M 
14
+27.27%
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
¥2.81bn
FY2016FY2025
Net income
−¥526.7m
FY2016FY2025
Free cash flow
−¥368.5m
FY2016FY2025
Shareholders' equity
¥1.33bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.81bn | ¥3.07bn | ¥3.37bn | ¥3.59bn | ¥4.54bn | ¥6.66bn | ¥6.68bn | ¥7.25bn | ¥3.30bn | ¥3.10bn |
| Gross profit | ¥1.68bn | ¥1.86bn | ¥1.88bn | ¥1.94bn | ¥2.18bn | ¥2.74bn | ¥1.95bn | ¥2.50bn | ¥607.0m | ¥1.36bn |
| Operating income | −¥329.0m | −¥160.2m | −¥420.8m | −¥409.4m | −¥373.3m | −¥623.7m | −¥1.08bn | −¥528.8m | −¥1.33bn | −¥320.1m |
| Net income | −¥526.7m | −¥169.0m | −¥380.8m | −¥448.7m | −¥1.09bn | −¥721.8m | −¥1.43bn | −¥1.22bn | −¥1.35bn | −¥333.2m |
| Diluted earnings per share | -7.06 | -3.59 | -8.53 | -11.21 | -32.06 | -24.43 | -60.49 | -69.54 | -80.73 | -22.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥3.24bn | ¥2.25bn | ¥2.50bn | ¥3.17bn | ¥2.79bn | ¥3.62bn | ¥6.94bn | ¥4.47bn | ¥3.05bn | ¥3.79bn |
| Cash and short-term investments | ¥1.18bn | ¥457.5m | ¥601.5m | ¥856.3m | ¥337.9m | ¥509.1m | ¥988.2m | ¥1.11bn | ¥1.16bn | ¥2.46bn |
| Total liabilities | ¥1.83bn | ¥1.87bn | ¥2.10bn | ¥2.42bn | ¥2.62bn | ¥2.76bn | ¥6.26bn | ¥3.55bn | ¥1.41bn | ¥1.64bn |
| Debt | ¥1.24bn | ¥1.34bn | ¥1.34bn | ¥1.48bn | ¥1.45bn | ¥1.45bn | ¥3.56bn | ¥1.80bn | ¥631.5m | ¥1.06bn |
| Shareholders' equity | ¥1.33bn | ¥316.0m | ¥355.3m | ¥735.6m | ¥174.2m | ¥865.2m | ¥681.7m | ¥909.8m | ¥1.63bn | ¥2.15bn |
| Shares outstanding | 75m | 47m | 45m | 40m | 34m | 30m | 24m | 18m | 17m | 15m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥345.0m | −¥192.5m | −¥199.9m | −¥449.7m | −¥584.7m | −¥928.8m | −¥737.0m | −¥403.1m | −¥1.14bn | ¥21.0m |
| Capital spending | −¥23.4m | −¥22.3m | −¥23.5m | −¥28.2m | −¥43.8m | −¥96.2m | −¥176.3m | −¥101.7m | −¥688,000 | −¥5.0m |
| Free cash flow | −¥368.5m | −¥214.8m | −¥223.4m | −¥477.9m | −¥628.5m | −¥1.02bn | −¥913.3m | −¥504.9m | −¥1.14bn | ¥16.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥691.3m | ¥687.8m | ¥738.6m | ¥631.6m | ¥718.8m | ¥717.6m | ¥745.0m | ¥641.0m |
| Gross profit | ¥431.1m | ¥405.1m | ¥453.4m | ¥372.1m | ¥425.3m | ¥409.8m | ¥448.8m | ¥377.2m |
| Operating income | −¥86.7m | −¥90.8m | −¥64.1m | −¥99.1m | −¥65.8m | −¥99.9m | −¥93.8m | −¥112.7m |
| Net income | −¥109.7m | −¥205.1m | −¥244.0m | −¥97.1m | −¥84.5m | −¥101.1m | −¥132.8m | −¥107.7m |
| Diluted earnings per share | -1.24 | -2.31 | -3.27 | -1.30 | -1.13 | -1.36 | -2.82 | -2.29 |
| Total assets | ¥3.03bn | ¥2.95bn | ¥3.24bn | ¥2.22bn | ¥2.31bn | ¥2.38bn | ¥2.25bn | ¥2.17bn |
| Cash and short-term investments | ¥719.6m | ¥961.8m | ¥1.18bn | ¥417.3m | ¥567.7m | ¥557.7m | ¥457.5m | ¥396.7m |
| Debt | ¥1.17bn | ¥757.0m | ¥1.23bn | ¥310.2m | ¥1.22bn | ¥309.0m | ¥355.1m | ¥309.0m |
| Shareholders' equity | ¥1.22bn | ¥1.12bn | ¥1.33bn | ¥372.5m | ¥469.0m | ¥463.2m | ¥316.0m | ¥288.8m |
Financial ratios
Data as of 26 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 59.9% | 60.6% | 55.7% | 54.1% | 48.2% | 41.1% |
| Operating margin | -17.0% | -4.4% | -10.4% | -11.8% | -23.4% | -9.3% |
| Net margin | -18.8% | -5.5% | -11.3% | -12.5% | -24.1% | -10.8% |
| Return on equity | -39.6% | -53.5% | -107.2% | -61.0% | -627.6% | -83.4% |
| Return on assets | -16.3% | -7.5% | -15.3% | -14.2% | -39.2% | -19.9% |
| Free cash flow yield | -28.8% | -24.1% | -26.4% | -70.2% | -105.7% | -187.9% |
| Revenue growth | -8.6% | -8.9% | -6.0% | -20.9% | -31.9% | -0.3% |
| Earnings growth | 211.6% | -55.6% | -15.1% | -59.0% | 51.5% | -49.5% |
| Current ratio | 1.77x | 1.47x | 1.46x | 1.65x | 1.15x | 0.94x |
| Debt to equity | 0.92x | 4.15x | 3.64x | 1.96x | 8.32x | 1.68x |
| Equity ratio | 41.1% | 14.1% | 14.2% | 23.2% | 6.2% | 23.9% |
| Interest coverage | -18.49x | -5.61x | -16.07x | -18.53x | -43.07x | -11.87x |
| Buybacks as a share of market value | -58.3% | -5.5% | -11.5% | -17.4% | -15.4% | -25.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.8% | -15.9% | -3.3% |
| Operating income | -7.0% | -12.0% | -3.0% |
| Net income | 5.5% | -6.1% | -10.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 60.3% | 57.3% | 51.1% | 42.0% |
| Operating margin | -8.3% | -10.3% | -9.6% | -12.5% |
| Net margin | -11.8% | -11.9% | -13.9% | -19.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.8 | -9.5 | -6.5 | -7.6 | -2.2 | -5.5 | -5.6 | -4.4 | -9.1 | -41.7 |
| Price to sales | 0.9 | 0.5 | 0.7 | 0.9 | 0.5 | 0.6 | 1.2 | 0.7 | 3.7 | 4.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 29 May 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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