T 
2,811
-1.02%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥33.64bn
FY2016FY2025
Net income
¥3.74bn
FY2016FY2025
Free cash flow
¥2.26bn
FY2016FY2025
Shareholders' equity
¥72.39bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥33.64bn | ¥31.48bn | ¥28.03bn | ¥29.90bn | ¥32.99bn | ¥32.33bn | ¥35.39bn | ¥29.66bn | ¥25.63bn | ¥25.06bn |
| Gross profit | ¥9.31bn | ¥8.63bn | ¥7.64bn | ¥9.34bn | ¥9.73bn | ¥8.67bn | ¥10.58bn | ¥9.07bn | ¥8.00bn | ¥7.31bn |
| Research and development | ¥200.4m | ¥185.0m | ¥188.0m | ¥104.6m | ¥101.9m | ¥98.2m | ¥95.5m | ¥107.5m | ¥112.8m | ¥88.4m |
| Operating income | ¥4.06bn | ¥3.46bn | ¥2.59bn | ¥4.46bn | ¥4.91bn | ¥4.19bn | ¥5.62bn | ¥4.48bn | ¥3.89bn | ¥3.34bn |
| Net income | ¥3.74bn | ¥3.25bn | ¥2.45bn | ¥3.66bn | ¥3.98bn | ¥3.38bn | ¥4.26bn | ¥3.40bn | ¥2.88bn | ¥2.39bn |
| Diluted earnings per share | 145.35 | 123.45 | 92.83 | 138.30 | 36.97 | 127.95 | 162.02 | 129.53 | 109.93 | 91.41 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥91.34bn | ¥82.85bn | ¥79.20bn | ¥72.13bn | ¥74.28bn | ¥68.48bn | ¥72.48bn | ¥62.33bn | ¥64.70bn | ¥57.78bn |
| Cash and short-term investments | ¥17.82bn | ¥18.69bn | ¥19.00bn | ¥22.12bn | ¥18.56bn | ¥22.85bn | ¥21.12bn | ¥20.96bn | ¥18.78bn | ¥18.24bn |
| Total liabilities | ¥18.96bn | ¥16.31bn | ¥14.23bn | ¥14.11bn | ¥16.64bn | ¥13.30bn | ¥17.32bn | ¥14.81bn | ¥15.61bn | ¥13.88bn |
| Debt | ¥56.0m | ¥237.8m | ¥165.5m | ¥210.5m | ¥1.10bn | ¥112.5m | ¥91.1m | ¥168.3m | ¥213.4m | ¥93.4m |
| Shareholders' equity | ¥72.39bn | ¥66.54bn | ¥64.98bn | ¥58.02bn | ¥57.65bn | ¥55.18bn | ¥55.16bn | ¥47.52bn | ¥49.09bn | ¥43.90bn |
| Shares outstanding | 26m | 26m | 26m | 26m | 108m | 26m | 26m | 26m | 26m | 26m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥2.91bn | ¥1.95bn | −¥932.8m | ¥9.45bn | ¥19.3m | ¥6.10bn | ¥1.89bn | ¥5.44bn | ¥1.66bn | ¥1.36bn |
| Capital spending | −¥645.0m | −¥660.4m | −¥527.5m | −¥2.78bn | −¥3.51bn | −¥2.99bn | −¥715.8m | −¥2.47bn | −¥447.9m | −¥269.0m |
| Free cash flow | ¥2.26bn | ¥1.29bn | −¥1.46bn | ¥6.67bn | −¥3.49bn | ¥3.11bn | ¥1.18bn | ¥2.96bn | ¥1.21bn | ¥1.09bn |
| Dividends paid | −¥1.32bn | −¥1.32bn | −¥1.32bn | −¥1.19bn | −¥1.18bn | −¥1.18bn | −¥1.05bn | −¥1.04bn | −¥781.6m | −¥783.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥4.42bn | ¥19.77bn | ¥9.34bn | ¥5.76bn | ¥3.22bn | ¥15.32bn | ¥9.30bn | ¥4.31bn |
| Gross profit | ¥1.39bn | ¥5.36bn | ¥2.76bn | ¥1.76bn | ¥1.00bn | ¥4.11bn | ¥2.86bn | ¥1.25bn |
| Operating income | ¥6.1m | ¥4.07bn | ¥1.25bn | ¥155.5m | −¥224.3m | ¥2.88bn | ¥1.42bn | −¥83.0m |
| Net income | ¥74.1m | ¥3.26bn | ¥956.3m | ¥447.6m | −¥76.9m | ¥2.42bn | ¥1.07bn | ¥288.0m |
| Diluted earnings per share | 2.86 | 125.80 | 37.14 | 17.38 | -2.99 | 93.81 | 40.45 | 10.93 |
| Cash from operations | — | — | −¥2.00bn | −¥2.00bn | — | — | — | — |
| Capital spending | — | — | −¥167.0m | −¥168.0m | — | — | — | — |
| Free cash flow | — | — | −¥2.17bn | −¥2.17bn | — | — | — | — |
| Total assets | ¥91.63bn | ¥97.92bn | ¥91.34bn | ¥85.42bn | ¥81.77bn | ¥84.28bn | ¥82.85bn | ¥80.10bn |
| Cash and short-term investments | ¥25.55bn | ¥15.93bn | ¥17.82bn | ¥19.80bn | ¥22.75bn | ¥16.61bn | ¥18.69bn | ¥20.59bn |
| Debt | ¥34.0m | ¥45.0m | ¥56.0m | ¥44.0m | ¥78.0m | ¥44.0m | ¥66.1m | ¥33.0m |
| Shareholders' equity | ¥74.14bn | ¥75.66bn | ¥72.39bn | ¥69.69bn | ¥67.04bn | ¥66.71bn | ¥66.54bn | ¥65.96bn |
Financial ratios
Data as of 12 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 27.7% | 27.4% | 27.3% | 31.2% | 29.5% | 26.8% |
| Operating margin | 12.1% | 11.0% | 9.2% | 14.9% | 14.9% | 13.0% |
| Net margin | 11.1% | 10.3% | 8.7% | 12.2% | 12.1% | 10.5% |
| Return on equity | 5.2% | 4.9% | 3.8% | 6.3% | 6.9% | 6.1% |
| Return on assets | 4.1% | 3.9% | 3.1% | 5.1% | 5.4% | 4.9% |
| Free cash flow yield | 4.6% | 3.3% | -0.5% | 15.3% | 1.1% | 11.4% |
| Revenue growth | 6.9% | 12.3% | -6.3% | -9.4% | 2.0% | -8.6% |
| Earnings growth | 15.0% | 33.0% | -33.2% | -8.0% | 17.7% | -20.6% |
| Current ratio | 6.33x | 6.00x | 8.13x | 5.43x | 4.39x | 6.40x |
| Debt to equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.02x | 0.00x |
| Equity ratio | 79.2% | 80.3% | 82.0% | 80.4% | 77.6% | 80.6% |
| Interest coverage | 994.23x | 1101.83x | 1008.75x | 741.02x | 1269.46x | 1444.64x |
| R&D as a share of sales | 0.6% | 0.6% | 0.7% | 0.3% | 0.3% | 0.3% |
| Buybacks as a share of market value | 2.3% | -0.0% | 0.4% | 75.4% | -307.5% | -0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.0% | 0.8% | 1.9% |
| Operating income | -3.2% | -0.7% | 0.6% |
| Net income | 0.8% | 2.1% | 3.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.5% | 28.4% | 28.3% | 28.9% |
| Operating margin | 11.5% | 11.8% | 12.6% | 13.5% |
| Net margin | 10.7% | 10.6% | 10.9% | 10.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 22.7 | 19.2 | 22.0 | 10.9 | 62.8 | 18.7 | 14.6 | 16.8 | 20.6 | 16.7 |
| Price to sales | 2.5 | 2.0 | 1.9 | 1.3 | 7.6 | 1.9 | 1.8 | 1.9 | 2.3 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 28 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 105.00 | 50.00 | 50.00 | 45.00 | 45.00 | 40.00 | 40.00 | 35.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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