I 
69
+4.55%
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
¥1.07bn
FY2017FY2026
Net income
−¥501.4m
FY2017FY2026
Free cash flow
−¥502.2m
FY2017FY2026
Shareholders' equity
¥238.6m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.07bn | ¥825.0m | ¥1.29bn | ¥598.2m | ¥2.35bn | ¥1.18bn | ¥1.17bn | ¥2.75bn | ¥2.62bn | ¥2.74bn |
| Research and development | — | — | ¥0 | ¥1 | ¥0 | ¥1 | ¥1 | — | — | — |
| Operating income | −¥420.6m | −¥356.0m | −¥154.2m | −¥487.1m | ¥195.2m | −¥775.8m | −¥940.6m | ¥375.6m | ¥8.0m | ¥569.5m |
| Net income | −¥501.4m | −¥432.4m | −¥139.9m | −¥493.4m | ¥156.1m | −¥993.2m | −¥1.01bn | ¥55.7m | −¥74.7m | ¥284.7m |
| Diluted earnings per share | -10.78 | -9.30 | -3.01 | -13.31 | 4.21 | -26.79 | -27.33 | 1.50 | -2.00 | 7.81 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥2.15bn | ¥1.06bn | ¥1.16bn | ¥1.18bn | ¥1.86bn | ¥2.91bn | ¥4.03bn | ¥5.07bn | ¥6.03bn | ¥7.25bn |
| Cash and short-term investments | ¥1.50bn | ¥535.8m | ¥890.0m | ¥552.4m | ¥1.33bn | ¥971.1m | ¥873.6m | ¥2.10bn | ¥1.73bn | ¥1.34bn |
| Total liabilities | ¥1.91bn | ¥323.6m | ¥297.5m | ¥488.3m | ¥680.6m | ¥1.88bn | ¥3.1m | ¥2.06bn | ¥3.08bn | ¥4.14bn |
| Debt | ¥1.57bn | ¥10.3m | ¥43.3m | ¥319.8m | ¥367.6m | ¥1.40bn | ¥1.70bn | ¥1.76bn | ¥2.42bn | ¥3.55bn |
| Shareholders' equity | ¥238.6m | ¥735.7m | ¥860.5m | ¥692.7m | ¥1.18bn | ¥1.03bn | ¥2.01bn | ¥3.01bn | ¥2.96bn | ¥3.10bn |
| Shares outstanding | 46m | 46m | 46m | 37m | 37m | 37m | 37m | 37m | 37m | 36m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥502.2m | −¥391.6m | ¥281.4m | −¥587.3m | ¥1.46bn | ¥485.2m | −¥1.28bn | ¥527.0m | ¥1.26bn | −¥360.0m |
| Capital spending | — | −¥350,000 | −¥15.2m | −¥57.1m | −¥9.7m | −¥36.1m | −¥2.0m | −¥6.0m | −¥6.0m | −¥5.0m |
| Free cash flow | −¥502.2m | −¥392.0m | ¥266.2m | −¥644.5m | ¥1.45bn | ¥449.2m | −¥1.28bn | ¥521.0m | ¥1.26bn | −¥365.0m |
| Dividends paid | — | — | — | — | — | — | — | −¥213,000 | −¥73.0m | −¥66.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥209.0m | ¥170.4m | ¥389.3m | ¥278.2m | ¥235.9m | ¥185.4m | ¥261.7m | ¥175.1m |
| Operating income | −¥117.7m | −¥137.5m | −¥67.6m | −¥127.3m | −¥87.4m | −¥132.9m | −¥42.6m | −¥91.4m |
| Net income | −¥77.7m | −¥167.8m | −¥94.9m | −¥121.8m | −¥116.9m | −¥165.7m | −¥70.5m | −¥107.0m |
| Diluted earnings per share | -1.67 | -3.61 | -2.04 | -2.62 | -2.51 | -3.56 | -1.52 | -2.30 |
| Total assets | ¥1.71bn | ¥2.15bn | ¥968.0m | ¥1.10bn | ¥1.16bn | ¥1.06bn | ¥1.13bn | ¥1.20bn |
| Cash and short-term investments | ¥1.11bn | ¥1.50bn | ¥449.7m | ¥531.9m | ¥672.8m | ¥535.8m | ¥608.4m | ¥685.0m |
| Debt | — | ¥1.57bn | ¥262.6m | ¥264.1m | ¥265.6m | ¥10.1m | ¥16.1m | ¥24.1m |
| Shareholders' equity | ¥159.1m | ¥238.6m | ¥403.2m | ¥500.2m | ¥621.1m | ¥735.7m | ¥899.9m | ¥968.0m |
Financial ratios
Data as of 24 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -43.6% | -43.2% | -12.1% | -80.2% | 8.3% | -66.0% | — |
| Net margin | -46.7% | -52.4% | -10.8% | -82.5% | 6.6% | -84.5% | — |
| Return on equity | -210.1% | -58.8% | -16.3% | -71.2% | 13.2% | -96.2% | — |
| Return on assets | -23.4% | -40.8% | -12.1% | -41.8% | 8.4% | -34.1% | — |
| Free cash flow yield | — | -11.5% | 8.7% | -19.6% | 54.2% | 19.3% | -47.2% |
| Revenue growth | 30.1% | -36.2% | 116.0% | -74.6% | 100.0% | 0.2% | — |
| Earnings growth | 16.0% | 209.1% | -71.6% | -416.1% | -115.7% | -2.0% | — |
| Current ratio | 6.07x | 2.91x | 3.62x | 5.64x | 5.26x | 1.86x | — |
| Debt to equity | 6.58x | 0.01x | 0.05x | 0.46x | 0.31x | 1.35x | — |
| Equity ratio | 11.1% | 69.5% | 74.3% | 58.7% | 63.5% | 35.4% | — |
| Interest coverage | -14.90x | -760.74x | -21.75x | -114.73x | 26.52x | -41.87x | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 0.0% | -0.1% | -25.3% | 0.0% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.5% | -1.8% | -7.4% |
| Operating income | -4.8% | -11.5% | — |
| Net income | 0.5% | -12.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -40.9% | -37.4% | -27.3% | -8.2% |
| Net margin | -49.2% | -41.4% | -32.9% | -15.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.2 | -7.0 | -33.9 | -9.7 | 13.5 | -2.2 | -2.2 | 83.2 | -67.4 | 24.6 |
| Price to sales | 2.9 | 3.7 | 3.7 | 8.0 | 0.9 | 1.9 | 1.9 | 1.7 | 1.9 | 2.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Mar 2017.
| FY2018 | FY2017 | FY2016 | FY2009 | FY2008 | |
|---|---|---|---|---|---|
| Paid in the year | 2.00 | 2.00 | 5.00 | 3.50 | 3.00 |
- 200-for-1 split · 26 Dec 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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