D 
670
+2.60%
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
¥5.14bn
FY2017FY2026
Net income
¥268.0m
FY2017FY2026
Free cash flow
−¥309.7m
FY2017FY2026
Shareholders' equity
¥476.5m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥5.14bn | ¥5.14bn | ¥5.01bn | ¥4.41bn | ¥2.99bn | ¥3.33bn | ¥2.78bn | ¥2.26bn | ¥2.54bn | ¥1.83bn |
| Research and development | ¥48.7m | ¥808.0m | ¥794.0m | ¥662.0m | ¥441.0m | ¥287.0m | ¥124.0m | ¥151.0m | ¥134.1m | ¥161.0m |
| Operating income | ¥22.9m | −¥688.3m | −¥805.9m | −¥719.6m | −¥426.5m | ¥348.8m | ¥263.1m | ¥38.0m | ¥290.0m | ¥105.8m |
| Net income | ¥268.0m | −¥3.95bn | −¥807.2m | −¥664.9m | −¥410.8m | ¥283.9m | ¥201.8m | ¥21.3m | ¥210.6m | ¥102.0m |
| Diluted earnings per share | 21.12 | -311.41 | -63.60 | -52.45 | -32.48 | 26.73 | 19.00 | 2.01 | 19.83 | 9.70 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥8.36bn | ¥7.79bn | ¥7.90bn | ¥7.44bn | ¥2.26bn | ¥2.28bn | ¥1.99bn | ¥1.58bn | ¥1.78bn | ¥1.32bn |
| Cash and short-term investments | ¥1.02bn | ¥1.22bn | ¥1.42bn | ¥1.08bn | ¥380.0m | ¥1.06bn | ¥1.12bn | ¥705.5m | ¥895.9m | ¥453.3m |
| Total liabilities | ¥7.88bn | ¥7.57bn | ¥4.68bn | ¥3.42bn | ¥977.2m | ¥709.9m | ¥687.5m | ¥452.8m | ¥651.6m | ¥404.4m |
| Debt | ¥5.29bn | ¥4.81bn | ¥2.46bn | ¥1.47bn | ¥400.0m | ¥2.7m | ¥16.0m | ¥29.2m | ¥42.1m | ¥54.8m |
| Shareholders' equity | ¥476.5m | ¥221.7m | ¥3.19bn | ¥3.97bn | ¥1.26bn | ¥1.54bn | ¥1.28bn | ¥1.12bn | ¥1.13bn | ¥914.8m |
| Shares outstanding | 13m | 13m | 13m | 13m | 13m | 11m | 11m | 11m | 11m | 11m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥219.3m | −¥1.88bn | ¥120.1m | −¥198.4m | −¥443.0m | ¥395.9m | ¥532.9m | −¥76.5m | ¥545.4m | ¥184.1m |
| Capital spending | −¥90.4m | −¥12.7m | −¥55.3m | −¥725.2m | −¥596.8m | −¥327.8m | −¥129.9m | −¥17.8m | −¥28.2m | −¥18.8m |
| Free cash flow | −¥309.7m | −¥1.89bn | ¥64.8m | −¥923.6m | −¥1.04bn | ¥68.2m | ¥402.9m | −¥94.4m | ¥517.2m | ¥165.3m |
| Dividends paid | −¥2,000 | −¥1,000 | −¥71,000 | −¥70.8m | −¥63.7m | −¥42.5m | −¥28.3m | −¥28.2m | −¥17.5m | −¥17.0m |
Latest quarters
By quarter end
| Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.64bn | ¥1.42bn | ¥1.10bn | ¥991.2m | ¥1.67bn | ¥1.10bn | ¥1.08bn | ¥1.28bn |
| Operating income | ¥264.0m | ¥150.0m | −¥243.9m | −¥144.5m | ¥112.9m | −¥281.0m | −¥348.2m | −¥172.1m |
| Net income | ¥177.7m | ¥149.5m | −¥3.5m | −¥55.7m | −¥2.39bn | −¥252.8m | −¥319.4m | −¥988.0m |
| Diluted earnings per share | 14.00 | 11.78 | -0.27 | -4.39 | -188.47 | -19.92 | -25.17 | -77.85 |
| Cash from operations | — | — | — | — | −¥145.0m | — | — | — |
| Capital spending | — | — | — | — | −¥9.0m | — | — | — |
| Free cash flow | — | — | — | — | −¥154.0m | — | — | — |
| Total assets | ¥6.80bn | ¥6.05bn | ¥4.88bn | ¥4.72bn | ¥7.79bn | ¥7.81bn | ¥6.98bn | ¥7.90bn |
| Cash and short-term investments | ¥1.02bn | ¥1.03bn | ¥872.4m | ¥1.68bn | ¥1.22bn | ¥1.14bn | ¥1.03bn | ¥1.42bn |
| Debt | ¥5.29bn | ¥2.02bn | ¥3.82bn | ¥820.0m | ¥2.32bn | ¥4.40bn | ¥1.27bn | ¥2.46bn |
| Shareholders' equity | ¥476.5m | ¥301.3m | ¥151.8m | ¥153.7m | ¥221.7m | ¥2.61bn | ¥2.87bn | ¥3.19bn |
Financial ratios
Data as of 13 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating margin | 0.4% | -13.4% | -16.1% | -11.3% | -10.6% | 10.5% |
| Net margin | 5.2% | -76.9% | -16.1% | -15.1% | -13.7% | 8.5% |
| Return on equity | 56.2% | -1782.9% | -25.3% | -16.8% | -32.7% | 18.4% |
| Return on assets | 3.2% | -50.7% | -10.2% | -8.9% | -18.1% | 12.5% |
| Free cash flow yield | -1.4% | -20.5% | 1.9% | 5.8% | 1.7% | 9.5% |
| Revenue growth | 0.1% | 2.6% | 13.5% | 47.5% | -10.2% | 19.7% |
| Earnings growth | -106.8% | 389.6% | 21.4% | 61.8% | -244.7% | 40.7% |
| Current ratio | 1.32x | 1.24x | 1.65x | 1.12x | 1.12x | 2.04x |
| Debt to equity | 11.10x | 10.47x | 0.77x | 0.37x | 0.32x | 0.00x |
| Equity ratio | 5.7% | 2.8% | 40.4% | 53.3% | 55.5% | 67.8% |
| Interest coverage | 0.45x | -24.29x | -46.27x | -51.30x | -83.91x | 221.99x |
| R&D as a share of sales | 0.9% | 15.7% | 15.9% | 15.0% | 14.7% | 8.6% |
| Buybacks as a share of market value | 0.0% | 0.0% | -0.1% | -0.2% | -19.1% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.2% | 9.1% | 18.2% |
| Operating income | — | -42.0% | — |
| Net income | — | -1.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -6.5% | -11.1% | -8.7% | -5.6% |
| Net margin | -35.8% | -26.2% | -20.3% | -14.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 32.3 | -1.6 | -7.3 | -15.9 | -76.4 | 69.2 | 66.2 | 474.9 | 24.6 | 71.1 |
| Price to sales | 1.7 | 1.2 | 1.2 | 2.4 | 10.5 | 5.9 | 4.8 | 4.5 | 2.0 | 4.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Jun 2022.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 6.67 | 5.333 | 4.00 | 2.667 | 2.667 | 1.667 | 1.667 | 5.833 |
- 3-for-1 split · 29 Sept 2021
- 2-for-1 split · 25 Sept 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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