F 
267
+5.95%
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
¥2.93bn
FY2017FY2026
Net income
−¥252.7m
FY2017FY2026
Free cash flow
−¥75.8m
FY2017FY2026
Shareholders' equity
¥672.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.93bn | ¥3.06bn | ¥1.69bn | ¥3.01bn | ¥3.25bn | ¥3.40bn | ¥4.52bn | ¥1.42bn | ¥2.11bn | ¥3.15bn |
| Gross profit | ¥367.5m | ¥375.6m | ¥278.9m | ¥768.1m | ¥851.5m | ¥379.3m | ¥1.29bn | ¥274.3m | ¥766.5m | ¥1.18bn |
| Research and development | — | ¥5.9m | ¥8.0m | ¥110.6m | ¥127.0m | ¥54.0m | ¥122.0m | ¥128.0m | ¥111.0m | ¥29.2m |
| Operating income | −¥276.4m | −¥298.9m | −¥150.7m | ¥79.4m | ¥157.8m | −¥272.9m | ¥542.9m | −¥408.7m | ¥68.1m | ¥591.3m |
| Net income | −¥252.7m | −¥382.7m | −¥80.5m | ¥41.3m | ¥114.1m | −¥282.8m | ¥364.6m | −¥408.9m | ¥38.5m | ¥407.1m |
| Diluted earnings per share | -17.30 | -30.76 | -7.58 | 4.37 | 12.06 | -29.91 | 38.56 | -43.25 | 4.07 | 43.06 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.74bn | ¥1.51bn | ¥1.65bn | ¥1.66bn | ¥1.79bn | ¥1.70bn | ¥2.29bn | ¥894.3m | ¥1.26bn | ¥1.53bn |
| Cash and short-term investments | ¥221.7m | ¥453.6m | ¥546.8m | ¥788.1m | ¥676.2m | ¥375.7m | ¥1.58bn | ¥332.6m | ¥588.9m | ¥811.5m |
| Total liabilities | ¥1.07bn | ¥1.01bn | ¥1.22bn | ¥1.09bn | ¥1.26bn | ¥1.27bn | ¥1.58bn | ¥546.6m | ¥503.0m | ¥815.4m |
| Debt | ¥418.6m | ¥665.3m | ¥782.1m | ¥784.9m | ¥644.2m | ¥858.6m | ¥520.3m | ¥294.3m | ¥296.6m | ¥425.9m |
| Shareholders' equity | ¥672.2m | ¥503.9m | ¥429.3m | ¥569.4m | ¥534.2m | ¥428.7m | ¥712.9m | ¥347.6m | ¥757.8m | ¥718.0m |
| Shares outstanding | 15m | 12m | 11m | 9m | 9m | 9m | 9m | 9m | 9m | 9m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥40.8m | −¥75.6m | ¥62.5m | ¥110.9m | ¥552.9m | −¥1.49bn | ¥1.10bn | −¥213.9m | −¥20.1m | ¥505.5m |
| Capital spending | −¥35.1m | −¥67.0m | −¥48.5m | −¥17.0m | −¥35.1m | −¥15.3m | −¥55.5m | −¥34.0m | −¥17.6m | −¥11.2m |
| Free cash flow | −¥75.8m | −¥142.6m | ¥14.0m | ¥93.9m | ¥517.8m | −¥1.51bn | ¥1.05bn | −¥247.9m | −¥37.6m | ¥494.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.42bn | ¥1.23bn | ¥427.7m | ¥743.0m | ¥523.9m | ¥743.5m | ¥917.1m | ¥849.6m |
| Gross profit | ¥496.0m | ¥209.5m | ¥11.3m | ¥117.8m | ¥29.0m | ¥86.2m | ¥145.2m | ¥80.9m |
| Operating income | ¥301.7m | ¥59.6m | −¥142.3m | −¥43.4m | −¥150.3m | −¥57.4m | −¥5.8m | −¥93.9m |
| Net income | ¥203.3m | ¥103.3m | −¥149.3m | −¥49.8m | −¥157.0m | −¥110.8m | −¥17.0m | −¥107.8m |
| Diluted earnings per share | 13.92 | 7.07 | -12.00 | -4.00 | -12.62 | -8.91 | -1.60 | -10.15 |
| Total assets | ¥2.23bn | ¥1.74bn | ¥1.60bn | ¥1.45bn | ¥1.66bn | ¥1.51bn | ¥1.61bn | ¥1.50bn |
| Cash and short-term investments | ¥228.9m | ¥221.7m | ¥189.4m | ¥130.2m | ¥396.9m | ¥453.6m | ¥361.4m | ¥91.9m |
| Debt | ¥322.3m | ¥418.6m | ¥333.8m | ¥610.3m | ¥324.8m | ¥665.3m | ¥568.9m | ¥860.6m |
| Shareholders' equity | ¥897.4m | ¥672.2m | ¥388.7m | ¥366.5m | ¥346.9m | ¥503.9m | ¥366.6m | ¥227.3m |
Financial ratios
Data as of 29 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 12.6% | 12.3% | 16.5% | 25.5% | 26.2% | 11.1% | — |
| Operating margin | -9.4% | -9.8% | -8.9% | 2.6% | 4.9% | -7.9% | — |
| Net margin | -8.6% | -12.5% | -4.8% | 1.4% | 3.5% | -8.3% | — |
| Return on equity | -37.6% | -75.9% | -18.8% | 7.3% | 21.4% | -66.0% | — |
| Return on assets | -14.5% | -25.3% | -4.9% | 2.5% | 6.4% | -16.7% | — |
| Free cash flow yield | -0.1% | -0.2% | 3.3% | 4.3% | 19.7% | -49.4% | — |
| Revenue growth | -4.4% | 80.9% | -43.7% | -7.4% | -4.6% | -24.6% | — |
| Earnings growth | -34.0% | 375.3% | -295.0% | -63.8% | -140.3% | -177.6% | — |
| Current ratio | 1.25x | 1.42x | 1.73x | 2.88x | 2.18x | 2.11x | — |
| Debt to equity | 0.62x | 1.32x | 1.82x | 1.38x | 1.21x | 2.00x | — |
| Equity ratio | 38.6% | 33.4% | 26.0% | 34.4% | 29.8% | 25.3% | — |
| Interest coverage | -23.68x | -27.71x | -45.96x | 21.58x | 8.21x | -49.96x | — |
| R&D as a share of sales | — | 0.2% | 0.5% | 3.7% | 3.9% | 1.6% | 2.7% |
| Buybacks as a share of market value | -17.4% | -17.1% | -12.3% | 0.0% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.9% | -3.0% | 4.1% |
| Operating income | — | 0.3% | 11.6% |
| Net income | — | -2.2% | 4.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.4% | 16.7% | 17.4% | 23.1% |
| Operating margin | -9.6% | -6.0% | -4.4% | -0.2% |
| Net margin | -10.6% | -6.3% | -4.9% | -2.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -14.6 | -5.1 | -20.2 | 79.9 | 42.0 | -13.9 | 16.8 | -21.4 | 235.4 | 16.1 |
| Price to sales | 1.3 | 0.6 | 1.0 | 1.1 | 1.5 | 1.1 | 1.4 | 6.1 | 4.3 | 2.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Mar 2006.
| FY2007 | FY2006 | |
|---|---|---|
| Paid in the year | 28.00 | 28.00 |
- 100-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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