E 
37
+5.71%
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
¥1.37bn
FY2016FY2025
Net income
−¥3.6m
FY2016FY2025
Free cash flow
¥304.3m
FY2016FY2025
Shareholders' equity
¥3.73bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.37bn | ¥17.24bn | ¥17.00bn | ¥754.1m | ¥263.7m | ¥354.3m | ¥670.4m | ¥1.88bn | ¥1.30bn | ¥593.2m |
| Operating income | ¥106.8m | −¥53.6m | ¥205.7m | −¥109.3m | −¥153.0m | −¥239.0m | −¥449.3m | ¥7.3m | ¥53.5m | ¥64.2m |
| Net income | −¥3.6m | −¥154.9m | ¥153.2m | −¥171.3m | ¥260.9m | −¥1.76bn | −¥1.14bn | −¥52.3m | ¥15.0m | −¥570.1m |
| Diluted earnings per share | -0.01 | -0.53 | 0.54 | -0.74 | 0.75 | -12.70 | -8.23 | -0.41 | 0.13 | -8.75 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥6.39bn | ¥3.51bn | ¥3.38bn | ¥1.83bn | ¥1.64bn | ¥610.7m | ¥3.80bn | ¥2.59bn | ¥2.71bn | ¥1.81bn |
| Cash and short-term investments | ¥1.25bn | ¥1.04bn | ¥1.13bn | ¥934.6m | ¥897.3m | ¥120.8m | ¥255.3m | ¥83.8m | ¥679.9m | ¥581.1m |
| Total liabilities | ¥2.66bn | ¥309.4m | ¥250.3m | ¥159.6m | ¥120.9m | ¥501.5m | ¥499.2m | ¥83.6m | ¥273.4m | ¥454.5m |
| Debt | ¥1.64bn | ¥32.8m | ¥18.7m | ¥24.6m | ¥33.3m | — | — | — | ¥158.0m | ¥331.0m |
| Shareholders' equity | ¥3.73bn | ¥3.20bn | ¥3.12bn | ¥1.67bn | ¥1.52bn | ¥109.1m | ¥1.83bn | ¥2.51bn | ¥2.43bn | ¥1.36bn |
| Shares outstanding | 295m | 290m | 283m | 232m | 347m | 139m | 138m | 128m | 112m | 65m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥687.6m | −¥93.1m | −¥66.4m | −¥275.8m | −¥566.3m | −¥145.0m | ¥271.0m | −¥549.0m | −¥739.5m | −¥781.7m |
| Capital spending | −¥383.3m | −¥28.2m | −¥6.5m | −¥1.4m | −¥1.0m | −¥1.0m | −¥157,000 | −¥12.0m | −¥255,000 | −¥206,000 |
| Free cash flow | ¥304.3m | −¥121.3m | −¥73.0m | −¥277.2m | −¥567.3m | −¥146.0m | ¥270.9m | −¥561.0m | −¥739.8m | −¥781.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥362.4m | ¥189.7m | ¥598.0m | ¥249.9m | ¥191.5m | ¥331.7m | ¥5.68bn | ¥2.09bn |
| Operating income | ¥99.1m | −¥27.1m | ¥182.7m | −¥45.1m | −¥39.0m | ¥8.2m | ¥25.0m | ¥10.0m |
| Net income | ¥57.8m | −¥14.2m | ¥124.2m | −¥96.9m | −¥36.2m | ¥5.2m | −¥73.6m | ¥2.0m |
| Diluted earnings per share | 0.17 | -0.04 | 0.42 | -0.33 | -0.12 | 0.02 | -0.25 | 0.01 |
| Total assets | ¥9.00bn | ¥5.95bn | ¥6.39bn | ¥5.69bn | ¥3.67bn | ¥3.40bn | ¥3.51bn | ¥3.51bn |
| Cash and short-term investments | ¥1.40bn | ¥1.53bn | ¥1.25bn | ¥2.89bn | ¥514.9m | ¥313.2m | ¥1.04bn | ¥635.6m |
| Debt | ¥2.11bn | ¥182.0m | ¥1.64bn | ¥363.5m | ¥9.8m | ¥4.4m | ¥25.9m | ¥20.0m |
| Shareholders' equity | ¥5.58bn | ¥3.78bn | ¥3.73bn | ¥3.49bn | ¥3.46bn | ¥3.20bn | ¥3.20bn | ¥3.27bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2017 | FY2014 | FY2008 | FY2007 | FY2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 7.8% | -0.3% | 1.2% | -14.5% | -58.0% | -67.5% | — | — | — | — | — | — |
| Net margin | -0.3% | -0.9% | 0.9% | -22.7% | 98.9% | -497.3% | — | — | — | — | — | — |
| Return on equity | -0.1% | -4.8% | 4.9% | -10.3% | 17.2% | -1614.4% | — | — | — | — | — | — |
| Return on assets | -0.1% | -4.4% | 4.5% | -9.4% | 15.9% | -288.5% | — | — | — | — | — | — |
| Free cash flow yield | 8.3% | -0.5% | -0.5% | -2.7% | -3.7% | -2.4% | — | — | — | — | — | — |
| Revenue growth | -92.0% | 1.4% | 2154.3% | 185.9% | -25.6% | -47.1% | — | — | — | — | — | — |
| Earnings growth | -97.6% | -201.1% | -189.4% | -165.7% | -114.8% | 54.8% | — | — | — | — | — | — |
| Current ratio | 3.02x | 10.63x | 13.91x | 13.59x | 18.04x | 0.71x | — | — | — | — | — | — |
| Debt to equity | 0.44x | 0.01x | 0.01x | 0.01x | 0.02x | 0.00x | — | — | — | — | — | — |
| Equity ratio | 58.4% | 91.2% | 92.6% | 91.3% | 92.6% | 17.9% | — | — | — | — | — | — |
| Interest coverage | 2.77x | -145.36x | 882.94x | -733.41x | — | — | 4.33x | 2.50x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | — | — | 3.1% | 1.0% | 1.4% | 7.7% |
| Buybacks as a share of market value | -1.8% | -2.4% | -22.2% | 33.2% | -150.0% | -0.2% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 22.1% | 31.1% | 5.6% |
| Net income | -72.3% | -70.9% | -41.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 0.3% | 0.4% | -0.7% | -1.8% |
| Net margin | -0.9% | -0.5% | -4.5% | -10.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4039.9 | -59.9 | 75.7 | -36.5 | 25.3 | -1.4 | -3.5 | -108.0 | 374.1 | -5.7 |
| Price to sales | 10.8 | 0.5 | 0.7 | 8.3 | 25.0 | 7.0 | 6.0 | 3.0 | 4.3 | 5.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 20-for-1 split · 26 Dec 2013
- 1-to-1 reverse split · 1 Aug 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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