H 
167
+5.03%
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
¥3.65bn
FY2016FY2025
Net income
−¥1.79bn
FY2016FY2025
Free cash flow
−¥376.4m
FY2016FY2025
Shareholders' equity
¥4.03bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.65bn | ¥4.27bn | ¥4.74bn | ¥7.91bn | ¥6.57bn | ¥4.39bn | ¥3.70bn | ¥3.24bn | ¥2.58bn | ¥2.19bn |
| Gross profit | ¥1.17bn | ¥1.29bn | ¥1.57bn | ¥2.16bn | ¥2.16bn | ¥1.61bn | ¥1.11bn | ¥1.33bn | ¥1.21bn | ¥1.06bn |
| Research and development | ¥28.3m | ¥36.4m | ¥9.2m | ¥12.1m | ¥11.5m | ¥15.0m | ¥44.3m | ¥28.1m | ¥28.9m | ¥27.5m |
| Operating income | −¥226.0m | −¥90.9m | ¥242.8m | ¥192.2m | ¥347.6m | −¥59.3m | −¥781.7m | ¥328.1m | ¥155.5m | −¥654.1m |
| Net income | −¥1.79bn | −¥564.6m | ¥226.6m | ¥1.82bn | ¥764.3m | ¥18.6m | −¥1.63bn | ¥111.1m | ¥141.0m | −¥640.0m |
| Diluted earnings per share | -113.98 | -36.00 | 14.45 | 116.30 | 48.84 | 1.21 | -106.28 | 7.23 | 11.04 | -52.48 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥6.00bn | ¥7.87bn | ¥8.49bn | ¥8.47bn | ¥7.31bn | ¥5.77bn | ¥5.39bn | ¥5.82bn | ¥4.59bn | ¥4.33bn |
| Cash and short-term investments | ¥2.43bn | ¥3.30bn | ¥3.50bn | ¥3.60bn | ¥2.60bn | ¥2.07bn | ¥1.70bn | ¥1.98bn | ¥1.07bn | ¥941.0m |
| Total liabilities | ¥1.96bn | ¥2.02bn | ¥2.35bn | ¥2.52bn | ¥3.18bn | ¥2.80bn | ¥2.33bn | ¥1.18bn | ¥1.98bn | ¥2.44bn |
| Debt | ¥980.3m | ¥978.3m | ¥1.18bn | ¥1.35bn | ¥1.61bn | ¥1.54bn | ¥1.39bn | ¥364.8m | ¥1.43bn | ¥1.94bn |
| Shareholders' equity | ¥4.03bn | ¥5.86bn | ¥6.14bn | ¥5.95bn | ¥3.87bn | ¥2.79bn | ¥2.83bn | ¥4.61bn | ¥2.56bn | ¥1.89bn |
| Shares outstanding | 16m | 16m | 16m | 16m | 16m | 15m | 15m | 15m | 13m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥240.0m | ¥295.6m | ¥698.1m | ¥793.6m | ¥678.7m | ¥466.4m | −¥379.6m | ¥222.4m | ¥470.4m | ¥308.6m |
| Capital spending | −¥616.3m | −¥401.1m | −¥10.4m | −¥340,000 | −¥746,000 | −¥1.1m | −¥2.0m | −¥670,000 | −¥1.0m | −¥32.2m |
| Free cash flow | −¥376.4m | −¥105.5m | ¥687.7m | ¥793.2m | ¥678.0m | ¥465.3m | −¥381.6m | ¥221.7m | ¥469.4m | ¥276.4m |
| Dividends paid | −¥46.6m | — | — | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥918.8m | ¥996.7m | ¥1.06bn | ¥860.4m | ¥806.7m | ¥921.7m | ¥1.01bn | ¥971.6m |
| Gross profit | ¥336.0m | ¥393.9m | ¥328.8m | ¥264.7m | ¥245.1m | ¥326.8m | ¥319.6m | ¥280.3m |
| Operating income | −¥21.9m | ¥40.0m | −¥44.2m | −¥62.6m | −¥95.0m | −¥24.2m | −¥50.0m | −¥51.6m |
| Net income | −¥68.9m | −¥46.0m | −¥1.53bn | −¥26.6m | −¥124.8m | −¥104.6m | −¥570.0m | −¥213.2m |
| Diluted earnings per share | -4.50 | -3.00 | -97.65 | -1.70 | -7.96 | -6.67 | -36.34 | -13.59 |
| Cash from operations | −¥21.0m | ¥65.0m | ¥80.0m | ¥52.0m | ¥97.0m | ¥9.0m | ¥83.0m | −¥48.0m |
| Capital spending | — | −¥3.0m | −¥616.0m | — | −¥97.0m | −¥9.0m | −¥83.0m | −¥48.0m |
| Free cash flow | — | ¥62.0m | −¥536.0m | — | ¥0 | ¥0 | ¥0 | −¥96.0m |
| Total assets | ¥5.64bn | ¥5.74bn | ¥6.00bn | ¥7.15bn | ¥7.18bn | ¥7.54bn | ¥7.87bn | ¥8.16bn |
| Cash and short-term investments | ¥2.18bn | ¥2.31bn | ¥2.43bn | ¥2.85bn | ¥2.97bn | ¥3.07bn | ¥3.30bn | ¥3.26bn |
| Debt | ¥646.2m | ¥230.5m | ¥740.5m | ¥194.9m | ¥614.1m | ¥196.0m | ¥196.1m | ¥193.0m |
| Shareholders' equity | ¥3.89bn | ¥3.93bn | ¥4.03bn | ¥5.42bn | ¥5.40bn | ¥5.61bn | ¥5.86bn | ¥6.14bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 31.9% | 30.2% | 33.0% | 27.3% | 32.9% | 36.8% |
| Operating margin | -6.2% | -2.1% | 5.1% | 2.4% | 5.3% | -1.4% |
| Net margin | -49.0% | -13.2% | 4.8% | 23.0% | 11.6% | 0.4% |
| Return on equity | -44.3% | -9.6% | 3.7% | 30.6% | 19.8% | 0.7% |
| Return on assets | -29.8% | -7.2% | 2.7% | 21.5% | 10.4% | 0.3% |
| Free cash flow yield | 7.5% | 9.2% | 21.7% | 24.8% | 21.2% | 14.8% |
| Revenue growth | -14.5% | -9.9% | -40.1% | 20.3% | 49.8% | 18.7% |
| Earnings growth | 216.5% | -349.2% | -87.5% | 137.9% | 4003.1% | -101.1% |
| Current ratio | 3.41x | 4.62x | 4.16x | 4.83x | 3.07x | 2.91x |
| Debt to equity | 0.18x | 0.12x | 0.14x | 0.16x | 0.31x | 0.33x |
| Equity ratio | 67.3% | 74.4% | 72.3% | 70.2% | 52.9% | 48.4% |
| Interest coverage | -1.22x | -8.83x | 14.33x | 0.44x | 15.14x | -2.62x |
| R&D as a share of sales | 0.8% | 0.9% | 0.2% | 0.2% | 0.2% | 0.3% |
| Buybacks as a share of market value | 0.0% | 0.0% | -0.3% | 0.1% | -1.5% | -0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -22.7% | -3.6% | 4.1% |
| Operating income | — | 30.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 31.0% | 30.1% | 31.6% | 34.8% |
| Operating margin | -4.0% | 0.6% | 1.3% | -0.9% |
| Net margin | -29.7% | -1.5% | 1.5% | -3.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.2 | -6.8 | 21.2 | 3.0 | 16.4 | 418.8 | -3.4 | 57.5 | 73.8 | -9.2 |
| Price to sales | 1.1 | 0.9 | 1.0 | 0.7 | 1.9 | 1.8 | 1.5 | 2.0 | 4.0 | 2.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | |
|---|---|
| Paid in the year | 6.00 |
- 5-for-1 split · 26 Feb 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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