G 
423
+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
¥3.43bn
FY2016FY2025
Net income
−¥3.1m
FY2016FY2025
Free cash flow
−¥548.5m
FY2016FY2025
Shareholders' equity
¥2.69bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.43bn | ¥4.23bn | ¥4.60bn | ¥2.66bn | ¥2.81bn | ¥1.77bn | ¥2.59bn | ¥2.43bn | ¥2.22bn | ¥1.94bn |
| Gross profit | ¥742.8m | ¥1.26bn | ¥940.0m | ¥609.1m | ¥622.5m | ¥474.3m | ¥721.4m | ¥697.6m | ¥609.8m | ¥521.5m |
| Operating income | ¥24.6m | ¥482.3m | ¥127.4m | ¥226.8m | ¥279.0m | ¥137.9m | ¥386.0m | ¥384.0m | ¥336.0m | ¥303.5m |
| Net income | −¥3.1m | ¥251.1m | ¥178.0m | ¥65.7m | ¥182.7m | ¥84.2m | ¥252.2m | ¥256.5m | ¥218.5m | ¥196.5m |
| Diluted earnings per share | -0.76 | 63.39 | 50.86 | 18.77 | 52.19 | 23.16 | 69.32 | 66.87 | 57.17 | 47.93 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥5.55bn | ¥4.53bn | ¥4.09bn | ¥4.40bn | ¥3.78bn | ¥4.49bn | ¥4.33bn | ¥3.83bn | ¥2.61bn | ¥1.60bn |
| Cash and short-term investments | ¥1.01bn | ¥1.61bn | ¥1.17bn | ¥1.64bn | ¥703.1m | ¥830.7m | ¥731.7m | ¥733.3m | ¥676.6m | ¥776.7m |
| Total liabilities | ¥2.86bn | ¥1.75bn | ¥2.02bn | ¥2.46bn | ¥1.86bn | ¥2.65bn | ¥2.52bn | ¥2.12bn | ¥1.10bn | ¥289.2m |
| Debt | ¥2.24bn | ¥1.04bn | ¥1.21bn | ¥1.54bn | ¥1.59bn | ¥2.42bn | ¥2.20bn | ¥1.80bn | ¥806.4m | ¥97.0m |
| Shareholders' equity | ¥2.69bn | ¥2.77bn | ¥2.06bn | ¥1.93bn | ¥1.92bn | ¥1.85bn | ¥1.81bn | ¥1.71bn | ¥1.50bn | ¥1.31bn |
| Shares outstanding | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥525.8m | ¥176.7m | −¥221.9m | ¥685.8m | ¥845.7m | −¥55.6m | −¥250.6m | −¥864.0m | −¥799.0m | −¥247.7m |
| Capital spending | −¥22.7m | −¥11.0m | −¥8.0m | −¥268,000 | −¥5.0m | −¥6.3m | −¥3.4m | −¥2.0m | −¥2.0m | −¥2.2m |
| Free cash flow | −¥548.5m | ¥165.7m | −¥229.9m | ¥685.5m | ¥840.6m | −¥61.9m | −¥254.0m | −¥866.0m | −¥801.0m | −¥249.9m |
| Dividends paid | −¥81.8m | −¥52.5m | −¥48.0m | −¥48.8m | −¥50.9m | −¥51.0m | −¥53.5m | −¥45.0m | −¥25.0m | −¥12.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥852.2m | ¥600.6m | ¥1.10bn | ¥871.9m | ¥648.7m | ¥800.7m | ¥1.62bn | ¥747.0m |
| Gross profit | ¥191.3m | ¥126.2m | ¥242.2m | ¥181.6m | ¥151.9m | ¥155.4m | ¥713.0m | ¥163.0m |
| Operating income | ¥35.7m | −¥17.7m | ¥51.4m | ¥23.4m | −¥46.6m | −¥13.8m | ¥477.0m | −¥43.0m |
| Net income | ¥36.2m | −¥15.4m | ¥58.6m | ¥14.0m | −¥47.9m | −¥27.8m | ¥256.0m | −¥36.0m |
| Diluted earnings per share | 8.83 | -3.75 | 14.29 | 3.41 | -11.68 | -6.78 | 64.64 | -9.09 |
| Total assets | ¥5.05bn | ¥5.41bn | ¥5.55bn | ¥5.73bn | ¥5.56bn | ¥5.31bn | ¥4.53bn | ¥3.73bn |
| Cash and short-term investments | ¥808.8m | ¥699.8m | ¥1.01bn | ¥848.2m | ¥1.04bn | ¥828.4m | ¥1.61bn | ¥659.0m |
| Debt | ¥1.96bn | ¥505.7m | ¥2.24bn | ¥1.05bn | ¥2.46bn | ¥855.7m | ¥231.0m | ¥106.9m |
| Shareholders' equity | ¥2.65bn | ¥2.61bn | ¥2.69bn | ¥2.63bn | ¥2.61bn | ¥2.66bn | ¥2.77bn | ¥2.00bn |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 21.7% | 29.8% | 20.4% | 22.9% | 22.2% | 26.8% |
| Operating margin | 0.8% | 11.1% | 2.8% | 5.3% | 10.3% | 8.0% |
| Net margin | -0.1% | 5.9% | 3.9% | 2.5% | 6.5% | 4.8% |
| Return on equity | -0.1% | 9.1% | 8.6% | 3.4% | 9.5% | 4.6% |
| Return on assets | -0.1% | 5.5% | 4.4% | 1.5% | 4.8% | 1.9% |
| Free cash flow yield | -28.5% | 11.0% | -14.2% | 45.5% | 56.0% | -3.1% |
| Revenue growth | -18.9% | -8.1% | 72.8% | -5.2% | 58.7% | -31.7% |
| Earnings growth | -101.2% | 41.0% | 171.0% | -64.0% | 116.8% | -66.6% |
| Current ratio | 4.54x | 5.24x | 3.97x | 4.36x | 9.44x | 10.73x |
| Debt to equity | 0.84x | 0.37x | 0.59x | 0.80x | 0.83x | 1.31x |
| Equity ratio | 48.4% | 61.2% | 50.5% | 44.0% | 50.7% | 41.1% |
| Interest coverage | 1.04x | 58.27x | 15.24x | 13.14x | 21.88x | 8.91x |
| Buybacks as a share of market value | -3.5% | -13.2% | 0.0% | 0.8% | 3.1% | 0.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.8% | 14.1% | 7.3% |
| Operating income | -52.3% | -29.2% | -19.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.2% | 23.8% | 23.8% | 25.1% |
| Operating margin | 6.6% | 5.8% | 6.6% | 9.6% |
| Net margin | 3.2% | 3.3% | 3.9% | 6.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -783.9 | 17.1 | 7.3 | 20.5 | 8.3 | 15.6 | 8.2 | 5.8 | 8.0 | 7.1 |
| Price to sales | 0.7 | 1.0 | 0.3 | 0.5 | 0.5 | 0.7 | 0.8 | 0.6 | 0.8 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 11 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 30.00 | 15.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 12.00 |
- 3-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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