A 
72
+5.88%
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
¥2.65bn
FY2016FY2025
Net income
¥177.8m
FY2016FY2025
Free cash flow
−¥1.22bn
FY2016FY2025
Shareholders' equity
¥2.06bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.65bn | ¥1.42bn | ¥671.2m | ¥642.5m | ¥480.1m | ¥476.9m | ¥654.1m | ¥674.1m | ¥593.8m | ¥712.9m |
| Gross profit | ¥946.3m | ¥388.5m | ¥155.1m | ¥149.2m | ¥97.2m | ¥53.5m | ¥159.7m | ¥147.7m | ¥84.3m | ¥117.9m |
| Operating income | ¥275.2m | ¥120.3m | ¥1.8m | ¥23.9m | −¥63.7m | −¥84.1m | ¥14.9m | ¥10.6m | −¥70.3m | −¥57.1m |
| Net income | ¥177.8m | ¥147.5m | −¥70.6m | ¥14.7m | −¥129.4m | −¥85.5m | ¥6.5m | ¥2.5m | −¥75.5m | −¥68.2m |
| Diluted earnings per share | 9.91 | 6.16 | -2.90 | 0.64 | -5.60 | -3.92 | 0.31 | 0.14 | -4.08 | -4.55 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥5.06bn | ¥2.34bn | ¥1.20bn | ¥985.9m | ¥1.01bn | ¥1.09bn | ¥799.8m | ¥657.9m | ¥613.3m | ¥383.6m |
| Cash and short-term investments | ¥388.7m | ¥255.7m | ¥730.6m | ¥748.5m | ¥750.4m | ¥797.7m | ¥477.8m | ¥453.2m | ¥453.7m | ¥234.1m |
| Total liabilities | ¥3.00bn | ¥1.16bn | ¥94.9m | ¥129.7m | ¥160.6m | ¥251.5m | ¥150.6m | ¥149.4m | ¥107.3m | ¥169.6m |
| Debt | ¥1.26bn | ¥408.4m | −¥5.0m | ¥22.2m | ¥84.7m | ¥178.4m | ¥77.1m | ¥65.0m | ¥35.0m | ¥81.1m |
| Shareholders' equity | ¥2.06bn | ¥1.18bn | ¥1.10bn | ¥856.2m | ¥850.6m | ¥840.2m | ¥649.2m | ¥508.5m | ¥506.0m | ¥214.0m |
| Shares outstanding | 18m | 24m | 24m | 23m | 23m | 22m | 21m | 19m | 19m | 15m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥1.04bn | −¥867.8m | −¥115.5m | ¥44.9m | −¥73.6m | −¥67.2m | ¥80.5m | −¥35.6m | −¥91.4m | −¥43.2m |
| Capital spending | −¥173.4m | −¥330.5m | −¥247.0m | −¥260,000 | −¥3.7m | −¥4.5m | −¥3.7m | −¥120,000 | −¥6.9m | −¥1.0m |
| Free cash flow | −¥1.22bn | −¥1.20bn | −¥362.5m | ¥44.7m | −¥77.4m | −¥71.7m | ¥76.8m | −¥35.7m | −¥98.4m | −¥44.2m |
Latest quarters
By quarter end
| Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥553.3m | ¥892.4m | ¥897.7m | ¥438.0m | ¥425.5m | ¥668.2m | ¥338.6m | ¥247.3m |
| Gross profit | ¥413.2m | ¥339.9m | ¥289.7m | ¥202.3m | ¥114.4m | ¥179.6m | ¥111.2m | ¥56.9m |
| Operating income | ¥133.1m | ¥47.0m | ¥114.5m | ¥59.7m | ¥54.0m | ¥99.3m | ¥13.7m | ¥19.1m |
| Net income | ¥109.5m | −¥9.7m | ¥90.1m | ¥44.1m | ¥53.3m | ¥102.7m | ¥27.3m | ¥18.0m |
| Diluted earnings per share | 3.49 | -0.54 | 5.02 | 2.46 | 2.97 | 4.29 | 1.14 | 0.75 |
| Total assets | ¥6.64bn | ¥5.06bn | ¥3.54bn | ¥2.72bn | ¥2.36bn | ¥2.34bn | ¥1.43bn | ¥1.48bn |
| Cash and short-term investments | ¥722.8m | ¥388.7m | ¥585.9m | ¥500.0m | ¥99.2m | ¥255.7m | ¥78.6m | ¥413.8m |
| Debt | ¥314.7m | ¥1.11bn | ¥272.9m | ¥558.3m | ¥265.6m | ¥163.7m | ¥56.7m | ¥150.0m |
| Shareholders' equity | ¥2.67bn | ¥2.06bn | ¥2.05bn | ¥1.66bn | ¥1.20bn | ¥1.18bn | ¥1.13bn | ¥1.12bn |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2007 | FY2006 | FY2005 | FY2004 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 35.7% | 27.3% | 23.1% | 23.2% | 20.2% | 11.2% | — | — | — | — | — |
| Operating margin | 10.4% | 8.5% | 0.3% | 3.7% | -13.3% | -17.6% | — | — | — | — | — |
| Net margin | 6.7% | 10.4% | -10.5% | 2.3% | -27.0% | -17.9% | — | — | — | — | — |
| Return on equity | 8.6% | 12.5% | -6.4% | 1.7% | -15.2% | -10.2% | — | — | — | — | — |
| Return on assets | 3.5% | 6.3% | -5.9% | 1.5% | -12.8% | -7.8% | — | — | — | — | — |
| Free cash flow yield | -53.3% | -24.7% | 5.9% | 2.2% | -3.3% | -3.2% | — | — | — | — | — |
| Revenue growth | 86.5% | 112.0% | 4.5% | 33.8% | 0.7% | -27.1% | — | — | — | — | — |
| Earnings growth | 20.5% | -309.1% | -579.6% | -111.4% | 51.3% | -1417.1% | — | — | — | — | — |
| Current ratio | 2.04x | 2.44x | 13.00x | 7.91x | 7.35x | 6.06x | — | — | — | — | — |
| Debt to equity | 0.54x | 0.34x | -0.00x | 0.03x | 0.10x | 0.21x | — | — | — | — | — |
| Equity ratio | 40.7% | 50.5% | 92.1% | 86.8% | 84.1% | 77.0% | — | — | — | — | — |
| Interest coverage | 13.21x | 36.96x | — | 478.22x | -122.26x | -60.36x | 14.89x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | — | 1.1% | 0.1% | 0.4% | 1.2% |
| Buybacks as a share of market value | 25.1% | 1.5% | -5.2% | 0.0% | -6.0% | -3.7% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 60.4% | 41.0% | 14.0% |
| Operating income | 125.8% | — | 48.7% |
| Net income | 129.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 32.7% | 30.4% | 28.2% | 25.5% |
| Operating margin | 9.7% | 7.8% | 4.3% | 1.8% |
| Net margin | 8.0% | 5.0% | 0.9% | -0.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 24.9 | 34.2 | -51.6 | 282.6 | -26.2 | -68.1 | 436.9 | — | -50.3 | -18.9 |
| Price to sales | 1.7 | 3.5 | 5.4 | 6.5 | 7.1 | 12.2 | 4.3 | 2.2 | 6.4 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | FY2005 | FY2004 | |
|---|---|---|---|
| Paid in the year | 3.00 | 10.00 | 5.00 |
- 2-for-1 split · 27 Jun 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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