | 5.7% | 7.9% | -1.1% | -3.8% |
| Free cash flow yield | 3.4% | 12.0% | 9.4% | 14.7% | 6.7% | 6.0% |
| Revenue growth | 3.9% | 4.0% | 16.9% | 17.7% | 7.6% | 2.5% |
| Earnings growth | -170.5% | 21.0% | -13.4% | -1291.1% | -69.9% | -441.3% |
| Current ratio | 1.05x | 1.26x | 1.24x | 1.26x | 1.12x | 1.12x |
| Debt to equity | 1.08x | 0.88x | 1.10x | 0.73x | 0.56x | 0.40x |
| Equity ratio | 32.3% | 37.9% | 33.2% | 36.6% | 37.7% | 44.6% |
| Interest coverage | -8.54x | 45.70x | 53.03x | 146.68x | 101.39x | 21.53x |
| Buybacks as a share of market value | 1.4% | -0.3% | 1.3% | -6.3% | 0.3% | -0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.1% | 9.9% | 8.8% |
| Net income | — | 21.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 35.1% | 35.5% | 35.2% | 34.9% |
| Operating margin | 1.6% | 4.1% | 3.4% | 3.1% |
| Net margin | 0.6% | 2.1% | 1.3% | 1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -10.2 | 10.9 | 15.5 | 42.4 | -144.7 | -28.8 | 105.6 | 209.7 | 28.7 | 36.7 |
| Price to sales | 0.3 | 0.4 | 0.5 | 1.9 | 0.7 | 0.5 | 0.5 | 0.4 | 0.6 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 13 years. Last went ex-dividend on 29 Sept 2025.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.00 | 10.00 | 10.00 | 10.00 | 3.00 | 3.00 | 3.00 | 3.00 |
- 5-for-1 split · 27 Mar 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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