C 
1,133
+6.89%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥3.45bn
FY2016FY2025
Net income
¥420.7m
FY2016FY2025
Free cash flow
¥831.4m
FY2016FY2025
Shareholders' equity
¥4.06bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.45bn | ¥3.17bn | ¥2.99bn | ¥2.84bn | ¥2.89bn | ¥2.35bn | ¥1.78bn | ¥1.64bn | ¥1.26bn | ¥1.33bn |
| Gross profit | ¥2.07bn | ¥1.72bn | ¥1.73bn | ¥1.35bn | ¥1.46bn | ¥1.40bn | ¥1.15bn | ¥1.10bn | ¥882.3m | ¥958.3m |
| Research and development | ¥187.9m | ¥159.7m | ¥189.4m | ¥76.9m | ¥74.0m | ¥71.3m | ¥90.7m | ¥76.8m | ¥89.0m | ¥62.1m |
| Operating income | ¥554.4m | ¥368.4m | ¥351.1m | ¥97.4m | ¥284.5m | ¥455.3m | ¥368.6m | ¥401.6m | ¥118.8m | ¥326.4m |
| Net income | ¥420.7m | ¥304.5m | ¥232.6m | −¥339.6m | ¥199.7m | ¥373.7m | ¥259.3m | ¥284.5m | ¥80.1m | ¥203.4m |
| Diluted earnings per share | 80.50 | 58.27 | 44.52 | -62.23 | 36.59 | 68.43 | 45.39 | 47.84 | 14.41 | 43.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥5.84bn | ¥5.36bn | ¥5.16bn | ¥5.02bn | ¥5.53bn | ¥5.24bn | ¥4.40bn | ¥4.26bn | ¥3.46bn | ¥2.46bn |
| Cash and short-term investments | ¥4.24bn | ¥3.63bn | ¥3.49bn | ¥3.32bn | ¥3.89bn | ¥3.45bn | ¥2.89bn | ¥2.85bn | ¥2.52bn | ¥1.52bn |
| Total liabilities | ¥1.74bn | ¥1.59bn | ¥1.61bn | ¥1.48bn | ¥1.57bn | ¥1.56bn | ¥1.70bn | ¥1.92bn | ¥1.53bn | ¥617.5m |
| Debt | ¥1.00bn | ¥1.00bn | ¥1.00bn | ¥1.00bn | ¥1.00bn | ¥1.02bn | ¥1.33bn | ¥1.33bn | ¥1.33bn | ¥310.0m |
| Shareholders' equity | ¥4.06bn | ¥3.74bn | ¥3.52bn | ¥3.51bn | ¥3.94bn | ¥3.67bn | ¥2.69bn | ¥2.34bn | ¥1.93bn | ¥1.84bn |
| Shares outstanding | 5m | 5m | 5m | 5m | 5m | 5m | 6m | 6m | 6m | 5m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥849.7m | ¥328.3m | ¥495.4m | ¥23.3m | ¥546.2m | ¥445.6m | ¥118.9m | ¥372.8m | ¥74.9m | ¥275.4m |
| Capital spending | −¥18.3m | −¥35.7m | −¥12.0m | −¥88.0m | −¥45.8m | −¥18.4m | −¥12.8m | −¥5.6m | −¥15.6m | −¥3.6m |
| Free cash flow | ¥831.4m | ¥292.7m | ¥483.4m | −¥64.7m | ¥500.3m | ¥427.3m | ¥106.1m | ¥367.2m | ¥59.3m | ¥271.7m |
| Dividends paid | −¥104.5m | −¥77.9m | −¥17,000 | −¥96.9m | −¥96.0m | −¥96.0m | −¥96.0m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥875.6m | ¥1.05bn | ¥803.1m | ¥836.7m | ¥756.0m | ¥994.0m | ¥861.9m | ¥929.8m |
| Gross profit | ¥550.2m | ¥712.9m | ¥468.5m | ¥481.3m | ¥454.4m | ¥646.7m | ¥491.2m | ¥547.3m |
| Operating income | ¥93.8m | ¥269.8m | ¥31.4m | ¥86.5m | ¥80.4m | ¥251.3m | ¥136.2m | ¥179.1m |
| Net income | ¥71.1m | ¥196.2m | ¥26.2m | ¥93.1m | ¥56.2m | ¥169.7m | ¥101.7m | ¥136.8m |
| Diluted earnings per share | 13.61 | 37.55 | 5.01 | 17.81 | 10.75 | 32.48 | 19.47 | 26.19 |
| Cash from operations | — | — | — | ¥849.0m | — | — | — | — |
| Capital spending | — | — | — | −¥18.0m | — | — | — | — |
| Free cash flow | — | — | — | ¥831.0m | — | — | — | — |
| Total assets | ¥4.81bn | ¥4.84bn | ¥4.63bn | ¥5.84bn | ¥5.77bn | ¥5.75bn | ¥5.52bn | ¥5.36bn |
| Cash and short-term investments | ¥3.13bn | ¥2.84bn | ¥2.87bn | ¥4.24bn | ¥4.19bn | ¥3.93bn | ¥3.96bn | ¥3.63bn |
| Debt | — | — | — | ¥1.00bn | ¥1.00bn | ¥1.00bn | ¥1.00bn | — |
| Shareholders' equity | ¥4.18bn | ¥4.17bn | ¥3.97bn | ¥4.06bn | ¥3.96bn | ¥3.90bn | ¥3.74bn | ¥3.74bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 60.1% | 54.2% | 57.9% | 47.4% | 50.6% | 59.7% | — | — |
| Operating margin | 16.1% | 11.6% | 11.7% | 3.4% | 9.8% | 19.4% | — | — |
| Net margin | 12.2% | 9.6% | 7.8% | -12.0% | 6.9% | 15.9% | — | — |
| Return on equity | 10.4% | 8.1% | 6.6% | -9.7% | 5.1% | 10.2% | — | — |
| Return on assets | 7.2% | 5.7% | 4.5% | -6.8% | 3.6% | 7.1% | — | — |
| Free cash flow yield | 13.8% | 5.8% | 8.1% | 1.7% | 9.0% | 7.1% | — | — |
| Revenue growth | 8.9% | 5.9% | 5.3% | -1.8% | 23.1% | 31.7% | — | — |
| Earnings growth | 38.2% | 30.9% | -168.5% | -270.1% | -46.6% | 44.1% | — | — |
| Current ratio | 3.16x | 11.47x | 9.99x | 13.48x | 11.78x | 3.06x | — | — |
| Debt to equity | 0.25x | 0.27x | 0.28x | 0.28x | 0.25x | 0.28x | — | — |
| Equity ratio | 69.4% | 69.8% | 68.2% | 70.0% | 71.3% | 70.1% | — | — |
| Interest coverage | — | — | — | — | 48.87x | — | 20.95x | 36.75x |
| R&D as a share of sales | 5.4% | 5.0% | 6.3% | 2.7% | 2.6% | 3.0% | — | — |
| Buybacks as a share of market value | -0.0% | -0.0% | 4.3% | 0.0% | 0.1% | 4.4% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.7% | 8.0% | 11.2% |
| Operating income | 78.5% | 4.0% | 7.6% |
| Net income | — | 2.4% | 10.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 57.3% | 55.2% | 55.0% | 58.6% |
| Operating margin | 13.9% | 11.0% | 11.9% | 14.4% |
| Net margin | 11.0% | 5.0% | 6.7% | 8.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.6 | 13.2 | 20.2 | -14.3 | 37.3 | 38.2 | 42.6 | 66.6 | 134.7 | 72.7 |
| Price to sales | 1.7 | 1.3 | 1.6 | 1.7 | 2.6 | 6.1 | 6.2 | 11.5 | 8.6 | 11.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 29 Sept 2025.
| FY2026 | FY2025 | FY2024 | FY2022 | |
|---|---|---|---|---|
| Paid in the year | 25.00 | 20.00 | 15.00 | 20.00 |
- 3-for-1 split · 27 Mar 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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