E 
17
-5.56%
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
¥2.17bn
FY2016FY2025
Net income
−¥1.15bn
FY2016FY2025
Free cash flow
−¥876.6m
FY2016FY2025
Shareholders' equity
¥766.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.17bn | ¥3.32bn | ¥3.51bn | ¥4.12bn | ¥3.89bn | ¥4.07bn | ¥3.96bn | ¥5.45bn | ¥4.38bn | ¥4.97bn |
| Gross profit | −¥323.6m | ¥29.5m | −¥377.4m | ¥348.4m | ¥505.9m | ¥335.4m | −¥697.5m | ¥178.0m | ¥201.0m | ¥672.1m |
| Operating income | −¥856.7m | −¥809.7m | −¥1.21bn | −¥338.7m | −¥237.9m | −¥596.2m | −¥2.92bn | −¥711.1m | −¥897.9m | −¥397.8m |
| Net income | −¥1.15bn | −¥882.2m | −¥1.37bn | −¥415.4m | −¥279.7m | −¥1.04bn | −¥1.47bn | −¥719.1m | −¥982.9m | −¥340.7m |
| Diluted earnings per share | -70.16 | -32.87 | -68.75 | -24.09 | -20.21 | -76.04 | -136.05 | -79.89 | -125.98 | -43.67 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.59bn | ¥1.76bn | ¥1.89bn | ¥2.25bn | ¥1.54bn | ¥2.05bn | ¥1.73bn | ¥1.87bn | ¥1.68bn | ¥2.18bn |
| Cash and short-term investments | ¥994.4m | ¥809.8m | ¥1.09bn | ¥1.56bn | ¥652.9m | ¥1.11bn | ¥890.3m | ¥1.03bn | ¥469.7m | ¥878.7m |
| Total liabilities | ¥827.1m | ¥871.3m | ¥1.38bn | ¥1.12bn | ¥974.7m | ¥1.21bn | ¥1.01bn | ¥567.6m | ¥939.0m | ¥491.9m |
| Debt | ¥331.7m | ¥302.3m | ¥753.0m | ¥551.6m | ¥552.2m | ¥437.8m | ¥551.6m | ¥2.5m | ¥311.6m | ¥141.8m |
| Shareholders' equity | ¥766.5m | ¥889.5m | ¥508.5m | ¥1.13bn | ¥561.7m | ¥840.9m | ¥718.9m | ¥1.31bn | ¥743.2m | ¥1.69bn |
| Shares outstanding | 16m | 27m | 20m | 17m | 14m | 14m | 11m | 9m | 8m | 8m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥873.5m | −¥966.9m | −¥1.34bn | −¥206.3m | −¥526.6m | −¥734.8m | −¥1.52bn | −¥381.7m | −¥885.4m | −¥189.6m |
| Capital spending | −¥3.2m | −¥1.6m | −¥7.4m | −¥6.0m | −¥11.5m | −¥1.6m | −¥4.6m | −¥5.0m | −¥17.5m | −¥23.2m |
| Free cash flow | −¥876.6m | −¥968.5m | −¥1.35bn | −¥212.3m | −¥538.1m | −¥736.4m | −¥1.53bn | −¥386.7m | −¥902.9m | −¥212.8m |
| Dividends paid | — | — | — | — | −¥550.0m | −¥400.2m | — | — | −¥15,000 | −¥119,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥449.4m | ¥476.4m | ¥490.0m | ¥486.4m | ¥519.2m | ¥674.5m | ¥843.6m | ¥898.0m |
| Gross profit | −¥98.1m | −¥143.1m | −¥85.0m | −¥113.3m | −¥117.9m | −¥7.4m | ¥53.1m | ¥99.9m |
| Operating income | −¥264.0m | −¥278.5m | −¥204.0m | −¥268.2m | −¥237.5m | −¥146.9m | −¥110.9m | −¥127.8m |
| Net income | −¥272.0m | −¥307.1m | −¥250.9m | −¥267.5m | −¥475.0m | −¥158.4m | −¥136.9m | −¥134.0m |
| Diluted earnings per share | -5.90 | -6.66 | -15.28 | -16.29 | -28.93 | -9.65 | -5.10 | -4.99 |
| Total assets | ¥1.36bn | ¥1.24bn | ¥1.59bn | ¥1.50bn | ¥1.78bn | ¥1.82bn | ¥1.76bn | ¥1.89bn |
| Cash and short-term investments | ¥754.7m | ¥562.2m | ¥994.4m | ¥893.4m | ¥1.18bn | ¥851.0m | ¥809.8m | ¥952.6m |
| Debt | ¥150.0m | — | ¥330.7m | ¥300.0m | ¥300.0m | ¥300.0m | ¥300.7m | ¥300.0m |
| Shareholders' equity | ¥787.7m | ¥822.4m | ¥766.5m | ¥716.8m | ¥984.3m | ¥1.03bn | ¥889.5m | ¥1.03bn |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -14.9% | 0.9% | -10.8% | 8.5% | 13.0% | 8.2% |
| Operating margin | -51.3% | -24.4% | -34.4% | -8.2% | -6.2% | -29.3% |
| Net margin | -53.1% | -26.6% | -39.2% | -10.1% | -7.2% | -25.6% |
| Return on equity | -150.3% | -99.2% | -270.2% | -36.9% | -49.8% | -124.2% |
| Return on assets | -72.3% | -50.1% | -72.6% | -18.5% | -18.2% | -51.0% |
| Free cash flow yield | -311.9% | -211.5% | -391.8% | -68.3% | -218.9% | -314.1% |
| Revenue growth | -34.6% | -5.5% | -14.8% | 5.8% | -4.4% | 2.9% |
| Earnings growth | 30.5% | -35.8% | 230.8% | 48.5% | -73.2% | -29.0% |
| Current ratio | 1.60x | 1.72x | 1.16x | 1.80x | 1.38x | 1.43x |
| Debt to equity | 0.43x | 0.34x | 1.48x | 0.49x | 0.98x | 0.52x |
| Equity ratio | 48.1% | 50.5% | 26.9% | 50.1% | 36.6% | 41.1% |
| Interest coverage | -31.75x | -19.49x | -19.81x | -7.69x | -6.40x | -27.21x |
| Buybacks as a share of market value | 38.8% | -34.3% | -15.9% | -24.6% | -0.8% | -27.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -19.2% | -11.8% | -8.9% |
| Operating income | 36.3% | 7.5% | -1.5% |
| Net income | 40.5% | 2.0% | -2.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -5.4% | -2.5% | 2.5% | 2.0% |
| Operating margin | -30.4% | -24.5% | -19.2% | -22.0% |
| Net margin | -37.1% | -29.2% | -24.4% | -22.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.8 | -4.3 | -2.5 | -14.6 | -18.6 | -5.8 | -5.0 | -7.1 | -10.3 | -12.4 |
| Price to sales | 0.4 | 1.2 | 1.0 | 1.5 | 1.3 | 1.5 | 1.8 | 0.9 | 2.3 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Dec 2013.
| FY2014 | FY2013 | |
|---|---|---|
| Paid in the year | 0.18 | 14.00 |
- 2-for-1 split · 26 Sept 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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